Can I do better than this? The numbers are slightly different than what the dealer sent me. See below.
Pricing
Market Value Selling Price … $32,708.00
Dealer’s discount … $1,700.00
Rebate … $2,000.00
Adjusted Price … $29,008.00
Monthly Payment
Lease Depreciation (+) … $289.54
Lease Charge (+) … $135.10
Base Lease Payment (=) … $424.64
Use Tax (+) … $43.31
Total Payment (=) … $467.95
Residual Value
MSRP … $32,708.00
Residual Factor … 0.62
Annual Mileage … 12,000
Pre-Charge … 0.10
Adjusted Residual (=). $20,278.96 (MSRP x 62%)
First of all this is a base highlander
Second - a $1700 discount is not enough. Shoot for at least double that.
Third this base model should be only 300 or less monthly.
I do not understand what PRE charge means. Is this the Money Factor? because it is high if they are charging you 135 for rent …
As a comparison, my 42k Highlander lease is 119 rent charge only FOR the whole lease of 36 MONTHS not per month! (I used MSD).
Total payment is 381 with taxes (42k MSRP, 3 years 15 k miles, sales price 38k)
The highlander has a special interest/money factor - they are definitely overcharging you on interest …
Edit - I checked your calc link - they are charging 0.00265 MF - that is criminal!!!
Highlander MF is 0.0001 as long as you have decent credit
Yeah that seems high to me. But this is Louisiana and it seems that car dealers always try and stick it to people.
Yup but that does not mean you have to take it. I am sure the Toyota sell rate MF is several points below what they are charging and if you point it out to them, they will know you are not a fool
