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Toyota 4Runner Lease Questions

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Comments

  • dad23dad23 ColoradoPosts: 446
    Car_man,

    Can you give me the current residual and money factors for a 36 month/12K mile lease on an 07 SR5 4WD for Colorado? The one I have my eye on has an MSRP of $32998, invoice/selling price of $29962 less the $1250 rebate.

    Thanks!
  • Welcome 914runner. I'm glad that you find this forum so informative. Let's take a look at the selling price that you were quoted for this truck. A base 2007 Toyota 4Runner R5 V8 4WD has a spread of around $3,400 between its full MSRP and its dealer invoice price. You were quoted a discount of $2,979. That's probably around $500 over invoice, which isn't a bad price for this truck. Toyota's lease program for this truck varies by region, but in most of the country its 36 month buy rate lease money factor for consumers who qualify for its "Tier 1+" credit tier is .00181. Make sure that the dealer that you are working with uses this money factor and the payment that you were quoted to calculate your truck's monthly payment and you're in business.

    It is in your best interest not to make any sort of down payment when leasing. Consumers who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered.

    Car_man
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  • Hi dad23. Toyota's lease program for this truck varies by region. I haven't seen its specific program for its Denver region recently, but in most of the country Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 4Runner SR5 4WD with 12,000 miles per year are .00181 and 60%, respectively. Unfortunately, the $1,250 customer cash that is available on this truck in your region is not compatible with this special lease program.

    Car_man
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  • Hi Car Man,
    Please compute a lease figure for the following:
    MSRP: $ 34914.00
    Selling price for lease deal:$ 32000.00
    36 mos
    sales tax .065 northeastern IL
    Have very good credit. Do you know if anything will change in March? Im having a hard time finding a white version of this truck within 100 miles; V8s seem to be rather scarce.
    Thanks, Dave
  • Hey Car Man,
    I forgot to ask if you can provide the 27 mo. 15k residual value for an 07 4runner sport edition 4wd V8 in the Chicago area? Appreciate all the work you do; I see you on a lot of other forums.
    Regards, Dave
  • Hello,

    I'm looking for lease estimates and opinions based on the following 2007 Limited with MSRP of $40,419 including destination fee.

    Options included: JBL, Side air bags, Spoiler, Day running lights, Moon Roof, Tow, cargo mat/kit.

    What is a realistic payment expectation to lease this vehicle for 36 months/15k ?

    I'd like to be around $400 a month with little out of pocket. Is this overly optimistic ?
  • billmvbillmv Posts: 148
    bass.....you need to post the selling price you negotiated, the money factor and the residual value your dealer told you they would use. Without those, it's impossible to caclulate a lease payment. Are you able to get those? Also find out what they are charging you for an "acquisition fee" because they will often mark that up a couple hundred bucks to capture a little more profit.

    Yes, I think you're overly optimistic about $400.
  • pgillpgill Posts: 84
    Carman:

    Can you please post the MF and residual for 4Runner SR5 V6 and V8 models for 36 month, 12k miles per year lease in NJ (or Northeast Region)?

    TIA
  • 4Runner Limited

    MSRP: $ 40354.00

    15000 miles a year and 39 months:

    $0 down = $589
    $1500 down= $547
    $2500 down= $519

    cap cost $33900

    residual $20177


    money factor .003090
  • galevingalevin Posts: 8
    Man, that sure seems like mucho dinero. I just got a 2006 4Runner about 6 months ago, 12k mi/yr, 3 yr lease, 4 wd, 6cyl, sunroof but basic model and we pay $315/mo plus tax equals $326/mo net. And a few others got better deals than me so $589/mo is a no brainer for me, I personally wouldn't touch it even if this thing was dipped in gold. Now I'm talking the SR5, not the limited, but big woop, there aint THAT much difference between the two. JMHO.
  • I realize that.... I'm posting the numbers on the Limited so that they can be crunched and analized "here" before I go back to a dealer and start negotiating... this is just a first pass, not anything I would sign up for.
  • krochellikrochelli Posts: 11
    Carman-

    Could you please post SoCal MF and residual for a Toyota 4Runner V6 Sport, both 4x2 and 4x4 if there is a difference? 3 years/12k miles would be great.

