I did not buy mine, so it was not really a matter of getting a certain "price" for a sale. I leased it for 36 months/36,000 miles.
My primary focus was on the capitalized cost versus the residual value. I think the cap cost was in the high-28s and my residual value is 19k.....and I can buy it for that price at the end of the lease. Otherwise, I can simply walk away. The 4Runner is one of the best vehicles for leasing, as it holds its value well. Leasing a similarly-equipped Ford Explorer would have cost me another $120 to $130 a month because they depreciate much faster.
My payment is $265 a month, including gap insurance from Toyota. That is probably the only 'extra' item on which you should spend your hard-earned money. Paint protection, pinstriping and rust inhibitor are nothing more than the stealership padding its already high profit margins. Having a top-tier credit rating greatly enhances your opportunity for leasing a vehicle. If your credit is lousy, they'll up the "money factor" on you enough to make it a bad deal to lease at all.
I figure that it was better for me to lease it for that price every month, or fork out more than six hundred bucks a month in order to eventually own it. For me, I would rather lease it and save myself a few bucks. I don't like the idea of being "upside down" on a car for 40 percent of the loan's term! Also, I can treat myself to a brand-new vehicle in 2008 if I so choose. Meanwhile, I can put aside the other $300 or so that I 'save' and use it as an eventual downpayment if I decide to buy my next car instead of leasing it.
:awais:
Since I have another vehicle (my Sentra) which is paid off, I can keep the mileage lower on the 4Runner so I don't get hit with extra fees for exceeding the 36k limit. This is one part of leasing new cars where a lot of people get hosed. That quoted payment sounds nice enough, until you get hit with driving 15k miles a year on a 12k per year lease.
:bash: