Toyota 4Runner Lease Questions

Hi everyone. Please use the following discussion to post any questions that you have about leasing a Toyota 4Runner. Thanks.

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  • saw someone posted the lease rates on an 05 in price paid buying experiences. Does anyone know the October rebates(1500 and 3500) on 05 4 runners (v6 and v8) are valid on the lease deals as well? Saw lease rates at .00044 and .00022 are those correct as well?
  • Hi fasteddy001. I do not believe that Toyota is providing lease support on 2005 4Runners any longer. It seems to have switched its special lease program for the month of October overt to the 2006 model. If you let me know what state you are in, I can tell you what its special lease program is like on the '06 4Runner in your area.

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  • tai1tai1 Posts: 6
    Dear Host,

    I am in Indiana. Could you please tell me the leasing program on the 06 4runner,
    v6 and/or v8? Many thanks.

  • Hi tai1. Toyota just introduced its new November lease program for your area yesterday. I have not had an opportunity to take a look at it yet, but suspect that I will be able to within the next couple of days. Please post a quick reminder in this discussion for me later on this week and I will let you know what I have been able to find out about this truck's new lease program. Talk to you then.

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  • Car_man
    I live in New Jersey,looking to lease a 2006 4Runner.Could you please let me know of any special lease programs on this vehicle,thanks for your help.
  • Car_man,

    Please post the November MF and Residual % for 2006 4Runner Limited. 3yr/15k mile.

  • Hi yankee-feather. Yes, Toyota is running a special lease program on the 2006 4Runner in your area this month. The residual values that are associated with this program vary depending upon exactly which trim level you are interested in, how long you lease for, and how many miles per year you are allowed to drive, but the special lease money factor is .00119 for up to 36 months for consumers who qualify for Toyota Financial Services Tier 1+ credit tier.

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  • Hi tiger93. Toyota's lease program varies depending upon which one of its twelve regions one is in, but in most of the country if you were to lease a 2006 4Runner Limited 4WD through Toyota Financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00119 and 58%, respectively.

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  • dima1dima1 Posts: 19

    I see from previous posts that the money factor and residuals for 4Runner are .0019 and 58%. What about lower miles leases. I can settle for 10,000 miles or 12,000 miles.

    Is there a difference in rates for SR5 with package C (3rd seats) priced around 30K, and Limited with same options prices around $36K?

    Thank you,
  • Hi - Does this program also apply to south Florida - specifically the Fort Lauderdale area? Thank you
  • cjericcjeric Posts: 23
    I'm looking at the lease incentive for the Sport Edition 4dr SUV 4WD (4.0L 6cyl 5A), and I wonder if this is a good deal. With a money factor of 0.00119, and residual value of 20,990 it has a fairly low lease payment, but I'm somewhat concerned about the cap cost. The base cap cost is $32,288, which seems a little high since it's right at MSRP according to this site. I can use the $1000 coupon and another $400 in other incentives to bring down the cap cost to 28,590 with a down payment of 2,600.
    Should I be able to negotiate down the cap cost price, or is that pretty set on deals like this? Thank you.
  • :confuse: What would be a fair monthly payment to expect when leasing a 2006 SR5 2WD? The only options that I am adding will be the power moonroof and post factory leather. The MSRP will be approx. $30,000, while the AAA/COSTCO Fleet Manager will sell me the vehicle for $28,500. Zero down, approx. $1500.00 drive off, 36 months, 12,000 miles.

  • Can anyone tell me what the money factors are for the lower tier borrowers for the '06 4Runner. Thanks, Scott
  • I would like to know the money factor and residual value for a 2006 4WD V6 SR5 and SR5 Sport through Gulf States Toyota. 36 or 48 month lease. The Toyota website says there is a special lease on these vehicles. Thank you.
  • kd232kd232 Posts: 5
    I found on a Toyota dealerships' website that the new lease incentive for January for a 4Runner is a money factor of .00055. Can anyone confirm this??
  • I called my dealer to check on the new lease program for the 4Runners and he confirmed that the new money factor is .00055 (1.32%). We just leased an '06 in November at the old rate of .00119 for my wife. I'm in the process looking into a new car also and might look into getting another 4Runner - that's a great rate!
  • kd232kd232 Posts: 5
    I just called a local dealership and they confirmed .00055. That is a great deal.