    I believe last month it was 60% and .00181 which didn't seem too bad.

    Thanks again,

    Keith
  • 2007 SR5 4runner (Sun roof, tow, etc)

    MSRP: $32,819 - FE, CD, AW, NE, TO, DR, SR

    39month/15k: $363.12

    $1000 down

    Cap Cost: $29,575

    Residual: $16,081

    MF: .000375

    I don't have all the details yet, as this was via email not in person.
  • irish10irish10 Posts: 7
    bassmiesternj,
    what state are u located in? i was just wondering where the MF was that low on the 4runner. that seems like a pretty good rate.
  • krochellikrochelli Posts: 11
    agreed- that is a fanastic money factor. Carman, can you help us?

    Thanks
  • That MF was a little too good to be true, when pushed the dealer could not produce that MF, they backed out when I pushed for exact details of the lease.... so forget that one.

    Went to a different dealership today and I'm considering this offer...

    SR5 - MSRP $32,819 FE, CD, AW, NE, RL, TO, DR, SR

    AM Leather already installed - sticker $1395

    36 month/15k

    Toyota MF .00181

    $431 plus 7% sales tax for a total payment of $463.00 per month

    $1500 out the door (includes, DMV, doc, bank, gap, first month of $463.00)

    When I first sat down the "out the door" cost was close to $2,000, which I thought was obsurd and really a deal killer.

    After a little consideration at home, this deal doesn't look too bad, considering it's no money down. The reason I didn't take this SR5 deal on the spot was because I am hesitant about giving up the options I like that came with a SE I also got quoted on (pwr seats, REAS, etc)....
  • Hi newdavidq. In most regions, Toyota Financial Services' buy rate lease money factor for the 2007 4Runner for consumers who qualify for its "Tier 1+" credit tier is currently .00181. TFS' 36 month, 15,000 mile per year residual value for an '07 4Runner Sport V8 4WD is 58%. The problem is that TFS' residual values are only for base vehicles without any options. It places restrictions on which options can be residualized and caps on the values of the ones that it allows, making it very difficult to calculate lease payments. The calculation of TFS' residuals is so complex that it actually provides dealers with a list of the dollar residual values for vehicles that they have in stock.

    The base version of this truck has a spread of around $3,700 between its full MSRP and its dealer invoice price. The discount that you were given, $2,914 probably puts you at around $1,000 over invoice, which isn't bad but if there is a decent level of competition in your area you may be able to shave another couple hundred dollars off of this truck's selling price. Make sure to stop by the following discussion to see how much other community members have paid for similar vehicles lately: "Toyota 4Runner: Prices Paid & Buying Experience".

    Car_man
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    Prices Paid Forum
  • Hey Dave. I haven't seen this truck's 27 month residual value, but I can tell you that Toyota Financial Services' 24 month, 15k residual value for the 2007 4Runner Sport V8 4WD is 64% and its 30 month resid is 61%.

    Car_man
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    Prices Paid Forum
  • Hello bassmiesternj. This truck's lease payment will vary depending upon the selling price that you are able to negotiate. The lower the truck's selling price is, the lower your monthly payment will be. If you are in an area that has a decent level of competition, shoot for a price of $500 or so over dealer invoice. You can look up the invoice price of the truck that you want by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. You also should stop by the following discussion to see how much other community members have paid for similar trucks lately: "Toyota 4Runner: Prices Paid & Buying Experience".

    Car_man
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    Prices Paid Forum
  • To anyone interested.

    I got what I think is a great lease deal on a 2007 Sport and I absolutely love this truck !

    I went in knowing the invoice and what to expect. Then I settled on two dealers I felt would go down to the wire on the payment as well as negotiating a low "out the door price". Both dealers had vehicles on the lot that I could be happy with.

    MSRP: $34,864.00 (Sun Roof, Spoiler, 6CD)

    36month/15k Toyota lease with .00181 MF

    Monthly payment $429 plus 7% tax = $459 per month

    Total out the door including first month and all DMV, doc and bank fees = $1500.00
  • Hi pgill. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of any 2007 Toyota 4Runner SR5 4WD with 12,000 miles per year in its New York region are .00181 and 60%, respectively.

