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Toyota 4Runner Lease Questions



  • slurisluri Posts: 37
    that is way too high. are you sure it is a v8 for that price?
    i have seen v6 with msrp around 33K with no money down, lease for about 330 or so. that is way too much for the monthly payment especially with your money down on top of it. and the deal for 330 per month is for 15K.
    looks and smells a little fishy.
  • atom1atom1 Posts: 6
    Yes, it is a V8 SR5 with only around $1000 in options. You have to remember that in Texas, I have to pay 6.25% sales tax on the entire purchase price. That adds about $50/month to a 36-month lease. If I go back, I'll get details on all the lease fees. That is the only other thing that would cause the higher payments.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi stevevey. All 4Runners have the same money factors, regardless of their trim level, but the SR5 models have higher residual values than Limited models do. They're less expensive, price-wise, too. There is a good chance that you would not be allowed to residualize the heated seats if you had a dealer install them in an SR5 model. If that is the case, you would have to pay for their entire cost over the length of your lease. So I really don't think that is an option.

    Smart Shopper / Prices Paid Forums
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome, goscfighton. Thanks for taking the time to stop back and let us all know how everything turned out. Enjoy your new truck!

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi dad23. Toyota's lease program often varies depending upon which one if its twelve regions one leases in. In most areas right now, Toyota Financial Services buy rate lease money factor for the 2006 4Runner is .00055 for consumers who qualify for its Tier 1+ credit tier. Again, this does vary by region. If you tell me what state you are in, I can be more specific for you. TFS' current 36 month, 12,000 mile per year residual value for a 36 month, 12,000 mile per year lease of an '06 4Runner SR5 4WD is 63%.

    Smart Shopper / Prices Paid Forums
  • dad23dad23 Posts: 430
    Thanks Car_man, I'm in Colorado :)
  • tiger93tiger93 Posts: 57
    crashoften: you mentioned your insurance company provided you with gap insurance for $90. Who is your insurance company? My own company doesn't offer gap. Thx -
  • Went to a dealer today, If I make the deal tomorrow they will backdate it so I get march incentives. Dealer is quoting me .00055 MF which looks correct. MSRP on V6 sport is $35,781 and they are showing me a residual of $19,185. Comes out to about 53% I thought the residual was around 58%. 36 month, 15k miles/year. Maybe carman can confirm the residual. Any help is appreciated.
  • Hi Car_man,
    I have a basic question about calculating lease prices. I have read your article about calculating a "bottom-line lease" and understand how this is done. What I'm wondering is - if I add options to the car, can I still use your formula so long as I 'upgrade' the numbers to include the more expensive msrp of the vehicle configured the way I want it?

    I'll give you an example:
    You've stated a 2006 Toyota 4Runner SR5 4WD, 36 months @ 12K, is .00055 and 63%. Using those numbers...If I add some options to this car and get the msrp to $34,410 - the TMV is $31,606. So we'll use those numbers. The residual I calculate is $21,678. So the base payment is $276, plus money factor ($29) plus tax (MA-$15) and I get $320. Is it fair to do this with the added options??? Or do the numbers you post only hold true for no added options?
  • Anyone know the 36 mo, 12k/year residuals on the Sport and Limited 4x4? Is there a difference between the two?

  • watchdog3watchdog3 Posts: 29
    I have been researching the 4Runner lease. I need help. Locally (Minneapolis) I cannot get Edmunds invoice ($28,866) to match the local dealer ($29,342)......MSRP is $32,456. Residual is $18,096. MF is .00055.

    Dealer is including Acq. Fee $400 (say it it required) and making me pay upfront for license, doc and and reg. fee ($433). They are showing me 60% residual after 3 years with 16,000 miles/year. They come up with a lease payment of $365/month with 6.5% tax.

    Using he Edmunds lease calculation (Calculate your own lease payment) I come up with something around $330 with 6.5% tax. I did not include an acq. fee in my calculation but did use Edmunds Invoice number.

    What gives.
  • tm2000tm2000 Posts: 1
    Hey All... Just saw the new leaase deal on this.. Anyone have any deatils on it? I live in California and can not find any specifcis. The Edmunds site says $279/36months/12k milage with:

    "Lease based on a 2006 4Runner SR5 RWD V6 (model #8642) equipped with options FE, DR, CD, SR, and TO. $1,999 due at signing. Incentives may vary; see your local dealer for details. Tax, tags and insurance are extra."

    So I added the Options to the MSRP of 27,635. with SR $900, TO $430, DR $220, CD $ 90 and FE $0... Totals: $ 29,880 (includes Dest $605)...

    Anyone been through this yet? I need HELP!!!!! Ha!

