leaseing a car thoughts?

**Sfla80** · 07-25-2014, 03:30 PM

Ok just need opinions here, never thought about it before. But in my area, they are trying to get rid of all 2014 models. I have always wanted a full size truck. They are leasing chevy 4 door and dodge 4 door....just under fully loaded, at 225-240a month. My current note is 375. I have savings and could buy but want to lower my payments for a while to save more. I do not drive a lot sso I think 12k milage a year will be fine for me.

anyone lease here? Or anyone have leased before? have any thoughts on it?

Also blue book of my car is 12k, and I have 6k left on loan. So am I basically selling my car to them if I lease. Meaning ay off the 6k maybe put 1k into the lease and pocket the rest?

Thanks, im a little oblivious to all this....thanks for the help

**Dpyle** · 07-25-2014, 04:04 PM

Originally Posted by Sfla80

Ok just need opinions here, never thought about it before. But in my area, they are trying to get rid of all 2014 models. I have always wanted a full size truck. They are leasing chevy 4 door and dodge 4 door....just under fully loaded, at 225-240a month. My current note is 375. I have savings and could buy but want to lower my payments for a while to save more. I do not drive a lot sso I think 12k milage a year will be fine for me.

anyone lease here? Or anyone have leased before? have any thoughts on it?

Also blue book of my car is 12k, and I have 6k left on loan. So am I basically selling my car to them if I lease. Meaning ay off the 6k maybe put 1k into the lease and pocket the rest?

Thanks, im a little oblivious to all this....thanks for the help

Never leased or purchased new, but I had a boss at an old job that would lease his vehicles and then make the purchase at the end of the lease. He said it worked out better in the end because of the devaluation over the course of the lease.

**Times Roman** · 07-25-2014, 04:42 PM

I prefer to be an owner, not a renter.

as an owner, you can eventually escape the payments unless you pay in full with cash and no payments to begin with.

but with a lease, you can never out run the payments.

it all boils down to how much you like your cash

**Times Roman** · 07-25-2014, 04:45 PM

Originally Posted by Dpyle

Never leased or purchased new, but I had a boss at an old job that would lease his vehicles and then make the purchase at the end of the lease. He said it worked out better in the end because of the devaluation over the course of the lease.

your boss may have been good at his job, but his finance skills seem off. Leases typically benefit the lessor, not the lessee. Your boss had to come up with a smaller amount of cash at the end, but if he did a PV analysis (present value of a future stream of cash with a balloon) he would have discovered leasing is more expensive overall than purchasing.

**Dpyle** · 07-25-2014, 05:02 PM

Originally Posted by Times Roman

your boss may have been good at his job, but his finance skills seem off. Leases typically benefit the lessor, not the lessee. Your boss had to come up with a smaller amount of cash at the end, but if he did a PV analysis (present value of a future stream of cash with a balloon) he would have discovered leasing is more expensive overall than purchasing.

He owned the business, I was skeptical but he seemed to prefer the option. Like I said I've never owned anything I couldn't purchase out right, so I only have second hand experience with this type if thing.

**Sfla80** · 07-25-2014, 05:03 PM

Originally Posted by Times Roman

I prefer to be an owner, not a renter.

as an owner, you can eventually escape the payments unless you pay in full with cash and no payments to begin with.

but with a lease, you can never out run the payments.

it all boils down to how much you like your cash

See times....the lease would drop my payment by 150 about. I'm ready to trade in anyways. If I bought...my payments would be the same or even more at this point.

I get quaterly bounes. ..so I figure lease and save money for 2 years. And if then I want to purchase I would have savings and bounes for new down payment.

Or am I looking at this the wrong way?

**zempey** · 07-25-2014, 05:28 PM

I leased my first truck, glad I did. When the lease was up, I turned it in and bought my current truck with a bigger engine that I didn't know I needed at the time of the first purchase. The nice part is, when the lease is up you just move into a new vehicle without being upside if you owned it. It does cost more, but depending on how you do it, you are always in a newer vehicle under warranty. I like to mod my vehicles, so I need to buy my vehicles.

