Probably a lot of accessories and add-ons that aren’t residualized and therefore you are paying 100% of their price.
Get Dealer 2 to match price and MF
I live in the northeast section of Ohio, and these credit unions are in the northwest section. I also checked their membership requirements and I don’t live in any of the counties they list.
If I could find a deal around $350.00-$360.00 with Ohio 7% tax included, I would go with it. Nothing close to that deal so far on the east side of Cleveland.
Thanks for the information RVguy and max_g. I’m learning something almost every time I visit this site!
And the lease padding adding to Cap cost consists most likely one of the following:
Wheel protection package
Extended wear and tear
Paint protection scheme
Sealant, rust proofing, simoniz etc etc etc
Just received my new 2017 Highlander XLE. Here are the details of the lease.
MSRP: [$42,117]
Selling Price: [$37045] 12% off MSRP
Acquisition Fee: [$650]
Trade-in: [$0]
Months: [36]
Annual Mileage: [12,000]
Security Deposit: [$0]
Total Due At Signing: [$1326] (breakout below)
Monthly Payment (incl. tax): [$326]
Breakout of fees due at signing…
$0Cap cost reduction
$400 Registration Fee
$75 DOC fee
$525 sales tax
1st payment $326
Total $1326
Zip Code: [07005]
Residual Value (68%)
Leasehacker Score of 11.5 years
Toyota Financial Services
I couldn’t use MSD’s because I went through the Honcker App which currently doesn’t allow it. They are currently investigating with the developers if it can be done in the future.
The car came from Island Toyota in Staten Island. They delivered the car and I signed all paperwork in my dining room.
I emailed many dealerships and none of them would go that low on the MSRP. I think I got a pretty good deal minus no MSD’s.
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It is good to see people here using the Honcker app. That app is built off of the mGauge API from MarketScan which has the most complete and up to date database of incentives, rebates, MF and RVs. So any lender that is in play in a specific zip code will show up on that app (Captives, Credit Unions, Ally, US Bank and several other tiny 3rd party Lessors). Honkr signs up dealers who submit their inventory with their “buy it now” price on each VIN.
I think you need to submit some info in advance so Honkr can run a soft pull on your credit to see which credit tier you qualify for so they are feeding you real payment details.
@jayneo74 can you confirm that was the case with your experience with the app?
Apps like this are great companions to this forum to chase the best deals at a point in time. I expect the next iteration of this technology will add in some predictive modelling to compare the current payments against historical patterns to notify users if you should buy now or wait a bit. Similar to how some airline pricing sites are using predictive models.
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Yes, they do a soft pull so they can detail the monthly payments to your approximate credit score. Recently, they added a new feature where you add cars to your showroom and they will occasionally give a 24 hour sale price. I added a few of the lowest priced Highlander XLE’s and the lowest I had seen was 339 for only a couple hours. Then this one showed up at 327 and I jumped on it. All the out the door costs are listed and rounded up. So my actual payment was 326.52 and down payment was a few dollars less. Very pain free process. I usually finance my cars and keep them a very long time but I had two cars going downhill at the same time so I purchased one last year and am using the lease to offset the payments. When this lease is up, the car will be paid up.
I apologize for this getting off topic.
Do you get notified if they have the 24 hour sale price?
I just signed up and read through their FAQs and it says that each price is set to that particular user, but when I looked up the 2017 Toyota Highlander XLE, the lowest price was like $414. My credit score is 800+, so not sure why there is a huge gap difference in price (maybe location; i’m in SoCal).
My lowest is 353 right now but I’m in NJ and I also have a 800+ score. The differences must be location. They didn’t notify of the sale. I would just check the prices every few hours and would go into the showroom and move a vehicle out so the prices refresh. For some reason, the prices in the showroom don’t always update. I had the 327 price once, closed the app and it came back at 355. I moved a vehicle out of the showroom and it refreshed back to 327. I jumped on it because my dealings with local dealerships wasn’t coming close to that price.
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The captives and OEMs that I am familiar with (almost all) all have regional incentive programs which include the MF and cash components. The RVs are all nationwide so the real variability in payment structure from state to state will be due to the state specific sales tax and the method that sales tax is applied (just the depreciation portion or the entire purchase amount and when the sales tax is collected upfront or monthly) and then what the regional MF and other lease incentives are. Along with the variability in sales price of course.
When your registration arrives in the mail, you should ask for a refund of the difference. It should only be $289 for 3 years plus a tire tax of $1.50 per tire.
Rich…make sure to try all the lease months…theres a huge difference between 39 months and 36 months on the Toyota.thats why price was higher…check it again!
Just finalized a deal Tuesday night for a 2017 Highlander Limited AWD, Blizzard Pearl with Almond interior. Had all weather mat package and rear bumper protector. It also has the second row bench seat (a must have for us) which was pretty hard to find in this area in either an XLE or Limited model other than the Hybrids which all have bench second row seats.
