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Toyota 4Runner Lease Questions

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  • Where can I find the residual values and money factors for leases through Toyota Financial? Including any exta incentive through the Encore program.

    I'm looking at a 4Runner Limited V8 with MSRP of $43494. Dealer has offered $38413 including rebate. I want a 36 month lease with 15K miles per year.
  • passat_mxpassat_mx Posts: 32
    Hi,

    Does anyone know the residual and money factor for the 4Runner SR5 2WD, 3yrs, 15k miles per year? I'm in Southern California.

    Thanks!
  • ez2beme00ez2beme00 Posts: 14
    Do you really think 4Runner lease offers will be lower in May? I was thinking about getting one this month but now I may wait.
  • wrj1wrj1 Posts: 9
    ez2beme00,

    I am no car guru. Just a participant in this forum. However, considering the current state of financial markets, dismal consumer spending, and poor auto sales, and given that Toyota March sales continue to be down from Feb. and that 4Runner sales are 34.4% less ytd, I am hedging my bets and guessing that better incentives (or at least not worse ones) are on the horizon. But again, I am NO expert. Do what's best for you.
  • Hi rjohnson1987. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 4Runner Limited V8 4WD with 15,000 miles per year are .00087 and 55%, respectively for consumers who qualify for its "Tier 1+" credit tier. Keep in mind though that TFS calculates vehicles' residual values differently than most banks do. Most banks just use a straight percentage of vehicles' full MSRPs including all options, but TFS places restrictions upon what options can be residualized. This makes it difficult to estimate what a lease payment will be on a lease through TFS.

    Car_man
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  • Hi passat_mx. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 Toyota 4Runner SR5 2WD with 15,000 miles per year are .00087 and 55%, respectively. Keep in mind though that TFS calculates vehicles' residual values differently than most banks do. Most banks just use a straight percentage of vehicles' full MSRPs including all options, but TFS places restrictions upon what options can be residualized. This makes it difficult to estimate what a lease payment will be on a lease through TFS.

    Car_man
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  • Hi ez2beme00. See my previous posts for an idea of what the 4Runner's current lease program is like. As far as what selling price you should pay goes, the 4Runner is a really nice truck...but with gas prices this high and the economy slowing down the market for SUVs is absolutely terrible right now. If you live in an area that has a decent level of competition, I suspect that you won't have much trouble finding a dealer that will sell you one for fairly close to dealer invoice.

    Car_man
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  • Shopping for an 08 4runner. A SE Toyota dealer quoted a .00119 Teir1 money factor with a 56% residual on a 48 month lease. I want a 36 month term but dealer states that its not an option. Can anyone confirm this? What should the Tier1 rate be on a 36 month, 48 month term be?

    Thanks!
  • lilelvislilelvis Posts: 82
    I have been looking at late model 4runners, or even 2008s if the prices keep dropping. I generally don't lease since I figure I'm better off buying the car outright since I plan to hold onto the car for a long time.

    That being said, is it a good time to enter into a 36 month lease and just negotiate the purchase price in three years since, in all likelihood, the resale will be far lower than what they are currently estimating? Or have the car companies already started dropping their expected values?

    I'm a rookie when it comes to leasing - sorry if I am butchering terms. Money factor? Residuals? All pops and crackles to me :confuse:
  • Hi lilelvis. July marks the beginning of a new quarter, which is generally the time that banks make adjustments to vehicles' residual values. So most trucks' residuals dropped by a couple of points this month. Having said this, in my opinion most trucks residuals are still unrealistically high at this point. I thank my lucky stars every day that I am currently leasing my SUV. The bank that I am leasing it through is going to take an absolute bath on it.

    By the way, since you are new to the world of leasing 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.

    Car_man
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  • matrsoskinmatrsoskin Posts: 32
    Hi folks,

    I thought I could share with you my outstanding lease experience with the Westboro Toyota (Boston area): 2008 4Runner V6 4WD Sport Edition, 36 months/12K miles per year, for $424/month with $424 due at signing. I flew in, drove back ~800 miles and still saved ~$1500 compared to the best offer I had received from the local dealers within the 300 miles radius.
    The typically equipped SR5s can be leased for $399.75 with nothing down!

