Question for all 4runner leasees

[JosephD05]

I have an 06 limited v8 loaded. Im in the middle of a 3 year lease which ends in april of 09. My buy out at the end is 22K. I am wondering if I should purchase at lease end or not. Their are two things I do not like about the truck, the cupholders and lack of thigh support. Mind you, I'm 6'4". Other than that, I LOVE this truck. Any thoughts from anyone in the same shoes as me?

 

[btaylorbarry]

Thats a personal financial question you need to ask yourself.

My wife leased her vehicle which was 35000 new and we are paying 22500 in lease payments over 39 months. The purchase option at the end is 18500. We put 6000 down. that comes to 47000 we would be paying for the car if we bought at the end, and thats not counting the interest to finance the purchase option. 47000 less 35000 price is 12000 we would be paying over original price of car. That means we would be paying 34% more than the original price of the car. We could purchase one for 35000 with a bad interest rate of 8% and only pay 37800 total in interest and principle.
To me its a bad choice. But like I said, its your personal finances and what you can live with. I couldnt live with 34% interest.

 

[lawwailok]

wow btaylorbarry, your case seems a lot more than what the vehicle cost originally.

on mine, our sticker was 43470 (07 limited v8 with navi option), talked down to 39300, and after 39 months we should be paying 24800 on the total lease but that's included a toyota platinum extended warranty and GAP insurance. residual is 22000. after that money factor, we decided that was a deal to buy off after the lease term.

 

[Jeff Kleb]

I turned in my 36-month 2005 4Runner SR5 4x4 this afternoon. It would have cost me much more to "buy it" -- and five more years of payments.....so I ended up leasing another vehicle.

I got a new 2008 Mustang GT for a two-year lease, and my payments are less than $100 a month more than the 4Runner, but it includes all scheduled maintenance and personal property taxes (over $1000 for two years here in VA).

I would say that the best thing to do is to lease another new vehicle or buy an old beater......but financing a 'used' lease vehicle can often mean that you will be making payments for eight years (and paying almost 130% of the car's value).

Do what you want, but I would consider trying to lease something else that is new - at least if you have good credit.
:biggrin2:

Peace and good night to all of you!!

2008 Mustang GT - brand new and driven home today; 1-2-08

 

[JosephD05]

My total price was 39,900 and the sticker was 44,700. I believe that came out to just a tad under invoice. In any case, I added my payments plus down payment and it totalled to 21,500. My buy out is 22K at the end of the term. not including interest on that second loan, thats 43k total. Also remember, thats including taxes on the first 21,500. I got a great money factor on my lease. This is why I am considering it. The way I look at it, at the end of my lease, will my truck be worth 22k? I think so. I expect to have 45-50K miles on it, but I still think it would be worth it. If I do keep it, I would try to extend the warranty on it though.

 

[btaylorbarry]

Heck, with your situation and the all powerful greatness of 4runners I would seriously consider buy out if I were you.

 

[POS Racing]

I have an 06 limited v8 loaded. Im in the middle of a 3 year lease which ends in april of 09. My buy out at the end is 22K. I am wondering if I should purchase at lease end or not.

Wow, April of 2009, why even worry about it at this point? :

 

[JosephD05]

My chiropractor wants to purchase me out of the lease. He loves my truck, and knows how meticulous I am with taking care of my cars. At this point, my buy out is 30,500. He said he's just waiting on me. The problem is, there is nothing out there I really like. I mean, the JGC look okay, and Im only leasing so I don't care too much about long term reliability. When I leased this truck, I though I may wind up keeping it. The only reason I'm not is because of the bad thigh support, also my right leg falls against the cupholder. When it's a VENTI, it's a problem. Starbucks drinkers know what I'm talking about. I'm 6"4' btw. SOunds like a silly issue, but it does make for a fatiguing driving experience. I was thinking if it's possible for one of these auto customizers to maybe create a pad and stick it on the left side of the center console so my leg rests on that. Not sure if that would even solve my problem, but oh well.