Questions about Lifting/Moding and Leasing

[gundrted]

Hello all

I'm not new to the world of lifting/moding or the 4Runner (better half has a '15 Limited). I've have a Jeep Wrangler JK for almost 10 years. Its lifted and so forth and so on.

My JK is nearing its end I'm looking at going with a TRD Off-road or TRD Off-road Premium (either with KDSS). I've heard scuttlebutt about the 4Runner getting updated in 2018. I'm not sure timing will allow me to wait for 2018 or longer. I'm also uneasy buying a first run model year. I know the 4Runner is solid, its just my preference.

Enter the leasing option. I'm not new to leasing and fully understand all sides and the potential benefits a 4Runner's insanely high resale. In order to keep myself with the possibles options I'm thinking of the leasing and making a long term decision in 2 to 3 years. At that point it would be Gen-5 vs Gen-6 and are the updates worth the investment.

I'm not looking for a like for like replacement to my lifted JK. They are apples and oranges. In reality, I don't use the full capabilities of my JK any more. A well built 4Runner will meet 80% to 90% of my needs.

Have people built and un-built for a lease?

Any thoughts or experiences would be greatly appreciated.

Here are the changes I'm thinking of for a 4Runner to my needs/wants off-road.

4Runner Mod List

• Purchase matching alloy rim for spare and do 5 tire rotations.
• Possibly purchase of more aggressive and slightly larger AT tires (keeping stock tires).
• Installation of OME 2-3in lift with medium to heavy duty springs (retaining all parts for returning to stock).
• Factory rail mount roof rack similar to the Front Runner Grab-On or Strap-On with various attachments (no roof top tent).
• Possible LED light bar behind front grill or on roof rack. This would not be removed if the lease is sold.
• Possible Medium to Low profile drawer set for trunk area.

 

[Foques]

this was a lease.
it was fully reverted to stock when time came to have it returned.

 

[Northern 4Runner]

I'm leasing my 16 trail premium kdss, all we get in Canada is premium model. I did it to see if I like it, and would want to keep it long term. I'm leaning towards keeping it, but 2.5 years left on lease, so we'll see how I feel then. I plan on levelling it with bilstein 5100's and better a/t tires

Either keeping it or not I will be buying it out at end of lease as its only $24k buyout and sr5's are listed for 34-36k where I live. So my trail edition should fetch at least that $$$

Don't worry about mods as with 4runners and Tacoma's you almost always have positive equity at the end of your lease. Buy it out then either keep it or make a deal on a new one.

 

[bofa]

Do what you want. If you plan to eventually buy it out, it wont matter. However if you plan to turn it in, stick to mods that can be reverted back to stock and keep the original parts.

 

[gundrted]

I'm leasing my 16 trail premium kdss, all we get in Canada is premium model. I did it to see if I like it, and would want to keep it long term. I'm leaning towards keeping it, but 2.5 years left on lease, so we'll see how I feel then. I plan on levelling it with bilstein 5100's and better a/t tires

Either keeping it or not I will be buying it out at end of lease as its only $24k buyout and sr5's are listed for 34-36k where I live. So my trail edition should fetch at least that $$$

Don't worry about mods as with 4runners and Tacoma's you almost always have positive equity at the end of your lease. Buy it out then either keep it or make a deal on a new one.

Agreed that the buy/sell is the best option if I don't keep it.

Mods here in Colorado can be hit or miss. They don't always add value and sometimes they narrow the pool of buyers. There are lot of urban drivers that don't even know what a dirt road looks like.

I would look at my list of mods as low/moderate at best. I've never gone for the biggest or most jaw dropping. I'm more more of the old school 'sleeper' mentality. Everything blends in, but you know what it can really do when called upon.

Personally I think I'm ok with doing simple/reversible mods to a lease.

Really just hoping to find experience from others.

 

[gundrted]

Do what you want. If you plan to eventually buy it out, it wont matter. However if you plan to turn it in, stick to mods that can be reverted back to stock and keep the original parts.

This is where I'm leaning.

Thanks

 

[Northern 4Runner]

Agreed that the buy/sell is the best option if I don't keep it.

Mods here in Colorado can be hit or miss. They don't always add value and sometimes they narrow the pool of buyers. There are lot of urban drivers that don't even know what a dirt road looks like.

I would look at my list of mods as low/moderate at best. I've never gone for the biggest or most jaw dropping. I'm more more of the old school 'sleeper' mentality. Everything blends in, but you know what it can really do when called upon.

Personally I think I'm ok with doing simple/reversible mods to a lease.

Really just hoping to find experience from others.

The salesman I bought mine from I know a bit, and he said if you're returning a lease to make another deal at the dealership they'll basically accept anything when you turn it in. They want a sale. I would assume most dealers look at it the same way within reason.

 

[bofa]

The salesman I bought mine from I know a bit, and he said if you're returning a lease to make another deal at the dealership they'll basically accept anything when you turn it in. They want a sale. I would assume most dealers look at it the same way within reason.

That is true. You dont have to "turn in" a lease. You can always trade it as you would any other vehicle before the lease expires. They will give you a trade value regardless of how its financed. Your payoff (aka lease buyout) will be calculated differently. Thats exactly what Im doing with my Wrangler.

BTW - one nice thing about leasing in CO is that you don't pay sales tax up front. Its paid monthly through the lease company.

 

[Foques]

Agreed that the buy/sell is the best option if I don't keep it.