    I've been shopping around Austin and been having a difficult time getting any dealer to play ball. The dealers here are doing well selling SUVs...I guess.
  • bodhi2bodhi2 Posts: 5
    Can anyone please post their great lease deals in detail for an '06 Limited V8 Loaded with 3rd row seats. Looking to lease in the Chicago area.
  • I'm also interested in the same vehicle in North Georgia (06 limited V* Loaded with 3rd seat). I have read where the money factor is now .00055 (wow) does anyone know what the residual is? Info on recent deals with recent cars would be helpful. Thanks so much
  • 2006 Toyota 4Runner SR5 4dr SUV 4WD (4.0L 6cyl)
    3 yr. lease, 15k mi./yr
    (Central N.Y.)

    MSRP ............. $32,701
    Negotiated price:.. $29,201
    Lease rate......... .00045 (Tier 1 + Encore, high FICO)
    Residual........... $18,695 (57%)
    Money down.......... $432.24 (1st pymt + DMV)
    Monthly pymt........ $359.36 (Gap ins. included)
  • cjericcjeric Posts: 23
    That sounds like a great deal. How much is the gap insurance by the way? Also, does anybody know what the residual is for the same deal with 12k mi./yr.? I was looking at the current offer Toyota has, and it seems to be 58%, but I just wanted to verify that. Thank you.
  • Hi cwakefield. You probably aren't going to want to hear this, but I believe Georgia is in Toyota's Southeast region. As you may or may not have hears Southeast Toyota is an independent distributor that has the exclusive right to sell Toyotas in the Southeastern U.S. SE Toyota even has its own captive finance company. Dealers in your area do not run leases through Toyota Financial Services like the rest of the Toyota's regions do. As a result, a 2006 4Runner leases in the Southeast would not be eligible for the special .00055 lease money factor that is available on most states right now. The money factor for this truck in your area is a much less attractive .00204.

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  • cjeric --

    Gap is not included in the $400 acquisition fee and costs $195 plus a $10 "processing fee." Gap, of course, is a MUST. I don't have the residual figures for 12k because I always go the extra miles (hey, I don't want to be afraid of exceeding the allotted milage when I drive my new car), but if the residual diference is only 1-percent I would counsel you to go with the extra miles, just in case.
  • I live in Charlotte, NC, and I in the market for a 06 Limited 4runner with Navi.

    I am being quoted the following:
    15k miles a yr, 48 mos $599 down and $499 a month for a 4wd with navi LTD.

    Or $599 down and $479 for a 2wd LTD with navi.

    Are these decent deals. The residual is around 23400 I think.
  • Matt --

    You haven't provided the MSRP and cap cost, but your payment seems rather high to me, even for a 36 mo. lease (yours is 48). Remember, the '06 4Runners will go close to the invoice price (I got mine for less than $100 over Invoice) and that means you'll be adding only the dealer's wholesale cost of the navi). And assuming your credit is good, you'll be getting a .00055 (1.32%) lease rate (for a 36 mo. lease). I suggest you negoitate a cap cost of $100 over invoice (check Edmunds or better yet, demand that the dealer show you the actual invoice) and go 36 months -- your residual will be higher, too. Happy hunting...
  • cjericcjeric Posts: 23
    Thanks for explaining about the gap insurance. I know some other make include this, but $205 doesn't sound too bad. It seems odd that the residual would be off by just one percentage point for 9,000 total miles, but like you said, why not get it and not having to worry about going over.
  • cjericcjeric Posts: 23
    I agree with Phil. I was quoted some very high numbers by the dealer as well, so it's best to do your own math to check what the payment should really be. They first offered me a selling price of $30,975, but that was just way too high considering the invoice was right at $29,000, so you need to negotiate a selling price close to invoice like Phil said.
  • well I have taken your advice and given the dealer some information. We will see what their next offer is.

