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Toyota 4Runner Lease Questions

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  • kyfdxkyfdx Posts: 27,613
    Right now.. the bank owns your vehicle, and technically, they are the ones who paid the sales tax on your lease.

    So, it pretty much doesn't matter where you live... Unless the state doesn't charge sales tax on used cars, you'll have to pay the tax again if you want to buy it.

    Which is why leasing cars in Illinois can be a bad deal.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Thanx kyfdx. I'm just reimbursing the bank for the sales tax. This means the bank bought the car from the dealer, which bought the car from Toyota, which in this case owns the bank. I'll have to check AZ to find out what their program is. Maybe they'll credit me with the sales tax I paid to IL. lol !
    Thank you again: you were helpful when I leased the truck two years ago.
    DQ
  • stillystilly Posts: 7
    Looking for the most recent Money Factor for a 3 yr lease. 10k 12k 15k per year. Thanks for the help.
  • newdavidqnewdavidq Posts: 146
    I just received a letter from the local dealer where I leased my 07 V6 4R inviting me to come in and buy or lease a new vehicle and in so doing replace my present lease and get a new vehicle at the same payment or even less. I have 11 mos left on a 36 mo lease and I will probably be over my 36000 miles allowed by 4 or 5K (@ 15 cents/mile)
    I don't see how this would be possible, but I'm curious. I might like to get a V8 4R as I could use the extra power for towing. I can only assume they're targeting any leftover 08s they might have in stock. What are current money factors and residuals from Toyota Finance in the Chicago area? Thanks much.
    DQ
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi stilly. Toyota is not currently providing any lease support on the 4Runner. As a result, if you were to lease one through Toyota Financial Services right now, you would have to use its standard lease program. TFS' current buy rate standard lease money factor is .00295 for consumers who qualify for its top aka "Tier 1+" credit tier.

    TFS' residual value for the '09 4Runner SR5 4WD (they vary by trim level, let me know if you're interested in something different) is 45% for a 36 month lease with 15,000 miles per year. The residual value for a lease with only 12,000 miles per year would be 2% higher.

    Keep in mind though that unlike most banks, TFS places strict restrictions upon what options can be residualized. This makes it very difficult to calculate the dollar residual values for specific units. So much so that Toyota provides dealers with a list of the actual dollar residual values for the vehicles that they have in stock rather than relying upon them to calculate them on their own.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi newdavidq. If you still have eleven months left on your current lease, chances are that you will waste a significant amount of money getting into a new vehicle now rather than waiting until the scheduled end of your deal...regardless of what the letter that the dealer sent you said. They are probably just trying to sucker you into getting something new earlier than you should.

    Car_man
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  • newdavidqnewdavidq Posts: 146
    Thanks, Car man. I was pretty sure it was a sucker play but good to get your spin. Money factor and residual not so good either, so no new car for me.
    Regards, DQ
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, newdavidq.

    Car_man
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  • joepojoepo Posts: 10
    Hi, Car_man - can you please provide current lease rates/residuals for a '10 2WD 4Runner 2WD SR5, 36 mons,10K miles/yr.

    Thanks!
    Joseph
  • Hey Car Man.........Could you give me any leasing info about a 2010 4Runner, Limited - base model, no add ons. 2WD, 6cyl, 36 month, 12,000 miles/yr, Louisiana registration. The MSRP is about 38,000.00. Do you have a leasing formula that actually works?

    Thanks, Jim
  • Hi

    Anyone lease a 2009/2010 toyota 4runner? Just curious on the monthly lease price. Also, please post the model and the state location. Never had a 4Runner before but thinking of leasing a 2010 SR5 or Trail.

    Thank you
  • Hi joepo. Toyota is not currently providing any lease support on the 2010 4Runner. As a result, if you were to lease one through its captive finance company, Toyota Financial Services, right now you would have to use its standard lease money factor of .00265 (for consumers who qualify for its top aka Tier 1+ credit tier).

    The '10 4Runner was a late into, so I haven't seen TFS' residual values for it yet. To be honest with you, TFS' residual value percentages are fairly worthless anyhow because it places restrictions upon what options can be residualized. This restriction makes it very difficult for individual consumers to calculate the dollar residual values for specific units.

    Car_man
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  • Hello jelgin. Toyota is not currently providing any lease support on the 2010 4Runner. As a result, if you were to lease one through its captive finance company, Toyota Financial Services, right now you would have to use its standard lease money factor of .00265 (for consumers who qualify for its top aka Tier 1+ credit tier).

    The '10 4Runner was a late into, so I haven't seen TFS' residual values for it yet. To be honest with you, TFS' residual value percentages are fairly worthless anyhow because it places restrictions upon what options can be residualized. This restriction makes it very difficult for individual consumers to calculate the dollar residual values for specific units.

