Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Toyota Sequoia Lease Questions

123468

Comments

  • ccapccap Posts: 40
    Well Guys, I pulled the trigger on a Platnium Sequoia.
    MSRP approx 59k
    selling at 51k
    mf.00016
    residual 52%
    3yr/12k miles
    no money out of pocket except first months pmt of $695
    $685 per month including MA sales tax

    Plus they gave me all weather mats and another wireless headset
    I think its a great deal
  • jfn1000jfn1000 Posts: 22
    How much over invoice? I would be looking at or below invoice. Nobody is buying large SUV's. I was going to get a new sequoia sr5 to replace my 4 runner, and was told by the local dealer in MA that all in stock are available at cost.

    Lease customers, act soon, though as you may see the residual values being knocked down. Used large SUV's coming off leases are not selling at anything close to residuals
  • ccapccap Posts: 40
    I got the vehicle 900 below cost and they also included gap insurance, and all weather mats. I used the leasing #'s from Toyota and did not get the 2k cash incentives becasue I was not a previous customer and I am using there MF numbers
  • jason973jason973 Posts: 7
    Where are you located? I am looking for a similar deal in NJ. Any suggestions?
  • jason973jason973 Posts: 7
    Can some of you provide what your lease payments are along with what the retail price is and the negotiated price. I am looking for a Limited with Nav and DVD.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hello ccap. I believe that in most regions Toyota Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2008 Sequoia SR5 4WD with 12,000 miles per year are .00016 and 57%, respectivelt for consumers who qualify for its Tier 1+ credit tier.

    Keep in mind though that TFS places restrictions upon what options can be residualized. This makes it very difficult to calculate the actual dollar residual values for vehicles, so much so that Toyota provides dealers with lists of the residual values for the units that they have in inventory instead of having them calculate them on their own. As a result, it is difficult for consumers to estimate what lease payments should be on Toyota models.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi jmcdermott1. It is definitely not in your best interest to enter into such a long lease. The main reason why it is not a good idea is Toyota's special lease money factor for the 2008 Sequoia is only available for leases up to 36 months in length. If you lease this truck for 60 months, the money factor that is used to calculate the interest portion of your lease payment will be well over ten times higher.

    Also, a lot can happen over the course of five years to make you want to get out of your lease, yet doing so will likely be very expensive. Your commute could change causing you to go way over your mileage allowance, your lifestyle could change causing you to need a different type of vehicle, gas could go to $6 per gallon causing you to pay an arm and a leg to fill up your Sequoia, or you could just plain get sick of it. I always advise consumers to stick to 36 to 39 month leases if possible.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi ccap. It usually takes a couple of days for community members to get answers to their questions from either myself or other knowledgeable people. It pays to ask your questions ahead of time. In most regions, I do not believe the $2,000 customer cash incentive that Toyota is currently providing on the '08 Sequoia is compatible with its special lease program. However, Toyota is providing another $2,000 incentive to current Sequoia owners and lessees that might be available on leases.

    The market for large SUVs is absolutely dead right now. If you are in an area that has a decent level of competition, I don't see why you wouldn't be able to get a Sequoia for right around dealer invoice minus any available cash incentives.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • cottingercottinger Posts: 6
    Does anyone know what the current money factor and residual% is for a 2008 Sequoia Limited 2WD for 36/12K?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome, jmcdermott1.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Greetings cottinger. Toyota's lease program for the 2008 Sequoia varies depending upon which one of its twelve regions you are in. You never mentioned what state you are in, so for now I will provide you with this truck's program for its New York region. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of an '08 Sequoia Limited 2WD with 12,000 miles per year are .00084 and 48%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Keep in mind that TFS places restrictions upon which options can be residualized. This makes it much more difficult to calculate actual dollar residual values for vehicles that are leased through them than it is with most banks.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • silverap1silverap1 Posts: 1
    Does anyone know what the current money factor and residual% is for a 2008 Sequoia SRS 2WD for 36 months/12000 miles?