    Cheers
  • paul9903paul9903 Posts: 4
    First time leaser and don't know what I should be looking at for a cap cost.

    Right now looking at a 36 month lease on a '08 4Runner Limited V6 RWD. The dealer is quoting a cap cost of invoice, advertising fee, $10 gasoline charge, $434 for Sirius sat. radio, and $500 dealer "profit".

    Is that something I should negotiate down on considering the economy and car buying climate?

    Much thanks in advance for any/all help on this.
  • Hi paul9903. $500 over dealer invoice is a reasonable selling price for a 4Runner right now. I wouldn't have a problem paying that much to lease one. For additional feedback on how much you should pay for this truck, hop on over to the "Toyota 4Runner Prices Paid and Buying Experience" discussion.

    Car_man
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  • jcookjcook Posts: 5
    I am looking at the following:

    MSRP 36,096
    Urban Runner Package
    Sport Extra Value Package

    Sale Price = 29,128

    I want to lease and have to give back the $3,000 rebate to get the MF of .0005, but what is the residual value on there leasing for this model. Based on there website, a base model has a 59.8% residual value. Is this what I should use to calculate estimated payments? Please advise!
    Thanks,
  • wrj1wrj1 Posts: 9
    Also depends on where you are leasing. Because Priuses are selling like hotcakes and at MSRP in our area (NoCal), I was able to negotiate $1000 BELOW invoice on an '08 Urban Runner. The car had been on the lot for 2 months so I knew that they had already eaten through some of their potential profit from Toyota. Needless to say, they were willing to take a loss (a) because they could afford to do so due to the situation with the Priuses and (b) because they wanted/needed to move the car. Good luck.
  • Find a 4Runner Limited V6 2WD? Is it the state of the market or the fact that the '09's are coming in soon. I just am able to move forward on my lease and now nobody in the Southern California are can find the 4Runner I need with the navigation package included. Not in dire need (I have a work car as well), so do I just sit tight until the 2009 models roll off?

    Also, how should I treat the lease of the 2009, will the cap cost/residual be similar to the 2008 quotes I have received?
  • bullynjbullynj Posts: 7
    Hi,
    Im new here and live in NJ - I am looking at leasing a 2008 Toyota 4Runner SR5 cost here is 2700 down and 299 a month for 39 months. I have never leased before. Is leasing a good thing to do??
  • Welcome bullynj. Since you are new to the world of leasing, 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.

    As far as the specific lease that you are interested in goes, I see that you are considering making a $2,700 down payment. This is not a good idea. I always advise consumers not to make large down payments on leased vehicles. Those who make them risk losing part or all of them if their vehicle is totaled. Even though it means that your monthly payment will be a little higher, you will be better off going with a zero down lease.

    The best way to get a good deal on the 4Runner that you want is to negotiate as low a selling price as possible on it and then have the dealer that you are working with calculate your monthly payment using Toyota Financial Services' buy rate lease money factor. TFS' current buy rate for a 36 month lease of this truck in your state is an amazingly low .00001 for consumers who qualify for its Tier 1+ credit tier.

    Car_man
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  • asm0721asm0721 Posts: 13
    Car Man:

    I am looking to get an 08 leftover in the Pittsburgh area. I was able to get a price of 30,350, $1000 below invoice. Now I am deciding if I want to buy or lease. We are currently leasing an 06 4runner now and have tier one+ with Toyota. What are the current residual values and money factors in the Pittsburgh area for an 08 4*4 Sport v6...
  • Got quote today on an '08 4wd Limited w/ 4.0L 6 cyl with:

    * 50 State Emissions
    * Carpet Floor/Cargo Mat (5 or 6-Piece Set)
    * Daytime Running Lights
    * Exhaust Tip by Valor
    * Limited EVP #1
    * Power Tilt & Slide Sunroof
    * Radio: JBL Synthesis AM/FM/In-Dash 6-CD
    * Rear Spoiler w/Center High Mounted Stop Light
    * Tow Hitch
    * X-REAS Shock Absorbers

    MSRP $39,534
    Without negotiating $33,500+ TTL ($3535 dealer "savings" / $2500 rebate).

