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Toyota 4Runner Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on your new truck, bigblock66. Thanks for taking the time to share the details of your lease with everyone. You're right, the strange way that Toyota Financial Services calculates vehicles' residual values makes them not quite as attractive as they initially appear. Enjoy your new ride!

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi stsmythe. A base 2006 Toyota 4Runner SR5 2WD has a spread of just under $3,000 between its full MSRP and dealer invoice price. You were quoted a discount of $1,000 on the truck that you are interested in. If you are in an area that has a decent level of competition, I would not be surprised if you were able to beat this price. You may want to stop by the following discussion to see much much money other community members have paid for similar trucks lately: "Toyota 4Runner: Prices Paid & Buying Experience". The money factor that you were quoted looks good.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jamesbbeam. You can call me John Daniels. I would be happy to give you an idea of what this truck's lease program is like right now. However, Toyota's lease program often varies depending upon which one of its twelve regions one is in. As a result, I need you to tell me what state you are in before I can help you out.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey stsmythe. The .00055 special lease money factor that Toyota was offering on this truck in July was extended through the end of August in most regions.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mdxmew. Manufacturers' special lease money factors are completely different than their special financing rates. Sometimes they are better than an automaker's special APR and sometimes they are worse. One can convert a money factor into an approximate money factor equivalent by multiplying it by 2400.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi again mdxmew. Manufacturers do not advertise vehicles' special money factors. Consumers find out about them by asking dealers or by reading forums like this one and sharing information with each other.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome, fsufan. Congratulations on your new truck.

    Car_man
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  • Thanks Car_man!
  • dman090dman090 Posts: 4
    Couple of questions I have for people here. It seems the MF (Tier 1+) in the Chicago area went up to .00142 (3.4%) from last month's .00055 (1.3%). Thats a delta of about $50 per month on the 06 Sport V6 4x4 I'm looking at. Is there any history/rhyme/reason to TFS's lease rates? My hope is that if I wait out the current month (ending Sept 5th), next month will be better with the new model year quickly approaching, but I feel this is like interest rate gambling...
  • suzintnsuzintn Posts: 19
    Does anyone know what this is for August?

    Thanks

    Suz
  • suzintnsuzintn Posts: 19
    Dman the money factor is .000142 which is less than last month. You were missing a zero.
  • My local toyota dealer is doing a $289 lease special with $2200 down on the base SR5 4runner.. I have never leased a car. Could I get one with no money down???? I know the 4runner has a 3k difference in invoice and msrp... thanks for the help
  • If you read my post 15-20 posts above this one I detail my lease with nothing down and $315/mo + tax. Great deal but there were a couple more even better posted here. I'd never pay a down payment leasing a car.
  • Do you happen to know what the current deal is for a 4runner in NJ ? I'm looking to replace my 1996 Audi A4 2.8L (book around $4500) Would they consider that as a down payment ? I'm thinking the SR5 4WD V6 with some options would suit me perfect. Any advice or help would be greatly appreciated !! :D
  • galevin... the 4runner you got is 4wd and has a sunroof and yada yada... Do you think I could do a Base sr5 no extras for no money down and $289 a month
  • I have the same question: I live in South Florida, looking to lease a 2006 4Runner. In my area lease is through SE Toyota Finance (SETF) rather than Toyota Financial Services. The current deal on a base-no extra-2WD 4Runner is $289 per month, $2200 down, 48 mos. I have 730+ credit score and Id prefer no money down. Any experiences?
  • I went today to lease my 4runner. I checked my score last night and it was 741(transunion). I worked out an ok deal $1000 Down total.. sr5 with 2k in options for $319 a month.. When they ran my credit, it was 662 (trans union), almost an 80 point decrease from the night before...this disqualified me for the lease special...in an earlier post a guy in the same situation got his score bumped to 720 from 666 from a dealership in Indiana. Will going out of SET toyota make a difference? Please advise
  • aceonthebeach3 how can the credit score change 80points overnight?

    What was your residual and interest rate? They quote me
    56.57% residual and 0.00204.

    Is your $1000 down final amount due at signing and $319/mo
    include tax?
  • I don't know what the residual or intrest rate was... I don't understand residual this is my first lease... I thought it was a good deal... When we started talking price the salesman asked me my credit score and I told him 741 and we did not find it to be 662 until later... the $1000 down was everything, taxes, title, first month etc... it was everything.. I still could have got the lease it was going to be $70 higher...Is it possible for a dealership to "bump" people to a tier 1?????? I am in southeast toyota.. I saw a post on here that s.e.t. is different than anywere else in the usa with how they do finance
  • This could be a dealers trick to get more money.
    You should have got a print out from Transunion
    and pulled out your own credit score with 741 and
    asked why the dealers was different. Their excuse
    would probably be that "credit agencies display
    better scores to consumers than to businesses".

    On the other hand, I know that the scores from the
    three companies vary. If you are certain that the
    others have higher scores, just tell them to pull
    another report from someone else. Usually they can
    and will.
  • i had the print out with me and I showed it to him and he said exactly the samething...."credit agencies display
    better scores to consumers than to businesses... I called transunion and they said different companys score different ways..I had them pull a different one and it was 665 so I don't know... I thought it was one of their tricks but it has been 2 days and no call back.... I guess I really have that low of a score... I will close out some cards and try again... I am going to go out of s.e.t... Well thanks for you help
  • I was told that the score could be one number at one dealer and another number at the next. So shop around. Having your credit pulled too many times can have a negative effect but just a few won't really hurt.
  • I'm the guy whose wife had the 666 credit score. I can assure you that the dealers want to move these and all it will take is to either email or call dealers in your area with the details you provided to us and someone is going to get you into a 4Runner. Guaranteed.
  • You're welcome mary3kids.

    Car_man
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  • Hello Carman and Everyone,
    Is $1000 down - $310/mo a good deal for 48mo/48K mi lease
    of 2006 SR5 with $2000 in options in Southeast area? TTL and tax not included. They do not want to reveal their MF and residual rates to me.
  • Hi nomatter. You never mentioned the selling price or MSRP of the 4Runner that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion on this deal if you let me know what these numbers are.

    Car_man
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  • Does anyone know what the "lease special" will be for the month of October in New Jersey? I know for September it was 2000 cash back.
  • Hi jana822. Most manufacturers' incentive and lease programs are scheduled to run through October 2nd. I expect to be able to find out what Toyota's new October incentive program is like for your area on Wednesday. Please feel free to check back with me then and I will be happy to give you an idea of what it is like.

    Car_man
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  • Will someone help me with the best way to lease??? I am new, so money factor and all that stuff is foreign to me... What are the steps to getting a good lease?? How do I do the lease math???... thank you to whoever shows me the process.....thanks
  • mt15mt15 Posts: 1
    I am negotiating a lease deal(Northway Toyota)Latham,NY. They gave me the following numbers; Negot. price for 2007 4Runner V6 limited 39,700, MF .0029, residual 21,056. Using these numbers, my lease numbers are $694mon (without tax). There number is $545mon. Are the numbers(resid, MF correct)? I'm trying to figure out their angle. Thanks
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