**Sfla80** · 07-25-2014, 05:53 PM

Originally Posted by zempey

I leased my first truck, glad I did. When the lease was up, I turned it in and bought my current truck with a bigger engine that I didn't know I needed at the time of the first purchase. The nice part is, when the lease is up you just move into a new vehicle without being upside if you owned it. It does cost more, but depending on how you do it, you are always in a newer vehicle under warranty. I like to mod my vehicles, so I need to buy my vehicles.

What kind of trucks do you like man?

I would love the Ford but I don't think they are giving the same deals that Chevy and dodge r doing.

Is Chevy in the situation that gmc is in?

BG · 07-25-2014, 06:40 PM

I lease my wife a car so she's in a new car every 3 years, works out well.

**MuscleInk** · 07-25-2014, 06:52 PM

I have leased and owned. Before leasing a vehicle, my opinion was much like TR's - I hated the thought of making payments on something I would never own. When I had my own corporation, leasing was pretty much a no brainer. I could lease the car through the corporation and right the expenses off for business. Every 3-5 years I could get a new car and not worry about paying out of my own pocket.

I have a vehicle now that I own and am paying monthly payments. The payments were originally more than $1000 per month but I've refinanced it and dropped it down to $400. My wife does't like leasing, but it does have some advantages. As long as you stay under the millage allowance, AND your lease payments aren't some unruly amount, a lease allows you to upgrade every 3-5 years and get a new car. For some people, that might be a very attractive option. Sure, you never own the vehicle, but if you lease one you fall in love with, most dealerships will sell the car at the end of the lease for a reduced price if you wanted to. When you purchase a vehicle, sure you own (eventually), most people still make monthly payments which may be the same or lower than a lease depending on the vehicle, but you're not likely to trade up the vehicle and if you did, the value of the trade in, especially with a dealer, is low.

I would consider leasing a car for myself in the future, but I would also look at a five year lease term versus a five year finance term and see what the side by side monthly costs to lease or own would be before making a commitment.

**Times Roman** · 07-25-2014, 07:10 PM

my first new vehicle I purchased was an 89 Toyota truck. I put 100k miles on it the first two years, and when I finally hauled it off, it had over 400k miles on it. I only paid $12k for it, and had many many years of no payments and low maintenance. now if I were to lease a little truck like that for the 15 some odd years that I had it, I would have paid 4x or 5x more than I actually did.

There is nothing wrong with owning a vehicle free and clear.

**Sfla80** · 07-25-2014, 07:10 PM

Originally Posted by MuscleInk

I have leased and owned. Before leasing a vehicle, my opinion was much like TR's - I hated the thought of making payments on something I would never own. When I had my own corporation, leasing was pretty much a no brainer. I could lease the car through the corporation and right the expenses off for business. Every 3-5 years I could get a new car and not worry about paying out of my own pocket.

I have a vehicle now that I own and am paying monthly payments. The payments were originally more than $1000 per month but I've refinanced it and dropped it down to $400. My wife does't like leasing, but it does have some advantages. As long as you stay under the millage allowance, AND your lease payments aren't some unruly amount, a lease allows you to upgrade every 3-5 years and get a new car. For some people, that might be a very attractive option. Sure, you never own the vehicle, but if you lease one you fall in love with, most dealerships will sell the car at the end of the lease for a reduced price if you wanted to. When you purchase a vehicle, sure you own (eventually), most people still make monthly payments which may be the same or lower than a lease depending on the vehicle, but you're not likely to trade up the vehicle and if you did, the value of the trade in, especially with a dealer, is low.

I would consider leasing a car for myself in the future, but I would also look at a five year lease term versus a five year finance term and see what the side by side monthly costs to lease or own would be before making a commitment.

Best response so far. I am leaning towards this lease as of right now. I drive 1.2 miles to work. Wife drives maybe 10. And we don't travel much else after that.

