Lease or buy? need your opinions guys.

[MSA]

I have always bought 2-3 year old, or salvage vehicles and fixed them up. My main reason for thinking about leasing is I'm just sick of fixing the next thing that breaks. I just replaced my fuel pump because I thought it went out, turns out my fuel guage was just off and I ran outta gas. so now I'm trouble shooting electrical problems, sending units, etc. last winter it got so cold my LCD display on the dash quit working so I have no Idea what my mileage is now. Gotta tear the dash apart and send in the guage panel to get fixed. Cam phasers are starting to clack like an old diesel, so soon I'll be taking my engine apart to put in a lock out kit, and probably a busted chain guide or two. I'm thinking for the usual monthly payment I can drive brand spankin new, and then give it back long before crap starts breaking and I have to start spending weekends under a hood again.

And leasing is nothing like renting. property gains value, vehicles lose it at an astonishing rate. and this is more about piece of mind, less about money. I just want a few years of worry free driving.

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You don't ALWAYS lose money on vehicles.
Well if you buy brand new ones I guess you probably do..

Maybe if I buy a special edition Harley or a corvette and store it for 40 years, then I could sell it for as much or more than I paid

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I have made money on vehicles that I've had because I bought them wrecked and fixed them up, or I bought out someone elses loan etc, and ended up selling them for more than I paid. But my time is worth more nowadays and I want to spend more of it fishing and less of it turning wrenches.

 

[johnr]

The comparison to renting, you are right property gains value, however you renting that property still does nothing for you regardless of value of the property. You still walk away with nothing of value.

Leasing gives you a lower payment, and you can walk away from the vehicle if you decide. Nothing lost nothing gained, use of a car for the stated time and cost.

You purchase the car it is yours and yours to fix, and sell when its all said and done.

I like owning my stuff, but see a benefit in leasing, and am likely going to with mrs johnrs next ride.

 

[Brian Renville]

I hate my pickup, hate it. 2011 F-150 Plat, been nothing but a mess since I got it. That being said there is an upside, it is paid for and it is mine and when I get rid of it(possibly in the next couple hours) I will still get $20k out of it. As long as you are ahead of the payments of the vehicle you buy, even though the depreciation sucks, you are in good shape. Seems to me that leasing got so popular due to the fact that everyone says you lose you ass as soon as you drive it off the lot. In response they made up a good sounding deal and they get their vehicles back, make them look nice, wash, rinse, repeat while still keeping the product.

 

[Captain Ahab]

I have always bought 2-3 year old, or salvage vehicles and fixed them up. My main reason for thinking about leasing is I'm just sick of fixing the next thing that breaks. I just replaced my fuel pump because I thought it went out, turns out my fuel guage was just off and I ran outta gas. so now I'm trouble shooting electrical problems, sending units, etc. last winter it got so cold my LCD display on the dash quit working so I have no Idea what my mileage is now. Gotta tear the dash apart and send in the guage panel to get fixed. Cam phasers are starting to clack like an old diesel, so soon I'll be taking my engine apart to put in a lock out kit, and probably a busted chain guide or two. I'm thinking for the usual monthly payment I can drive brand spankin new, and then give it back long before crap starts breaking and I have to start spending weekends under a hood again.

And leasing is nothing like renting. property gains value, vehicles lose it at an astonishing rate. and this is more about piece of mind, less about money. I just want a few years of worry free driving.

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Maybe if I buy a special edition Harley or a corvette and store it for 40 years, then I could sell it for as much or more than I paid

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I have made money on vehicles that I've had because I bought them wrecked and fixed them up, or I bought out someone elses loan etc, and ended up selling them for more than I paid. But my time is worth more nowadays and I want to spend more of it fishing and less of it turning wrenches.

Has been my philosophy for about the last 7-8 years. I hate working on stuff when the weather is nice and the fish are biting.

 

[Norske]

Choose whichever one the salesman doesn't try to talk you into. He's not your checking account's friend.

 

[Allen]

I think Sweeney summed it up for me. The guys writing the lease terms have done the math. IF, and only if, you were to put on exactly the lease allowed number of miles do you get the full value for your lease based on the economics in play when the lease is offered to you.

What happens at the end of the lease is a different story, if the vehicle is well below the allotted miles, then it's a good idea to buy it at the already agreed upon price. If it's well over, probably not a good buy on your behalf.

Personally, I don't like leasing for private use. As someone else noted, if you have a means of writing off the lease for your taxes, that changes the math. Then again, you can also claim depreciation on a vehicle purchased for a business as well. I am picking up a new vehicle over the next week, or so. I will be buying, it's the only way to fly. If I can't afford the sticker price or monthly payment, then used is the way to roll. I looked recently at the 5-year total cost of ownership for mid-size SUV's recently, it was right around $50k for depreciation, interest, repairs, insurance, gas, etc, etc. Ouch!

 

[Up Y'oars]

Always buy if you're one to keep a vehicle for more than 70,000 miles. It's the only way you'll gain the return of investment in the funds you've spent.

If you can afford the lease, and you like a new car every 2-3yrs, then go for it. Like my dad used to say years ago; "Don't buy the Cadillac if you can't afford the insurance."

 

[Enslow]

That cost depends on what brand and class of suv's you are refererring to. If ur buying mexican made suv's then i can see that.

 

[snow]

Lots of ideas floatin around,shoot me a PM i'll give the skinny on both programs,folks that finance for 5 or 6 years never really own their vehicle if they trade in 4 or 5 years.I'm in the know as a dealer.

