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Toyota 4Runner: Lease Questions

295 messages,  Last post on Dec 08, 2009 at 3:10 PM

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#274 of 295 Re: 4 Runner Money Factor and Residual Values [Car_man] by asm0721 Oct 24, 2008 (5:18 pm)
Replying to: Car_man (Sep 16, 2008 1:44 am) Car Man:   I am looking to get an 08 leftover in the Pittsburgh area. I was able to get a price of 30,350, $1000 below invoice. Now I am deciding if I want to buy or lease. We are currently leasing an 06 4runner now and have tier one+ with Toyota. What are the current residual values and money factors in the Pittsburgh area for an 08 4*4 Sport v6... Replies to this message: Car_man (Nov 02, 2008 5:26 pm)
#275 of 295 2008 4wd Limited V6 by rsamerica1 Oct 25, 2008 (10:28 am)
Got quote today on an '08 4wd Limited w/ 4.0L 6 cyl with:       * 50 State Emissions     * Carpet Floor/Cargo Mat (5 or 6-Piece Set)     * Daytime Running Lights     * Exhaust Tip by Valor     * Limited EVP #1     * Power Tilt & Slide Sunroof     * Radio: JBL Synthesis AM/FM/In-Dash 6-CD     * Rear Spoiler w/Center High Mounted Stop Light     * Tow Hitch     * X-REAS Shock Absorbers   MSRP $39,534 Without negotiating $33,500+ TTL ($3535 dealer "savings" / $2500 rebate).   Not sure, but curious to know 1) how this appears at first glance and 2) what the current residual value and Tier 1 money factor is for this at 12000 and 15000 miles per year for 36 months.   CarMan? Replies to this message: Car_man (Nov 02, 2008 5:36 pm)
#276 of 295 Re: 4 Runner Money Factor and Residual Values [asm0721] by Car_man HOST Nov 02, 2008 (5:26 pm)
Replying to: asm0721 (Oct 24, 2008 5:18 pm) Hi asm0721. In every region that I have seen its lease program for, Toyota Financial Services' buy rate lease money factor for the 2008 4Runner is .00050 for consumers who qualify for its Tier 1+ credit tier.   The residual values for this truck vary by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let let know if you want something different. TFS' current residual value for a 36 month lease of an '08 4Runner SR5 V6 4WD with 15,000 miles per year is 47%. the problem is that TFS places restrictions upon which options can be residualized, thus making it very difficult to calculate the actual dollar residual values for vehicles.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#277 of 295 Re: 2008 4wd Limited V6 [rsamerica1] by Car_man HOST Nov 02, 2008 (5:36 pm)
Replying to: rsamerica1 (Oct 25, 2008 10:28 am) Hi rsamerica1. The truck that you are interested in probably has a spread of at least $4,000 between its full MSRP and its dealer invoice price. That puts the $3,535 dealer discount that you were quoted at around $500 over invoice. If you opt to lease this truck through Toyota Financial Services to take advantage of its special lease program, you cannot use the $2,500 cash incentive to reduce its selling price further.   In most regions, TFS' current buy rate lease money factor and residual value for a 36 month lease of a 2008 4Runner Limited V6 4WD with 15,000 miles per year are .00050 and 46%, respectively. The residual value for a lease with only 12,000 miles per year is 2% higher. Unfortunately, these residual value percentages are not very useful because TFS places restrictions upon which options can be residualized, making it very difficult to calculate lease payments.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#278 of 295 Coming off lease in Ohio. by dakota9 Nov 17, 2008 (3:38 pm)
I have an 06 4runner SR5 that I am currently leasing that will end in a couple of months with the following terms:   36 months, 12k, MF .0005, and residual of 58% with end lease buy out price of $18,992. I only have 22,000 miles on my current 4runner and am considering purchasing at the end of the lease term. I currently pay $352 per month including tax, with zero down.   Because of my solid initial lease package and the significant decline in residual values over the last three years, I know my car is not worth the full buy out price of $18,992...based on new bank estimates, probably around $3,000 less.   With the current economic environment, just curious what you think is my best financial move in relation to bargaining power at the dealership. Should I attempt to renegotiate a buy out price at current 47% residual, or toss them the keys and sign a new lease package. Thanks in advance for your thoughts. Replies to this message: Car_man (Nov 19, 2008 5:57 pm)
#279 of 295 Re: Coming off lease in Ohio. [dakota9] by Car_man HOST Nov 19, 2008 (5:57 pm)
Replying to: dakota9 (Nov 17, 2008 3:38 pm) Hi dakota9. Ultimately it is Toyota Financial Services, or whichever bank you are leasing your truck through that determines its end-of-term purchase price. Your best bet would be to place a call directly to TFS to see if they are willing to work with you. Some banks will and some banks won't, but you don't have anything to lose by trying. If your initial contact there is unwilling to work with you, have have heard about lessees who have gotten better results by working their way up the ladder to a manager.   Again, there's no guarantee that they will be willing to lower your truck's price...more often than bot banks won't but it's worth a shot.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#280 of 295 Coming off a lease and have a large excess of mi not used. by galevin Nov 19, 2008 (7:43 pm)
I've got a 2006 4 Runner 4x4 with 16k mi and my lease expires in June 2009. At this rate my 4 Runner will only have +/- 20k mi at lease expiration. I'm allowed 36k mi. Just wondering if its worth the time and trouble to put this vehicle on one of those releasing websites in which someone will pay my monthly $335/mo plus pay me for the unused mi. Not sure which website to check out or how much to ask to pay me for the mi that they can use between now and June? Also not sure about responsibility in case something happens to the vehicle after I transferred this. Is it worth the hassle? If there is significant cash to be made I'm interested. If not then I guess I'll just hand this back over to the dealer. Not sure of my residual but not really interested in buying this as I'm probably going for something different. Any ideas or thoughts on this is greatly appreciated. Thanks, Gerald in Indy Replies to this message: Car_man (Nov 20, 2008 4:15 am)
#281 of 295 Re: Coming off a lease and have a large excess of mi not used. [galevin] by Car_man HOST Nov 20, 2008 (4:15 am)
Replying to: galevin (Nov 19, 2008 7:43 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 Host Prices Paid: Buying & Leasing Experiences Forum
#282 of 295 New to this forum by rocker77 Dec 29, 2008 (8:32 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 ! Replies to this message: Car_man (Dec 30, 2008 4:09 am)
#283 of 295 Re: New to this forum [rocker77] by Car_man HOST Dec 30, 2008 (4:09 am)
Replying to: rocker77 (Dec 29, 2008 8:32 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 Host Prices Paid: Buying & Leasing Experiences Forum

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