MSRP 44883.00
Selling price of 9% discount off MSRP 40597.94
Ohio 7% Tax added to Selling price 966.22
Acquisition Fee 650.00
Doc Fee (set by and limited by state of Ohio) 250.00
Gross Cap Cost 42464.16
Cap Cost Reduction 466.87
Title, registration, 45 day tag 33.50
Adjusted Cap Cost 41997.29
Highlander Limited RV 65% 29174.00
Rent Charge 1972.80
Total of base monthly payments 14796.09
Money Factor before MSD (3.58%) .00149
Monthly Payment which includes rolled in tax 411.00
Tax on Cap Cost Reduction 32.68
Money due at signing before 9 MSD 944.05
Money due for 9 MSD 3825.00
Money Factor with 9 MSD (1.85%) .00077
Money due with 9 MSD, 1st payment, cap cost
reduction tax, title, registration, 45 day tag 4769.05
Toyota Cleveland Auto Show Bonus Money 500.00
Total out of pocket not including MSD using bonus 444.05
Total of 9 fully refundable MSD at lease end 3825.00
Charged 4269.05 on my GM credit card to earn 5% GM rewards money towards a GM lease at a later date. Thanks to this forum, I learned about the MSD that can be put down on a Toyota lease. I was only the second person to use this advantage according to the Finance Manager who handled the paperwork. He has been with the Toyota store for over 5 years but was previously with Lexus. He said it is very common at the Lexus store, but almost unheard of at the Toyota store.
It was not something the salesman or the sales manager were familiar with at all. The salesman has been at the store for 20 years! When I told them I wanted to put down $3825.00 as MSD, they at first figured the lease as that money being a down payment! I ended up having to show them a copy of a Lease Hacker calculator printout I had copied before even going to the store. Once they saw this, it was pretty simple to put the deal together and getting the reduced money factor and a selling price I wanted.
The additional bonus money was icing on the cake! I did attend the Cleveland Auto Show before going to the dealer since this money could only be obtained at the show and filling out a form at the Toyota display. The money is good at any Toyota Cincinnati Region dealership which includes Ohio, Michigan, Tennessee, or Kentucky according to the certificate I received via email from Toyota.
I had received two free tickets to the show from a Chevrolet email offer so I didn’t even have to spend the $13.00 admission fee per person and free parking is included at the show.
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Did you have to attend the auto show to qualify for this? Did you physically pick up a coupon or something at the auto show? I don’t fully understand how these work. Expiration?
Great Job…But that all sounded like a lot of work!
Congrats on the Highlander Limited!..Anyone in the market will appreciate the detailed post
Post a pic
Did you have to attend the auto show to qualify for this? Did you physically pick up a coupon or something at the auto show? I don’t fully understand how these work. Expiration?
Yes, you have to go to the show and sign up for the $500.00 coupon at the Toyota display. Once you sign up, they will send you an email within 48 hours. I attended on Monday and got my email
late Wednesday.
The certificate I got in an email has to be taken to the dealer and they fill in the information about the purchase or lease of the Toyota you choose You must take delivery from dealer stock by April 3rd from a dealer in the Cincinnati Region (Ohio, Michigan, Tennessee, or Kentucky)
My dealership (Classic Toyota in Mentor, Ohio) included the $500.00 in the deal on Tuesday night even though I had not received my certificate yet. I did final get it late Wednesday and took it to the dealership today.
The show is at the Cleveland IX Center which is adjacent to Cleveland Hopkins Airport.
While there I also signed up at the Ford display for a Test Drive certificate. Give them your email address and some other information and take a test drive by April 30th. I also received that certificate by email yesterday and stopped at the Ford store right next to the Toyota store. I had leased my Ford at that store and they filled out what I needed since I had test driven an Explorer before getting the Highlander. I will be sent a $50.00 MasterCard within 8 weeks.
Yes, I did put some effort into getting a good deal. When I first started trying to lease a Highlander, I was getting prices of over $500.00 a month, or dealers wanting $3000 or $4000 down to get around $375 or so. I found this forum, read as much as I could find about other deals, and went for it.
Like I said, the MSD was the factor that allowed me to get more car than I was expecting without putting a large sum of money down as a down payment. I had read about others trying to use MSD’s and many also hitting road blocks from dealers who had no clue what they were, how they worked, or that they could even be done. I was prepared to hit those same road blocks (and did at the other dealers I checked also) but had the printouts from the calculator here to show them how it works.
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What I meant was $470 a month. Sorry didn’t get back sooner.
Hey all,
Thanks for all posts to help get a good deal. I thought I’d post what it just got.
2017 Highlander XLE
MSRP: [$40,114]
Selling Price: [$35,500] 11.5% off MSRP
Acquisition Fee: [$650]
Trade-in: [$0]
Months: [36]
Annual Mileage: [12,000]
Money Factor: 00001 with no MSD needed
Security Deposit: [$0]
Total Due At Signing: [$1030] (breakout below)
Monthly Payment (no tax): [$327]
Monthly Payment (incl. tax): [$353]
Breakout of fees due at signing…
$387 Cap cost reduction
$231 Registration Fee
$29 DOC fee
$30.01 sales tax
$8.75 California Tire fee
1st payment $353.08
Total $1050
Zip Code: [92705]
Residual Value (60%)
Leasehacker Score of 9 years
Looks like a good deal. Sorry if I missed it, 3 year 36k. I’m assuming since Cali it’s a fwd