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re: Trading in a vehicle every couple years vs leasing
Posted on 8/20/17 at 10:20 pm to barry
Posted on 8/20/17 at 10:20 pm to barry
quote:
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.
This. Some cars lease great, and some horribly.
Also, there's nothing wrong with wanting a new car every few years. With as much time as some people spend in their cars, it makes sense to want all the latest n greatest bells & whistles.
This post was edited on 8/20/17 at 11:09 pm
Posted on 8/21/17 at 10:30 am to 632627
The main issue not mentioned, is sales tax. In most states you only pay sales tax on a lease on your payments. So on say a $50k car that really adds up! 10% sales tax would be $5,000. If you are paying that every 2 years as opposed to say $1,000-1500 on a $10,000-15,000 lease cost?
If all else is the same as in your mileage and usage would work with a lease, you would be better off leasing due to no sales tax upon purchase many times not to mention the huge hit in depreciation.
Now, if you want a "newish" car regularly and drive higher miles then you can do very well by getting 2-3 old vehicles with $20-40k miles and trading them back in when they hit 75-80kish miles.
If all else is the same as in your mileage and usage would work with a lease, you would be better off leasing due to no sales tax upon purchase many times not to mention the huge hit in depreciation.
Now, if you want a "newish" car regularly and drive higher miles then you can do very well by getting 2-3 old vehicles with $20-40k miles and trading them back in when they hit 75-80kish miles.
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