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Toyota 4Runner Lease Questions

331 messages,  Last post on Mar 05, 2013 at 7:22 PM

You are in the Prices Paid - Buying & Leasing Experiences Forum.

What is this discussion about? Toyota 4Runner, Car Leasing, SUV

Messages Page 29 of 33

#281 of 331 Re: Coming off a lease and have a large excess of mi not used. [galevin] by Car_man HOST

Nov 20, 2008 (5:15 am)

Replying to: galevin (Nov 19, 2008 8:43 pm)
Hi Gerald. You're talking about a web site like swapalease.com. Unfortunately, it is usually more difficult than one would initially think to find someone who is willing to assume a lease. Most consumers would rather lease a brand new truck than pay a similar amount of money to lease a used one. In fact, lessees often find that they have to offer some sort of subsidy to convince someone to take over their lease. You might be able to find someone who needs a short-term lease who is willing to assume your 4Runner's payments, but I highly doubt that you will find anyone who is willing to pay you extra for your unused mileage.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#282 of 331 New to this forum by rocker77

Dec 29, 2008 (9:32 am)

Hello,
 
 I've been reading these forums as a guest and just signed up. I currently am leasing an 06 Runner in the Portland Maine area. My 3 year lease expires in February. I purchased 18,000 miles per year and am currently 4,000 miles under .
Any suggestions how I can turn the under miles in my favor ??
The dealer is telling me they will " waive " my remaining 3 payments and are offering a visa debit card gift card of $ 500-$1,500 to either buy or lease another 4 runner. I have no intention of purchasing my current 4runner. I have tier 1 credit and what is most important to me after getting the best price on the vehicle is either a zero down payment or a deferred payment for 60-90 days. Due to my occupation, cargo space is one of the most important features. Another 4runner, Explorer, Durango, Mountaineer, Pathfinder,or Honda Pilot seem to be my short list of vehicles.
 
Any advice or guidance on how to effectively deal with closing out my current lease ( wait until its due in Feb. or launch it now ) and does Toyota weigh in whether you have gone into another lease or purchase to determine how picky they are on wear and tear on your current lease..
Also, will I get a better lease deal on a new SUV now or in February ?
 
Thanks !

#283 of 331 Re: New to this forum [rocker77] by Car_man HOST

Dec 30, 2008 (5:09 am)

Replying to: rocker77 (Dec 29, 2008 9:32 am)
Welcome rocker77. Unfortunately, normally there really isn't anything that one can do to benefit from unused mileage on leases. One could purchase their vehicle at lease-end and try to trade it in or sell it on their own for a profit, but given the implosion of used vehicle values...particularly those of used SUVs...over the past year, chances are that your vehicle's purchase option price is much higher than its current real world value.
 
Having said this, I see that your lease allows 18,000 miles per year. This is higher than the 15k that most banks allow. In most instances, consumers who need to drive more than 15,000 miles per year have to purchase additional mile on a per-mile basis at lease signing. Some banks do provide refunds for unused miles that were paid for in this manner. You should place a call directly to Toyota Financial Services, or whatever bank your are leasing through, to see if this is the case with them. I hope so.
 
As far as getting out of your current lease early goes, unless Toyota is running some sort of official early lease termination program right now, and I am not aware of one, you are not getting out of your current lease for "free." The dealer is just eating the cost of your remaining payments to put you in a new lease early...which hampers your ability to get the best possible deal on your new vehicle.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#284 of 331 What are good lease prices on 4Runners by waverly911

Feb 09, 2009 (10:07 am)

I am looking at leasing the base model Toyota 4Runner and upgrade it with leather seats. 3 years 15k miles a year 0 down. I am Encore customer. What are goo lease prices. ALSO, I am all paid up on my current 4Runner lease which ends very soon, any tips on what to expect when I turn the car back in and can I use the report from the 3rd party on the condition of the car in negotiating a better note or lowering the money that might be owed on the car that I will turn in.
 
I am 3,000 miles under what I contracted for and have normal wear and tear on the car. Thank you for any guidance you can provide.

#285 of 331 Lease Sales Tax by newdavidq

Feb 13, 2009 (6:58 pm)

Unfortunately I leased my 4R in IL so I'm paying the full sales tax during my 36 mo lease and if I buy the truck I will have to pay sales tax again on the purchase . My question is: If I were to move to another state then bought the truck at lease expiration, would I have to pay sales tax there if that state did not charge tax twice to an instate lease/buy like IL does?
Unless Toyota Financial is willing to deal, it is not likely I would be buying anyway although I had seriously thought about doing so when I got the truck originally. I have 12 mos left. I may be living in AZ when my lease is up.
Thanks much, DQ

#286 of 331 Re: Lease Sales Tax [newdavidq] by kyfdx HOST

Feb 14, 2009 (10:34 am)

Replying to: newdavidq (Feb 13, 2009 6:58 pm)
Right now.. the bank owns your vehicle, and technically, they are the ones who paid the sales tax on your lease.
 
So, it pretty much doesn't matter where you live... Unless the state doesn't charge sales tax on used cars, you'll have to pay the tax again if you want to buy it.
 
Which is why leasing cars in Illinois can be a bad deal.
 
regards,
kyfdx

#287 of 331 Re: Lease Sales Tax [kyfdx] by newdavidq

Feb 14, 2009 (4:08 pm)

Replying to: kyfdx (Feb 14, 2009 10:34 am)
Thanx kyfdx. I'm just reimbursing the bank for the sales tax. This means the bank bought the car from the dealer, which bought the car from Toyota, which in this case owns the bank. I'll have to check AZ to find out what their program is. Maybe they'll credit me with the sales tax I paid to IL. lol !
Thank you again: you were helpful when I leased the truck two years ago.
DQ

#288 of 331 Need current MF and Residuals by stilly

Mar 07, 2009 (2:07 pm)

Looking for the most recent Money Factor for a 3 yr lease. 10k 12k 15k per year. Thanks for the help.

#289 of 331 Invitation by newdavidq

Mar 17, 2009 (3:52 pm)

I just received a letter from the local dealer where I leased my 07 V6 4R inviting me to come in and buy or lease a new vehicle and in so doing replace my present lease and get a new vehicle at the same payment or even less. I have 11 mos left on a 36 mo lease and I will probably be over my 36000 miles allowed by 4 or 5K ( 15 cents/mile)
I don't see how this would be possible, but I'm curious. I might like to get a V8 4R as I could use the extra power for towing. I can only assume they're targeting any leftover 08s they might have in stock. What are current money factors and residuals from Toyota Finance in the Chicago area? Thanks much.
DQ

#290 of 331 Re: Need current MF and Residuals [stilly] by Car_man HOST

Mar 19, 2009 (4:00 am)

Replying to: stilly (Mar 07, 2009 2:07 pm)
Hi stilly. Toyota is not currently providing any lease support on the 4Runner. 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' current buy rate standard lease money factor is .00295 for consumers who qualify for its top aka "Tier 1+" credit tier.
 
TFS' residual value for the '09 4Runner SR5 4WD (they vary by trim level, let me know if you're interested in something different) is 45% for a 36 month lease with 15,000 miles per year. The residual value for a lease with only 12,000 miles per year would be 2% higher.
 
Keep in mind though that unlike most banks, TFS places strict restrictions upon what options can be residualized. This makes it very difficult to calculate the dollar residual values for specific units. So much so that Toyota provides dealers with a list of the actual dollar residual values for the vehicles that they have in stock rather than relying upon them to calculate them on their own.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

Messages Page 29 of 33

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