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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 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.
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 on 4/9/12 at 7:36 pm to Golfer
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.
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 on 4/9/12 at 7:36 pm to Golfer
you can negotiate the extra miles into the lease on the front end.
Posted on 4/9/12 at 7:37 pm to Chris Farley
buying a 3-4 year old subcompact isnt an option?
Posted on 4/9/12 at 7:43 pm to TortiousTiger
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 on 4/9/12 at 7:54 pm to Golfer
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.
I'd get a used subcompact with 50k miles and ride it into the ground.
Posted on 4/9/12 at 8:38 pm to Golfer
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 on 4/9/12 at 8:42 pm to Golfer
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 on 4/9/12 at 9:06 pm to Chris Farley
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 on 4/9/12 at 9:32 pm to TheHiddenFlask
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 on 4/10/12 at 12:14 am to Golfer
Find a low mileage early 2000s Civic or equivalent.
Posted on 4/10/12 at 8:46 am to LNCHBOX
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 on 4/10/12 at 11:06 am to Golfer
@ 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.
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 on 4/10/12 at 3:00 pm to Chad504boy
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 on 4/10/12 at 3:06 pm to Golfer
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 on 4/10/12 at 3:53 pm to Golfer
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 on 4/10/12 at 4:22 pm to Golfer
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.
~ 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.
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 on 4/10/12 at 6:49 pm to tirebiter
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 on 4/10/12 at 7:04 pm to Golfer
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.
Although for the record, the guy driving it looked like a total clown.
Posted on 4/10/12 at 7:27 pm to kfizzle85
quote:Better than some, worse than others.
Saw one of these on the way to work today, bet it holds its value pretty well:
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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