Last post on Dec 31, 2012 at 1:53 PM
You are in the Toyota Sequoia
What is this discussion about?
Toyota Sequoia, SUV
#8905 of 8984 Re: Buy 2004 Sequoia at Lease End? [canddmeyer]
Oct 10, 2007 (5:48 am)
Tidester, sorry for posting in a few different topic threads. I wasn't sure where it belonged and some topics seem to be more active than others. Yes, I think the dealer should restore the vehicle to usable condition but that is also why you should have a mechanic check out a used vehicle you buy or make sure it is certified preowned.
Canddmeyer, thanks for your input -- yes, we think it would be a good purchase especially on a Toyota and I've treated it pretty well although our only concern is when we want to sell it in 3 years as a 6 year old vehicle, how will the resale market for large SUVs be. I hear it is already bad with the current gas prices.
#8906 of 8984 Re: Buy 2004 Sequoia at Lease End? [baseballmom97]
Oct 10, 2007 (1:19 pm)
Toyota's usually have a premium resale value, so I wouldn't worry about it even if gas skyrocketed. I'd expect the value 3 years down the road to be more than 50% of what it is today. Since you are getting an Acadia, your husband could borrow that when it snows, and you two could pursue another economical vehicle to replace the Acura if gas prices got you worried. The Sequoia seems to be the odd man out since the Acadia is replacing it.
#8907 of 8984 Re: Buy 2004 Sequoia at Lease End? [canddmeyer]
Oct 11, 2007 (2:11 pm)
Thanks for the input so far.
Here's another interesting twist to the situation:
We stopped by the Toyota dealer today to have the service department look at the plastic that is peeling off the rear bumper to see if it is covered under warranty. While we were waiting for the service manager, I walked onto the sales floor and ended up speaking to the general manager of the dealership about when the 2008 Sequoias are expected in. He said they wouldn't get them until Dec. or Jan. and they would either be an '08 or '09 model -- he wasn't sure but knew they would be a lot bigger.
I asked if he could get any 2007 Sequoias in yet -- he said probably. Then I mentioned that I had a leased 2004 Seq. that is up in December. He said "let me take a look at it."
Then he said he'll look for a 2007 with the options that we want and that we might just be able to buy out the 2004 and then trade it to him for the 2007. Our buy-out price from the leasing company (not Toyota Financial) is $24,178. He said that way we would avoid the charges for the excess mileage, dings, and worn tires (the back tires are awful) and he said we also wouldn't pay tax. He seemed to be very excited about the Sequoia -- said they're hard to come by...not sure if this was a line.
We've never done this type of deal before. If it works out for us to buy the 2004 Seq., trade it towards a 2007 and end up with no money taken out of the savings account, no money down and roughly the same monthly lease payment that I currently have ($501), I'm inclined to think it's a fair deal. What am I missing and what should I look for to make sure we don't get taken?? Thanks again!
#8908 of 8984 Re: Buy 2004 Sequoia at Lease End? [baseballmom97]
Oct 12, 2007 (12:47 am)
I'm not as trusting as you. Don't buy the Sequoia unless you are going to keep it is my opinion. But first, don't risk personal injury to yourself and others because you want to save $500 on tires. If the tires are really that bad, get two new rear tires. One wreck due to loss of traction or a blowout between now and the time the lease expires will cause you much aggravation, not to mention some new insurance rates.
If your dealer wants to sell or lease you a new Sequoia, work that deal separately forgoing any trade-in. I wouldn't buy it to trade it in. If you want another Sequoia, jump on the internet and look for one, and don't wait until your lease is up. Obviously money isn't too much of an issue since you'd be in for two new vehicle payments. You might want to consider ownership this time around.
#8909 of 8984 Re: Buy 2004 Sequoia at Lease End? [canddmeyer]
Oct 12, 2007 (6:06 am)
Good advice, Caddmeyer, thanks!
Yes, I will get the tires replaced -- they are okay -- just need to be done before Winter -- we will be making a final decision on whether to keep or turn in the vehicle in the next week.
Actually, I'm not that trusting but we've bought 3 cars from this dealership and have gotten fair deals everytime through negotiating. I will not get taken on this deal and agree that I definitely need to work the trade-in separate from the purchase of the new Sequoia. My thinking is that if the dealer wants the 2004 Seq. so badly, he has to make it worth my while for me to go through the hassle of buying out the old one and trading it.
Here are the possible scenarios:
1) Turn in '04 Seq. at end of lease -- pay excess mileage, wear and tear charges plus $395 lease end price (option not to buy -- bank snuck that one in there.) We're talking probably in the $1000 - 1500 range.
2) Buy out '04 Seq. for $24,178 plus tax and keep. Yes, and replace tires!
3) Buy out '04 Seq., don't pay tax or excess wear and tear charges. Trade to dealer for '07 Seq. The only way for this deal to work is if he sells the '07 below invoice (with $1500 cash back) and gives me exactly the residual value for my '04.
Does this make sense?
#8910 of 8984 Re: Buy 2004 Sequoia at Lease End? [baseballmom97]
Oct 13, 2007 (4:13 pm)
I am not sure which model Sequoia you have now. You can buy a 2007 Limited for about $35k base. We just bought a loaded one that listed for almost $52k for $41k. That price on your 2004 seems high to me with what needs to be done. The price of gas has shot the big SUVs down here. Lots of Toyota dealers willing to go way under invoice to move big SUVs and PU trucks. I like mine except the NAV.
#8911 of 8984 Sequoia NAV less than acceptable
Oct 13, 2007 (7:32 pm)
I have a 2007 Sequoia with NAV. I find it very poor on giving directions. I have put in several known places that are long established roads, this NAV does not route even close to the best routes. It would have taken me 6 miles out of the way to my brother in laws place today. It gives 3 routes. The shortest was on a dirt road that is gated forest service land. Been closed for years. This may be acceptable in some locations, not San Diego county so far. It has all the road names correct and the GPS tracks fine. It just does not do an acceptable job finding a good route. At this point I am sorry I bought the limited with NAV.
#8912 of 8984 Toyota Sequoia 2001
Oct 19, 2007 (6:40 am)
79,000 miles and as others - Gas Gauge stopped working 300.00 for it, the back latch broke 300.00 for it, Check Engine not that simple 600.00 for that, and now at this 79,000 miles the electric locks unlock if I make quick right turns. Along with this the open door flashes if bumpy road and one last thing happened twice and thank god went off. That security key that flashes- in the wee hours horn started and lights flickered for no apparent reason and then stopped???? (do not have remote for this model?)
Any suggestions or others with cost on this?
Oct 19, 2007 (7:22 am)
I can't believe the new Sequoia is not going to be available till Dec 2007 or Jan 2008. They have already introduced the Tundra and now I see that the 2008 Land Cruiser is out. I would think toyota would have done it the otherway around being that the Sequoia is more popular IMO.
Oct 20, 2007 (11:48 am)
I am a High School student and looking for my first car. I want something reliable and with 4WD, in central New York you get a lot of snow. I haved looked at many suv's, I dont like the rav-4, 4runner (before 2003), and Highlander. I like the Sequoia and Land Cruiser although the Land Cruiser is to expensive. My budget is $16,000. Does anybody have any suggestions.