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Leasing a vehicle with a 150 miles per day commute...suggestions?

Posted on 4/9/12 at 7:28 pm
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 4/9/12 at 7:28 pm
I'm trying to prepare for a potential job opportunity that will require 150 miles per day driving for a 1-2 year period.

My truck is fine and I'll keep it until the wheels fall off, but at 15-17 mpg, it wouldn't be the best choice to drive that distance each day.

My wife's vehicle is on its last leg. We were hoping to keep it for another 1-2 years but if I do get this job, it complicates our current vehicle plan.

My initial thought was to sell my wife's suv ($2500 maybe) and let her drive the truck with the short commute. I'd then lease a car for the 2 year commute.

The issue now becomes will there be a lease available that will allow 3200 miles/mo over the 2 year period?

Thoughts? I'm up for any real suggestions. But basically I'd like something reliable and economical for the 2 years of long commuting.
Posted by Chris Farley
Regulating
Member since Sep 2009
4213 posts
Posted on 4/9/12 at 7:36 pm to
Would the company be paying you mileage?

I suggest that you just buy a few year old corolla/civic/jetta tdi. If anyone would lease you a car and put 40k miles a year on it, they will charge you a fortune.
Posted by TortiousTiger
Baton Rouge
Member since Jan 2007
12668 posts
Posted on 4/9/12 at 7:36 pm to
you can negotiate the extra miles into the lease on the front end.

Posted by TortiousTiger
Baton Rouge
Member since Jan 2007
12668 posts
Posted on 4/9/12 at 7:37 pm to
buying a 3-4 year old subcompact isnt an option?

Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 4/9/12 at 7:43 pm to
quote:

buying a 3-4 year old subcompact isnt an option?


It is...haven't really looked at prices in depth, though. From my initial scans, it seems like used car prices are still quite high.

I do want to sell this as soon as the long commute is over.
This post was edited on 4/9/12 at 7:46 pm
Posted by TortiousTiger
Baton Rouge
Member since Jan 2007
12668 posts
Posted on 4/9/12 at 7:54 pm to
for what you're going to pay for a lease with those miles, buying will likely be the better option.

I'd get a used subcompact with 50k miles and ride it into the ground.
Posted by HurricaneDunc
Houston
Member since Nov 2008
10472 posts
Posted on 4/9/12 at 8:38 pm to
A lease and high miles does not compute. I drive a 100 miles round trip for work every day. Put 30k on my car in 13 months.
Posted by TheIndulger
Member since Sep 2011
19406 posts
Posted on 4/9/12 at 8:42 pm to
shoot, most leases only let you drive like 15k miles a year. At your rate you're looking at well over double that. Doesn't sound like it'll fly to me.
Posted by TheHiddenFlask
The Welsh red light district
Member since Jul 2008
18384 posts
Posted on 4/9/12 at 9:06 pm to
quote:

Would the company be paying you mileage?

I suggest that you just buy a few year old corolla/civic/jetta tdi. If anyone would lease you a car and put 40k miles a year on it, they will charge you a fortune.


This. Why are you stuck on leasing?
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 4/9/12 at 9:32 pm to
quote:

This. Why are you stuck on leasing?


I'm not stuck on it...I'm going to drive my truck again when the commute is over and my wife will be getting a new(er) vehicle then.
This post was edited on 4/9/12 at 11:28 pm
Posted by LNCHBOX
70448
Member since Jun 2009
89104 posts
Posted on 4/10/12 at 12:14 am to
Find a low mileage early 2000s Civic or equivalent.
Posted by Chad504boy
4 posts
Member since Feb 2005
178840 posts
Posted on 4/10/12 at 8:46 am to
quote:

Find a low mileage early 2000s Civic or equivalent.


then trade it in when you and wife are ready to buy your wife's new vehicle.

Another option is just drive the truck. Money is to be lost in gas cost but money will be lost in buying a vehicle and selling it in 2 years after racking up a bunch more miles on it.
Posted by yellowfin
Coastal Bar
Member since May 2006
98935 posts
Posted on 4/10/12 at 11:06 am to
@ 3.50 per gallon you are looking at saving less than $3,500 per year(if you commute every M-F in the year) by going from 17 mpg to 30 mpg. Is it really worth it to buy or lease another car for that?


Plus do you really get 15-17 mpg on the hwy? I assume the new commute is going to be mostly hwy. Try driving 65 on interstate and see what you can do, I get 21 mpg with an F-250 by driving 65.
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 4/10/12 at 3:00 pm to
quote:

money will be lost in buying a vehicle and selling it in 2 years after racking up a bunch more miles on it.


That's my worry. Would I even get anything for it when I went to trade it in.

My truck at that point would also have 180k on it...it's all but paid off but at that point I'd be looking at another vehicle for me to use daily.
Posted by Chad504boy
4 posts
Member since Feb 2005
178840 posts
Posted on 4/10/12 at 3:06 pm to
quote:



That's my worry. Would I even get anything for it when I went to trade it in.

My truck at that point would also have 180k on it...it's all but paid off but at that point I'd be looking at another vehicle for me to use daily.


i think you just need to ask yourself... what the hell you want to spend 2.5-3 hours of your day driving in? Comfort is a big plus, plus the truck gives you good angles downward looking at other chicks during this time period as well. Can't see shite in a civic but the top of 18 wheel tires.
Posted by TheHiddenFlask
The Welsh red light district
Member since Jul 2008
18384 posts
Posted on 4/10/12 at 3:53 pm to
quote:

That's my worry. Would I even get anything for it when I went to trade it in.


What do you get on a lease when you go to trade it in?

You're paying for the use and depreciation on the car any way. Leases were invented for 2 reasons:

1) so broke people can overextend themselves. (Not you)

2) Because they are harder for the average consumer to figure out the real cost on. (you)

With all do respect, you seem to think a lease is going to save you money, but it's probably going to cost money.
Posted by tirebiter
7K R&G chile land aka SF
Member since Oct 2006
10959 posts
Posted on 4/10/12 at 4:22 pm to
Do you have any family or friends that have a fuel efficient vehicle they would like to sell? That would be the easiest route if you can confirm maintenance/reliability. Otherwise, I am with you, used car prices are still quite high as a percent of new car costs.

~ 35k+ miles/yr at 45 weeks of work, potentially 70k miles, that is going to wear out anything you buy with high mileage. For shits and giggles I see a 2010 Corolla LE with 9k miles for $16k. Maybe something with 70K miles?

Flask is right, you will pay out the behind for the form of lease you would need.

Is this a new job or with your existing employer? If with existing you should negotiate something for the high mileage, wear and tear. 55.5 cents a mile is the current IRS reimbursement rate is, that's over $19.5k cost to you directly on a vehicle of any value with gas/insurance/repairs/depreciation factors.
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 4/10/12 at 6:49 pm to
I'm going to create a big spreadsheet tonight with a bunch of scenarios. Aren't there a few sites out there that estimate the resale value of a vehicle?

Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 4/10/12 at 7:04 pm to
Saw one of these on the way to work today, bet it holds its value pretty well:



Although for the record, the guy driving it looked like a total clown.
Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
138723 posts
Posted on 4/10/12 at 7:27 pm to
quote:

Saw one of these on the way to work today, bet it holds its value pretty well:
Better than some, worse than others.
I'd guess German competitors would have it all over them.

Beautiful cars though.
Luxuriant interior. Supposedly at least as quick as my car, it didn't feel that way to me though. Very nice ride nonetheless. But the most unsatisfying thing IMO is the 3yr warranty. I just don't get that.
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