Toyota FJ Cruiser Lease Questions

CarMan@Edmunds

Hi everyone. Please use the following discussion to post any questions that you have about leasing a Toyota FJ Cruiser. Thanks.

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CarMan@Edmunds

Hey davewest01. As one would suspect on such a new model. Toyota has not been providing any sort of lease support on the FJ Cruiser. As a result, if you were to lease one through Toyota Financial Services right now would will probably have to use its standard lease money factor. I say probably because Toyota's April lease program just expired and it is scheduled to publish its new May program today. I have not had an opportunity to take a look at it yet, but would be more than happy to answer any questions that you have about leasing an FJ Cruiser as soon as I do. Please post a quick reminder for me in this discussion in a day or two and I'll be happy to fill you in on the details of the new May program. Talk to you soon.

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davewest01

Hi Car_man,

Here is the quick reminder you asked for regarding the FJ Cruiser lease numbers.

Thanks,
davewest01

davewest01

Car man - Have you had a chance to look up the current residual value and money factor for a 36-month/12K mile FJ lease?

CarMan@Edmunds

I've finally seen Toyota's lease program for the FJ Cruiser, davewest01. If you were to lease a 2007 Toyota FJ Cruiser AWD through Toyota Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00265 and 71%, respectively assuming that you qualify for TFS' Tier 1+ credit tier.

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qbrozen

Wow!! That's an incredible residual value! Especially for a vehicle with no historical data to go by!

jlh6

How can I get a lease for those rates?! Today I was offered a .0279% money factor with 42% residual value!! The rest of the terms (tier 1)were the same.

CarMan@Edmunds

It is an amazingly high residual, qbrozen. The problem is that it is the residual value for a base vehicle. Toyota Financial Services places limits upon which options can be residualized and caps on the ones that it allows. So this truck's real world residual isn't quite as good as it initially appears. It is still very solid though, especially for a vehicle with such a love it or hate it styling like the FJ Cruiser that has no history to determine how well the public will receive it.

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warhub

(Yes I'm the same guy who is also considering an 06 jetta gli...sounds crazy huh!?)

I recently went to a local toyota dealer in the NYC suburbs interested in leasing a new 07' Toyota FJ cruiser. The FJ in question was pretty well-loaded and had an MSRP of $30008. He gave me the following numbers for a 36-month lease with 15k miles per year. He also suggested that buying it might be a better way to go. Figure 8% NY State income tax. Let me know if this makes sense to you:

Lease:
.0028 money factor,
$18191 end of lease purchase option (which he said equates to a 61% residual),
$0 down other than inception fees,
$530 per month

Buy:
$1500 down payment
7.9% interest
$621 per month x 60 months

Sound about right or too high? Does either option seem like the better deal? Thanks for your help.

mediaguy2

i just was offered the following lease deal on an 07 black fj cruiser. $1,700 up front, includes tax tags registration, cap cost etc. 36 months/12k, $515-a-month. the car is pretty mich loaded with an msrp of $32,228. it has the cq convenience , upgrade 1, c7 convenience, c8 convenience (rock rails), z2 accessory, wl lock set, v5 security rs3200, trd exhaust. 38 miles on it. the original offer from the dealer was $2500 upfront and $540 a month. major phone negs back and forth resulted in the deal listed above. is this a great deal, a middling deal, or a lousy deal. all comments appreciated and thanks in advance.

drewski3

Hi, I am looking to lease FJ and I was wondering if you can tell me if this is a good deal on 36 month lease. Thank you in advance!

MSRP- $28350
Sale - $2740
Due at signing - $2400
Money Factor - .002850
Residual - $15745
Monthly payments - $419

Thanks again!

CarMan@Edmunds

Hi drewski3. A base 2007 Toyota FJ Cruiser 4WD with an automatic transmission has a spread of around $2,100 between its full MSRP and dealer invoice price. If by "Sale - $2740" you mean that you were offered this truck for, $27,400 you are only being given a $950 discount on it. This is a little over $1,000 over dealer invoice. I am not intimately familiar with what the market is like for this model right now, but there is some room to play with here. It would be a good idea to stop by the following discussion to see how much other community members have paid for similar trucks lately: "Toyota FJ Cruiser: Prices Paid & Buying Experience". As far as the money factor that you were quoted goes, it is right in line with Toyota Financial Services' current buy rate for this model. Overall, I would say that this is a decent deal, but check that other discussion to see if anyone has gotten this truck for less.

