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Old 10-28-2010, 09:14 AM   #41
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Quote:
Originally Posted by macgyver View Post
The issue with a lease is that you are perpetually making payments. When you finance a truck..you OWN IT once you are done with your payments With a lease when you are done with your payment period..YOU DONT OWN it...you still have to buy it or lease another vehicle.

If you are cool with making payments forever..then maybe you should lease. I would personally want a vehicle thats paid for..especially with a tacoma which holds its value well at the end of my financing period I will have a vehicle that is still worth some money. I refuse to purchase brand new vehicles..I like to buy 1-2 year old vehicles and let someone else take the initial depreciation hit and pay the sales taxes and fees. In GA if you buy a used vehicle private party you don't have to pay sales tax on it. If after my financing period, I want to purchase a new vehicle again I could keep my current vehicle and have two vehicles or I could sell it (I also refuse to trade vehicles in when I can sell it on my own for more money) Then take that money and put it down on the purchase of the new(er) vehicle...lets say the tacoma is worth $10k after I pay it off. If I want to buy a new tacoma, I can put that 10k down on it and I only have to finance $15-20k which could mean taking a shorter loan term or having lower payments than I had before.
typical lease is 36-40 months
typical loan 5 60 months you do the math
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Old 10-28-2010, 09:39 AM   #42
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=lease
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Old 10-28-2010, 09:45 AM   #43
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If you plan on buying it at the of the lease there is basically no difference in that and financing it. If you plan on turning it in then you are basically just renting.
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Old 10-28-2010, 01:33 PM   #44
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Quote:
Originally Posted by MAXTacoma View Post
I have the feeling that some people have had really bad experiences or have heard from people who have had bad experiences leasing. I'm the third one on my family to have leased. 2 From Toyota Motor Credit, the third for 5/3 leasing. The ones from Toyota Motor credit have been great with no problems at all. We nogotiated the price of the truck, then came up with a payment/buy-out/downpayment. They came back with about 6 different sets of down payments,monthly payments, and buy-outs. I was ready to leave when they came and got me with my current payments/down payment/buy-out. As many have said its like renting, but that is only if you dont plan on buying it at the end of the lease. I know 100% that I'm buying my truck after my lease is over. I plan on paying cash for it as I refuse to pay more that 60 months for a vehical. It really just depends on if you are going to buy it at the end of the lease as to if you can go over your miles/mods. Mods/miles/condition doesn't matter if you buy it at the end of the lease. I know some dealerships lover to screw people with leases, mine fortunatly was great, everything was upfront and easy to understand w/ no fine print. If you do lease make sure you go thru Toyota Motor Credit, they dont try to screw you w/ fine print or anything like that. Everything is very clear.
i see one problem with your plan. you know that old joke, "if you wanna see God laugh, tell him your plan"? i've only been alive 28 years but in that 28 years i've learned nothing ever works out like you originally planned. i think you mentioned you are in college correct? and when your lease is up you plan on buyin out, so you're not worried about mods or going over your mileage. ok, well lets say when you graduate, the economy still sucks and you cant find a job, and you cant afford to buy the truck. at that point, you have to turn it in, and pay whatever penalties you have to for going over the miles or modding it. then you've got no truck, your broker than before after all the fees, and you've wasted 3 years of payments on a truck you dont get to keep.

on the other hand, if you bought it and need money, as long as your not upside down you can sell hte truck, pay off the bank, and keep the rest for a cheap beater car until you get a job.

now obviously each situation is different. someone who has parents that are willing to help out after college, may not worry about such things, cause their parents may help them out. but if this guys parents wont do that, he could be screwed hardcore with a lease. i personally dont think they are good ideas, but each person and their situation is different. i'm just trying to look at it from every angle.
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Old 10-28-2010, 01:47 PM   #45
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Quote:
Originally Posted by nd View Post
i see one problem with your plan. you know that old joke, "if you wanna see God laugh, tell him your plan"? i've only been alive 28 years but in that 28 years i've learned nothing ever works out like you originally planned. i think you mentioned you are in college correct? and when your lease is up you plan on buyin out, so you're not worried about mods or going over your mileage. ok, well lets say when you graduate, the economy still sucks and you cant find a job, and you cant afford to buy the truck. at that point, you have to turn it in, and pay whatever penalties you have to for going over the miles or modding it. then you've got no truck, your broker than before after all the fees, and you've wasted 3 years of payments on a truck you dont get to keep.

