Toyota Highlander XLE Lease
The average cost of a Toyota Highlander XLE lease ranges from $600 to $960 per month.
Written by Maxine Boyko
Reviewed by Jessica Barrett
The Toyota Highlander XSE costs a little more than other SUVs in the Toyota model line-up, which is one reason why you might consider leasing instead of buying one outright. That doesn’t mean leasing is without its own set of hassles, so it’s important to be wary of potential hangups before you sign an agreement.
Leasing is a great way to enjoy all of the benefits of a Toyota Highlander—such as an excellent safety record—at lower monthly costs and with worry-free maintenance. If you’re not too keen on the inherent drawbacks of buying a car, like a large down payment and depreciation, leasing can be a great alternative.
With so many pros and cons, it can be hard to get all of the facts straight. Fortunately,
Jerry
, the car insurance
super app is here to clear up any questions you may have about your leasing options. We’ll cover the process, costs, and how to save on your monthly Toyota Highlander XLE insurance cost
.Find out if you can reduce your monthly car payments in minutes
* checking your rate won’t affect your credit score
Check your rate
* checking your rate won’t affect your credit score
How to lease a Toyota Highlander XLE
Leasing isn’t as scary as it may seem, but that doesn’t mean you’ve turned onto Easy Street. However, there are a few easy steps you can follow to ensure you’re heading toward the best deal.
- Check your credit rating. When it comes to leasing a Toyota Highlander XLE, you’ll need a bare minimum 520 credit score. On the other hand, a good score starting at 650 (and higher) generally opens the door to better lease offers.
- Figure out your budget. Target a monthly payment that’s no more than 15% of your monthly income so you’re not financially struggling. If you make $4,500 a month, for example, you shouldn’t spend over $675 on your leasing costs.
- Calculate your down payment. A large payment can significantly reduce your monthly costs. The more money you can put down, the more manageable your monthly costs will become.
- Estimate your yearly mileage. Leased Toyota vehicles come with 10,000, 12,000, or 15,000 annual mileage. If you’re traveling less than that, you may not feel like you’ve gotten your money’s worth—but traveling over that amount comes with extra charges.
After determining your financial situation, check out the
lease offers
at your local Toyota dealership. As you shop around, use your budget to your advantage. Be realistic about what you can afford, and prepare to negotiate a better lease offer. The final step: shop for insurance
Leases don’t usually include
car insurance
, so you’ll likely need to shop around for your own. Since you’ll be paying less per month to lease, that will give you some flexibility around how much you can put toward coverage. That being said, it’s always nice to find a great deal when you can!The super app
Jerry
is the best way to ensure you and your leased vehicle are fully protected. After downloading the app, just answer a few questions. It only takes a minute for Jerry to hand over competitive quotes from 50+ top insurance companies. Let go of your worries, and grab a hold of savings with Jerry—the average customer saves $887 per year on car insurance!
MORE: How to lease a car
How much does a Toyota Highlander XLE lease cost?
A 2022 Toyota Highlander XLE will range in price based on several factors—but in general, you can expect to pay between $600 to $960 per month on a 36-month lease.
Other factors that will impact how much your lease costs include:
- Your credit score
- The vehicle trim level, options, and packages you select
- The MSRP (sale price)
- Your lease term (how many months you will lease)
- The interest rate
- Other taxes and fees
- Any “extras” or additional features
One of the most influential factors in your lease expenses is your credit history. Let’s take a peek at what you can expect to pay monthly and your amount due at signing based on your credit score.
Let’s assume you put down $0 for a 36-month lease with 10,000 annual mileage.
Credit score | Monthly payment | Amount due at signing |
|---|---|---|
520 to 579 | $961 | $2,111 |
580 to 609 | $887 | $2,027 |
610 to 629 | $877 | $1,986 |
630 to 649 | $780 | $1,930 |
650 to 669 | $704 | $1,854 |
670 to 689 | $641 | $1,791 |
690 to 719 | $610 | $1,260 |
720+ | $603 | $1,253 |
Find out if you can reduce your monthly car payments in minutes
* checking your rate won’t affect your credit score
Check your rate
* checking your rate won’t affect your credit score
You should also anticipate upfront costs such as your down payment, first monthly payment, taxes, fees, and security deposits. Say you have a good credit score and can afford to put down $2,000 on your 36-month Highlander XLE with a 10,000 annual mileage—you should expect to pay at least $3,789 at signing.
Here is a breakdown of the $3,789 due at signing amount:
- Down payment: $2,000
- First monthly payment: $639
- Acquisition fee and security deposit: $1,150
This amount doesn’t include any tax, title, licensing, or other fees (including additional add-on features) that will increase your costs.
The trim level also changes how much you’ll pay. If you choose a higher trim, like the XLE, you’ll pay hundreds of dollars more than if you decide to drive a base model Highlander instead.
Key Takeaway The cost of your Toyota Highlander XLE lease will depend on several factors including your credit score, down payment, trim level, lease term, and more.
Services included in a Toyota Highlander XLE lease
All Toyotas come with
ToyotaCare
, which is a maintenance and roadside assistance plan. Included is free routine maintenance for two years or 25,000, whichever comes first. There’s also around-the-clock roadside assistance for unlimited miles on your first two years.The nice thing about leasing a Toyota Highlander XLE is that the scheduled maintenance is taken care of for you. ToyotaCare includes the following maintenance services:
- Engine oil and filter changes
- Fluid changes
- Tire rotations
- Multi-point inspection
- Certified Toyota parts
Roadside assistance will cover services such as towing, battery jumpstarts, locksmith protection, fuel delivery, and more.
While Toyota Highlander parts and labor are not the most expensive on the market, it’s still a bummer if you’re responsible to pay out of pocket. Luckily, ToyotaCare will ensure that you’re driving your leased vehicle in top shape, no questions asked.
What to do when your Toyota Highlander XLE lease is up
Once you reach lease-end, you may either turn in your SUV, return the SUV and lease a new Toyota, or buy the SUV you’ve grown close to over the last few months.
How to return a leased Toyota Highlander XLE
If you’re not going to keep your current Highlander lease, the returns process is as easy as turning it into the dealership with the keys. For smooth sailing, follow Toyota’s
return guide
.You’ll ideally want to take the following steps before turning in your Highlander XLE to avoid any additional charges:
- Inspect your leased SUV. Check out thewear and use guidelinesto determine the condition of your vehicle and make any necessary repairs
- Schedule an inspection 15 to 60 days before lease-end by calling (855) 40-MY-TFS
- Call the dealership to schedule a return appointment
Once you arrive at the dealership to return your leased vehicle, you will need to sign an
odometer statement
and pay a disposition fee of up to $350 for the return.How to purchase a leased Toyota Highlander XLE
If you just can’t imagine parting with what is now your trusty steed, make it official! You can request a
payoff quote online
. If you have any questions regarding buying your leased vehicle, you can call 1-800-874-8822. MORE: How to prepare a car for inspection when returning a lease
How to find the best car insurance for a Toyota Highlander XLE
Jerry is here to make your insurance shopping experience better than ever, whether you lease or own your vehicle. Just answer a few simple questions after download, and as a
licensed broker
, Jerry will determine the best policies and quotes for you based on your customer profile. Once you have access to the dozens of quotes Jerry sourced, pick which one works best for you. From there, the paperwork and sign-up are completed on your behalf. If you have questions, simply send a text and an agent will help you straight away.
“I just financed a new car and knew my insurance premium was going to rise.Jerrywas well worth it to use. They helped me find a lower premium and canceled my old policy instantly when I was ready to switch!” —Meghana D.
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