    From deals seen what should I expect to pay?
  • They faxed me an "invoice".

    MSRP 41,872
    "invoice" 37,931

    4wd V6 LTD with NAV, running lights, sunroof.

    still $599 down 48 mos at 499. I think it should be lower.....
  • cjericcjeric Posts: 23
    That does indeed seem way too high. Did they tell you the selling price (cap cost) that they are offering you. Even at full MSRP there is no way that it would be 499/month if the resdiual of 23,400 (it seems somewhat high) is accurate.
    I wouldn't expect to have to pay much more over invoice, but you need to make sure you know the exact residual and cap cost in order to calculate the payments. Is there anything they are adding into the cap cost like a trade-in or any fees?
    For example, if your cap cost is 38,500, the money factor .00055, the residual 23,400, the term 48 months, and the down payment (is this lowering your cap cost or is this your first payment or the acquisition fee?) is 599, your payment would be $336 + tax.
  • tiger93tiger93 Posts: 57
    Some of you may have read my post in the "Prices Paid" thread but if not, here are the details of my lease (note, this is for a 25k mile per year lease):

    3yr/25k mile per year
    Toyota 4Runner V6/Limited
    JBL Synthesis & 6 Disc, DRL's, Tow Pkg, Moon Roof, Spoiler, floor mats.
    MSRP = $39,651
    Cap Cost = $34,850
    MF = .00045
    Residual = $18,843
    Payment = $468/mo before tax.
  • kd232kd232 Posts: 5
    4Runner Sport V8 4x4, with moonroof & extra mile A:
    MSRP 36500
    cap cost 33800
    less $3800 trade in
    residual 20864/15K mi/year
    money factor .00055

    I think I can do better, but am having a really hard time finding any Texas dealership to offer a price closer to invoice. Maybe cap cost includes holdback, advertising fees, etc??
    Any thoughts...
  • cjericcjeric Posts: 23
    I inquired about the SR5 4 x 4 V6 model with an MSRP of 32,641 (same in the current lease offer) at a dealership, and they refused to agree on a selling price below the advertised one of 30,500 since “these deals bring minimal profits to the dealership.” The invoice is about 29,000 for this car, so not a very good offer in my opinion, but it was interesting to hear the arguments they made and they also stated that my calculations of payments obviously were incorrect, even though I know for a fact that they weren’t. To say the least I’m very disappointed with this dealership, and I’m likely to go to another one where they offered me one for the selling price of 29,600 (same car + third row seat, MSRP 33,331).
  • jpp75jpp75 DenverPosts: 1,446

    Which dealership are you using? I'm about to be in the market for a new 4Runner in Charlotte as well.
  • Advertising fees are already included in the Invoice price, and holdback is above & beyond whatever deal you make on the car (i.e., Toyota pays the dealer a set percentage INDEPENDENT of the deal it gives its customer).

    Toyota is offering a $1,500 direct-to-customer rebate on the 4Runners if you purchase the vehicle outright, but if you lease the "incentive" is built into the low money factor (.00055), which is a great rate, indeed. Still, dealers in the Northeast are routinely giving $3,500 off MSRP deals on 4Runners leases, which makes the Cap cost close to actual Invoice price. Your quoted price appears to be about $800 over, which in my opinion is just plain TOO HIGH.

    I'd suggest you look for the largest Toyota dealership in your vicinity and print out some of the good lease deals listed on this forum and show them. If your credit score is high, chances are they'll deal...
  • cjeric --

    One thing's certain: When it comes to purchasing or leasing a vehicle, you WILL GET FLEECED if you don't have the facts, figures and the smarts to sort through the [non-permissible content removed] they're trained to put you through in their never-ending quest to boost their bottom line.

    In this business, the unsuspecting public subsidizes all the good deals guys like us have come to expect. Once you put them on notice that you truly know your stuff, the facade comes down and they treat you like an equal. And when you make your next deal three years or so later, they level with you from the start, and treat you with the respect you should have gotten the first-time-around.
  • asm0721asm0721 Posts: 13
    I just leased a 2006 Sport 4 Runner 4*4, Roof, 6 Disc Changer, Tow Package. 2000 total cash down (Which included acquisition fee and 1st month payment, MSRP of 34,965. I did a 3 year lease, 15K per year. Total payments are 328.00 per month including tax and gap insurance.