    I'm in Texas

    Thanks
  • Anyone know the August RES and MF on both the SR5 and Limited 4WD SEQUOIA in the NY Metor Area?

    Also on a lease how low should I be shooting for as a cap cost?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hello layersnj. Here's the information that you're looking for. You never mentioned how long you want to lease for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Toyota Financial Services' current NY region buy rate lease money factor and residual value for a 36 month lease of a 2008 Sequoia SR5 4WD with 15,000 miles per year are .00084 and 51%, respectively. The numbers for an otherwise identical lease of an '08 Sequoia Limited 4WD are .00084 and 46%.

    The market for large SUVs like the Sequoia is absolutely dead right now. If I was in the market for one I would shoot for a selling price that's very close to dealer invoice.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • tgoodelltgoodell Posts: 19
    Hi Car Man-

    I've never leased before and have a question re: leasing an '08 Sequoia Ltd or Platinum. I'm in NJ, and am looking at whether or not I can swing a lease deal on either model while keeping to a payment of as close to $500/month as possible for a 36 month/15k lease. Can't swing much more than $6k down payment. From reading your comments, it sounds like "invoice" or slightly below is the best anyone can do right now. Can you pls confirm?

    It's my expectation that we'll fall in love with this truck and probably want to buy it out at lease-end. Does this ever make good financial sense--especially if I haven't gone over on mileage?

    Would prefer to buy, but just don't have that kind down payment at the moment.

    TIA, Tim
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi Tim. Since you hve never leased before, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    I see that you are considering making a $6,000 down payment on your lease. Making large down payments like this on leases is never a good idea. Consumers who do so risk losing the money that they put down if their vehicle is stolen and never recovered or totaled in an accident. Even though it means that your monthly payment will be higher, you would be much better off keeping that money in the bank.

    Dealer invoice before the application of any available cash incentives is definitely the price to shoot for on a Sequoia. In your area right now, I believe that Toyota is providing a $1,500 "bonus cash" incentive on this truck, which is compatible with its special lease program. Shoot for $1,000 to $1,500 under invoice after this cash is taken into account.

    Whether you should purchase your truck at lease-end depends upon what its purchase option price is at the time and whether it is higher than what an equivalent used Sequoia would go for on the open market. There's no reason to pay significantly more for your truck at lease-end than you would have to pay to buy a used one.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • tgoodelltgoodell Posts: 19
    Thanks very much for your reply, Car Man. I've just read the articles you noted...much appreciated.

    I don't mean to monopolize the forum, but you've got me thinking that buying may be more feasible than leasing--assuming I wait until I can put down an add'l $10k.

    Fyi, I'm looking at an '08 Limited with sunroof and Rear Entertainment System which TMV Pricing is showing as $46,724 (MSRP is $51,675 and Invoice is $45,849) not including any cash back or rebates. In addition to the $3000 rebate, I **believe** my dealer is also offering an add'l $1000-1500 "bonus cash" lieu of the 0% financing, although the Low APR vs. Cash Back calculator is still showing I'd save more money by going with the 0% APR option. Unfortunately for me, "Finance" is was never my strong suit....thank goodness for these calculator tools!

    At the end of the day, I'm surprised Toyota isnt dealing more on these behemoths right now as let's face it--there's very few of us buying this type of vehicle right now, and the 2009's are on their way. Thanks again for your help...will keep you posted on my purchase. -Tim
  • You're very welcome, Tim. You're not monopolizing this discussion at all. The more posts, the merrier :) . I know that the Edmunds.com TMV for the Sequoia that you are interested in is above dealer invoice, but if I was interested in getting this truck right now I personally would shoot for invoice minus any available cash incentives and see what happens. The market for large SUVs like the Sequoia is absolutely dead and this should work to your advantage during negotiations.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • can you tell me the name of the dealership that you bought your seqoia plat from ccap?
Sign In or Register to comment.