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Toyota 4Runner Lease Questions
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Dealer is including Acq. Fee $400 (say it it required) and making me pay upfront for license, doc and and reg. fee ($433). They are showing me 60% residual after 3 years with 16,000 miles/year. They come up with a lease payment of $365/month with 6.5% tax.
Using he Edmunds lease calculation (Calculate your own lease payment) I come up with something around $330 with 6.5% tax. I did not include an acq. fee in my calculation but did use Edmunds Invoice number.
What gives.
"Lease based on a 2006 4Runner SR5 RWD V6 (model #8642) equipped with options FE, DR, CD, SR, and TO. $1,999 due at signing. Incentives may vary; see your local dealer for details. Tax, tags and insurance are extra."
So I added the Options to the MSRP of 27,635. with SR $900, TO $430, DR $220, CD $ 90 and FE $0... Totals: $ 29,880 (includes Dest $605)...
Anyone been through this yet? I need HELP!!!!! Ha!
Q1: So is that the MSRP the lease is based on? Has anyone seen the deatils on the offer from Toyota direct.. I can't find it on their websites...
Q2: Anyone know what the Moneyfactor and residual would be on this?
My dealer has several SR5s but they have more options so I want to be able to do my own math.. somehow they are at $420/month.. Got to love em
THANKS!
Did I get a decent deal?
I just leased a new 2006 4runner SR5 V6 4WD with premium sound (6-disc changer), Sun Roof, 17 inch wheels, tonneau cover and a few other bells and whistles. The MSRP for the SUV was around $33,500.
I traded in my 2003 Taco, which I had about $2000 "equity" in.
I walked out the door with $0 down (aside from my trade-in equity) and $350 per month for 36 months at 15k miles per year.
What do you think? Good deal, or did I get hosed?
Can you provide me with the residual and moneyfactor numbers for both a 24 and 36 month lease for a 2006 Toyota 4Runner LTD. I would be interested in both the V6 and V8 models.
Are there any incentives for this model?
I live in the state of New Hampshire.
Regards,
Chris
Toyota West - Columbus Ohio - Excellent Experience.
Black with Beige 4Runner SR5 V6 4WD
Options: AW, FE, DR, SR, RF, CD, TO, Mud Gaurds, Whl Locks
MSRP: 32,700
Negotiated Cap Cost: 29,710
Money Factor: .00005
Residual: 18,994
Money Down: $200
Rebate: $400 Toyota Recent College Graduate Rebate
First Year of Oil Changes, Tire roations etc etc.
Added aftermarket leather seats $850
Leased for 36 months with 12,000 miles/year for $355 per month including tax, title, license, and gap insurance with Zero money down.
Paid $561 at signing for first month and TTL.
Hope this helps!
PS They wanted a credit score of 730 for this and I only had a 666 (maybe they thought I was the devil). They said I was a "tier 2" and I needed to be a tier 1 (credit rating of 730) but when I walked they bumped me up to tier 1.
Some of it was a bit of luck too - I sort've stumbled into the fact that IN had the low money factor rates. One thing I can't stress enough (notes from Car_Man's sermons!) - make sure every number is accounted for and can be matched via your own financial calculator or online lease calculator. In my past experiences (5 other leases), I find dealer's to be very suspiciously secretive about their lease payment calculations. If they can't reconcile their numbers to mine clearly, I walk.
Your success and mine are great examples of the value of this forum. By contributing back, hopefully we're giving tools to the next guy to strike an even better deal. We'll be tipping hats to someone new tomorrow because we contributed to this forum, and hopefully they'll give back what they learned to the next guy as well!
Thanks again to all who contributed information to help me get my deal!
Car_man
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Another dealership had me at $344 on Monday and would not give any better deal on the price, went across town (Jon Lancaster) and they gave me what I asked for, no hard sell on any add ons.
I do financial calculations at work all the time (net present value etc.) and this deal is mind boggling from a financial standpoint. I was considering paying cash (up to $25k) for a vehicle. That money will now sit in the bank earning 5.5% interest which I will use to buy out the lease in 3 years (I should have ~$4500 in interest from the $24500 I did not spend). Accountants and dealer employees should be all over this one...it is essentially an interst free 9 year loan, with the option to change your mind after 3 years, unreal.
You almost have to lease, when you run across a deal like this..
regards,
kyfdx
Edmunds Price Checker
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Only it is new...
FYI I will but it out at the end of the lease cuz I know where it has been, UNLESS gas is at $5,00 galloon, then we will see how that residual value turns out.
Thanks for the comments, hope the July deal isn't .00001 plus $2000 off. May not matter since the silver 06's were getting rare anyway.
Thanks in advance
Could you tell me what the residual, lease factor & cap cost should be for an '06 4Runner Limited - MSRP is 39,312.00 - based on a 36 month lease, 15,000 miles/year. I am in Louisiana. The salesman said the rate factor is .00065 and that the residual would be 19,856.00.
Thanks.
2 Quick Questions -
Can you give me an update on Money Factors and Residual Value. I'm looking for an SR5 4WD. Assuming, 12k miles - I'm in Oregon.
Also - I can't quite understand yet WHY when leasing - rebates arn't allowed. For example, I wanted to lease a Froniter but the dealers kept telling me that the $1500 cash back was only available when financing. I understand that they probably make more money when you finance - but what if you wanted to pay cash? Also, are there any rebates incentives that I can combine with a 4Runner lease.