 

[shorthairsrus]

They run leasing specials and they run financing specials sometimes it can better to lease depending on the special they have running. Most of the time buying will be cheaper. The business write off can be fiction depending on your situation 3/4 truck and a big year of income lease may not be your huckleberry to lease. I see a million lease vs buy a year. That is my .02

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Ps to reaper. 52mph yup. 75mph nope. Try average 9mpg pulling boat to parshall and back this weekend. The eco bum will sit it out as the 5.3 backs up to boat for next trip out west

 

[701FishSlayer]

You'll never have negative equity with a lease. If you don't want it at the end you can walk away. There is usually some sort of lease trade in deal when the time comes. If you do trade it in, you're responsible for the condition of the vehicle. They will look at every little thing and try and deduct as much as possible for wear and tear. Tires, interior etc...exterior,is there paint chips, windshield cracked blah blah...they will try and bend you over anyway they can. Just buy a new one or slightly used with a solid warranty. slap a nice down payment on it so you're not upside down right off the bat.

 

[MSA]

You'll never have negative equity with a lease. If you don't want it at the end you can walk away. There is usually some sort of lease trade in deal when the time comes. If you do trade it in, you're responsible for the condition of the vehicle. They will look at every little thing and try and deduct as much as possible for wear and tear. Tires, interior etc...exterior,is there paint chips, windshield cracked blah blah...they will try and bend you over anyway they can. Just buy a new one or slightly used with a solid warranty. slap a nice down payment on it so you're not upside down right off the bat.

I've been in the autobody business for over 10 years so I know how to fix all the stuff they're going to look for. Not sure yet if I want to keep my current F-150 and lease a new one or sell/trade it. My main problem there is parking at home, the boat is in the garage, and the wife's and my pickup in the driveway, don't really want a vehicle parked on the street.

 

[FishReaper]

Ps to reaper. 52mph yup. 75mph nope. Try average 9mpg pulling boat to parshall and back this weekend. The eco bum will sit it out as the 5.3 backs up to boat for next trip out west[/QUOTE]

Cruise was set at 70 the whole way. Took pic as coming past Burlington. Bone stock 2012 F150 4x4. 5.0 with 3.73 gears. I'll be happy to talk you for a ride if you don't believe me. I get 14-15 mpg towning boat. 5.0 gets better milage than ecos. At least the ones I've been around

 

[MSA]

Ive also talked to alot of unhappy ecoboost drivers. It seems the 5.0 usually performs better than ford advertized.

 

[eyexer]

If you only put ten thousand miles a year on you shouldn't have to do anything to it aside from routine things like brakes and tires for fifteen years.

 

[Radar13]

Buy a Tundra. as for mileage I look at it this way, you can't have horsepower and mileage both. I bought my 2010 Tundra with 15,000 miles on it certified used for $34,000 I now have 54,000 miles on it and the book is $29,750 That works for me. years past my trucks were ford then chevy I alternated every truck I bought this Tundra because I never had one and always heard good things. My next ruck will be another Tundra.

	Rough Trade-In	Average Trade-In	Clean Trade-In	Clean Retail
Base Price	$20,850	$22,525	$23,900	$27,025
Mileage (54,000)	$1,450	$1,450	$1,450	$1,450
Total Base Price	$22,300	$23,975	$25,350	$28,475
Options: (change)
Aluminum/Alloy Wheels	Incl	Incl	Incl	Incl
Fixed Running Boards	$50	$50	$50	$75
Towing/Camper Pkg	$250	$250	$250	$300
TRD Rock Warrior Package	$800	$800	$800	$900
Price with Options	$23,400	$25,075	$26,450	$29,750

 

[Bed Wetter]

Buy a Tundra. as for mileage I look at it this way, you can't have horsepower and mileage both. I bought my 2010 Tundra with 15,000 miles on it certified used for $34,000 I now have 54,000 miles on it and the book is $29,750 That works for me. years past my trucks were ford then chevy I alternated every truck I bought this Tundra because I never had one and always heard good things. My next ruck will be another Tundra.

	Rough Trade-In	Average Trade-In	Clean Trade-In	Clean Retail
Base Price	$20,850	$22,525	$23,900	$27,025
Mileage (54,000)	$1,450	$1,450	$1,450	$1,450
Total Base Price	$22,300	$23,975	$25,350	$28,475
Options: (change)
Aluminum/Alloy Wheels	Incl	Incl	Incl	Incl
Fixed Running Boards	$50	$50	$50	$75
Towing/Camper Pkg	$250	$250	$250	$300
TRD Rock Warrior Package	$800	$800	$800	$900
Price with Options	$23,400	$25,075	$26,450	$29,750

bingo! The problem is you all keep talking Chevy and Ford. A family member has been dealing with Toyota and Honda for several years and the trade in is awesome. Very cheap to own when traded in every 3-6 years.

 

[svnmag]

Lease=Fleece

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[johnr]

I see what you are saying but,

You will likely never get retail for that Tundra, even if you sell it out right.
A bank wont lend that amount, and a dealer will sure not give their profit away.

I am an American (as we all are, even if we cant label ourselves that way, or course unless you are a minority), I prefer to drive (mostly made in our country) American vehicles.
We (our fathers) fought wars against some of these countries as they didn't like us (still don't), and I am sure not going to give profits to them if I can help it. I have owned both a Honda, and a Toyota in the past, as a traveling salesman it made sense to go economical, I also used to live in my parents house years ago.

 

[johnr]

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Mrs johnrs new rig, she purchased rather than leased. Zero apr and some other incentives made purchase a more appealing deal