    Not sure, but curious to know 1) how this appears at first glance and 2) what the current residual value and Tier 1 money factor is for this at 12000 and 15000 miles per year for 36 months.

    CarMan?
  • Hi asm0721. In every region that I have seen its lease program for, Toyota Financial Services' buy rate lease money factor for the 2008 4Runner is .00050 for consumers who qualify for its Tier 1+ credit tier.

    The residual values for this truck vary by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let let know if you want something different. TFS' current residual value for a 36 month lease of an '08 4Runner SR5 V6 4WD with 15,000 miles per year is 47%. the problem is that TFS places restrictions upon which options can be residualized, thus making it very difficult to calculate the actual dollar residual values for vehicles.

    Car_man
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  • Hi rsamerica1. The truck that you are interested in probably has a spread of at least $4,000 between its full MSRP and its dealer invoice price. That puts the $3,535 dealer discount that you were quoted at around $500 over invoice. If you opt to lease this truck through Toyota Financial Services to take advantage of its special lease program, you cannot use the $2,500 cash incentive to reduce its selling price further.

    In most regions, TFS' current buy rate lease money factor and residual value for a 36 month lease of a 2008 4Runner Limited V6 4WD with 15,000 miles per year are .00050 and 46%, respectively. The residual value for a lease with only 12,000 miles per year is 2% higher. Unfortunately, these residual value percentages are not very useful because TFS places restrictions upon which options can be residualized, making it very difficult to calculate lease payments.

    Car_man
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  • I have an 06 4runner SR5 that I am currently leasing that will end in a couple of months with the following terms:

    36 months, 12k, MF .0005, and residual of 58% with end lease buy out price of $18,992. I only have 22,000 miles on my current 4runner and am considering purchasing at the end of the lease term. I currently pay $352 per month including tax, with zero down.

    Because of my solid initial lease package and the significant decline in residual values over the last three years, I know my car is not worth the full buy out price of $18,992...based on new bank estimates, probably around $3,000 less.

    With the current economic environment, just curious what you think is my best financial move in relation to bargaining power at the dealership. Should I attempt to renegotiate a buy out price at current 47% residual, or toss them the keys and sign a new lease package. Thanks in advance for your thoughts.
  • Hi dakota9. Ultimately it is Toyota Financial Services, or whichever bank you are leasing your truck through that determines its end-of-term purchase price. Your best bet would be to place a call directly to TFS to see if they are willing to work with you. Some banks will and some banks won't, but you don't have anything to lose by trying. If your initial contact there is unwilling to work with you, have have heard about lessees who have gotten better results by working their way up the ladder to a manager.

    Again, there's no guarantee that they will be willing to lower your truck's price...more often than bot banks won't but it's worth a shot.

    Car_man
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  • I've got a 2006 4 Runner 4x4 with 16k mi and my lease expires in June 2009. At this rate my 4 Runner will only have +/- 20k mi at lease expiration. I'm allowed 36k mi. Just wondering if its worth the time and trouble to put this vehicle on one of those releasing websites in which someone will pay my monthly $335/mo plus pay me for the unused mi. Not sure which website to check out or how much to ask to pay me for the mi that they can use between now and June? Also not sure about responsibility in case something happens to the vehicle after I transferred this. Is it worth the hassle? If there is significant cash to be made I'm interested. If not then I guess I'll just hand this back over to the dealer. Not sure of my residual but not really interested in buying this as I'm probably going for something different. Any ideas or thoughts on this is greatly appreciated. Thanks, Gerald in Indy
  • Hi Gerald. You're talking about a web site like swapalease.com. Unfortunately, it is usually more difficult than one would initially think to find someone who is willing to assume a lease. Most consumers would rather lease a brand new truck than pay a similar amount of money to lease a used one. In fact, lessees often find that they have to offer some sort of subsidy to convince someone to take over their lease. You might be able to find someone who needs a short-term lease who is willing to assume your 4Runner's payments, but I highly doubt that you will find anyone who is willing to pay you extra for your unused mileage.

