I was looking at a 4Runner and saw the monthly payment would be around $950. That’s way too high considering other options in the market. That also means Sequoia would be $1200 I guess. I could never justify Toyota with such high payments because, yes, they’re reliable but that’s about it. Extremely old tech and design. Am I missing something? I honestly would love a Land Cruiser but know it’ll be above $1k.
Why are you comparing different loan terms? 60 month is standard. My rate for a used vehicle is 5.25%, I assume OP’s credit isn’t abominable so 11% isn’t real. Match the rates and terms, the payment is lower. Plus…. You can put the same money down on either purchase, lowering payments further. They are not the same monthly payments whatsoever.