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yojedi

Hi Car Man,

I am also considering leasing a FJ. Do you have the most recent Toyota standard leasing terms available? Much appreciated.

CarMan@Edmunds

Hi yojedi. As you suspected, Toyota is not currently providing any sort of lease support on the FJ Cruiser. As a result, if you were to lease one through Toyota Financial Services, you would have to use its standard lease program. TFS' buy rate standard money factor varies by region, but it should be around .00285 for consumers who qualify for its Tier 1+ credit tier. The FJ Cruiser's residual values vary by trim level, term, and mileage allowance. If you provide me with this information I will be happy to give you an idea of what the residuals are like for the model that you are interested in.

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rollbar

Is there really much difference in the residual value of a fully loaded vs base FJ over 3 or 4 years?

Roll

vdubdude

Car Man:

You helped me out with a passat back in 2004, hoping you can help me now. Looking to get into a loaded FJ 4x4 (upgrade 2, off road package). What can I expect for money factor and residual in the Denver area. Assuming I qualify for tier 1.

Thanks,
vdubdude

CarMan@Edmunds

Hey Roll. Toyota Financial Services' current residual values for the AWD FJ Cruiser are 2% higher than its residual values for the 2WD version. These residual values are only for base models though. TFS places limits on which options can be residualized and caps on the ones that it allows. As a result, the lease payments of fully loaded vehicles through TFS can be fairly expensive.

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CarMan@Edmunds

Welcome back vdubdude. Unfortunately, Toyota is not currently providing any lease support on the 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. TFS' standard buy rate lease money factor varies by region, but it should be around .00285 or so for consumers who qualify for its Tier 1+ credit tier right now. Its residual values vary by term and mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. TFS' current 36 month, 15,000 mile per year residual value for the 2007 FJ Cruiser AWD is 65%. The problem is that TFS only publishes residual values for base vehicles. Unlike most banks, it places restrictions upon which options can be residualized and caps on the ones that it allows. As a result, it is often difficult to figure out exactly what the residual value should be for a specific vehicle.

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vdubdude

Thanks for getting back to me. I pulled the trigger on Saturday before.

I got my FJ in Greeley, CO. I qualified for Tier1, they gave me .00295 money factor and only 46% residual for an FJ with: AT, upgrade 2, convenience and accessorie package (ie tow hitch). I was greatly disappointed in the residual, but they showed me a spreadsheet that they said Toyota published and that was the rate. That was for a 48 month lease/12K miles.

The good news, I'm driving a vehicle that puts a smile on my face!

chillout7655

It looks like Edmunds.com also uses about a 46% residual- am I right in assuming the residual may change based on location? I am looking at a manual with only the convenience package and the 17 in wheels- I'd hope to have a higher residual over a 36 mo/12k lease.

boldstorm

Greetings:

I am new to this forum and have never bought a new car before and I'm as nervous as a cat with it's tail under a rocker. I have signed all the paperwork at Joe Meyers in Houston, but have not taken delivery - will do that on Saturday - and so there is still room to manoeuvre a little bit. So, a few questions if you don't mind.

1. The type of lease I am getting is a "Closed End Motor Vehicle Lease Agreement - Texas". Is this a good lease?

2. Do I need or would you recommend Optional Mechanical Breakdown Protection or Optional Maintenance Agreement?

3. The FJ is being brought down from Dallas (to Houston) and the total purchase price of the vehicle is $28936 for a 4 x 4 manual FJ with alloy wheels, convenience package, Steel exhaust tip, window tint, Option B package, Extra Mile option package B and Vehicle Shield Package. Due at delivery is $4500 which includes tax, title and license and 47 payments of 476.61 with the total of monthly payments 22877.28.

Am I being taken for a ride or is this a fair deal? Also, what about all the insurance options? So far I have only take Gap insurance which is not mandatory in Texas.

