Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Toyota 4Runner Lease Questions



  • Hi, I am planning to go out this weekend to lease a 4runner. I currently am leasing a 2005 Highlander, and plan to trade. I had a 36 month lease, but it has only been 20 months. I am a little over my miles, if you figure it out monthly. I don't have much to put down, but I have a new job that will require me to do a little driving. Since I am on track to be over my miles at the end of 36 months, I want to trade it now. I am looking at the 2007 4runner limited 4dr SUV 4WD. The TMV in my area (Seattle) is 38,091. The invoice is 34,774 and the MSRP is 39,070. I don't know what other numbers I need to know. I hope this is enough information for one of you leasing gurus out there to tell me what I should expect as far as monthly payments. I want to do another 3-year lease and want to put little to no money down ($2000 max). I don't know what money factor or residual factor is. Is it reasonable, or common, that buyers ask for 15,000 miles instead of the lower mileage to be "thrown in" in the deal? PLEASE help me with any information you can share with me. I am going out tomorrow morning...nothing like waiting until the last minute to find out important information!! I am forever greatful to anyone who can help me!!! :confuse:
  • What should I expect as a reasonable monthly payment? I am a woman, so I know they really expect to be able to take advantage of that! :mad:
  • reo9674 -

    I'm not an expert and can't answer most of your questions, but I can tell you that the Toyota dealer that I buy from quotes 15k leases by default. Out here, you have to drive a lot to get from place to place so this may be a regional thing, but there are plenty of 15k leases on the road.

    Good luck and keep us posted on your deal!
  • Hey carman,

    what is the current MF and residual on a 2006 and 2007 4Runner SR5 4WD with a 36 and 39 month lease with 15,000 miles/year???

    MF/Residual 2006 (36 Month) = ?
    MF/Residual 2006 (39 Month) = ?
    MF/Residual 2007 (36 Month) = ?
    MF/Residual 2007 (39 Month) = ?
  • Received the following numbers on 2007 4Runner SR5 4x4 V6 in upstate NY based on their new 36 month lease special:

    MSRP: 33000
    Purchase Price: 1% above invoice
    End of Lease Purchase value 18900
    Residual 59%
    420 per month 0 down

    New to the leasing world. How do these numbers add up or look?

  • Seems high to me. I bought a basic 2006 SR5 4x4, sunroof, basic stuff with no money down and my payments are $315/mo plus tax. Now mine is a 2006 but its still a new 4runner and I'd rather have the 2006 at $315 than a 2007 at $420.
    My purchase took place appx 3 mo ago.
  • Welcome aceonthebeach3. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. Check them out and let me know if you have any other questions.

    Prices Paid Forum
  • Hi mt15. $694 a month is a LOT of money to pay for a Toyota 4Runner. You should be able to do better than that. Toyota is running a special lease program on the '07 4Runner in its New York region in November. Make sure to take advantage of Toyota Financial Services' current special money factor of .00181 (for consumers who qualify for its top credit tier). Also, always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Make sure that you find out what the selling price of the truck that you are interested in is. Without knowing this number, it is difficult to tell how good a deal you're getting.

    Prices Paid Forum
  • Hi reo9674. 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 True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". 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 exceed your Highlander's allowed mileage, the only way that you will be able to avoid paying an excess mileage penalty is if you purchase your truck at the end of your lease. Even if you do continue to lease it until the scheduled end of your deal, the mileage penalty that you pay may be less than the money that you will lose by trying to trade in your truck now.

    Prices Paid Forum
  • Hey illinisig. Toyota's lease program varies by region, so I need you to tell me what state you are in in order for me to give you an accurate idea of what this truck's lease program is like. For now I will provide you with info on the most widely available program. According to the latest information that I have seen, Toyota Financial Services' current buy rate lease money factor for a 36 month lease of a 2007 Toyota 4Runner SR5 4WD is .00181 for consumers who qualify for its Tier 1+ credit tier. I haven't seen this truck's residual values lately, but I'll look around and see if I can find them out for you. This special money factor is not available for 39 month leases, so don't lease one for that term.

    Prices Paid Forum
  • Hi dback23. One percent over dealer invoice is a good price for this truck. Just make sure that the dealer that you are working with is using Toyota Financial Services' current buy rate lease money factor of .00181 for tier 1+ customers in its New York region to calculate your monthly payment and you're in business.

    Prices Paid Forum
  • I'm in the market for the exact same 4Runner. My business partners and I are buying 5 as compnay vehicles. The one's I've been looking at have had MSRP between $42k and $43k.

    We were quoted $650/mo at a dealership in Colorado Springs for 36 months, 15,000 miles/yr, and $1,500 down (which includes 1st month payment). I took those numbers to a dealership in Salt Lake and got them down to $585/mo.