    Did I do OK?
  • asm0721asm0721 Posts: 13

    On your lease deal you posted, does that include your sales tax? If so what is your tax rate in your state? Ours in 10% here where I live and I am just trying to double check I got a good deal.

    The only thing that bothers me on my lease, is I noticed my residual value is $21,428. I am not sure how they came up with that value since I thought all residual values were set by Toyota. I did a 3 year 15K lease on a v6 Sport. From my research the residual value should be $20,023. Only reason I am questioning it, is we might consider purchasing the vehicle when the lease is up.

    Is this something I should bring up to the dealer or with Toyota Financial?
  • ASM --

    Based on the MSRP you stated (I assume it included delivery, as is usual), your 3-yr. 15k mi./yr lease residual is over 61.28%, which seems way-too-high but hey, don't look a gift horse in the mouth, as they say. Your higher residual means you're payments are lower, since your monthly lease payment represents depreciation plus interest (lease rate), as well as taxes if you haven't paid 'em up front (BTW -- to answer your question, sales tax where I live is 8%).

    As far as your concern about a high residual, were you to purchase the vehicle at the end of the lease period, here's my take: If your intention was to buy it, you should have done so NOW -- so as to take the extra $1,500 factory-to-consumer rebate -- rather than AFTER the lease period. The overwhelming majority of folks who lease will return the vehicle and get into a new lease: Why make the same payments for a three-year old car when you can drive off in a brand new one, right?

    Judging from your monthly payments and the figures you provided, it looks like you got a good deal. I suggest you enjoy the next three years, return the vehicle when the time's up, and get yourself into another good deal.

    Just my humble opinion...
  • asm0721asm0721 Posts: 13
    Thanks Phil:

    I appreciate it. I didn't even think about the customer cash on the vehicle. You are right, we might as well enjoy the vehicle and in three years get one again. What other numbers would need to verify I did not get taken for?

    I will list what I think you might need:
    Cap Cost: 32,244
    Gross Cap Reduction 1401.45
    Adjusted Cap Cost 31572.55
    Residual Vale 21636.56
    Depreciation 9935.99
    Total Cash at signing 2000.00
    35 monthly payments of 329.93 (which include, tax and gap insurance.)
  • ASM --

    You got a VERY good deal. Your cap cost was slightly higher than you could have gotten where I live (Central NY), but only by about $270 -- and we don't get the overly-generous residual you somehow managed to get (you are using Toyota Financia Services, yes?) on your 3-yr.,15k mi./yr. lease.

    The bottom line is, you're getting an awfully big bang for your buck, here: A 5-yr. (60 mo.) car loan for what you paid for this vehicle plus tax would have come to over $591 -- and that's without penny of interest!

    'Ya did good, my friend...
  • asm0721asm0721 Posts: 13
    Thanks Phil...Thanks makes me feel much better...Yes I did finance with Toyota Financial and got a money factor of .00045 (1.08%).
  • cjericcjeric Posts: 23
    That is very true. Fortunately I went to another bigger dealership in the city, and they offered me a selling price of 29,825 on a 4Runner with a MSRP of 33,512, and an invoice of 30,325. The residual wasn't as great as ASM's, but at 19,593, it was still a better percentage than the other dealership.
    By the way, do you think it's best to get the gap insurance through the dealer or through your insurance agent? Seems like it would be cheaper through my regular insurance company, but I was wondering what you thought. Also, do you know if Toyota allows you to move the vehicle to another state? I'm waiting to hear back from the dealership on this issue...
  • cj --

    So you got a cap cost of $500 UNDER invoice? That's impressive, assuming it's a new '06 vehicle lease (where the $1,500 rebate doesn't apply) and you're going through Toyota Financial Services (where, unlike the dreaded bank leases, they won't nickle-and-dime you when you return the vehicle -- with even greater-than-anticipated wear & tear).

