New Truck/Suv

[Dom]

Looking to purchase/lease a new truck or suv.I am not sure if I want to buy or lease it any pro cons.Mileage is no issue and general wear and tear would be addressed.I have always purchased off the street/beaters but now would like to not have to replace as often.

[Buckmaster7600]

I refuse to lease, I feel it’s a terrible waste of money. Yes it’s cheaper payments but you don’t have anything at the end of the 3 years.


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[The_Real_TCIII]

I’ve leased for years, finally bought my latest truck at the end of it because I was WAY over the miles. If you want to drive a new vehicle every 3 years and can stay under the miles leasing is the way to go but I drive too many miles since my territory grew


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[Hock3y24]

2 hours ago, Buckmaster7600 said:

I refuse to lease, I feel it’s a terrible waste of money. Yes it’s cheaper payments but you don’t have anything at the end of the 3 years.


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Besides never paying for maintenance, I haven’t put a dime into my trucks I lease besides gas (oil changes are sometimes included). And I get a brand new truck every 3 years. Picked this up yesterday.

[Jeremy K]

9 minutes ago, Hock3y24 said:

Besides never paying for maintenance, I haven’t put a dime into my trucks I lease besides gas (oil changes are sometimes included). And I get a brand new truck every 3 years. Picked this up yesterday.

A wise choice .

[Nomad]

I’m 59 , owned two new cars ‘91 and 2018 . Never leased never made payments till the ‘18 and only because of zero percent financing , put the money in a fixed account at 3% best I could do short term .

Just bought a truck ‘17 3k miles .

i dont lease  , same as I don’t rent my TV or house .

Leases allow people to,drive a vehicle they can’t afford to buy ,which I guess works for some , especially the dealers .

[Buckmaster7600]

I’m 59 , owned two new cars ‘91 and 2018 . Never leased never made payments till the ‘18 and only because of zero percent financing , put the money in a fixed account at 3% best I could do short term .
Just bought a truck ‘17 3k miles .
i dont lease  , same as I don’t rent my TV or house .
Leases allow people to,drive a vehicle they can’t afford to buy ,which I guess works for some , especially the dealers .

You and me both! Couldn’t imagine life with a car payment.


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[Rattler]

Unless you are a business that can write the expenses off your taxes, a lease is not a good idea.

Leasing, which is really renting, always costs more.  You pay a higher interest rate on a lease, because it is still figured as a loan you are paying back.  That high interest rate isn't as easily seen by the buyer, because it's hidden in the contract.  Ask what it is and they must tell you.  Some leases require big up front payments also.  All leases have contingencies to add fees when the vehicle is returned.  Extra mileage is often .25 per mile.  Any little dings or scratches can be assessed at huge costs to repair.  If you choose to buy it at the end of the lease, it will cost more than what it would have cost if you had paid the lease payments towards purchasing it at the beginning.  Plus they can still require you to pay for all of the repairs before you can buy it out right.  The purchase price at the end of a lease will always be the top KBB price for that make and model.  Full coverage insurance is required on a leased vehicle, where it isn't required on one you own without a loan.  Maintenance is usually not required on a new vehicle during the first 36,000 miles or more, and is often covered by the warranty if it is not regular maintenance like oil changes, but those costs are figured into all leases.

Car dealers are not your friends.  They want as much of your money as you will give them.  The lure of paying less per month for a car is inguineuously blended in to the costs in a lease contract.  You are paying a price for any convenience you believe you are getting with a lease.  At the end of a lease, you have nothing to show for it and if you figure the total cost per mile paid for the lease at that time, you will not want to lease a vehicle again.

Buy a car you can afford, and save money.  Eventually you will have saved enough to buy a more expensive car.

[52 farmer]

I am 66,leased 1 car my whole life, spent more time watching the odometer than speedo.Owned pickups since i was 18,always bought the models i could afford,finally got the Lariet in 08.Always traded up ,got new bells and whistles with each new vehicle.Leasing works if you want more vehicle than you can afford, can stay under miles, and realize at the end of lease you have nothing and need to start over.

Plenty of late model used trucks out there if you can find the right one.Good luck with whatever you decide.

[greensider]

Just leased my first truck 125 less than i was paying and after 3 years i can purchase it for a decent price 

[rob-c]

If you are not mechanically inclined then lease, I have 2 guys I work with and they both hate working on vehicles.One has been leasing for himself and his wife for many years and he gets some pretty good deals for being a repeat customer. But as others have said you are restricted on your miles and if you happen to get a dent they take money off for that. I guess it depends on what you will be using it for. Daily driver ( if you don’t have a distance to drive to work ) or haul the kids and groceries then a lease. But if you going to use your truck as a truck and it’s possible it will get dented or scratched , I would buy... 

Edited September 30, 2018 by rob-c

[Moho81]

I tried leasing for the last 2 SUV’s for my wife. 1st deal was awesome because we had something to trade in. Second time we where stuck doing another lease because we where going to be over on the miles. Financially it made more sense to spend $2,000 on a down payment for a new lease vs. paying the penalties. After this lease is up we are going back to purchasing.

My wife and I are not big on all the crazy bells and whistles. Some are nice and some are just not necessary for us. We will purchase something used a few years old and hang onto it until it’s dead. Not having car payments at all is far more attractive to us than having a new vehicle every 3-3.5 years.



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[Hock3y24]

I get 15,000 miles per year, pay $450 a month with $0 down. Never paid for a scratch or dent and my wife beats the crap out of her cars and hits everything. I turned my truck in Friday with 3 decent size dents, 2-3 scratches approx 6-7 inches long, And 8 miles till out of gas. That comes out to just over $5000 a year, I guess it’s more expensive but worth it for me. Also I get to trade in at 33 months instead of 36 and they  wipe out payments.

[Buckmaster7600]

I get 15,000 miles per year, pay $450 a month with $0 down. Never paid for a scratch or dent and my wife beats the crap out of her cars and hits everything. I turned my truck in Friday with 3 decent size dents, 2-3 scratches approx 6-7 inches long, And 8 miles till out of gas. That comes out to just over $5000 a year, I guess it’s more expensive but worth it for me. Also I get to trade in at 33 months instead of 36 and they  wipe out payments.

My last truck I bought with 4K miles on it the same model year payed cash, kept if for 34 months and not counting taxes and dmv fees they gave me 4700$ less than I payed on trade with 37000 miles on it and more than it’s share of wear and tear! Never did any maintenance other than oil changes.

It worked out to like 125$ a month, i haven’t found a lease anywhere near that for a F250 but if I did I would probably lease.



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