    Car_man
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  • Hello,

    I've been reading these forums as a guest and just signed up. I currently am leasing an 06 Runner in the Portland Maine area. My 3 year lease expires in February. I purchased 18,000 miles per year and am currently 4,000 miles under .
    Any suggestions how I can turn the under miles in my favor ??
    The dealer is telling me they will " waive " my remaining 3 payments and are offering a visa debit card gift card of $ 500-$1,500 to either buy or lease another 4 runner. I have no intention of purchasing my current 4runner. I have tier 1 credit and what is most important to me after getting the best price on the vehicle is either a zero down payment or a deferred payment for 60-90 days. Due to my occupation, cargo space is one of the most important features. Another 4runner, Explorer, Durango, Mountaineer, Pathfinder,or Honda Pilot seem to be my short list of vehicles.

    Any advice or guidance on how to effectively deal with closing out my current lease ( wait until its due in Feb. or launch it now ) and does Toyota weigh in whether you have gone into another lease or purchase to determine how picky they are on wear and tear on your current lease..
    Also, will I get a better lease deal on a new SUV now or in February ?

    Thanks !
  • Welcome rocker77. Unfortunately, normally there really isn't anything that one can do to benefit from unused mileage on leases. One could purchase their vehicle at lease-end and try to trade it in or sell it on their own for a profit, but given the implosion of used vehicle values...particularly those of used SUVs...over the past year, chances are that your vehicle's purchase option price is much higher than its current real world value.

    Having said this, I see that your lease allows 18,000 miles per year. This is higher than the 15k that most banks allow. In most instances, consumers who need to drive more than 15,000 miles per year have to purchase additional mile on a per-mile basis at lease signing. Some banks do provide refunds for unused miles that were paid for in this manner. You should place a call directly to Toyota Financial Services, or whatever bank your are leasing through, to see if this is the case with them. I hope so.

    As far as getting out of your current lease early goes, unless Toyota is running some sort of official early lease termination program right now, and I am not aware of one, you are not getting out of your current lease for "free." The dealer is just eating the cost of your remaining payments to put you in a new lease early...which hampers your ability to get the best possible deal on your new vehicle.

    Car_man
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  • I am looking at leasing the base model Toyota 4Runner and upgrade it with leather seats. 3 years 15k miles a year 0 down. I am Encore customer. What are goo lease prices. ALSO, I am all paid up on my current 4Runner lease which ends very soon, any tips on what to expect when I turn the car back in and can I use the report from the 3rd party on the condition of the car in negotiating a better note or lowering the money that might be owed on the car that I will turn in.

    I am 3,000 miles under what I contracted for and have normal wear and tear on the car. Thank you for any guidance you can provide.
  • Unfortunately I leased my 4R in IL so I'm paying the full sales tax during my 36 mo lease and if I buy the truck I will have to pay sales tax again on the purchase . My question is: If I were to move to another state then bought the truck at lease expiration, would I have to pay sales tax there if that state did not charge tax twice to an instate lease/buy like IL does?
    Unless Toyota Financial is willing to deal, it is not likely I would be buying anyway although I had seriously thought about doing so when I got the truck originally. I have 12 mos left. I may be living in AZ when my lease is up.
    Thanks much, DQ
  • kyfdxkyfdx Posts: 134,700
    Right now.. the bank owns your vehicle, and technically, they are the ones who paid the sales tax on your lease.

    So, it pretty much doesn't matter where you live... Unless the state doesn't charge sales tax on used cars, you'll have to pay the tax again if you want to buy it.

    Which is why leasing cars in Illinois can be a bad deal.