    The residual percentage you quoted seems right on target, cj (57 -58% on a 3 yr. 15k mi./yr. lease), and is much better than the competition (Subaru Ourbacks, for example, have a 51% residual for the same lease package).

    As to GAP, I've always went with Toyota because if I ever totaled the vehicle I wouldn't want to deal with an intermediary (i.e., my insurance company) when settling with Toyota. BTW -- Lots of people don't realize that it's best to put down AS LITTLE MONEY AS POSSIBLE on a lease, since all you'll get if the vehicle is totaled is a "walk-away" from the remainder of the debt -- whatever you've already coughed up as a d/p is "lost." That's why I go "no money down" (except of course 1st payment and DMV fees).

    Typically, the rule on moving to a different state is that you have to get "permission" from the lease company to do so (just like you're supposed to get "permission' to take even a day trip to Canada or Mexico. In reality, few people bother to comply with this bit of obscure "fine print," and I'd bet my last dollar that TFS doesn't care where the heck you go as long as you continue making your payments and return the vehicle by the due date.
  • rog11rog11 Posts: 5
    Hi All,

    I have founded the comments on this thread to be very helpful in understanding the leasing process. Thank you for your insights.

    I'm in NJ, and in the NY area, Toyota Financial Services (TFS) is running a January special on the 4Runner Model 8664 (base MSRP $29,910) with Group B Options (MSRP $2,000) (Options FE AW DR NE RL SR TO CD). Apparently, they are having trouble moving the 4runner--given current gas prices.

    The basic terms from TFS are as follows:
    1. $259.00 per month for 36 months.
    2. $2999.00 due at signing.
    3. Excludes tax, title, registration and acquisition fee. Security deposit waived by TFS.
    4. Money factor 0.000550 (1.32%).

    I have approached two dealers, regarding this TFS Lease Special. Dealer "A" offered the following:

    1. Dealer Cost: $29,587.
    2. Vehicle Markup $500.
    3. Total Cap Cost (Selling Price): $30,087.
    4. The Residual Value was 61%, for an adjusted residual of $19,293.30.
    5. Mileage was 12,000 (there was a mileage adjustment of $598.20 to the residual value).
    6. Each mile above 12,000 was to be charged between .22 and .25 depending upon negotiations).
    7. No Gap Insurance.

    Dealer "B" had substantially the same type of deal:

    1. Total Cap Cost (Selling Price): $30,500
    2. The Residual Value was purportedly 51%, for an adjusted residual of $19,294.
    3. Mileage was 12,000.
    4. Each mile above 12,000 was to be charged between .20 and .25 depending upon negotiations.
    5. No Gap Insurance. (Gap insurance would be an extra $600 for 36 months).

    Do these appear to be "good deals"?

    Second, is it likely that I can successfully demand that the mileage allowance be increased to 15,000 per year, and with any extra miles (beyond 15,000 per year) at .15 cents per mile, at these prices? I am wondering how difficult is it for the dealer to accept this in this type of transaction. Are their hands really "tied" by TFS? Also, what does the mileage adjustment of $598.20 to the residual value mean (i.e., does this mean that they normally do 15,000)?

    Third, how likely is it that I can successfully demand gap insurance be included, at these prices?

    I understand that someone obtained gap insurance on this thread for $195 plus $10. Is $600 for gap insurance for 36 months reasonable?

    Finally, what are I my chances of getting one of the dealers in the NY area to accept the terms of this lease, plus 15,000 miles (.15 extra), and gap insurance, plus an Echomaster installed (purportedly worth $400 or so from the dealer)?

    Any comments or suggestions would be greatly appreciated.
  • tiger93tiger93 Posts: 57

    Here are a few thoughts: first, I would suggest putting the minimum down on a lease. The minimum down would include 1st month payment, acquisition fee (if any), tax, title, and license. The first dealer quote you listed is asking for $2,999 due at signing which includes some fluff.

    I wouldn't worry about negotiating residual values because those are set by TFS.