Mods here in Colorado can be hit or miss. They don't always add value and sometimes they narrow the pool of buyers. There are lot of urban drivers that don't even know what a dirt road looks like.

the ONLY time mods add value is if the vehicle is very well built, a LOT of $$ invested, it is known AND is sold to an enthusiast.
Otherwise, they always reduce the value.

Dealers I work with deal with people thinking that their modded vehicle is worth more due to mods daily.

 

[flyrv9]

I would be thinking about what the lease might have to say about modding a vehicle. Perhaps nothing, but I bet there is something in there about mods and how far one can go. If you do mods and then take it in for service or a problem they are sure to notice. What are the penalties, if any, for voiding said lease. Better to know going in - perhaps you can ask or get a copy.

 

[1engineer]

the ONLY time mods add value is if the vehicle is very well built, a LOT of $$ invested, it is known AND is sold to an enthusiast.
Otherwise, they always reduce the value.

Dealers I work with deal with people thinking that their modded vehicle is worth more due to mods daily.

You are so right.
Rule of thumb: Mods only add value to the person who wanted the mods. Mods reduce value to everyone else. The only exception is a dealer mod.

Sure, there's that one in a thousand who will pay top dollar for a modded 1976 Gremlin...

 

[bofa]

You are so right.
Rule of thumb: Mods only add value to the person who wanted the mods. Mods reduce value to everyone else. The only exception is a dealer mod.

Sure, there's that one in a thousand who will pay top dollar for a modded 1976 Gremlin...

True. If you are hoping to get some kind of return on your mods (you're lucky to recoup part of your cost, rarely labor) you are better off looking for a private buyer. Dealers go by auction prices and typically don't care about items that aren't factory or common dealer adds.

Even dealer mods can be dangerous because you usually overpay for them. I had a neighbor try to sell me his Wrangler Sport with a ton of dealer mods, which were basic garage-mechanic bolt ons and wheels/tires.. He showed me the paperwork... he paid 52,000. I got a good laugh out of that one and he lost his shirt.

 

[ToyoDriver]

People lease T4Rs?

What's the benefit when they retain their value so well?

 

[Northern 4Runner]

People lease T4Rs?

What's the benefit when they retain their value so well?

My lease buy out on a 3 year old 4Runner is roughly 10k less than what I can sell it for. So if I do a deal on another new vehicle I just made 10k in positive equity. Not many vehicles can do this. Tacoma is the only other I know of. So if I want I can have a new vehicle every 3 years for cheap payments because of the positive equity and not paying tax on the new one because of the trade in

 

[bofa]

BTW current lease support in our area is pretty weak. It works out to around 4.8%. You can probably do much better with traditional financing.

 

[SR5Bart]

this was a lease.
it was fully reverted to stock when time came to have it returned.

That wrap was pretty shitty :lol:

 

[SnowTrail]

Reap resale value on a lease.

Here's what people miss, you don't have to turn your lease to Toyota, infact that's about the stupidest thing you can do if you're leasing something that holds its value such as a 4Runner. At the end of your lease you can trade it in as if you've owned it. Most likely your residual is set at around 25-27k. And chances are even on a trade in value it'll be worth 30k mind you as long as suspension is back to stock. So you can mod away as long as you turn to stock at the end and trade it, you don't even have to revert to stock but it will fetch you most $$$.

I'm in the same boat and I sell em for a living, in fact I am about to trade my 16 TEP lease to a 17 TEP simply because I have equity and I can lower my payment. So go ahead man mod away.

 

[Northern 4Runner]

Here's what people miss, you don't have to turn your lease to Toyota, infact that's about the stupidest thing you can do if you're leasing something that holds its value such as a 4Runner. At the end of your lease you can trade it in as if you've owned it. Most likely your residual is set at around 25-27k. And chances are even on a trade in value it'll be worth 30k mind you as long as suspension is back to stock. So you can mod away as long as you turn to stock at the end and trade it, you don't even have to revert to stock but it will fetch you most $$$.

I'm in the same boat and I sell em for a living, in fact I am about to trade my 16 TEP lease to a 17 TEP simply because I have equity and I can lower my payment. So go ahead man mod away.

Exactly. My buyout is only $24K Even if it was only worth 24K on trade you'd at least save the taxes. Technically you have to buy it out, so it's in your name, pay tax and then trade it in on the next vehicle, or keep it and finance the balance.

My lease is at 0.9% over 39 months. I'm leaning towards keeping it though as I think it'll last a long time and I like it.

 

[bofa]

Exactly. My buyout is only $24K Even if it was only worth 24K on trade you'd at least save the taxes. Technically you have to buy it out, so it's in your name, pay tax and then trade it in on the next vehicle, or keep it and finance the balance.

My lease is at 0.9% over 39 months. I'm leaning towards keeping it though as I think it'll last a long time and I like it.

That may be a canadian thing. Here you can simply trade it in and the dealer does the buyout. Our rates seem crappier too, though they change monthly so a promo may come up periodically.

 

[Northern 4Runner]

That may be a canadian thing. Here you can simply trade it in and the dealer does the buyout. Our rates seem crappier too, though they change monthly so a promo may come up periodically.

The taxes should still be in there if the dealer does the buyout. The leased vehicle isn't owned by the lease holder so to get credit for it as a trade it would have to go into your name (pay tax) and then apply that towards the trade. The dealer of course does all the paperwork and you just sign it.
I don't see a way around this no matter if your in USA or Canada