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Trading in a vehicle every couple years vs leasing
Posted on 8/20/17 at 12:00 pm
Posted on 8/20/17 at 12:00 pm
Overhead a conversation where an older guy saying that he has always just traded in his trucks for newer ones over the years. He said the first one he paid down quickly and had equity. He was saying he doesn't trade too much up and he ends up financing the same amount and his note stays below $300.
This seems like an interesting strategy vs leasing.
This seems like an interesting strategy vs leasing.
4
Posted on 8/20/17 at 12:03 pm to LSU6262
How does having a note in perpetuity seem
interesting or desirable?
interesting or desirable?
Posted on 8/20/17 at 12:10 pm to LSU6262
I don't ever consider having "equity" in a vehicle
Just an expense.
I'm more of a get a vehicle and drive it until it blows up kind of guy
Just an expense.
I'm more of a get a vehicle and drive it until it blows up kind of guy
Posted on 8/20/17 at 12:11 pm to LSU6262
It's the primary reason to lease.
Leasing should reduce the cash flow required in this situation. Provided he meets the mileage and maintenance requirements (leasing a work truck that will incur jobsite damage is not a great idea).
If planning to keep a vehicle long term, or buying used, leasing is not financially competitive. But if you trade in often for a new vehicle, it can make a lot of sense.
Leasing should reduce the cash flow required in this situation. Provided he meets the mileage and maintenance requirements (leasing a work truck that will incur jobsite damage is not a great idea).
If planning to keep a vehicle long term, or buying used, leasing is not financially competitive. But if you trade in often for a new vehicle, it can make a lot of sense.
Posted on 8/20/17 at 1:26 pm to LSU6262
depends on the type of vehicle too, I don't know the leasing situation for trucks, other vehicles such as BMW's have great leasing program because its a core part of their business strategy to feed into their CPO program.
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