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Thanx kyfdx. I'm just reimbursing the bank for the sales tax. This means the bank bought the car from the dealer, which bought the car from Toyota, which in this case owns the bank. I'll have to check AZ to find out what their program is. Maybe they'll credit me with the sales tax I paid to IL. lol !
    Thank you again: you were helpful when I leased the truck two years ago.
    DQ
  • stillystilly Posts: 7
    Looking for the most recent Money Factor for a 3 yr lease. 10k 12k 15k per year. Thanks for the help.
  • newdavidqnewdavidq Posts: 146
    I just received a letter from the local dealer where I leased my 07 V6 4R inviting me to come in and buy or lease a new vehicle and in so doing replace my present lease and get a new vehicle at the same payment or even less. I have 11 mos left on a 36 mo lease and I will probably be over my 36000 miles allowed by 4 or 5K (@ 15 cents/mile)
    I don't see how this would be possible, but I'm curious. I might like to get a V8 4R as I could use the extra power for towing. I can only assume they're targeting any leftover 08s they might have in stock. What are current money factors and residuals from Toyota Finance in the Chicago area? Thanks much.
    DQ
  • Hi stilly. Toyota is not currently providing any lease support on the 4Runner. 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' current buy rate standard lease money factor is .00295 for consumers who qualify for its top aka "Tier 1+" credit tier.

    TFS' residual value for the '09 4Runner SR5 4WD (they vary by trim level, let me know if you're interested in something different) is 45% for a 36 month lease with 15,000 miles per year. The residual value for a lease with only 12,000 miles per year would be 2% higher.

    Keep in mind though that unlike most banks, TFS places strict restrictions upon what options can be residualized. This makes it very difficult to calculate the dollar residual values for specific units. So much so that Toyota provides dealers with a list of the actual dollar residual values for the vehicles that they have in stock rather than relying upon them to calculate them on their own.

    Car_man
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  • Hi newdavidq. If you still have eleven months left on your current lease, chances are that you will waste a significant amount of money getting into a new vehicle now rather than waiting until the scheduled end of your deal...regardless of what the letter that the dealer sent you said. They are probably just trying to sucker you into getting something new earlier than you should.

    Car_man
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  • newdavidqnewdavidq Posts: 146
    Thanks, Car man. I was pretty sure it was a sucker play but good to get your spin. Money factor and residual not so good either, so no new car for me.
    Regards, DQ
  • You're very welcome, newdavidq.

    Car_man
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  • joepojoepo Posts: 10
    Hi, Car_man - can you please provide current lease rates/residuals for a '10 2WD 4Runner 2WD SR5, 36 mons,10K miles/yr.

    Thanks!
    Joseph
  • Hey Car Man.........Could you give me any leasing info about a 2010 4Runner, Limited - base model, no add ons. 2WD, 6cyl, 36 month, 12,000 miles/yr, Louisiana registration. The MSRP is about 38,000.00. Do you have a leasing formula that actually works?

    Thanks, Jim
  • Hi

    Anyone lease a 2009/2010 toyota 4runner? Just curious on the monthly lease price. Also, please post the model and the state location. Never had a 4Runner before but thinking of leasing a 2010 SR5 or Trail.

    Thank you
  • Hi joepo. Toyota is not currently providing any lease support on the 2010 4Runner. As a result, if you were to lease one through its captive finance company, Toyota Financial Services, right now you would have to use its standard lease money factor of .00265 (for consumers who qualify for its top aka Tier 1+ credit tier).

    The '10 4Runner was a late into, so I haven't seen TFS' residual values for it yet. To be honest with you, TFS' residual value percentages are fairly worthless anyhow because it places restrictions upon what options can be residualized. This restriction makes it very difficult for individual consumers to calculate the dollar residual values for specific units.

    Car_man
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  • Hello jelgin. Toyota is not currently providing any lease support on the 2010 4Runner. As a result, if you were to lease one through its captive finance company, Toyota Financial Services, right now you would have to use its standard lease money factor of .00265 (for consumers who qualify for its top aka Tier 1+ credit tier).

    The '10 4Runner was a late into, so I haven't seen TFS' residual values for it yet. To be honest with you, TFS' residual value percentages are fairly worthless anyhow because it places restrictions upon what options can be residualized. This restriction makes it very difficult for individual consumers to calculate the dollar residual values for specific units.

    Check out the following article for the formula that you're interested in: Calculate Your Own Lease Payment.

    Car_man
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  • What do you mean by "lease support"... discounts?

    I've been getting lease prices for an '10 SR5 4x4 - with a sticker range of 34-36K... and the payments have been significantly higher than I anticipated, ranging from $560 to $700 per month for a 3yr/36,000 w/ no money down. The dealership with the $700 price thought I was crazy when I told them another dealer in the Denver area was a $140 less a month. Fun!

    I'm a bit perplexed because a '10 Lexus ES basic model had a sticker of 35K - lease payment of $379 (w/ 3799 down) or $485 w/ no money down. I understand residual values and such... but surprised at the significant price difference.

    Does anyone know if Lease Brokers can get me closer to where I want to be? Around 485-500.00 or am I just dreaming? :confuse:
  • Hi fxoffroad. Lease support and dealer discounts are two different things. Consumers should always negotiate a discount on the selling price of the vehicle that they are interested in with dealers. By lease support I mean an attractive money factor (a form of interest rate) that the manufacturer is providing on the vehicle.

    Much like cash incentives or those attractive low finance rates that one sees advertised all over the place, automakers often provide supported low interest rates on leases. Toyota is not currently providing any support at all on the 4Runner.

    $700 per month to lease a 4Runner is absolutely nuts. I realize that this truck is more expensive than it used to be when it was redesigned a number of years ago, but still.

    I'm not personally a big fan of auto brokers. There's no reason why a savvy consumer can't negotiate as good a deal on a lease on their own as a broker would. In fact, introducing a broker into the equation just adds another party that has to profit from your deal.

    Car_man
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  • Car_man - thanks for the reply. Perhaps I'm just not savvy enough to score a good price on a 4Runner... though on my '08 Leased Outback, I got a great deal at a very low price... ultimately, I may just need to do more internet shopping for the best price??

    On Friday I went to two dealerships in Colorado:

    The first dealer for a Limited w/ Nav: MSRP: $42,938; Selling price: $41,335; Residual $23,982; Money Factor .0025; Denver Sales Tax 7.75%; Doc Fee: $339; Cap Reduction/1st Payment: $2,000 - the monthly payment on 3yr/36,000mi was $732. Just nuts... the other dealer was at $720per month before tax. I just laughed. Am I missing some mysterious component to the equation? Or is this just serious padding???

    When I ran the numbers on LeaseGuide.com - the above $732 price came in at $644. (Where did that other 88 bucks go?) If I price the selling price $39,600 (which is approximately the invoice price and it looks like others have purchased @ inovice)... the payment was about $587. Is this number in the ballpark, or where should I be?


    Thanks again for your insight. Greatly appreciated.


    Is it reasonable to think that dealers are moving them fast enough that they don't need to see them @ invoice? Or I am just being sucked into the hype?
  • No problem fxoffroad. Seven hundred bucks per month to lease a 4Runner. Sheesh, I knew that it wasn't a good truck to lease, but that's nuts. Part of the problem is that Toyota Financial Services calculates vehicles' residual values differently than other banks. The residual value percentages that it publishes are for base vehicles without any options. It places restrictions and caps upon what options can be residualized, in effect making its real world residuals lower than its published percentages appear.

    My advise is, if you want to lease a truck go with something other than the 4Runner.

    Car_man
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  • Hello everyone. My wife and I may be in the market for a new vehicle. It's actually for the wife, but since I have an Avalon this new vehicle will have to be able to pull a pontoon boat. She's narrowed down her choices to 2: either a Toyota 4 Runner or the Gmc Acadia. Drove the acadia last saturday, asthetically it's pleasing to look at inside and out, but to me, it seemed to be made of cheap materials on the interior. Actually havent driven the 4 runner yet, that happens this coming saturday. Wanted to know what each of you thought about these vehicles, and are there any current issues going on with either of these vehicles. I appreciate your help.

    Roland
  • Car_man... I think you missed my question...

    I wasn't asking you to help me decide which vehicle is right for me - that's already been decided; and its not about how TFC (Toyota Financial) calculates the residual value...

    ...its about the seemingly large discrepancy in the numbers.

    Luckily I'm not in a hurry and can shop the lease deal a bit more.
  • Toyota is typically ridiculously high on their leases. Car Man was trying to explain why. Partly it's because of their high money factors, usually .00250, and partly due to the fact that they don't allow most options to be residualized. That 4Runner may have $7500 in options but only $1000 is able to be counted towards residual value.

    In other words.....BUY IT.
This discussion has been closed.