Taking a vaca to Tennessee soon. And not even driving my car which I "own" now...we are renting a car for that.

Anyone know about the Chevy and gmc mix?? Should I worry about Chevy with all the gmc recalls??

**MuscleInk** · 07-25-2014, 07:12 PM

Originally Posted by Times Roman

my first new vehicle I purchased was an 89 Toyota truck. I put 100k miles on it the first two years, and when I finally hauled it off, it had over 400k miles on it. I only paid $12k for it, and had many many years of no payments and low maintenance. now if I were to lease a little truck like that for the 15 some odd years that I had it, I would have paid 4x or 5x more than I actually did.

There is nothing wrong with owning a vehicle free and clear.

Yes, I bet you'd be hard pressed to find a truck for $12,000 today, right!?!

Auto payments definitely do suck.

**Times Roman** · 07-25-2014, 07:17 PM

Originally Posted by MuscleInk

Yes, I bet you'd be hard pressed to find a truck for $12,000 today, right!?!

Auto payments definitely do suck.

I could probably buy a similar little truck for $20k. In fact, I just landed a job, so now I think i'll go buy a little car. High mileage, low maintenance kind of thing. I'll just pay cash and see if I can squabble the price down a bit. but no idea what I should get.

**lovbyts** · 07-26-2014, 12:46 AM

Originally Posted by BG

I lease my wife a car so she's in a new car every 3 years, works out well.

That's the main thing right there ^^^^^ How long do you plan on keeping it? If you are someone who like to trade up every 3 years or so I think a lease makes sense due to depreciation and the PITA having to sell if you own.

If you plan on keeping it for over 5 years then buying is a better option IMO but also it's best to not buy new for several reasons such as depreciation again. It's best to buy 2yrs old or more.

Originally Posted by Times Roman

I could probably buy a similar little truck for $20k. In fact, I just landed a job, so now I think i'll go buy a little car. High mileage, low maintenance kind of thing. I'll just pay cash and see if I can squabble the price down a bit. but no idea what I should get.

Congratulations. I hear Pintos are good commuter cars.

**zempey** · 07-26-2014, 10:25 AM

It is Mopar or no car in my house, I drive a modded up RAM, lots of go fast parts. Not logical, but lots of fun.

**Sfla80** · 07-26-2014, 11:04 AM

Originally Posted by zempey

It is Mopar or no car in my house, I drive a modded up RAM, lots of go fast parts. Not logical, but lots of fun.

How's the ram??? Any issues??

**GirlyGymRat** · 07-26-2014, 11:22 AM

Lease arrangements r great if u can avoid the excess mile surcharges. The average lease equates to avg 15 miles daily. The surplus mileage charge can be significant at the end of the lease period, thousands of dollars.

**Times Roman** · 07-26-2014, 11:41 AM

Mates,

I keep looking at the answer sheet, and the answer is:

B) Car ownership

Really can't argue with the answer sheet, now can we?

**derekkpapa1** · 07-26-2014, 11:43 AM

Don't forget you pay taxes on lease as if you actually own it.
But like what was said above you are pretty much going to have a car payment anyway, it's the best way to avoid being upside down and you get new car every 3 years. Never have to pay for repairs tires brakes services ect...
Gas and go......

**Mp859** · 07-26-2014, 11:44 AM

Originally Posted by Sfla80

What kind of trucks do you like man? I would love the Ford but I don't think they are giving the same deals that Chevy and dodge r doing. Is Chevy in the situation that gmc is in?

The 6.7 ford diesel is the sh!t!!
They don't have the stuff that Chevy and dodge so though. I wouldn't get a car unless I could buy. I do t like the thought of having to worry about going over my mileage. The penalties of going over the mileage in your lease agreement are huge !!