    Car_man
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  • Hi Keith. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 4Runner Sport 2WD with 12,000 miles per year in its Los Angeles region are .00181 and 59%, respectively. The numbers for an otherwise identical lease of a 2007 4Runner Sport 4WD are .00181 and 60%.

    Car_man
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  • Hey bassmiesternj. A base 2007 Toyota 4Runner SR5 4WD has a spread of $3,200 between its full MSRP and its dealer invoice price. The discount that you were quoted is right around that and is a very good deal. Something is off with the money factor that you were quoted though. I suspect that you meant that this truck's factor is ".00375" not ".000375." Toyota Financial Services' buy rate lease money factor for a 36 month lease of a 2007 Toyota 4Runner in most regions is currently .00181 for consumers who qualify for its "Tier 1+" credit tier. Is your lease being run through a different bank? If so, then the dealer is using the $1,500 or so customer cash that is available on this model to reduce its selling price and this deal isn't that great.

    Car_man
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  • Hey bassmiesternj. That money factor is more like it. What is the selling price of this new deal? This is a very important number to know. Without it, it's tough to tell if there is any room left to negotiate.

    Car_man
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  • tdbrphtdbrph Posts: 32
    Hey car_man,

    Contemplating a 4runner lease with TFS. Does the dealership get the rebate money back on their end that is available on purchase? The dealer is trying to tell me they dont get the rebate on a lease. I know you get many questions but if I could get a response I would appreciate it.

    Triston
  • I'm trying to lease a 07 SR5 with leather seats and I'm getting a selling price of $26,400 with 12K miles per year with residual value of $12,977 (44%) with a money factor of 0.002410059. The last two seem high. Any advice or just dumb Florida luck?
  • krochellikrochelli Posts: 11
    so they came back with an approximate residual of 54.8%, selling price of 30,700 on MSRP of 34,754. with 550 acq fee rolled in with 8.25% sales tax, 480 a month--not too bad, but with the 58-60% residuals i was hoping for more like 430.

    this Toyota residual thing is very confusing---i'm used to buying Bimmers. so basically the options on a car (which is a couple grand in this case) are not used in calculating the residual?

    final question for you- has the residual on the base car changed from March to April? i just want to know if this is still a good deal.

    thanks car man! (ps. you've helped me now like 3x leasing a car for friends and myself!)

    keith
  • Hey Triston. Unfortunately, the customer cash that Toyota is currently providing on the 2007 4Runner is not compatible with its special lease program.

    Car_man
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  • Hi samquacious. The distributorship that Toyota has to sell vehicles through in the Southeast often makes getting vehicles there more expensive than it would be in another area. I would be happy to give you my opinion on the selling price that you were quoted for this truck, but in order for me to do so it would be helpful if you told me what its full MSRP is first.

    Car_man
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  • You're right, Keith. The way that Toyota Financial Services calculates vehicles' residual values makes leasing through it much more confusing than leasing through most other banks. TFS did publish new residual values for the month of April. Its current residual value for a 36 month month lease of a 2007 4Runner SR5 4WD with 15,000 miles per year is 56%. Again this is for a base truck. TFS places limits upon which options can be residualized.

    Car_man
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  • krochellikrochelli Posts: 11
    Thanks Car Man. I ended up getting the 2WD version of the truck last night as the 4WD version was significantly more expensive due to the option residual issues.

    Here's the final deal:

    MSRP: 32.2k
    Selling price: 28.1k
    Residual: 17.8k
    Money Factor: .00181
    Acquisition fee: 550

    With 8.25% tax, total is $416 a month which i thought was a pretty good deal all-in-all. The 4WD version which stickered for 34+ would have been $480 a month, which is quite a difference (effectively, i would have been paying full value of the difference in MSRP in the lease at $700 a year)

    Cheers and thanks again!