Thanks for your help.

CarMan@Edmunds

Congratulations on your new ride, vdubdude. The ride to work is so much more pleasant when you're driving something that you like, isn't it? Enjoy.

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CarMan@Edmunds

Welcome boldstorm. Most leases today are closed-end leases, meaning that your vehicle's residual value is set at signing rather than being open ended. If I was in your situation, I personally would pass on the extended warranty and pre-paid maintenance. You really don't need them on a leased vehicle.

I would be happy to give you my opinion of this deal, but first it would be a big help if you would provide me with your truck's MSRP. This will show me how much of a discount you are being given on it.

One thing that I can tell you now is that you are paying too much at lease signing. I always advise consumers against making any sort of capitalized cost reduction, aka down payment, on leased vehicles. Those who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered.

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boldstorm

Hello Car-man,

Thank you for your response and wisdom about the optional insurances.

Yesterdays concern and uneasy gut feeling turned out to be correct. I called the dealership and asked them what the money rate for the lease was. They gave me a cash value and I told them, i wanted the percent. After some humming, she told me it was 0.0035. Thanks to info I found on Edmunds.com I multiplied it by 24 and was HORRIFIED to see that the supposedly incredible rate I was getting due to my excellent credit was 9%! I called the Assist. Sales Mgr and told him I had no plans to continue through with the lease and would not take delivery of the car because I could not trust them. He asked me to come in on to talk about it. I will do that, but this time will be smarter.

You asked me about the MSRP. I priced the package etc. on toyota.com and got the price of $30,233.00.

Anyway, your thoughts are greatly appreciated.

Regards,

John
aka Boldstorm :mad:

seanwest

Car Man,
Can you tell me the April lease rates for the TOYOTA FJ CRUISER BASE 4WD AUTO? For 36mo with 12k miles? This would be for the Virginia/Maryland region.
Thanks much.

CarMan@Edmunds

You're very welcome, John. You were smart to find out what money factor the dealership that you were working with was trying to charge you before finalizing your deal. A factor of .00350 is terrible.

Let's take a look at the selling price that you were quoted. You are being given a price of $28,936 on a 2007 Toyota FJ Cruiser 4WD that has an MSRP of $30,233. A base version of this truck has a spread of around $2,100 between its full MSRP and its dealer invoice price. The $1,300 discount that you are being quoted on this truck isn't bad, but you may want to stop by the following discussion to compare it to the prices that other community members have paid for similar trucks lately: "Toyota FJ Cruiser: Prices Paid & Buying Experience".

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CarMan@Edmunds

Greetings seanwest. According to the latest information that I have seen, if you were to lease a 2007 Toyota FJ Cruiser 4WD through Toyota Financial Services in its Central Atlantic region right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value would be .00285 and 63%, respectively, assuming that you qualify for its Tier 1+ credit tier. Unfortunately it is difficult to translate this lease program into a lease payment because TFS calculates leases differently than most other banks. The residual value percentages that it publishes are for base vehicles. It places restrictions upon which options can be residualized.

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kreative1

I am planning to lease a new FJ. I have never down it before and I would like to go into it some what knowledgeable. Any tips would be appreciated.

I live in Sacramento, CA

2007 FJ
4x4 Manual
Roof Rack
Conveinence pkg
Upgrade pkg 1

my credit score is 660

kreative1

Net Cap Cost:
$26,988
Residual:
$15714
Money Factor:
.00285 (based on tier 1+ credit)
Acquisition Fee:
$550
I've gotten other bids on the same Fj and their offers are lower by $800

$807.47 drive off
$486.72/mo x 35 months.

