n4s
January 2, 2022, 5:32am
1
Closed a deal on Toyota highlander limited decently loaded.
Year, Make, Model, and Trim: 2021 Toyota Highlander Limited
MSRP: $ 50095
Selling Price: 45095
Monthly Payment: $ 616 (added GAP protection)
Drive-Off Amount: $ 1475
Months: 36
Annual Mileage: 10k
MF: .000245
Residual: 32350
Incentives:
Region: SoCal
Leasehackr Score: 7.5 (calculator is little off)
2 Likes
volvo1
January 2, 2022, 2:51pm
2
Congratulations! Did you get GAP through the dealer or get quotes from your insurance?
Also, which bank did you lease the car through?
n4s
January 2, 2022, 2:54pm
3
geico doesn’t provide gap so went with dealer .
1 Like
TypeSH
January 2, 2022, 3:28pm
4
Out of curiosity, if the vehicle is pretty close to instant equity, why get GAP?
1 Like
max_g
January 2, 2022, 3:36pm
5
Total waste of money. See if you can cancel immediately
7 Likes
I don’t think you can cancel gap
I’ve canceled GAP with TFS before. I believe if it’s still the same terms you can get 100% refund in 30 days and prorated after
1 Like
This is more for my edification but how did you calculate instant equity from OP’s description?
Thanks!
TypeSH
January 5, 2022, 10:41pm
11
I did not run any calculation, it was based on the OP’s previous threads where he/she was asking about whether the 2021 Highlander Limited was a good deal and their plan to buy it and then flip it in a few months predicated on the assumption that with the $5k discount that the vehicle has instant equity.
I guess i shall buy it and try to flip in 1-2 months or years. Should be breakeven or little ahead.
1 Like