Lease program

Has anyone done the lease program through Toyota?

I’ve been talking with a dealer and I was told if I put down $3000 and pay $370 for 36 months, that my I would owe $24,000. I really can’t afford a $600 a month payment, I want to know if anyone has had a good experience with this program and been able to purchase the vehicle at the end.

Thank you

 

In my opinion a lease is a bad decision unless you own a business, but it's your money. If you can't afford the payment then just keep saving....but let's talk real here for a second and this is just a fun fact and not towards you or anyone else....ready....if you have to make payments you can't afford it anyway.

 

That makes no financial sense to me.

 

Hey Wallyt4r. If that's the case you might be the only one on this site. Get real man!

 

Never leased with Toyota, but leased with other manufacturers.

A lease on a 4runner may be decent since they don’t depreciate much - if you plan on returning it at the end. If you buy it at lease end, you probably will end up paying more in the long run than outright purchase - hard to say without knowing all the details. But I understand short term cash flow can drive these decisions. I’m assuming the $600 per month is based on 36 months. Would you consider a 48 month just to take some pressure off an outright purchase?

For comparison sake, have you researched what 3 year old 36,000 mile 4runners in the trim you are looking at are selling for to compare to the 24k the dealer is quoting you.

Good luck with the purchase (or lease).

 

I am not taking sides here but both of you do have legitimate points. A.) If you are financing the vehicle, you essentially cannot afford it (Wallyt4r is spot on) B.) Most people cannot afford to pay a vehicle off in cash. Now back to the OP question...do not lease a 4Runner so you can buy it cheaper at the end of the lease. SAVE some money because in my opinion 600 bucks a month for a 4Runner is crazy. Especially if you live in a communist state like I do (New York) meaning to keep a truck on the road is much more expensive. When I purchased a vehicle I look at what its going to cost me a month to keep it on the road (Insurance, registration, inspection, gas, maintenance, and car payment). Minus the payment I am at about 400 to 500 a month (I average about 25k a year). So for me I will not spend a nickel over 350 for a car payment. OP do everything you can to save some money so you can use a large down payment. With a decent downpayment you will have options to get better models that originally you didn't think were possible. And when buying new too many people just "settle" instead of waiting and saving to get what they want.

 

WallyTR4,

I am not sure if you comprehend my post, in no way was I ask for your opinion. If being a smug asshole gets you through your day, then I’m sure you have a lot going on in your life to have to do that. Next time you decide to stand on your soap box and spew the bullshit that comes to mind, think!. Just because I can, doesn’t mean I should. Just like that girl that was passed out at in college.

 

He stated it was a fun fact...is true. Most people do not have $40,000 cash to drop on a Toyota. Lets all play nice.

 

What case are you referring to?

 

WOW!

 

I think they took it the wrong way....

 

Yeah!, , I would say that is the case. A very sensitive subject?

Doesn't want an opinion yet posts questions on a forum?

 

As someone who leased a 5th gen I'd say buy a used one. Not worth it.

 

Guess nobody should be owning a home if they can't pay cash.

 

if you plan on keeping it at the end of the lease don't lease it. youll end up paying way more in the end. I was originally going to lease my t4r then buy it out at the end but the salesman told me it would be better to just purchase it because I would be paying way more in the long run. you end up getting very low payments with little to 0 down on lease vehicles that will have a low residual value at their maturity date. which is why you see Toyota advertising corollas @ 200 a month for 0 down or base model vehicles with nothing really on them. 4runners on the other hand they don't have tax credits or lease deals on them because Toyota knows they can make money on them and people buy them. plus when you finance a 4runner a dealer is able to take alittle more off the msrp vs with a lease youd have tax credits or lease deals but which the 4runners don't have.