on the other hand, if you bought it and need money, as long as your not upside down you can sell hte truck, pay off the bank, and keep the rest for a cheap beater car until you get a job.

now obviously each situation is different. someone who has parents that are willing to help out after college, may not worry about such things, cause their parents may help them out. but if this guys parents wont do that, he could be screwed hardcore with a lease. i personally dont think they are good ideas, but each person and their situation is different. i'm just trying to look at it from every angle.
I agree not everything works out the way they are planned. In my case I've already got a good job and currently have the cash to pay for my buyout. It worked for me and can work for others its just depends on your situation. It is no different that financing a car and not being able to afford your payments. You take a chance of not getting the money you invest by mods when you sell it anyways lease or finance. Shit happens!
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Old 10-28-2010, 01:59 PM   #46
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Quote:
Originally Posted by noneck180 View Post
I have leased before..and still would..no difference than financing in my mind...with less interest and payments are way less.
Specially if your like me and turn vehicles over before the warranty is up.
To all the finance guys..is your Tacoma worth more than the guy who leased in 3 or 4 years? Nope
Who paid more in payments? The financee not the lessee :-)
Why wouldn't you put mods on a lease?..they are worth just as much to sell as the guys who put them on a financed vehicle
Tacomas as far as I know..are one of the only vehicles that are worth more than what a guy owes in 3 or 4 years..so leasing is not the Devil.
but at the end, who owns and expensive asset, and who is renting someone elses expensive asset? Once again, to each his own, and if leasing works for you then more power to you. most people's two biggest assets are their home and their vehicles. its a good idea to own both in case you needed to sell for whatever reason (death of a spouse, lost job etc...). you do have a good point about lower payments and lower interest, but its a trade off.

Quote:
Originally Posted by David K View Post
1) I am on my THIRD new Tacoma, all three LEASED... NO PROBLEMS at all (Toyota Financial). There is also NO DIFFERENCE in what you can do with the truck as far as basic mods or changes... it is the same as if you owned it. Just remember, at the end of the lease (mine is a 5 year lease) that you turn in or trade in your truck and you want the value to be high to go to your next truck... so don't do something stupid that would lower the value.

Also, there is NO mileage penalty IF you trade it for another Toyota. My first leased truck had 136,000 miles on it at the end of the 5 years... Traded it for my '05 with $1,000 down (to have a monthly payment I could handle)... had it for 4.5 years and 102,000 miles... Traded it for my '10 with NOTHING DOWN and the lease payments went up only $20! A new truck, only $20 more a month than the truck I was driving... I don't think you can beat that.

At the end of the lease, if you want to keep your truck, then you would need to buy it... so the past 5 years of lease payments don't count, but you will be buying a used truck that is cheaper then new.