**DrewZ** · 07-26-2014, 11:49 AM

I vote Owner.
Unless its for business and a write off like MuscleInk mentioned.
I would also never trade a vehicle in, you almost always get the short end of the stick on that deal.
If your vehicle blue books for 12k and you owe 6k, why not sell it and walk into a with some cash in hand, cash is King

**FRDave** · 07-26-2014, 11:56 AM

I have leased and owned several vehicles and prefer a lease. I never keep my vehicles longer than 3-4 years before wanting something new, so trying to sell and not being upside down or getting under blue book value sucks. With a lease, I just turn it in and get something new, always under warranty and don't have to worry about not selling or being upside down.

Plus, if you were to crash an owned vehicle it will be on the car fax, killing your resale value. With a lease, the dealer has to take it back no matter what.

Lastly, when leasing, the payment is way cheaper since you are financing the difference between the car cost and what the residual will be once the lease term is up, so in most cases, your financing 40-60% of the vehicle cost at most.

**GirlyGymRat** · 07-26-2014, 12:42 PM

Buying or leasing will cost u $ if you are in for 3 years. Value of new vehicle depreciates at significant rate as soon as u drive off the dealers lot.

leasing VS buying is a personal choice depends on disposable income and other non financial considerations as well.

**Hazard** · 07-26-2014, 01:11 PM

http://auto.howstuffworks.com/buying...y-or-lease.htm

**Sfla80** · 07-26-2014, 01:59 PM

Originally Posted by Hazard

http://auto.howstuffworks.com/buying...y-or-lease.htm

Nice article haz. ...thanks.

**zempey** · 07-26-2014, 02:13 PM

Not sure what issues the newer RAM's have, mine is an 07, nothing besides tie rod's that I didn't break on my own.

**MuscleInk** · 07-26-2014, 04:32 PM

Originally Posted by Times Roman

I could probably buy a similar little truck for $20k. In fact, I just landed a job, so now I think i'll go buy a little car. High mileage, low maintenance kind of thing. I'll just pay cash and see if I can squabble the price down a bit. but no idea what I should get.

I rented a Kia optima hybrid for work a few weeks ago in San Francisco. I have heard a lot of nice things about the Kia models but never drove one. I was very surprised and pleased with it. I drove close to 225 miles before refiling the tank to return the car. It cost me $4.80 to top up the car. I almost pissed my pants. I don't think I've ever put less than $50 in a gas tank. My SUV sucks $90 out of my pocket each damn time I fill it.

Unfortunately the wife and I have expensive tastes with cars. She's already asking for an SL55 convertible. I'm looking at the Audi models and neither of those will be cheap to purchase or maintain. Who know's, maybe Kia will win me over.

I hate buying cars.

**Hazard** · 07-26-2014, 04:37 PM

Originally Posted by MuscleInk

I rented a Kia optima hybrid for work a few weeks ago in San Francisco. I have heard a lot of nice things about the Kia models but never drove one. I was very surprised and pleased with it. I drove close to 225 miles before refiling the tank to return the car. It cost me $4.80 to top up the car. I almost pissed my pants. I don't think I've ever put less than $50 in a gas tank. My SUV sucks $90 out of my pocket each damn time I fill it.

Unfortunately the wife and I have expensive tastes with cars. She's already asking for an SL55 convertible. I'm looking at the Audi models and neither of those will be cheap to purchase or maintain. Who know's, maybe Kia will win me over.

I hate buying cars.

The s8 is nice :-)

I actually LOVE the new bmw M5

**MuscleInk** · 07-26-2014, 04:47 PM

Yes, the S series are awesome and I've been a long time BMW enthusiast. I'd love to have an R8 for shits and giggles.

**Sfla80** · 07-26-2014, 04:50 PM

Originally Posted by MuscleInk

I rented a Kia optima hybrid for work a few weeks ago in San Francisco. I have heard a lot of nice things about the Kia models but never drove one. I was very surprised and pleased with it. I drove close to 225 miles before refiling the tank to return the car. It cost me $4.80 to top up the car. I almost pissed my pants. I don't think I've ever put less than $50 in a gas tank. My SUV sucks $90 out of my pocket each damn time I fill it.