    As far as the mileage, I'm not certain if your market on the east coast is the same as the midwest, where I just leased a 4Runner Limited, but in my case, TFS allowed me to "buy" additional miles up front at the rate of $.10 per mile. If I were to pay for these miles in the form of a penalty at lease end, they would cost me $.20 per mile. The mileage penalty is also set by TFS so I don't believe you have the ability to negotiate down to $.15 for excess miles. Your best bet is to insist on the 15k miles and force the dealer to take the cost of them out of his margin.

    I got the 4Runner with a cap cost about $500 below invoice, a money factor of .00045, and 25k miles per year. Due at signing was $1,001 with a monthly payment of $468 before tax.
  • cjericcjeric Posts: 23
    Yes, the selling price was 500 below invoice, so I can't complain about that one since it's a -06 vehicle through TFS.
    I will inquire about GAP to see what they offer. You mentioned you got it for $195 + a $10 processing fee, so that doesn't seem unreasonable. As far as money down, I even have the option of rolling in the first payment and DMV fees into the cap cost so there would be zero due at signing, but that doesn't matter so much. Like you said though, you don't want to make a cap cost reduction.
    Thanks for the advice regarding the "permissions." That make a lot of sense, just didn't want to end up in some major trouble :-)
  • jpp75jpp75 DenverPosts: 1,446
    I have been asking several dealers in the Charlotte area for quotes on leasing an SR5 V6 4x4 with only a moonroof and side airbags. So far out of 3 responses I have gotten:

    Dealer A:
    The MSRP is 33,978.77 on this vehicle

    Selling Price - $33,727.10 - represents dealer invoice
    Money Factor - .002440
    Residual - $19367.90
    Cap Cost - $31,151.89
    Payment - $464.00
    36 months 15k miles per year.
    I do not understand how dealer invoice is only $250 below MSRP. I have asked for clarification but that is not right to me.

    Dealer B:
    For a 36 month lease, 15K miles a year,
    1st payment down you would be at 489 a month.
    Cap Cost is 31665.00,
    money factor is 2.34,
    and residual is 18809.00.

    $489 a month is by far the highest I've seen so far.

    Dealer C:
    Residual = $18581.87
    Money Factor/Rate 1.93
    MSRP is $32599.77 Cost of vehicle is $30,400.04 plus the 2000 rebate
    Tax is 1116.38
    Tag fee is $118
    Dealer doc fee is $599
    (all the above is included in the monthly rate of $429)
    This vehicle does not have the side airbags, which will push the payment up some.

    I understand that the Southeast Region is not subject to the low money factor, but these rates seem really high to me. I am going to price some dealers in TN and VA, both are driving distance and if they can come in much lower I don't mind driving a couple of hours to save.

    Even in the example Matt posted above, the Limited 4WD with navigation and a couple of other options was priced better than what I have received so far.

  • rog11rog11 Posts: 5
    Thank you for your suggestions tiger93.

    >The mileage penalty is also set by TFS so I don't believe >you have the ability to negotiate down to $.15 for excess >miles.

    You may very well be right about this. Both dealers stated that the minimum for the mileage penalty is .20, but I wasn't sure that they were telling the truth on that point.

    I previously telephoned TFS and spoke to one of the account people in general terms, and he said that the penalty for their leases is usually .15.

    However, one of the dealers said that for cars with MSRPs over 30K, the penalty has to be .20 to .25 per mile; and only cars under 20K were .15.

    So, maybe the TFS guy I spoke to was only referring to cars under 20K.

    I wonder if anyone reading this has gotten a penalty of .15 on a 2006 4runner? If so, what was the cap cost for the 4 runner?
  • rog11rog11 Posts: 5
    I have noticed that many people on this list are forced to consider traveling outside of their area to look for good deals, like jpp5862.

    One suggestion that I have is before making the trip, you may wish to log on to , and then enter a zip code from the area where you are considering traveling in search of a good deal. Then, simply click on "2006 4Runner: Lease" to see whether Toyota Financial Services is sponsoring any deals in that area.

    By the way, I really would appreciate knowing whether anyone has received an offer with a mileage penalty under .20 for each extra mile.
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