    Keith
  • How good, or bad, does this offer sound for a lease of a 2007 4Runner Limited? Location is Omaha, NE.

    w/6500 due at start
    3yrs 36,000 miles
    $395-400 plus tax per month
    including tax $425 per month.
    Residual 22,479
    Money factor .00191
    MSRP $41,853

    Thanks.
  • No problem, Keith. Thanks for taking the time to report back on the deal you got. Enjoy your new truck :) !

    Car_man
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  • Hello questionman. Let me begin by saying that $6,500 is way too much money to pay at lease signing. One of the major advantages of leasing is that one can get the vehicle that they are interested in without having to pay a lot of money at signing. Consumers who pay a lot of money at lease signing are taking an unnecessary risk that they will lose all or part of that money if their vehicle is totaled in an accident or stolen and never recovered.

    The money factor that you mentioned in your post looks good to me, but you never mentioned what this truck's selling price is. This is a very important number to know when leasing because it shows you how much of a discount you are being given. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. I would be happy to give you my opinion of this deal if you tell me what the selling price is.

    Car_man
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  • nedababenedababe Posts: 1
    Hi carman,
    I'm just wondering why it is bad to pay a high downpayment? The reason that I want to put 5000 down on a 4runner is so that I don't have to worry about higher monthly payments. Is this a bad idea? I haven't told a dealer that this is what I want to do but i've been thinking about it.
  • skydan5skydan5 Posts: 2
    After doing my homework, I leased a 2005 Toyota 4-Runner for $385/month. I think I paid $500 for a down payment, but I'm not positive.

    If you want more info, send me a message.
  • skydan5skydan5 Posts: 2
    In addition to the previous post I wrote, I can be contacted at [email protected] for info about my 4-Runner lease and who I did business with.
  • shant14shant14 Posts: 9
    Car_man (or anyone else that can help),
    I am in the Southern California area and I am looking into leasing a basic model SR5 V6 4x2 4Runner. What would the monthly payments look like for a 36-month 12k/year or 48-month 12k/year lease? Also, how would the 'incentive/rebate' i see on the Edmunds pricing report get calculated into this?

    Here is the information you will probably need:
    MSRP (according to Edmunds): 28,320
    Invoice (according to Edmunds): 25,362
    TMV (according to Edmunds): 25,629
    Incentives/Rebate*: -2,500
    Customer Cash Adjusted True Market Value: $23,129
    Credit: Tier 1
    Downpayment: 2,500
    Mileage: 12k per year

    Assuming that I am able to negotiate a selling price that is identical to the Edmunds TMV, what should my monthly payments look like for a 36-month and a 48-month?

    Also, as far as lease programs or incentives go, is this a good time to buy a 4Runner? I am willing to wait at least 1 month. Would you know of any benefits in waiting until late September?

    Thank you in advance.
  • Carman or kyfdx,

    Could you please post the September money factor/residual numbers that Toyota is using for 4runner sports and limited models please? Also, would these numbers still be offered along with the current $2500 rebate that Toyota is offering on the '07 models? If not, what kind of money factor would one expect if they took the cash rebate?

    Thanks very much.
  • Hello sw1024. Toyota's lease program varies depending upon which one of its twelve regions you are in. I would be happy to give you an idea of what the 2007 4Runner's lease program is like in your area if you tell me what state you are in. Toyota's cash rebates, like the $2,500 that you mentioned, are not compatible with its special lease program. If there is a special lease program available on this truck in your area, you would most likely be better off going with it instead of the cash incentive and a worse lease program.

    Car_man
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  • Hi Carman,

    Sorry--I live in So Cal--Los Angeles. Looking for 36 months, 12k lease on 2007 Sport and Limited models 4x4.

    Also, depending on what their special lease rate is--it would probably be more advantageous to take the $2500 cash rebate, wouldn't it? If my math is right, the money factor would have to be below .0006/1.5% in order to be a better choice than the rebate? Or am I wrong?

    Thanks very much. I really appreciate it.
  • I want to get out of this lease and into a new Toyota lease for a 2007 4-Runner Sport.

