Toyota FJ Cruiser Lease Questions

gperr

Car_man,

Do you happen to know the Nov '09 RES & MF for '10 FJ cruiser, 4wd Auto for 36 months, 15k miles? Also any other terms have better rates? What effect does a 12k or 10k miles per year have on residual.

Thanks

gperr

CarMan@Edmunds

Hey gperr. Toyota is not currently providing support on the 2010 FJ Cruiser. As a result, if you were to lease one through Toyota Financial Services right now, you would have to use its standard lease program. The last time that I saw it, TFS's buy standard rate lease money factor was .00265 for consumers who qualify for its top aka "Tier 1+" credit tier.

TFS' 36-month, 15,000 mile per year residual value for the 2010 FJ Cruiser 4WD is 66%. The residual value for a lease with only 12,000 miles per year would be 2% higher.

The problem with TFS' residual value percentages is that it places restrictions upon what options can be residualized. As a result, its effective residuals are lower than its published percentages.

Car_man
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gperr

Car_man,

Are any of these options/packages able to be residualized?

Upgrade Package #2 UR
Convenience Package CQ
Running Boards RB
Daytime Running Lights RL
Roof Rack

If not, then I assume I calculated the lease price based on the percentages you gave me and the Base model vehicle MSRP.

thanks

Gregg

CarMan@Edmunds

Hey Gregg. The problem is that very few people know exactly what option packages can be residualized. I suspect that at least part of all of the packages that you mentioned can be residualized, but how much is the question. I doubt that many people at individual dealers even know exactly how the residualization process works. TFS tells them what the dollar resids are for units that they have in stock and that's what they use to calculate leases.

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joepo

Hi, Car_man - can you please provide current lease rates/residuals for a 2010 2WD FJ Cruiser, 36 mons,10K miles/yr.

Thanks!
Joseph

CarMan@Edmunds

Hey joepo. Toyota is not currently providing any support on the 2010 FJ Cruiser. As a result, if you want to lease one through Toyota Financial Services, you will have to use its standard lease money factor, which is currently .00265 for consumers who qualify for its top aka Tier 1+ credit tier.

TFS' residual value percentage for a 36 month lease of a 2010 FJ Cruiser 2WD with 12,000 miles per year is 66%. Having said this, as I mentioned in my reply to you in the 4Runner discussion it is difficult to use TFS' residual value percentages to calculate actual dollar residuals for Toyota vehicles because TFS places restrictions upon what options can be residualized.

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joepo

Car_man thanks for the reply.

CarMan@Edmunds

No problem, joepo.

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t_c

So type of payment are you looking at with the above numbers?

12k miles, 2WD, 36 or 39 months, price of 30-31k, upgrade #2, etc..

t_c

Can someone give me a hand and tell me what the lease payment on the FJ would be?

12k miles, 2WD, 36 or 39 months, price of 30-31k, upgrade #2, etc..

chuck68516

It would be ridiculous. When Car_Man says "Toyota currently is not offering lease support" (which he says often) he means "NOT A GOOD IDEA TO LEASE." .00265 Money Factor is 6.36% APR. That is more than double what the average lease rate is. Some manufacturers are as low as 0.25% APR on their leases. Big difference. I'm guessing it would be costlier to lease than to buy on a 5 year loan.

Toyota is notorious for giving a high residual but then offsetting it with a HIGH money factor and hardly any money off the sticker price. If you want a good Toyota lease you can usually look at the Corolla or Camry. Nothing else.