Is Toyota Financial Services not TFS? My paperwork says Southeast Toyota Finance (SETF) so could be a regional thing since I’m in FL.
and in researching this on the TFS site:
Type and availability of GAP vary by state. GAP may not be available on finance and lease contracts in some states. Please discuss with your dealer and refer to your agreement at time of purchase. See your auto insurance policy for actual coverage in the event of a total loss.
Consider canceling this windshield protection if your insurance is reliable about glass claim.
I thought about it and because of my deal is so bad when compared to others here, I’ve been having remorse for making it worse with GAP and Windshield protection.
I wonder if anyone had any experience with not having GAP and totaling their car…
There’s always a chance they just added that option to your deal without even bothering to inform you that you could pass on it and get the GAP elsewhere.
SET is a separate distributor than Toyota Motor Sales USA. They have exclusive in several southeast states (including FL). They do not use TFS, they have their own captive: SETF.
Sounds like they do include GAP. But this has no bearing on TFS leases in other states.
So how stupid would it be to cancel GAP on this one?
I wouldn’t.
technically you’re at $483.50/month with the $630 refund check. I’d definitely research the suggestion of glass claims in your state (FL allows 1 per year through a fully insured vehicle, you may hvae something similar if unaware), as well as the insurance’s rate on GAP coverage - possible it is a lot less than Toyota.
good luck!
Geico said cracks/chips smaller than a quarter are free to repair without the deductible requirement. I will be cancelling the windows protection, which puts my payment down to $471/mo. I hope they will let me cancel it.
Isn’t this great, sign a bad deal first, then make it better. 
First you need to confirm that GAP is included in SETF leases. if it is and the dealer charged you extra for GAP, then, sure you could cancel it since you already had it. But that would be unusually if you already had it and the charged you for it anyway. That would also warrant a complaint to SET.
I bought an Infiniti in 2011 using the factory employee program (long story).
When I sat in the finance office at the dealership to sign the papers, the woman closed the door and said, “On this deal you are one of us,” and then pointed to a display full of brochures and said, “You don’t want any of this crap.”
Pretty much.
At the very least you don’t want any of it at the price they’re selling at.
To give you some perspective…
Tonight I signed the papers for a 2019 Highlander SE. MSRP was $43,800…Worked with @Bostoncarconcierge, I’ll leave it up to him to share the specifics of the deal. My payment is $366 per month - tax and interest included! Couldn’t be happier!
Congrats Jerry_Richardson! What state and how hard was the negotiation? Any downpayment or MSDs used?
MA, 5 MSD’s. @Bostoncarconcierge negotiated everything except my trade in. The dealer had the paperwork waiting for me.
I traded in my car to replace the cost of MSD’s (no interest in selling privately). So as long as I don’t total the car or it gets stolen I’ll get $1875 back at lease end.
Re: GAP - it depends on your risk tolerances.
We didn’t get it. I figured we’d probably swap it out or sell it to Carvana/Vroom within 12 months or as soon as it broke even. Current pay off is $32k-ish and recent quote from Carvana was $31,700 so we’re almost there! For us, we were happy to risk it.
Horrible. I leased a new Highlander XLE AWD (in CT), 1k down, 36 months, 15,000 miles for $329/month before tax. Sounds like you didn’t do your homework.
MSDs are refunded even if the car gets totaled (hopefully is doesn’t though!)
They took you to the cleaners 10 times over. Light it on fire and let that gap insurance kick in LOL, jeez 501 for an LE is nuts. This is Highlander Platinum payment. Salesman is celebrating Christmas early this year.