    Q1: So is that the MSRP the lease is based on? Has anyone seen the deatils on the offer from Toyota direct.. I can't find it on their websites...

    Q2: Anyone know what the Moneyfactor and residual would be on this?

    My dealer has several SR5s but they have more options so I want to be able to do my own math.. somehow they are at $420/month.. Got to love em ;)

  • az_mikeaz_mike Posts: 1
    Hey Folks,

    Did I get a decent deal?

    I just leased a new 2006 4runner SR5 V6 4WD with premium sound (6-disc changer), Sun Roof, 17 inch wheels, tonneau cover and a few other bells and whistles. The MSRP for the SUV was around $33,500.

    I traded in my 2003 Taco, which I had about $2000 "equity" in.

    I walked out the door with $0 down (aside from my trade-in equity) and $350 per month for 36 months at 15k miles per year.

    What do you think? Good deal, or did I get hosed?
  • chrism124chrism124 Posts: 134

    Can you provide me with the residual and moneyfactor numbers for both a 24 and 36 month lease for a 2006 Toyota 4Runner LTD. I would be interested in both the V6 and V8 models.

    Are there any incentives for this model?

    I live in the state of New Hampshire.

  • dakota9dakota9 Posts: 4
    Just leased my 4Runner today and here are the details.

    Toyota West - Columbus Ohio - Excellent Experience.
    Black with Beige 4Runner SR5 V6 4WD
    Options: AW, FE, DR, SR, RF, CD, TO, Mud Gaurds, Whl Locks
    MSRP: 32,700
    Negotiated Cap Cost: 29,710
    Money Factor: .00005
    Residual: 18,994
    Money Down: $200
    Rebate: $400 Toyota Recent College Graduate Rebate
    First Year of Oil Changes, Tire roations etc etc.
    Added aftermarket leather seats $850
    Leased for 36 months with 12,000 miles/year for $355 per month including tax, title, license, and gap insurance with Zero money down.
    Paid $561 at signing for first month and TTL.

    Hope this helps!
  • galevingalevin Posts: 8
    Just leased a 2006 4Runner for $317+tax ($336)per month. Basic 4Runner with 4wd SR5 sunroof yada yada yada...basic stuff. But no money down and $317/mo plus tax, 12k mi/year and 3 year lease. For anyone that needs a comparable to take to your local dealer this was done here in Indianapolis, In at Tom Wood Toyota. If anyone can beat this, it aint gonna be by much. Just thought I'd pass this one.

    PS They wanted a credit score of 730 for this and I only had a 666 (maybe they thought I was the devil). They said I was a "tier 2" and I needed to be a tier 1 (credit rating of 730) but when I walked they bumped me up to tier 1.
  • Think I beat it (assuming you got the V6, galevin), but not by much at Evans Toyota in Ft Wayne, Indiana. $327/mo ($347/mo including 6% sales tax) for 15K miles/year, 3-year lease, $0 down, 1st mo + $100 TTL out-of-pocket, 4WD SR5 V8 with moonroof yada yada (sticker $34K). I already had Tier 1 credit score, so I was given the lowest money factor rate at .00001 (yes, 4 zeros and a 1 - basically 0%). Indiana seems to be the only state with this money factor rate at the moment. The residual was 60% of the stated base MSRP for the SR5 V8. I was pleased with the service and will definitely call them again in the fall for a new minivan for our family. $11/mo more for 15K miles/year and V8 seems like a pretty solid deal.
  • galevingalevin Posts: 8
    Good job. I thought I beat the salesman to a pulp but I must agree, your deal is better. Amazing how there are 2 good deals here in Indiana. My deal above was for the V6. Anyone beat my V6 deal or bwoudenberg's V8 deal? If not, go and beat your dealer and have them at least match our deals (preferably the deal that bwoudenberg got).
  • Thanks for the compliment galevin, but getting to that deal was the result of all the great information located on these forums from folks like you and Car_Man (and many others). A month ago I was looking at Pathfinders with 52% residuals and 3% finance rates and thought that was the way to go! You all showed me a far better deal could be had with the 4Runner.

    Some of it was a bit of luck too - I sort've stumbled into the fact that IN had the low money factor rates. One thing I can't stress enough (notes from Car_Man's sermons!) - make sure every number is accounted for and can be matched via your own financial calculator or online lease calculator. In my past experiences (5 other leases), I find dealer's to be very suspiciously secretive about their lease payment calculations. If they can't reconcile their numbers to mine clearly, I walk.

    Your success and mine are great examples of the value of this forum. By contributing back, hopefully we're giving tools to the next guy to strike an even better deal. We'll be tipping hats to someone new tomorrow because we contributed to this forum, and hopefully they'll give back what they learned to the next guy as well!