In stock and ready for immediate delivery, here's what this window sticker looks like:

Model Description: WAGON Category ..........: G
Year ...........: 2007 Current Dealer ....: 120-04077
Interior Color ..: FA11 FA11 Wholesale Dealer ..: 04077
Exterior Color ..: 02JR WH/TI Previous Dealer ...: 00120
Body ............: 4x4 SUV Invoice Date ......: 05/24/07
Number of Cyl ..: 6 Ship Date .........: 05/25/07
Allocation Number: 051 Retail Date .......:
Engine Number ...: 5450414 Date of First Use .:
Vessel Number ...: 568 TRAC ..............: NO
Vessel Name .....: C.H 3 V034 Damage ...........: NO DAMAGE
PDI ...............: YES
Fleet .............: NON-FLEET
Port PDS Complete .: NO

VIN .............: JTEBU11F770090288
Ignition Key.....: 52332

Factory Installed Accessories: FE CQ GY UP
Port Installed Accessories ..: CF

Retail
Vehicle Base Model ...................: $ 23290.00
Total Accessories .....................: $ 4839.00

MECHANICAL
239HP 4.0L V6 VVT-i
6 M/T
Full-time 4x4 System, Torsen Center
Differential with Locking Feature
Locking Rear Differential
Variable Gear Power Steering
P265/70R 17" Black Steel Wheels
Full Size Spare-Rear Door Mounted
EXTERIOR
Black Overfenders
Black Bumpers (Silver Tone Highlights)
Skid Plates (Engine,Transfer Case, Fuel)
Silver Tone Door Handles and Mirrors
White Roof/Tow Hooks (2 Front/1 Rear)
Mudguards
COMFORT AND CONVENIENCE
8-way Adjustable Drivers Seat
Water-repellent Seats
Rubber-like Cabin & Cargo Area Flooring
60/40 Split 2nd Row Seats w/Removable
Bottom Cushion
AM/FM/CD Audio 6-Spkrs (2 In Headliner)
Power Windows & Door Locks
Tilt Urethane Steering Wheel
Exterior Color Center Front-Dash
Panel Insert
Sunvisor with Mirror(Passenger Side)
4-Cup Holders/2-Bottle Holders
Rear Defogger
Rear Cargo Tie-down Hooks
Passenger Seat Back Pocket
SAFETY
Driver & Front Passenger Airbags
Star Safety System: Vehicle Stability
Control(VSC),Traction Control,Anti-Lock
Brake Systm(ABS) w/Electrnic Brake-force
Distribution(EBD) & Brake Assist
3-pt Seat Belts in All Seating Positions
ELR Dr Seat Belt/ALR & ELR Pass Seatblts
ISO Fix Anchors in Outer Rear Seat
Locations/Top Tether Anchors All Rear
Seat Locations
Retail Total
Vehicle Base Model .........................:$ 23290.00 $ 23290.00
50 State Emissions ........................
Convenience Package: Remote Keyless ....... 1840.00
Entry, Cruise Control, Power Outside .......
Mirror with Image Light, Rear Parking .....
Sonar, Privacy Glass, Rear Wiper, Daytime ..
Running Lights .............................
Curtain Shield Airbags (Front Row and 2nd .. 650.00
Row) with Front Seat Side Bolster Airbags ..
Upgrade Package #1: A-TRAC, Multi-Info ..... 2150.00
Display (Dash Mounted/Exterior Temperature .
Gauge, Compass, Inclinometer), .............
P265/70R 17" Alloy Wheels, 2-1 Audio .......
6-Disc Changer, D-Pillar Speakers,400W ....
Inverter, (No Subwoofer), Leather Steering .
Wheel w/Audio Controls/Cruise Control ......
Function, Color-Keyed (Exterior Color) .....
Interior Door Trim Inserts ................
Carpet Floor Mats & Cargo Mat ............. 199.00
--------- ---------
Total Accessories ..........................: $ 4839.00 $ 4839.00
Destination Charge ..........................: $ 645.00
TDA ........................................:
Gasoline ...................................:
Dealer Holdback ............................:
Whsl. Financial Reserve ....................:
---------
Total ......................................: $ 28774.00

Residual Value ...: 24 36 48 60
------- ------- ------- -------
STD 16,645 15,248 12,769 10,440
LOW 15,714 13,235 10,906

steevo

Is the Toyota MF for FJ still the standard .00285? Also, if only factory options, what is the Residual?
Thanks!

steevo

Dealer told me MF is .00260 right now....

steevo

Can anyone confirm the MF?

allerb

I was given a lease quote for 36 months, 36000 miles today for an FJ with a MSRP of 31006 with a negotiated purchase price of 27995 of 523.79 per month. I am thinking that this is high. Can someone tell me if this in the ballpark for a good lease price. Using the Payment calulator provided by TFS I was able to get a Lease price closer to 400 per month.