    Have you finalized your lease, yet? What have you found?
  • I have finalized my lease. I ended up getting an '07 4Runner Limited V6 for 4,000 down and $494 a month (taxes included). I did walk away one day and they didn't call me or anything. They really seemed to want to sell it, and it took many hours of back and forth, but in the end I think I got a good deal. It is a 36 month lease/15,000 miles a year. The MSRP was $41K. I live in Seattle. Good luck with your deal! Let me know how it ends up :)
  • By the way, I had a really great buying experience. They listened to what I wanted and did not try to talk me into anything else. AFTER the deal was done, papers signed, etc., the GSM bought me the window and hood shields because I mentioned I wanted them (my Highlander had them). He literally pulled out his wallet and bought them out of his own pocket. I realize that he is making commission off of the deal, but still - he didn't have to do that AFTER the deal. I was in the financing office and the parts guys came in and dropped off all the parts for me! I have never had such a great experience - not only because the GSM bought me those, but because they were very respectful and let me call the shots. After haggling for most of the day, once we made the deal, my salesperson said if I was ever interested in car sales, to call them! They were very nice.
  • I live in the Chicsgoland area and was thinking of leasing a vehicle. I was just quoted a price for a 2007 4Runner Sport V6 4x4 equipped with leather-wrapped steering wheel and shift knob, rear spoiler, daytime running lights, sunroof, tow kit, and carpet floor mats for $29,511.

    I was also told from another dealership that the JBL system is not available for SR5's and Sport models in the Chicago Region, is this true?

    Also, would anyone know what some lease numbers would be for this price with little or no money down?

    I know, way too many questions, but hoping someone might be able to help!
  • Hi Car_man. I've read some of your previous posts and your advice is great. I hope you can give me some guidance.

    I'm looking to lease a 2006 or 07 Toyota 4Runner 2WD V6. Sport preferable, SR5 OK. The only options I'd like are moonroof and possibly tow pkg / trailer hitch. I live in Upland, CA. I'd like to pay zero down if possible. Can you tell me what monthly payment numbers would represent a good deal on a 36 month?

  • newdavidqnewdavidq Posts: 146
    Hello Car Man; I created my own Exel calculator and its pretty neat. I have a question about sales tax. Here in IL we pay sales tax on the entire cost of the vehicle instead of only the depreciation portion. Would it be better to roll it into the monthly pmnts or pay it up front. If the car is a total loss, does that mean the sales tax is still due if it is being paid monthly and if it is paid up front, is it lost just like a cap cost reduction? I know, IL is an unfriendly place to lease. Thanks for all the stuff I have learned from these forums.
  • Thanks camaromullet :blush:. I am not familiar with Upland, California. Is it closer to Los Angeles or San Francisco? Regardless of what region you are in, I really need you to provide me with this truck's MSRP and approximate selling price as well as how many miles per year you need to be able to drive it to work up a sample lease payment on it for you. You can find this truck's MSRP by looking it up in the - New Vehicle Pricing section of this site. The following discussion may give you an idea of how much you will have to pay for one right now: "Toyota 4Runner: Prices Paid & Buying Experience". Let me know what these numbers are and I'll do some calculations for you.

    Prices Paid Forum
  • You're very welcome, newdavidq. I'm glad that you have found these discussions to be so helpful. Illinois certainly is an unfriendly place to lease. I personally would roll the sales tax into my vehicle's lease payment if I was in your area. It would stink if your vehicle got totaled a month or two after you leased it and you has just wasted all of the money that you spent on sales tax. Sure you have to pay interest on the sales tax if you roll it into your monthly payment, but that's actually not a bad thing if your lease has an attractive interest rate. In most areas, Toyota Financial Services' current buy rate lease money factor for the 2007 4Runner is .00181 (this does vary by region). This is equivalent to an interest rate of around 4.34%. Most people can do better than right now that by keeping their money in a good savings account or CD.

    Prices Paid Forum
  • Dear knowledgeable hosts:

    I am trying to secure a 2007 SR5 V8 4WD in Sacramento from here in Canada. I will be moving down there in two weeks time so thought I'd try to secure a good deal via phone and email with a few dealerships.

    From Maita Toyota I got this quote:

    1) 15k mile
    with 0 down @ 36 months, first month plus registration is $795, then 35 payments @ $509.

    2) 15 k mile
    with $3000 down, $442 for 36 months.

    The fleet manager said the MSRP on the vehicle I wanted with sunroof, tonneau covers, spoiler, side curtain airbags, cargo area carpets, roof rack (the usual excess options that I have to take if I want a moonroof), etc was $34959. But he could give it to us for $31980.

    He mentioned there is a special lease program for 36 months at 191 till the end of February.

    Is $509 a month too steep with 0 down? How about $442 a month with $3000 down? Is it better to put money down or not? We plan to walk away from the vehicle after our lease is up.

    Thank you so much. I just discovered this forum today and it's been very informative.
  • dad23dad23 Posts: 430

    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.

  • 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.

    Prices Paid Forum
  • 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.

    Prices Paid Forum
  • 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: 147 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

    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)?

  • 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.
This discussion has been closed.