Leasing is a great tool if you want a nice vehicle but don't have the down payment to give you lower monthly payments you can afford... also if you use the truck for your business (as I do), then the lease payment is deductable.
for a business leases make sense. you mentioned something about lower payments and lower interest rates making it easier to afford. if you can afford it either way but its just easier to lease, thats cool. but if you cant afford to buy it, but you can afford to lease it, chances are you're maxed out financially and should be looking at something cheaper. that kind of mentality ("well i cant afford to buy it, so i'll lease it or buy it on credit") is exactly why so many people were hit so hard by the recession. never live above your means. if you're choosing a lease solely on your inability to afford to finance, you need to be looking at cheaper cars in general.
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Old 10-28-2010, 02:05 PM   #47
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Quote:
Originally Posted by MAXTacoma View Post
I agree not everything works out the way they are planned. In my case I've already got a good job and currently have the cash to pay for my buyout. It worked for me and can work for others its just depends on your situation. It is no different that financing a car and not being able to afford your payments. You take a chance of not getting the money you invest by mods when you sell it anyways lease or finance. Shit happens!
haha! yes sir, shit does indeed happen. i know all too well. as i said, if it works for you and your situation, then its no skin off my nose. i have no idea what the OP's situation is, but like i said, i just like to see all the angles. i lost my job and my apt burned to the ground (i didn't have insurance) right after i graduated college. by the time i got back on my feet and got my current job i had $4 to my name. going through that forever changed my financial outlook. i now make sure to keep a good sized cushion in my bank account. i try to view $5,000 as the "zero" mark in my bank account and never let my account get below that. that way i always have reserves. i also try to make sure when i spend money, its on something that i can turn around and sell for money if i needed to. liquid assets give you a huge amount of peace of mind. which is hard to come by in todays economy
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Old 10-28-2010, 03:45 PM   #48
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Quote:
Originally Posted by noneck180 View Post
If it wasn't for leasing..I would have been stuck with 2 P.O.S vehicles I didn't like..and would have lost my shirt..in the end I turned them in and said Thank-you.
While not wearing a shirt. Anyone that understands a lease runs like hell from it. It's like buying your tv at Rent-a-center.
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Old 10-28-2010, 03:47 PM   #49
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[quote=noneck180;2328705]
Quote:
Originally Posted by macgyver View Post
The issue with a lease is that you are perpetually making payments. When you finance a truck..you OWN IT once you are done with your payments With a lease when you are done with your payment period..YOU DONT OWN it...you still have to buy it or lease another vehicle.


and I quote "when you finance you OWN IT"..you don't own FUCK ALL till the loan is paid..THE BANK does.
This is true but todays word is: EQUITY. Look that up.
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Old 10-28-2010, 03:55 PM   #50
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Quote:
Originally Posted by noneck180 View Post
If your depending on your vehicle to give you equity..you had better get a better job.
I'm not but you never have it in a fleece. Leaseing is for those who don't understand the real numbers game. Congratulations you win!
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Old 10-28-2010, 03:56 PM   #51
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This thread shows why you can't argue with dummies.
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Old 10-28-2010, 04:18 PM   #52
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Old 10-28-2010, 04:36 PM   #53
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Cool

[QUOTE=noneck180;2328811]Ding DONG..what the fuck did you just type?? are you calling me dumb.

I think your post speak for themselves
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Old 10-28-2010, 05:06 PM   #54
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You guys better not get my thread locked! Lol

Lots of mixed opinions. I appreciate it. I am in college. Have a year and a half left. I'm pretty much guaranteed a job after I graduate in the engineering field. Right now I work part time as much as I want. I can work 10 hours a week or 40. However I like to keep my payment low. I'm only paying 296 right now. My loan was for 17000 I believe. I now understand that negotiating the buyout is important. Pretty much depends on that. I am leaning towards purchase but we will see. I would like a used certified 2009-2010 but they are so hard to find. 31k for a new one is more than I want to pay.
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Old 10-28-2010, 05:51 PM   #57
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Quote:
Originally Posted by jdkeller View Post
What are the pros and cons of doing this?

A dealer I was at the other night said:
  • There is no interest while leasing.
  • All money goes straight toward the price of the vehicle.
  • If after the miles/years are up I can decide to buy for the leftover amount.
  • If I decide to buy there continues to be no interest.
What is true?

There has to be a catch since this is way better than just buying it from the start. I have never leased before. Set me straight. Thanks
.
The person that told you a lot of this stuff is lying to you.

Just tell them to put all of that info. in a letter to you (on signed dealership letterhead) and you will lease the truck ...

IMO ... only lease if you can write it off for business.

.
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Old 10-28-2010, 06:01 PM   #59
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youre getting a 4x4 this time right, bro
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