I went in with my wife today to look at buying a used 4Runner. The salesman started talking leasing early (for a 2017) and I hadn’t yet done my research on leasing a new car because we just wanted to see the used car they had on the lot. I used this site to get a $330 p/mo 0 down lease on a top of the line i3 REX last year, so that is the extent of my leasing knowledge at this point. Anyway, he sat us down and provided me the following numbers:
Selling Price: $39069
Doc: $80
License/ Title: $461
Acq Fee: $650
Tax on collected items: $190.44
Total Cap: $40,488.19
Cap Reduction: $2,457.32
Net Cap: $38,030.87
Down Payment: 2457.32
Rate: .00225 (seems high, we have 800-ish credit scores)
12k/36mo
64% Residual
Residual amount: $25,004.16
Tax: 7.75%
Total Payment per Month: $542.68
Keep in mind, I didn’t negotiate at all as we needed to leave for a BBQ and I thought this seemed like a bad deal. I know 4Runners hold their value super well, so I’d love to know what any of you think about this deal. (I assumed somewhere in the high $3xx or low $4xx range w/ zero down was about right, but I’m happy to be corrected. Thanks in advance for all your help!
My lease on a 2015 SR5 4Runner just ended and it was the most difficult car to lease. You’re honestly better off buying. I ended up with a payment of $385 with 2k out of pocket and 10k miles a year. The catch is that it was financed through fusion auto leasing in order to get a decent rate. I loved the car but ended up getting rid of it last month (6 months early) because I was over miles and after reading about fusion auto finance it is said that they charge you for every single imperfection. I bought the car out of the leases and traded it in for a grand Cherokee. I wanted another 4Runner but for $500+ for a basic 4Runner without auto lights and a power passenger seat it just didn’t make sense. They’re amazing cars but there’s no incentives on them and the dealer always ends up selling everyone on their lot, granted they only get a few. Highlander’s and Ravs lease much better since they are incentivized by Toyota. Best of luck trying to get a decent lease on one. I searched for over a month and couldn’t justify $500ish for a 39k car. I’m leasing a 49k Grand Cherokee for $417 a month and it has a V8 and a lot more features than the 4Runner but it’s a very different car.
I didn’t return with them because I knew there were going to be a ridiculous number of charges for insignificant things. The car was meticulously cared for but for for small things, over mileage, and fees it would be close to 2k or more. I would never recommend them. The Jeep was with 2k out of pocket.
just think of myself highly always and as that i believe its important for everyone to hear.