Anyone purchase their 4 runners at lease end?

[JosephD05]

My lease is up in April of 09, I'll be at least 10k over my miles, thinnking of purchasing. Thoughts? I figure I can finance for 3 years, but probably sell a year in and get the new 4 runner depending on the redesign.

 

[toto]

There's no problem with keeping the 4Runner longer - it's a reliable vehicle.

You'll have to do the math and see where you're at. Under normal lease circumstances, the car is worth more at the end of the lease than the residual or "buyout" value. If you add a mileage penalty, I'm sure the penalty is bigger than the actual hit the car will take in resale value.

As long as the car is worth more than what it would cost you to buy it out, then it's a viable option.

 

[Falls]

I did a 3 yr. high milage lease. I will be 25k under miles . I plan at this point buying it out . I like it a lot and because of a few business situations I have not really paid much into the vehicle at all.

The other alternative is that today I got a letter from Toyota with options to , but out , trade in , or what ever at some "special deal" pricing. I will check that out for an 08 , but would rather keep my 06 . I will hopefully do that tomorrow just to see what it's about.

I've never leased a vehicle before this one and I usually buy a new one every 3 years , I will not lease again, for my uses I would just assume buy it. I would have already bought this one out , but my lease rated is at 1.3% so I'm riding it out until Feb.09 when its up , unless this super deal thing......lol . They have something awesome to offer.

I've never been and never will be a fan of leasing.

 

[banker1]

I'm currently 1 year into a 3 year lease and was considering buying out early to reduce the additional amount paid in refinancing the residual at the end of the lease term.

With the current state of the economy and oil & gas prices my wife and I decided to ride out our lease a bit more and see where we are in another few months to a year. At this point we put less than 1,000 miles on the car per month so I'm not getting killed on gas like some of you daily commuters (bless mass transit) however, we are moving in a year or so to Minnesota to an area where we will most likely have to start commuting. If that happens once the lease is up it's an AWD car for me assuming gas stays where it is or goes up.

 

[taeeno]

Purchased my 4runner at end of lease below market value. So far no problems.

 

[Falls]

I'm currently 1 year into a 3 year lease and was considering buying out early to reduce the additional amount paid in refinancing the residual at the end of the lease term.

With the current state of the economy and oil & gas prices my wife and I decided to ride out our lease a bit more and see where we are in another few months to a year. At this point we put less than 1,000 miles on the car per month so I'm not getting killed on gas like some of you daily commuters (bless mass transit) however, we are moving in a year or so to Minnesota to an area where we will most likely have to start commuting. If that happens once the lease is up it's an AWD car for me assuming gas stays where it is or goes up.

An AWD car will get you better milage for commuting .

 

[banker1]

An AWD car will get you better milage for commuting .

I realize an AWD isn't going to be a good as a FWD but at least it won't be as bad as our SUV. I don't think my motorcycle is built for MN winters either otherwise I'd drive that , although a snowmobile would probably work :bigok: