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Toyota FJ Cruiser Lease Questions

CarMan@EdmundsCarMan@Edmunds Posts: 38,515
edited June 9 in Toyota
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Toyota FJ Cruiser. Thanks.

Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey davewest01. As one would suspect on such a new model. Toyota has not been providing any sort of lease support on the FJ Cruiser. As a result, if you were to lease one through Toyota Financial Services right now would will probably have to use its standard lease money factor. I say probably because Toyota's April lease program just expired and it is scheduled to publish its new May program today. I have not had an opportunity to take a look at it yet, but would be more than happy to answer any questions that you have about leasing an FJ Cruiser as soon as I do. Please post a quick reminder for me in this discussion in a day or two and I'll be happy to fill you in on the details of the new May program. Talk to you soon.

    Car_man
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  • davewest01davewest01 Posts: 3
    Hi Car_man,

    Here is the quick reminder you asked for regarding the FJ Cruiser lease numbers.

    Thanks,
    davewest01
  • davewest01davewest01 Posts: 3
    Car man - Have you had a chance to look up the current residual value and money factor for a 36-month/12K mile FJ lease?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I've finally seen Toyota's lease program for the FJ Cruiser, davewest01. If you were to lease a 2007 Toyota FJ Cruiser AWD through Toyota Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00265 and 71%, respectively assuming that you qualify for TFS' Tier 1+ credit tier.

    Car_man
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  • qbrozenqbrozen Posts: 17,150
    Wow!! That's an incredible residual value! Especially for a vehicle with no historical data to go by!

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • jlh6jlh6 Posts: 1
    How can I get a lease for those rates?! Today I was offered a .0279% money factor with 42% residual value!! The rest of the terms (tier 1)were the same.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    It is an amazingly high residual, qbrozen. The problem is that it is the residual value for a base vehicle. Toyota Financial Services places limits upon which options can be residualized and caps on the ones that it allows. So this truck's real world residual isn't quite as good as it initially appears. It is still very solid though, especially for a vehicle with such a love it or hate it styling like the FJ Cruiser that has no history to determine how well the public will receive it.

    Car_man
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  • (Yes I'm the same guy who is also considering an 06 jetta gli...sounds crazy huh!?)

    I recently went to a local toyota dealer in the NYC suburbs interested in leasing a new 07' Toyota FJ cruiser. The FJ in question was pretty well-loaded and had an MSRP of $30008. He gave me the following numbers for a 36-month lease with 15k miles per year. He also suggested that buying it might be a better way to go. Figure 8% NY State income tax. Let me know if this makes sense to you:

    Lease:
    .0028 money factor,
    $18191 end of lease purchase option (which he said equates to a 61% residual),
    $0 down other than inception fees,
    $530 per month

    Buy:
    $1500 down payment
    7.9% interest
    $621 per month x 60 months

    Sound about right or too high? Does either option seem like the better deal? Thanks for your help.
  • i just was offered the following lease deal on an 07 black fj cruiser. $1,700 up front, includes tax tags registration, cap cost etc. 36 months/12k, $515-a-month. the car is pretty mich loaded with an msrp of $32,228. it has the cq convenience , upgrade 1, c7 convenience, c8 convenience (rock rails), z2 accessory, wl lock set, v5 security rs3200, trd exhaust. 38 miles on it. the original offer from the dealer was $2500 upfront and $540 a month. major phone negs back and forth resulted in the deal listed above. is this a great deal, a middling deal, or a lousy deal. all comments appreciated and thanks in advance.
  • Hi, I am looking to lease FJ and I was wondering if you can tell me if this is a good deal on 36 month lease. Thank you in advance!

    MSRP- $28350
    Sale - $2740
    Due at signing - $2400
    Money Factor - .002850
    Residual - $15745
    Monthly payments - $419

    Thanks again!
  • Hi drewski3. A base 2007 Toyota FJ Cruiser 4WD with an automatic transmission has a spread of around $2,100 between its full MSRP and dealer invoice price. If by "Sale - $2740" you mean that you were offered this truck for, $27,400 you are only being given a $950 discount on it. This is a little over $1,000 over dealer invoice. I am not intimately familiar with what the market is like for this model right now, but there is some room to play with here. It would be a good idea to stop by the following discussion to see how much other community members have paid for similar trucks lately: "Toyota FJ Cruiser: Prices Paid & Buying Experience". As far as the money factor that you were quoted goes, it is right in line with Toyota Financial Services' current buy rate for this model. Overall, I would say that this is a decent deal, but check that other discussion to see if anyone has gotten this truck for less.

