Leasing a Toyota 4Runner or Highlander, vs buying?

Ask the Hackrs
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1

Hi all, I have been looking for a vehicle for some time now. Settled on Mazda PHEV but they are all gone from my area (Texas, Oklahoma). So, any leads in this regard are appreciated.
Incidentally drove a 4Runner and a Highlander, and sort of like those. I however don’t see any discussion on leasing a Toyota here on the forum - any reason why? Are Toyotas not a good lease? My understanding, which is pretty limited, that because they maintain their value, they should have a pretty high residual and get a good lease deal. What do you say?

Thanks

2

In general, they don’t lease well.

They generally have high resale value. Resale value in the real world and residual value are not always correlated.

3

Highlanders don’t generally lease well. They do hold their value incredibly well. 4Runners it is usually certain trim levels (SR5) that lease ok.

4

Toyota is a great choice if you’re purchasing the car, but leasing can end up costing you more or the same as a luxury vehicle. Toyota & Lexus usually cost more to lease than luxury brands.

5

I was able to lease a Lexus primarily because it was a PHEV with incentive.

For ICE likely makes more sense to buy. For PHEV or EV at least for a few more weeks you may be able to lease decently.

6

Correct.

Why? A good lease needs a combination of 4 factors; RV is just one of them and not sufficient by itself.

Most gas vehicles are not hackable and haven’t been for years now.

Buy a Highlander, GH, Pilot or Telluride if you need a gas 3-row vehicle. The 4R’s third row is borderline useless.

7

I’ll add from personal experience that the standard Highlander’s 3rd row is cramped, especially if you have older/taller kids and need the 3rd row in more than a pinch.