Unfortunately the wife and I have expensive tastes with cars. She's already asking for an SL55 convertible. I'm looking at the Audi models and neither of those will be cheap to purchase or maintain. Who know's, maybe Kia will win me over.

I hate buying cars.

That's my car I'm driving now....expect not the hybrid. Fully loaded when first came out with this new style walk off the lot at 26k. 100k warranty free tires and batteries for life.

Great cars in my opinion. Its either lease the truck or buy 2014 optima again

**MuscleInk** · 07-26-2014, 04:56 PM

Originally Posted by Sfla80

That's my car I'm driving now....expect not the hybrid. Fully loaded when first came out with this new style walk off the lot at 26k. 100k warranty free tires and batteries for life.

Great cars in my opinion. Its either lease the truck or buy 2014 optima again

I enjoyed the ride and the hybrid was ridiculous on fuel economy.

**Sfla80** · 07-26-2014, 05:37 PM

Even the non hybrid is good. Getting 480 miles on full tank....that's about 45-50$. Gonna be a hard switch to a truck lol

**Hazard** · 07-26-2014, 06:49 PM

Originally Posted by MuscleInk

Yes, the S series are awesome and I've been a long time BMW enthusiast. I'd love to have an R8 for shits and giggles.

Well duh who wouldn't :-)

My last boss was thinking of picking one up before he crashed his business. Woulda been cool to ride around in it..... He ended up buying a Mercedes SUV which turned out to be a major pain in the ass. The blue-tec technology was garbage..... If the car doesn't get it's oil change on time it shuts down.

BMW is awesome IMO. I do like the benz E350 better than the 3 series beamers tho. The 550 Benz is outa control but my overall pick goes to the new M5....

If we start talkin more expensive then the amg series are awesome.

**Rwy** · 07-26-2014, 09:05 PM

I would never buy a new car or lease. 3 years off lot after major depreciation.....

**Sfla80** · 07-27-2014, 05:07 PM

So ended up leasing. Ended up being around same payments. But my loan paid off and pocketed some cash with trade in. Not a bad deal.

Tried to get wife a new car today too. Tried to buy and get her off her lease. But didn't happen. They wanted us to pay off the last 12 payments and put money down . She's upset but we will try again in 6 months.

leaseing a car thoughts?-forumrunner_20140727_190456.jpg

leaseing a car thoughts?-forumrunner_20140727_190513.jpg

**zempey** · 07-27-2014, 05:43 PM

Good choice, what engine/trans/gear ratio did you get? If I don't end up putting a stroker motor in my truck in the next couple years, I will end up getting a 14/15 RAM.

**Sfla80** · 07-27-2014, 05:55 PM

Originally Posted by zempey

Good choice, what engine/trans/gear ratio did you get? If I don't end up putting a stroker motor in my truck in the next couple years, I will end up getting a 14/15 RAM.

Lmao I can only answer 5.7 hemi. Its a big horn.

**MuscleInk** · 07-27-2014, 06:05 PM

Originally Posted by Hazard

Well duh who wouldn't :-)

My last boss was thinking of picking one up before he crashed his business. Woulda been cool to ride around in it..... He ended up buying a Mercedes SUV which turned out to be a major pain in the ass. The blue-tec technology was garbage..... If the car doesn't get it's oil change on time it shuts down.

BMW is awesome IMO. I do like the benz E350 better than the 3 series beamers tho. The 550 Benz is outa control but my overall pick goes to the new M5....

If we start talkin more expensive then the amg series are awesome.

Love the 550 and yes, AMG for sure!

**MuscleInk** · 07-27-2014, 06:06 PM

Originally Posted by Sfla80

So ended up leasing. Ended up being around same payments. But my loan paid off and pocketed some cash with trade in. Not a bad deal.

Tried to get wife a new car today too. Tried to buy and get her off her lease. But didn't happen. They wanted us to pay off the last 12 payments and put money down . She's upset but we will try again in 6 months.