Some other details below.

Base Model - 23,700
Convenience Package - 1,840
Curtain Shield Airbag - 650
Running Boards - 345
Upgrade Package # 1 - 2,560
Carpet Floor Mats and cargo Mat - 199
Towing Hitch and Harness - 349
Stainless Exhaust Tup - 69
Roof Rack - 649

Total Accessories 6661
Destination Charge 645

Residual - 15469

steevo

allerb, That lease is garbage. 36 months with 15000 a year should be closer to 400 at that price point.

We need to know the actual MF and Residual used. THe residual is hard to figure with Toyota but I think it ends up around 53% after you figure the options. Last MF quote I got was .00250 .
CAr_MAn if you are reading, do you know the August MF for 2007 Toyota FJ Cruiser? And is the 2008 model MF out yet?
TIA, Steve

steevo

Car_Man if you are reading, do you know the August MF for 2007 Toyota FJ Cruiser? And is the 2008 model MF out yet?
TIA, Steve

marist07

Hey Guys!

What's goin on? First post... looks like an awesome forum! Ok, so here's the deal I got at my Toyota dealership:

3329 down
329/month
Base Model with 5 speed auto/4wd
locking rear dif
...etc some other options, but no package

the msrp is 27,215 i think.

do you think i did ok with this deal?

steevo

"Hey Guys!

What's goin on? First post... looks like an awesome forum! Ok, so here's the deal I got at my Toyo"

Looks pretty dead to me.....

CarMan@Edmunds

Hi Steve. Toyota is providing lease support on the 2007 FJ Cruiser in a couple of its regions right now. I would be happy to give you an idea of what this truck's current program is like if you tell me what state you are in.

The 2008 FJ Cruiser was introduced. Unfortunately, Toyota is not currently providing any lease support that I am aware of on it. As a result, if you were to lease one through Toyota Financial Services right now you would have to use its standard lease program. I believe that TFS' buy rate standard lease money factors vary slightly by region, but they are probably around .00275 for consumers who qualify for its Tier 1+ credit tier (credit score of 730 or higher) in most areas right now.

TFS' residual values vary by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you want a 36 month lease with 15,000 miles per year. TFS' current 36 month, 15k residual value for an '08 FJ Cruiser AWD is 66%. Keep in mind though that Toyota only publishes residual values for base vehicles. It places restrictions upon which options can be residualized. This makes calculating vehicles' actual dollar residual values fairly tricky.

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CarMan@Edmunds

Welcome marist07. You never mentioned the selling price of the FJ Cruiser that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of the vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

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pss2

Here's the deal I was just offered in Souther Cal.

2008 4x4
Upgrade package #2
Mats
Running Board

$2200 down and 450/mo 4yr term. 12000 miles per year.

Any good?

pss2

I forgot the MSRP. Sorry. It is 29,976

krw1

I was quoted the following on 07 FJ:

36 month, 12,000 miles

MSRP- $27,624
Invoice- $25,162
Selling price $24,362
Residual- $15,256
Money factor .00285
Acquisition fee- $550
License/Reg fee -$799
Zero down no money paid upfront
Monthly payment of $447 plus tax for 35 months.

Is this a reasonable deal?

Thanks for any help.

steevo

I get 365 if you are paying the aquisition and license up front. Otherwise around 400-410. Are you sure that monthly doesnt include tax?
Maybe they are taking a down payment but rolling it in?
Anyway, common sense should dictate that 447 month is way too high to pay for a 24000 dollar sale.

24000 at 6% would be 475 a month on a 5 year loan.

I say they are trying to rob you.

CarMan@Edmunds

Hi pss2. Do you happen to know this truck's selling price as well? It is probably the most important number to focus on when negotiating a lease. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what the selling price is, you don't know how much room you have to negotiate. Let me know what the selling price is and I'll tell you what I think.

