That’s just very general rule. I’m sure no one here would be happy paying $500/month on a $53k BMW i3. On the other hand, $625/month for a $60k Porsche is probably considered a great deal.
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There’s a bear lurking everywhere I go. Wait… am I the bear? Sometimes it feels crowded in my head.
Oh, about leasing? I learned that 1% or better is the way to go.
@changehiphop - I just saw that Toyota is doing the 0.9% APR for 60 months. Maybe its even better to buy the Highlander… is that faux pas to mention in a lease forum !!
The great thing about the Highlander is, if you purchase it and treat it as a lease (watch your mileage, and don’t trash it) and you negotiate a great price, in 3 years you can sell it outright for more than you owe. They hold their value extremely well.
Yeah thats what i was thinking and keep it for 5 year. Just that I don’t know if MN weather will trash the car anyway
Interest on the non-hybrid Highlanders is 1.92% for a lease. If you can use MSDs, it can be as low as 0.19%. Plus, you save on sales tax with the lease over purchase.
@Cody_Carter Can one apply MSDs to the Highlander’s .0008 MF? I heard that sometimes TFS doesn’t allow MSDs on subvented rates?
Yes 9 MSDs will get you to .00008
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You should be able to get another 2k off on that discount before rebates.
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GX - Premium
MSRP: $59,344
Total Discount Inc Rebate: $7,544
Selling Price: $51,800
Money Factor: 0.00030
Residual: 36,199.84 (61%)
$1,539 down
$525(inc. taxes) a month for 36 months/7500 miles
or $540(inc. taxes) for 10k miles
Should I go back with 0 down with the same monthly?
Is that $1539 down or 1539 drive off? There’s a difference.
It is down - reduce cap cost.
Doesn’t seem like too bad of a deal to me.
Do you mean its good, if I get them to make it 0 down or even with the $1539 down for cost cap?
You’re going to start getting people saying “if you like the deal and the car enough, go for it.” The rule is 1% of msrp or better is considered a good deal. All taxes and fees included.
So if you’ve hit that point, it’s a green light.
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With everything included and calculated you’re around $580. That beats the 1% rule.
Whether people think you can get a better car for that much is subjective. Different people like different cars.
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yeah I think I am happy with the deal. Time to just pull the trigger.
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Can you break down the $7544? How much of that is discount vs. rebate?
Will do, he didnt give me the entire breakdown on that but I will post it later.
I honestly believe you could do the same deal with 10K miles. I’ve seen better deals on that model for sure. But if you like it, go for it.
I agree. I would try the 7500 mile quote and tell them to make it 10k and you have a deal.