Looking for help on an offer for a Grand Highlander Limited

Current Lease:

  • Vehicle: 2020 Highlander Pearl White
  • Current Mileage: 33,800 miles
  • Payoff: $28,905.32

New Lease Offer:

  • Vehicle: Grand Highlander Limited
  • Listed Price: $52.9k
  • Dealer Discount: $1,000
  • Equity from Trade-In: $1.5k-$2k (True offering)
  • Due at Signing: $1000,No additional down payment
  • Monthly Payment (inclusive of all MF, Gap insurance, taxes, everything from what they said is $675.00 monthly.

Credit is great

Lease Terms:

  • Term: 36 months
  • Mileage Allowance: 12,000 miles per year

Additional Lease Information (Based on Lease Hacker Data for South Florida 33001):

  • Residual Percentage: 64-66%
  • Money Factor (MF): 0.00302

I’m eager to hear your thoughts on whether this is a solid deal or I should continue to work it or possibly just buy out the 2020, still happy with it. I’m in South Florida (ZIP code 33001) which might influence the overall lease costs. Thanks in advance!

What does “true offering” mean?

Why the range in RV? Are you looking at multiple locations and/or multiple trims? Should be set % for any given Trim/Location.

Did you test drive the new Grand ? How does it compare to your current Highlander?

Very curious. Just sold my Highlander Platinum

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I’m curious too. What is the 3rd row & cargo space difference when the 3rd row is up? We have a '22 XLE AWD that’s just not big enough. For the Grand Highlander MSRP, I think even a slightly more expensive Sienna would be a better car.

You’ve got a lot of moving parts here. So they are giving you $1,500 or $2,000 more than you owe on your 2020? $1,000 dealer discount. What is this dealership’s doc fee? It is South Florida, so what is it ($900-$1200)? What are they charging you for the GAP insurance?

The vehicle is much like the sequoia, but smaller and larger than Current Highlander. Nice room in 3rd row, think exit row on an airplane, not that big but you get it and definitely more cargo room on the back. XLE the technology is the same. In the limited you get a lot more - Toyota Safety 3.0, panoramic 360 view monitoring.

The selling price is 52.9k, they’re going to give me 1k off of msrp plus give 2100 in equity on the 2020 Highlander. They are telling me it’ll be $675 a month for really 35 months because the $1000 will cover the first months payment.GAP ins. I’m unsure. Let’s say $700-1000. I believe I can get it through my insurance. So may ask to see price without it.

Doc fee is $1095, but should be included.

All in all the total for the 36 months including the 1000 will be $24,625 based on what I know.

Thoughts on the deal?


You are getting a check for the $2,100 in equity or are they rolling into your new lease to lower your payment?

Rolling it. And the residual has been fluctuating 64-66% yesterday in the leasehacker rate finder and today at 60%. Strange.

It’s roughly the same capacity as a Honda Pilot. It’s only “grand” because the Highlander was smaller than the rest of the mainstream competition.

The leases in this segment are terrible except for the smaller PHEV such as the Mazda CX90. And the bodystyles don’t even change very often. I don’t see the point in repetitively leasing in this segment under current market conditions.

TLDR finance a GH, Pilot or Telluride and own it until the next bodystyle comes out (trade in if there’s a tax benefit otherwise sell separately). The demand from the “always buy used” crowd + the demand from the “I need a three row SUV” crowd = resale value will always be top percentile.

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[quote=“max_g, post:9, topic:492258”]
It’s roughly the same capacity as a

We had a ‘17 Pilot before we bought the ‘22 Highlander. Space is definitely an issue with our Highlander. I made the mistake of getting our ‘22 Highlander with rear captain’s chairs instead of a bench like we had in the ‘11 Pilot, then the ‘17 Pilot. It’s also not as big as the Pilot. I did buy the Highlander and most likely will be able to unload it at anytime due to the popular nature of it and vehicles in the segment. I don’t know if anything in the segment is big enough to fit our needs.

The Sienna has incredible resale value. If it is the same price or even slightly more than a similarly equipped Grand Highlander I’d go that route.

Death before minivan my friend.

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Thanks for your insight. The size isn’t the issue for us, I was just seeing if this offer is worth it. I don’t think it is.

Anyone know the mf and rv for 21117?

Edmunds will have that info

Having current, accurate information for residual value, money factor, and incentives is important in understanding your deal. As such, going directly to a source that has access to that data from the captive banks is your best option.

Rate Findr has that information, as they have direct access to it from the captive banks. It’s a tool on the Leasehackr Calculator, available to Super Supporters.

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