For now I can tell you that Toyota is not currently providing lease support on the FJ Cruiser in you area. As a result, if you were to lease one through Toyota Financial Services' right now you would have to use its standard lease program. Its buy rate standard lease money factor varies slightly by region, but it should probably be around .00275 to .00285 for consumers who qualify for its top credit tier.

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CarMan@Edmunds

Hi krw1. A selling price of $800 below dealer invoice is an excellent deal on a 2007 Toyota FJ Cruiser. Plus the money factor that you were quoted is right in line with Toyota Financial Services' buy rate for this model. The acquisition fee is right, too. At first glance, this looks like a good deal to me. However, the payments that you were quoted look strange. I come up with a zero down, pre-tax monthly payment of around $366 without the $550 and $799 fees added into the cap cost and a payment of around $408 with them added in. I doubt that sales tax amounts to $40 per month. Have the dealer double check the payments.

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romis257

I am new to the forum and after reading some of the posts, I am getting a sick feeling on a deal I thought was very fair. I leased the FJ Cruiser last night. It is a 2008 and what seemed to be loaded (front grill,brush guards, fog light, roof rack, side boards). It was leased in lake couny ILL. It is a 36 month lease, 15k miles per year, and no money down (except first month payment, title fee, and license transfer = $726). Tax's are rolled into the lease. Total tax was $2103. The agreed Gross Capitalized Value is $29750. My MONTHLY PAYMENT $570. Please tell me if this is a fair price? Even if it's a ballpark guess. I keep seeing in the forum here, payments of around $450?
Final question. Is there any type of law that protects the consumer if after signing, they have like 24 hours or 2 business days to cancle?.
By the way, the above is close end lease. Depreciation and any Amortized Amounts over lease term is = $16454. Rent charge = $4729. Total of base monthly payments = $21184.92. Thank you in advance for any help.

monkee08

Anyone that has leased an 08 FJ March or April 08 I would love to know what your numbers are as there are no incentives for this vehicle right now.

despy

I dont get it..........when I look at the TMV (based on my area) on the prices on this website or like these the price for the vehicle is around 21 to 23 thousand and thats MSRP!!!....however when I got qouted from some dealers around here there charging full sticker as if the FJ would be brand spanking new (charging 27,835 MSRP best price I could get out of them after some haggling was 25,535 before taxes and fees) at this rate I told one salesman im just better off waiting until the '09s come out and walked away...I understand that it is a model year vehicle but still if I was to drive it off the lot tommorrow and paid that price I was offered in essence thats almost four grand I lost right there..now am I right for thinking like that or is that just the nature of the beast living where I do...HELP!!!

onuzj

So in May of 2008, I bought a pre owned 2007 FJ Cruiser w/ 16000 miles for around 24k plus warranty n stuff came out to around 27K. I had a $487 payment for 72 mos. A year later, i noticed that the vehicle had depreciated so much and that i was under and thought it wasn't worth it. in an attempt to get out of it, i leased a new 2009 yaris, which i am now paying $450 a month for 60 months, with $4000 down. Is there any way out of this [non-permissible content removed] lease? I thought of posting on lease trader but who would pay $450 a month for a yaris? any insight as to how i could've done this or what i still can do?

kyfdx

The reason your lease payment on the Yaris is so high, is you rolled in all of the negative equity from the FJ Cruiser.. That was a big mistake. You would have been much better off to keep makiing the payments on the FJ Cruiser. At the end of 5 more years, you would have owned it. What a vehicle is currently worth is of no consequence, if you don't sell it.

The Yaris? You are stuck with that payment. Your mistake has already been made.. Anything you do, other than ride out that lease will cost you thousands more..

I wonder what made you go through with that deal, once you saw the numbers?

regards,
kyfdx

onuzj

Thanks for the reply. I guess i was thinking that i was going to have a lower payment for the meantime and at the end of the lease, i'd be done and just walk away and start fresh. Only thing is, i feel like a base liftback yaris for $450 isn't worth it, but i guess i'm just paying off all the negative equity that got rolled over from the fj cruiser. The mistake's been made. I'll just ride it through. Great mileage though. ha.