Thanks Much
Car_man
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The reason why manufacturers' cash incentives are often not compatible with their special lease programs is that the special leases are already very expensive for manufacturers to provide. It would really cost them an arm and a leg if they let consumers double dip and take advantage of both the customer cash and the special lease. Some automakers, like GM, Ford, and DaimlerChrysler, actually have rather large cash incentives on leases. However Nissan and Toyota usually do not. Toyota is not currently providing any cash incentives on leases of '06 4Runners in your area.
Car_man
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Thanks
Here's the details:
MSRP: $41,300
Sale: $36,700 (2% over invoice)
Residual: 54%
Money down: $3,337 ($2500 cap, $162 tax, $320 title, and first month payment)
Monthly Payment: $393.91 for 12k per year. $415 for 15k per year.
This is an awesome deal (minus the money down) and and they were pretty flexible on meeting my demends on a trade in. Basically got a fully loaded Limited 4-runner for $3 of interest per month. Tough to beat that.
I also tried Beechmont Toyota and was highly displease with the games they were trying to play with me on both the 4-Runner and my trade in.
I am trying to decide to either buy a preowned 4 runner with low mileage or lease a brand new one. I went to Fred Haas toyota here in Houston. I first spoke with this rude salesman that i could not even understand. I asked to speak to someone else i got quoted 350 for a basic 06 4 runner everything basic. Car man can you tell me what i need to ask when i ask for a quote. I am 24 but look younger so when i go they try to rip me off that's why i need to know all the info on leasing a vehicle.
Thanks!
Sara
I also wanted to ask if I lease a vehicle can i add my own things to it for example a dvd system in the back.
Also does anyone know where i can get a great deal here in Houston and it's surrounding areas.
I am torn between the Acura MDX and the 4Runner and I am leasing today. The Acura is my fav but the current money factors stink although they have a $2500.00 rebate that applies. Safety and features are better on MDX Touring too. With that said, any way to get a better money factor on the MDX? Dealer said August will be no better since redisuals will change again. I can lease MDX Touring for $421.00 a month at invoice, less cash and the 4Runner LMTD 6cyl for $394.00 Which do you recommend? Also, is the RDX replacing the MDX? I love the 4Runner too!!! Please advise.
Thanks!
I was in the same situation you are currently in. The MDX was my first choice, but Acura was pretty firm on the money factor (as most luxury dealers are). How many miles per year are included in the $421/mth price for the MDX? That sounds like 10k per year at that price.
I ended up leasing the 4-Runner and like it very much. The MDX isn't quite as sporty as the 4-runner, so it depends on what you are looking. You can't go wrong with either choice. They are both pretty similar in nature.
As for the RDX, I believe that is a smaller verison of the MDX. Similar to the X3 for BMW.
Thanks!
Is there a resource on the web that is available to the consumer? Thanks again for all your valuable knowledge. I've been checking this forum daily.
I'm looking at leasing a 06' 4runner. My goal is to get the most options and keep my payments under $350/month. I don't have a trade-in and I'm not going to put anything down. If I qualify for tier 1 pricing, which model/options should I expect to get for under $350?
Thanks in advance!
Mary
I just leased an 06 Ltd v6 with the following options:
JBL PREMIUM 3-IN-1 W/IN-DAS
CURTAIN AIRBAGS
REAR SPOILER
DAYTIME RUNNING LIGHTS
POWER MOONROOF
TOWING PACKAGE
CARPETED FLOOR MATS
DOOR SILL ENHANCEMENTS
FRONT SKID PLATE
MSRP: $40,649
Sell price: $35,595
Lease: $448/mth for 15,000 miles per year (before sales tax)
Total cash due at signing: $865 for Acq fee, 1st month and Reg.
That's it....I think it's pretty good considering I put near nothing down.
I will say this, Toyota is doing some funky things with their residuals. They are not calculating the residuals on MSRP. Rather, they are using a formula based on MSRP before options, etc. In the end, the 55% residual seemed more like 51%.....
MSRP: $29,166
Selling price: $24,388
MF: .00055
Residual: $16,405 (56%)
Zero down, add the tax, license, and acquisition fees to the price of the car. For 36 months payments came out to $292.79, does this sound about right and a good deal?
Thanks!
I'm not interested in playing games with these salesmen, so any advice you have for me to get the same pricing as you would be GREATLY appreciated!
Thanks!
MDXMEW
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"2006 4Runner SR5 V6 - Lease Starting at $289 per Month
$289.00 Payment
$1,999.00 Due at Signing
48 mos. Term
Closed-end lease on all new 2006 4Runner SR5 V6 model number 8642 with select equipment. Adding options increases payment. $2,288 due at signing includes $1,999 down and first month's payment. $26,943 Adjusted Capitalized Cost based on $1,999 down payment. Lessee pays maintenance, excess wear and tear and $0.15 per mile over 12,000 miles per year. Lease-end purchase option $17,643. Monthly lease payments total $13,879. A Disposition Fee of $350 is due at lease-end. Lease offer only available to qualified lessees through Southeast Toyota Finance. Retail sale and delivery must be completed by August 31, 2006. PROGRAM DATES: 08/01/2006 - 08/31/2006"
You probably would be able to get the aforementioned truck for under $350 a month, zero down before tax, especially given the fact that most manufacturers' advertised lease payments leave a little meat on the bone so to speak in terms of vehicles' selling prices.
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