    Check out the following article for the formula that you're interested in: Calculate Your Own Lease Payment.

    Car_man
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  • What do you mean by "lease support"... discounts?

    I've been getting lease prices for an '10 SR5 4x4 - with a sticker range of 34-36K... and the payments have been significantly higher than I anticipated, ranging from $560 to $700 per month for a 3yr/36,000 w/ no money down. The dealership with the $700 price thought I was crazy when I told them another dealer in the Denver area was a $140 less a month. Fun!

    I'm a bit perplexed because a '10 Lexus ES basic model had a sticker of 35K - lease payment of $379 (w/ 3799 down) or $485 w/ no money down. I understand residual values and such... but surprised at the significant price difference.

    Does anyone know if Lease Brokers can get me closer to where I want to be? Around 485-500.00 or am I just dreaming? :confuse:
  • Hi fxoffroad. Lease support and dealer discounts are two different things. Consumers should always negotiate a discount on the selling price of the vehicle that they are interested in with dealers. By lease support I mean an attractive money factor (a form of interest rate) that the manufacturer is providing on the vehicle.

    Much like cash incentives or those attractive low finance rates that one sees advertised all over the place, automakers often provide supported low interest rates on leases. Toyota is not currently providing any support at all on the 4Runner.

    $700 per month to lease a 4Runner is absolutely nuts. I realize that this truck is more expensive than it used to be when it was redesigned a number of years ago, but still.

    I'm not personally a big fan of auto brokers. There's no reason why a savvy consumer can't negotiate as good a deal on a lease on their own as a broker would. In fact, introducing a broker into the equation just adds another party that has to profit from your deal.

    Car_man
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  • Car_man - thanks for the reply. Perhaps I'm just not savvy enough to score a good price on a 4Runner... though on my '08 Leased Outback, I got a great deal at a very low price... ultimately, I may just need to do more internet shopping for the best price??

    On Friday I went to two dealerships in Colorado:

    The first dealer for a Limited w/ Nav: MSRP: $42,938; Selling price: $41,335; Residual $23,982; Money Factor .0025; Denver Sales Tax 7.75%; Doc Fee: $339; Cap Reduction/1st Payment: $2,000 - the monthly payment on 3yr/36,000mi was $732. Just nuts... the other dealer was at $720per month before tax. I just laughed. Am I missing some mysterious component to the equation? Or is this just serious padding???

    When I ran the numbers on LeaseGuide.com - the above $732 price came in at $644. (Where did that other 88 bucks go?) If I price the selling price $39,600 (which is approximately the invoice price and it looks like others have purchased @ inovice)... the payment was about $587. Is this number in the ballpark, or where should I be?


    Thanks again for your insight. Greatly appreciated.


    Is it reasonable to think that dealers are moving them fast enough that they don't need to see them @ invoice? Or I am just being sucked into the hype?
  • No problem fxoffroad. Seven hundred bucks per month to lease a 4Runner. Sheesh, I knew that it wasn't a good truck to lease, but that's nuts. Part of the problem is that Toyota Financial Services calculates vehicles' residual values differently than other banks. The residual value percentages that it publishes are for base vehicles without any options. It places restrictions and caps upon what options can be residualized, in effect making its real world residuals lower than its published percentages appear.

    My advise is, if you want to lease a truck go with something other than the 4Runner.

    Car_man
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  • Hello everyone. My wife and I may be in the market for a new vehicle. It's actually for the wife, but since I have an Avalon this new vehicle will have to be able to pull a pontoon boat. She's narrowed down her choices to 2: either a Toyota 4 Runner or the Gmc Acadia. Drove the acadia last saturday, asthetically it's pleasing to look at inside and out, but to me, it seemed to be made of cheap materials on the interior. Actually havent driven the 4 runner yet, that happens this coming saturday. Wanted to know what each of you thought about these vehicles, and are there any current issues going on with either of these vehicles. I appreciate your help.

    Roland
  • Car_man... I think you missed my question...

    I wasn't asking you to help me decide which vehicle is right for me - that's already been decided; and its not about how TFC (Toyota Financial) calculates the residual value...

    ...its about the seemingly large discrepancy in the numbers.

    Luckily I'm not in a hurry and can shop the lease deal a bit more.
  • Toyota is typically ridiculously high on their leases. Car Man was trying to explain why. Partly it's because of their high money factors, usually .00250, and partly due to the fact that they don't allow most options to be residualized. That 4Runner may have $7500 in options but only $1000 is able to be counted towards residual value.

    In other words.....BUY IT.
This discussion has been closed.