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Toyota 4Runner Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi pgill. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of any 2007 Toyota 4Runner SR5 4WD with 12,000 miles per year in its New York region are .00181 and 60%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Keith. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 4Runner Sport 2WD with 12,000 miles per year in its Los Angeles region are .00181 and 59%, respectively. The numbers for an otherwise identical lease of a 2007 4Runner Sport 4WD are .00181 and 60%.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey bassmiesternj. A base 2007 Toyota 4Runner SR5 4WD has a spread of $3,200 between its full MSRP and its dealer invoice price. The discount that you were quoted is right around that and is a very good deal. Something is off with the money factor that you were quoted though. I suspect that you meant that this truck's factor is ".00375" not ".000375." Toyota Financial Services' buy rate lease money factor for a 36 month lease of a 2007 Toyota 4Runner in most regions is currently .00181 for consumers who qualify for its "Tier 1+" credit tier. Is your lease being run through a different bank? If so, then the dealer is using the $1,500 or so customer cash that is available on this model to reduce its selling price and this deal isn't that great.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey bassmiesternj. That money factor is more like it. What is the selling price of this new deal? This is a very important number to know. Without it, it's tough to tell if there is any room left to negotiate.

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  • tdbrphtdbrph Posts: 29
    Hey car_man,

    Contemplating a 4runner lease with TFS. Does the dealership get the rebate money back on their end that is available on purchase? The dealer is trying to tell me they dont get the rebate on a lease. I know you get many questions but if I could get a response I would appreciate it.

    Triston
  • I'm trying to lease a 07 SR5 with leather seats and I'm getting a selling price of $26,400 with 12K miles per year with residual value of $12,977 (44%) with a money factor of 0.002410059. The last two seem high. Any advice or just dumb Florida luck?
  • krochellikrochelli Posts: 11
    so they came back with an approximate residual of 54.8%, selling price of 30,700 on MSRP of 34,754. with 550 acq fee rolled in with 8.25% sales tax, 480 a month--not too bad, but with the 58-60% residuals i was hoping for more like 430.

    this Toyota residual thing is very confusing---i'm used to buying Bimmers. so basically the options on a car (which is a couple grand in this case) are not used in calculating the residual?

    final question for you- has the residual on the base car changed from March to April? i just want to know if this is still a good deal.

    thanks car man! (ps. you've helped me now like 3x leasing a car for friends and myself!)

    keith
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey Triston. Unfortunately, the customer cash that Toyota is currently providing on the 2007 4Runner is not compatible with its special lease program.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi samquacious. The distributorship that Toyota has to sell vehicles through in the Southeast often makes getting vehicles there more expensive than it would be in another area. I would be happy to give you my opinion on the selling price that you were quoted for this truck, but in order for me to do so it would be helpful if you told me what its full MSRP is first.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're right, Keith. The way that Toyota Financial Services calculates vehicles' residual values makes leasing through it much more confusing than leasing through most other banks. TFS did publish new residual values for the month of April. Its current residual value for a 36 month month lease of a 2007 4Runner SR5 4WD with 15,000 miles per year is 56%. Again this is for a base truck. TFS places limits upon which options can be residualized.

    Car_man
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  • krochellikrochelli Posts: 11
    Thanks Car Man. I ended up getting the 2WD version of the truck last night as the 4WD version was significantly more expensive due to the option residual issues.

    Here's the final deal:

    MSRP: 32.2k
    Selling price: 28.1k
    Residual: 17.8k
    Money Factor: .00181
    Acquisition fee: 550

    With 8.25% tax, total is $416 a month which i thought was a pretty good deal all-in-all. The 4WD version which stickered for 34+ would have been $480 a month, which is quite a difference (effectively, i would have been paying full value of the difference in MSRP in the lease at $700 a year)

    Cheers and thanks again!

    Keith
  • How good, or bad, does this offer sound for a lease of a 2007 4Runner Limited? Location is Omaha, NE.

    w/6500 due at start
    3yrs 36,000 miles
    $395-400 plus tax per month
    including tax $425 per month.
    Residual 22,479
    Money factor .00191
    MSRP $41,853

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, Keith. Thanks for taking the time to report back on the deal you got. Enjoy your new truck :) !

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello questionman. Let me begin by saying that $6,500 is way too much money to pay at lease signing. One of the major advantages of leasing is that one can get the vehicle that they are interested in without having to pay a lot of money at signing. Consumers who pay a lot of money at lease signing are taking an unnecessary risk that they will lose all or part of that money if their vehicle is totaled in an accident or stolen and never recovered.

    The money factor that you mentioned in your post looks good to me, but you never mentioned what this truck's selling price is. This is a very important number to know when leasing because it shows you how much of a discount you are being given. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. I would be happy to give you my opinion of this deal if you tell me what the selling price is.

    Car_man
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  • nedababenedababe Posts: 1
    Hi carman,
    I'm just wondering why it is bad to pay a high downpayment? The reason that I want to put 5000 down on a 4runner is so that I don't have to worry about higher monthly payments. Is this a bad idea? I haven't told a dealer that this is what I want to do but i've been thinking about it.
  • skydan5skydan5 Posts: 2
    After doing my homework, I leased a 2005 Toyota 4-Runner for $385/month. I think I paid $500 for a down payment, but I'm not positive.

    If you want more info, send me a message.
  • skydan5skydan5 Posts: 2
    In addition to the previous post I wrote, I can be contacted at dmorgan3370@yahoo.com for info about my 4-Runner lease and who I did business with.
  • shant14shant14 Posts: 9
    Car_man (or anyone else that can help),
    I am in the Southern California area and I am looking into leasing a basic model SR5 V6 4x2 4Runner. What would the monthly payments look like for a 36-month 12k/year or 48-month 12k/year lease? Also, how would the 'incentive/rebate' i see on the Edmunds pricing report get calculated into this?

    Here is the information you will probably need:
    MSRP (according to Edmunds): 28,320
    Invoice (according to Edmunds): 25,362
    TMV (according to Edmunds): 25,629
    Incentives/Rebate*: -2,500
    Customer Cash Adjusted True Market Value: $23,129
    Credit: Tier 1
    Downpayment: 2,500
    Mileage: 12k per year

    Assuming that I am able to negotiate a selling price that is identical to the Edmunds TMV, what should my monthly payments look like for a 36-month and a 48-month?

    Also, as far as lease programs or incentives go, is this a good time to buy a 4Runner? I am willing to wait at least 1 month. Would you know of any benefits in waiting until late September?

    Thank you in advance.
  • Carman or kyfdx,

    Could you please post the September money factor/residual numbers that Toyota is using for 4runner sports and limited models please? Also, would these numbers still be offered along with the current $2500 rebate that Toyota is offering on the '07 models? If not, what kind of money factor would one expect if they took the cash rebate?

    Thanks very much.
  • Hello sw1024. Toyota's lease program varies depending upon which one of its twelve regions you are in. I would be happy to give you an idea of what the 2007 4Runner's lease program is like in your area if you tell me what state you are in. Toyota's cash rebates, like the $2,500 that you mentioned, are not compatible with its special lease program. If there is a special lease program available on this truck in your area, you would most likely be better off going with it instead of the cash incentive and a worse lease program.

    Car_man
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