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Started By
Message
Lease vs buying vehicle advice
Posted on 7/29/15 at 12:30 pm
Posted on 7/29/15 at 12:30 pm
Yukon or Tahoe
Drive 20-25k miles year.
15-16 model.
What says the ot pros?
Drive 20-25k miles year.
15-16 model.
What says the ot pros?
19
Posted on 7/29/15 at 12:31 pm to Makinbacon
quote:
Drive 20-25k miles year.
Too much for a lease
Posted on 7/29/15 at 12:31 pm to Makinbacon
quote:
20-25k
too many miles for a lease...
Leasing is, 99% of the time, a bad idea anyway.
Posted on 7/29/15 at 12:32 pm to Makinbacon
quote:I'd lease if this was the case. Most leases cap out well before that
Drive 20-25k miles year.
ETA: I'm not suggesting that the OP lease. I'm saying that I'd be open to leasing if there weren't annual mileage limitations
This post was edited on 7/29/15 at 12:45 pm
Posted on 7/29/15 at 12:33 pm to Makinbacon
Why do you want to rent a car?
Posted on 7/29/15 at 12:34 pm to Makinbacon
Downpayments are a ripoff.
Always get the longest payment plan, this lowers your monthly payment.
Shopping around is a waste of time, all car stores sell at the same price, and it's pretty insulting to your salesman. (He's a professional let him do his job)
Always get the longest payment plan, this lowers your monthly payment.
Shopping around is a waste of time, all car stores sell at the same price, and it's pretty insulting to your salesman. (He's a professional let him do his job)
Posted on 7/29/15 at 12:34 pm to ForeverLSU02
Since I don't have "Known crazy poster" checkmark by your name, explain your response please? 
Posted on 7/29/15 at 12:35 pm to LucasP
That sounds like some terrible advice
I will probably lease my next vehicle. I ride my motorcycle 90% of the time and only need a vehicle for bad weather days.
I will probably lease my next vehicle. I ride my motorcycle 90% of the time and only need a vehicle for bad weather days.
This post was edited on 7/29/15 at 12:37 pm
Posted on 7/29/15 at 12:36 pm to VetteGuy
quote:I would really consider leasing if they had higher mileage limitations. I'm driving around 25,000 miles per year
Since I don't have "Known crazy poster" checkmark by your name, explain your response please?
ETA: Am I doing it wrong or something?
This post was edited on 7/29/15 at 12:37 pm
Posted on 7/29/15 at 12:37 pm to Makinbacon
I work for a bank and finance cars for a living we go out to 7 years because the cost of vehicles is so high now. Lease is only good if you can stay within the mileage. You can get up to 18k miles/year on a lease but the pmt is higher because of a lower residual. As low as rates are you will be better off buying not leasing. The money factor on leases can get up to 9%. I am also basing this on the fact that you have good credit.
Posted on 7/29/15 at 12:40 pm to Makinbacon
quote:
Drive 20-25k miles year.
Plan on about $2-2.5K per year in mileage fees when you return it.
Posted on 7/29/15 at 12:44 pm to ForeverLSU02
I read your response like you would recommend OP do a lease.
You are saying that you would consider a lease if they let you drive more miles. They do, but it is at a huge penalty.
You are saying that you would consider a lease if they let you drive more miles. They do, but it is at a huge penalty.
Posted on 7/29/15 at 12:45 pm to VetteGuy
Yeah, I reread it and I can see how that can be confusing
Posted on 7/29/15 at 12:47 pm to Makinbacon
I drive about the same mileage, sometimes as much as 30k a year. I use to buy new cars and replace them every three years. The last 9 years I've bought used SUV's varying from 50k miles to 80k miles and sold them after 3 years or 200k miles. Whichever came first. Saved myself a ton a cash and I've never had a single mechanical failure.
Best one I've had so far has been a Volvo xc90 3.2 that I bought for $11k with 75k miles and drove it for 3 years until it had 180k miles and sold for $7500. Insurance was $72/month and it go 25 mpg on the hwy.
Best one I've had so far has been a Volvo xc90 3.2 that I bought for $11k with 75k miles and drove it for 3 years until it had 180k miles and sold for $7500. Insurance was $72/month and it go 25 mpg on the hwy.
Posted on 7/29/15 at 12:48 pm to ForeverLSU02
The way I look at it is, the residual value after 3 years that the dealership is claiming is probably a good bit less than they are gonna resell it for
That difference could be money in your pocket if you just paid 3 years of notes and then sold it private party, or possibly even traded it in
That difference could be money in your pocket if you just paid 3 years of notes and then sold it private party, or possibly even traded it in
Posted on 7/29/15 at 12:51 pm to Makinbacon
I lease all my vehicles, claim 90% as business miles and write that shite off.
Friends usually make me feel good when I pull up and they say "wow" the first time the see my current rides.
Friends usually make me feel good when I pull up and they say "wow" the first time the see my current rides.
Posted on 7/29/15 at 12:51 pm to Makinbacon
Lease - you don't own shite
Buy - you own shite
Buy - you own shite
Posted on 7/29/15 at 12:52 pm to Barf
Why would someone buy a Volvo with 180k miles and pay $7500? Geez.
Posted on 7/29/15 at 12:53 pm to Bullfrog
quote:
I lease all my vehicles, claim 90% as business miles and write that shite off.
Well, most people can't do that.
Are you saying you work for a company that doesn't reimburse for mileage? Or do you own your own business?
Posted on 7/29/15 at 12:54 pm to Makinbacon
They uses to have a loophole with a lot of Toyotas like the Tacoma and Four runner. You could lease, and then after three years sell it for a a good bit over what the balloon payment was to get the car. It was actually a good deal. The only time to consider a lease IMO is to get bought out of an upside down car note. That way you can start over fresh after three years of renting, rather than putting money into the rapidly depreciating asset.
Figure you will pay between $11-18k on average to rent a car for three years.
It does sound crazy when you look at it like that.
Figure you will pay between $11-18k on average to rent a car for three years.
It does sound crazy when you look at it like that.
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