    Thanks again to all who contributed information to help me get my deal!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on your new 4Runner, dakota9. Thanks for taking the time to share the details of your deal with everyone. Enjoy, I am sure you will - it's a very nice truck.

    Prices Paid Forums
  • glennjrglennjr Posts: 32
    The 4runner lease is crazy right now. I just got a $34,000 SR5 for 36mos 15K with not one penny out of pocket for $323 a month. I traded in my wifes 03 Altima which they gave me $10,000 for i owed $9000 and we also got a $400 graduate discount for my wifes recent masters degree. To me this is a steal becuase the GALVES value of the Altima was only $9000. The only thing i was a little unclear on was the $400 bank fee which i thought was waived by using Toyota Financial Service. Also, the sales manager said the money factor was not able to be combined with the $1250 rebate. Personally i think they overvalued my trade and then had to adjust some numbers. Wife is very happy with the truck we may option to have leather installed aftermarket. I was quoted $1000 for this has anyone heard other prices?
  • jbwatson2jbwatson2 Posts: 3
    I got a 06 SR5 w/ third row, tow and 17' wheels (pretty basic really) Silver. MSRP was 32,456, got to $28945 on Cap cost (~$3500 off) plus $400 for acquisition fee that gave a lease payment of 305.99 for 36 months with a .00001 money factor (total interst is $17 over the 3 years), residual value of $18346 (57% of MSRP, 2% over predicated by Edmunds), taxes in WI are 5.5% making the payment $322.82,had to give them an additional 219.73 in title fees, registration fees , filing fees and "service fee" at signing for a total of $542.55. The service fee was $95 of BS on the window.

    Another dealership had me at $344 on Monday and would not give any better deal on the price, went across town (Jon Lancaster) and they gave me what I asked for, no hard sell on any add ons.

    I do financial calculations at work all the time (net present value etc.) and this deal is mind boggling from a financial standpoint. I was considering paying cash (up to $25k) for a vehicle. That money will now sit in the bank earning 5.5% interest which I will use to buy out the lease in 3 years (I should have ~$4500 in interest from the $24500 I did not spend). Accountants and dealer employees should be all over this is essentially an interst free 9 year loan, with the option to change your mind after 3 years, unreal.
  • kyfdxkyfdx Posts: 66,757
    That is a really great deal... Congratulations on your new truck!!

    You almost have to lease, when you run across a deal like this..



    Prices Paid, Lease Questions, SUVs

  • galevingalevin Posts: 8
    Good job on getting this for $306/mo + tax. Beats my $317/mo but I'm happy. Agree with everything you said but not sure where you came up with the "essentially an interest free 9 year loan"? I see that it is essentially interest free for 3 years but what about the other 6 years? Thanks
  • jbwatson2jbwatson2 Posts: 3
    Actually you are correct, gotta love the internet, I will not be able to reproduce when the three years are up. So it is the equivalent of an interest free 9 year loan for 3 years. I work with scientists and they always fine the flaw in my details. The big picture is anyone who got the .00001 MF made an amazing deal. I did the calculations and this saves about $3K over 3 years no mater how you look at it. It is essentially like buying an used car (for three years, to be totally correct) in terms of cost per mile.

    Only it is new...

    FYI I will but it out at the end of the lease cuz I know where it has been, UNLESS gas is at $5,00 galloon, then we will see how that residual value turns out.

    Thanks for the comments, hope the July deal isn't .00001 plus $2000 off. May not matter since the silver 06's were getting rare anyway.
  • dad23dad23 Posts: 430
    Could I get the current MF & residual for an SR5 4WD, 36 months and 12k miles in Colorado?

    Thanks in advance :)
  • glennjrglennjr Posts: 32
    That is the beauty of leasing. When you catch a deal like the ones we just got you are eliminating interest on this vehicle for 3 years. I plan to turn mine in at the end but i will just find another SUV and look for a similar deal.
  • vdoublevdouble Posts: 1
    Live in NJ just lease a 2006 4runner SR5 Black with added beige leather interior, sunroof, heated seats, and the rest of the goodies in the SR5. I put $3000 down and my payments for 36 months 12kmiles is $350 including tax. The buyout is 18,200 do you think this was a deal or did I have to put to much down, please let me know, thanks.
  • jelginjelgin Posts: 3
    Car_man or kyfdx:

    Could you tell me what the residual, lease factor & cap cost should be for an '06 4Runner Limited - MSRP is 39,312.00 - based on a 36 month lease, 15,000 miles/year. I am in Louisiana. The salesman said the rate factor is .00065 and that the residual would be 19,856.00.

This discussion has been closed.