    Car_man
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  • yojediyojedi Posts: 5
    Hi Car Man,

    I am also considering leasing a FJ. Do you have the most recent Toyota standard leasing terms available? Much appreciated.
  • Hi yojedi. As you suspected, Toyota is not currently providing any sort of lease support on the FJ Cruiser. As a result, if you were to lease one through Toyota Financial Services, you would have to use its standard lease program. TFS' buy rate standard money factor varies by region, but it should be around .00285 for consumers who qualify for its Tier 1+ credit tier. The FJ Cruiser's residual values vary by trim level, term, and mileage allowance. If you provide me with this information I will be happy to give you an idea of what the residuals are like for the model that you are interested in.

    Car_man
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  • rollbarrollbar Posts: 297
    Is there really much difference in the residual value of a fully loaded vs base FJ over 3 or 4 years?

    Roll
  • Car Man:

    You helped me out with a passat back in 2004, hoping you can help me now. Looking to get into a loaded FJ 4x4 (upgrade 2, off road package). What can I expect for money factor and residual in the Denver area. Assuming I qualify for tier 1.

    Thanks,
    vdubdude
  • Hey Roll. Toyota Financial Services' current residual values for the AWD FJ Cruiser are 2% higher than its residual values for the 2WD version. These residual values are only for base models though. TFS places limits on which options can be residualized and caps on the ones that it allows. As a result, the lease payments of fully loaded vehicles through TFS can be fairly expensive.

    Car_man
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  • Welcome back vdubdude. Unfortunately, Toyota is not currently providing any lease support on the FJ Cruiser. 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' standard buy rate lease money factor varies by region, but it should be around .00285 or so for consumers who qualify for its Tier 1+ credit tier right now. Its residual values vary by term and mileage allowance. 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. TFS' current 36 month, 15,000 mile per year residual value for the 2007 FJ Cruiser AWD is 65%. The problem is that TFS only publishes residual values for base vehicles. Unlike most banks, it places restrictions upon which options can be residualized and caps on the ones that it allows. As a result, it is often difficult to figure out exactly what the residual value should be for a specific vehicle.

    Car_man
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  • Thanks for getting back to me. I pulled the trigger on Saturday before.

    I got my FJ in Greeley, CO. I qualified for Tier1, they gave me .00295 money factor and only 46% residual for an FJ with: AT, upgrade 2, convenience and accessorie package (ie tow hitch). I was greatly disappointed in the residual, but they showed me a spreadsheet that they said Toyota published and that was the rate. That was for a 48 month lease/12K miles.

    The good news, I'm driving a vehicle that puts a smile on my face!
  • It looks like Edmunds.com also uses about a 46% residual- am I right in assuming the residual may change based on location? I am looking at a manual with only the convenience package and the 17 in wheels- I'd hope to have a higher residual over a 36 mo/12k lease.
  • Greetings:

    I am new to this forum and have never bought a new car before and I'm as nervous as a cat with it's tail under a rocker. I have signed all the paperwork at Joe Meyers in Houston, but have not taken delivery - will do that on Saturday - and so there is still room to manoeuvre a little bit. So, a few questions if you don't mind.

    1. The type of lease I am getting is a "Closed End Motor Vehicle Lease Agreement - Texas". Is this a good lease?

    2. Do I need or would you recommend Optional Mechanical Breakdown Protection or Optional Maintenance Agreement?

    3. The FJ is being brought down from Dallas (to Houston) and the total purchase price of the vehicle is $28936 for a 4 x 4 manual FJ with alloy wheels, convenience package, Steel exhaust tip, window tint, Option B package, Extra Mile option package B and Vehicle Shield Package. Due at delivery is $4500 which includes tax, title and license and 47 payments of 476.61 with the total of monthly payments 22877.28.

    Am I being taken for a ride or is this a fair deal? Also, what about all the insurance options? So far I have only take Gap insurance which is not mandatory in Texas.

    Thanks for your help.
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