    I have a 63 mo. lease with Fair Lease in Dallas Texas for my 2005 4 runner sport now with 49,600 miles. Payoff today is 27,586.13. My 35th payment due 11/1/07 at 550.15 mo. The payoff includes a penalty charge of $500 for early termination & a percentage of the adjusted cap cost which amounts to $1,366.55 fee. The adj. cap cost on the contract is 37,166.05. (The price was high because I had to add $6,337 negative equity from the traded in car for the 05 4 runner)

    A Houston dealership offered me a 2007 Sport. 1,000 down, 59 payments, 12,000 miles/yr, at $599.00 mo. My 4-runner is valued at around 20K they said. I this a Good or Bad Deal? Thanks, Diana (I don't know what to do with the Fair Lease contract. )
  • Hi Diana. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: sysop, "Real-World Trade-In Values" #, 14 Dec 2000 11:07 pm. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.

    If you absolutely have to get a new vehicle now, make sure that you get the best possible deal on it. I would be happy to give you my opinion on the new deal that you were offered, but you didn't provide much information on it. What exact model are you interested in? What is its MSRP? How much is the dealer that you are working with charging you for it (its selling price)? Is the 60 month contract that you are considering a loan or a lease? Let me know and I'll tell you what I think.

    Car_man
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  • valueguyvalueguy Posts: 208
    CARMAN what is the MF for a 36 or 39 month, 12,000 miles per year lease on a 4 Runner Limited 2wd model located in Florida
  • Carman,
    I have a 2006 fully loaded, MSRP 44,700, I paid 39999. Put total 2K down, leasing for 557 a month for a 3 year 15K per year lease.
    WEll, my lease ends in April of 09 and I already have 34K miles on it. I have a friend who wants to buy out the lease. My question is, should I let him do it? I would save the cost of brakes and tires, and excess mileage. The downside is, I would have to fork up another 1500 or so up front if I wanted to lease an 08. I see the MSRPs on the 08s are cheaper. What do you think? Do you think I could get a better monthly payment this time around? I would like to start over with the truck as my new driving habits make for less miles.
  • elzejbelzejb Posts: 1
    Hi, I am looking to lease an 08 4Runner in SW Florida but can't seem to find anything. I want leather, sunroof package and need to keep my total lease under $450/month including taxes. I need to know if this is possible. I need a 36 month, 15k miles, and $0 down outside of payments. This is through work so I have to stick with these parameters. Any help is appreciated.
  • wrj1wrj1 Posts: 9
    Car man,

    Was wondering if you might be able to advise. Am looking at a 2008 V6 Limited w/ carpet/cargo mats, JBL synthesis, Extra Value Pkg and Tow Hitch at Toyota Marin, CA, and am wondering whether the deal is good or not. Considering a 36 mo lease, 12000 miles, and nothing down.

    Retail Price: $36975 w/ 1880 in accessories.
    Dealer Price: 31909 w/ 1424 in access.
    (For reference: Edmunds MSRP: 36975 w in 1560 access,
    Invoice: 33017 with 1215 in access, and
    TMV as 33,893 with 1326 in access.)

    Cap cost = 36,774.
    Residual: 22,046
    No security deposit.
    Monthly payment: $482.74
    Monthly payment with tax: $520.37

    I have been looking at a Volvo XC70 w/ the works ($42K selling price) and Touareg2 V6 w/ lux ($43K selling price) and have gotten quotes for (XC) $530/mo for 24 mo with nothing down and 10500 and (Touareg) $570/mo for a 36 mo lease (first month paid by VW), nothing down, 12000 miles, respectively. These cars are essentially $10K more yet their leases are fairly comparable.

    Surely I can get a lower monthly payment, yes? But how??

    Many, many thanks!
  • The Toyota website listed April lease incentives look great on the 4Runner. Lured me away from the Highlander. I have sent emails to the dealer to get the full details. Has anyone taken advantage of this yet?
  • jcookjcook Posts: 5
    What are the current going rates for the money factor and residual value for a 2008 limited 4runner?
  • wrj1wrj1 Posts: 9
    The current money factor (which I will likely improve further in May) is .00087. Residuals after 24 mo: 23,525; after 36 mo; 21,306-22,046; after 48 mo. 18,198-18,938.

    At least that is what I was told and what my paperwork reflects...
This discussion has been closed.