SHANGHAI, China, Oct 1 (Reuters) - Germany's Ralf Schumacher announced on Monday that he will leave the Toyota Formula One team at the end of the season, saying it was time to move on but without revealing where.

"Having been a Toyota driver in the past three years, I opted for looking for a new challenge," Schumacher's personal Web site quoted him as saying in Shanghai ahead of Sunday's Chinese Grand Prix.

The 32-year-old, younger brother of Ferrari's retired seven times world champion Michael, did not say whether he intended to stay in Formula One.

"I'm going to have several conversations in the coming weeks. I will announce my decision when the season is over," he said.

"For me, the financial aspect is far less important than the chance of being involved in the development of a car and being successful afterwards."

Schumacher is one of the highest paid drivers in Formula One but big-budget Toyota, without a win in six seasons in the sport, have been getting little for their money.

There was even some speculation when his form slumped earlier in the year that Toyota, who made clear they were in no hurry to renew their deal, would replace him before the season was out.

The German has scored just five points in 15 races and retired from Toyota's home race at Fuji on Sunday with a slow puncture 12 laps from the end.

"I joined Toyota with high expectations," Schumacher said.

"On the one hand, I regarded it as a major and exciting challenge to be involved in the development of a new racing car.

"On the other hand, I also learned to like the Japanese style of living, during my long stay in Japan before entering
Formula One and I still get on well with the Japanese mentality.

"But I am waiting for years for a competitive car."

Schumacher's chances of getting that in Formula One next season look to be slim, unless the new Prodrive team being set up by former Benetton and BAR team boss David Richards are interested in him.

Prodrive, who intend to use the same cars as Mercedes-powered McLaren, have yet to announce their lineup.
Schumacher has six wins, all with Williams, to his credit from 178 starts. He joined Toyota in 2005 and has had three third places in his time at the Cologne-based team.