Leasing a Tacoma?

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!

 

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.

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.

 

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

 

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.

 

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!

 

This thread shows why you can't argue with dummies.

 

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.

 

Big difference?

 

Payment options? I was leaning towards an 09-10 because it's the same truck, less money, less payment. I was thinking I could get one for around 26-27k in a few months.

 

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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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I figured they were lying.

 

youre getting a 4x4 this time right, bro

 

Yes sir. Trd offroad. In white. Bro.

 

Sweet, cant go wrong with a 4x4 with rear locker

 

I know. That's why I want that. I'm going to put it to use!

 

Not true, the vehicle is half in your name and half in toyotas. Your payments are much lower, for me this was exactly what I needed as at the start of my electrical apprentice I make less than half of what I make after the 4 years. I will have a 16,000 buyout which i will gladly pay.

If I can save up all of the buyout amount and pay it off after the lease without taking out a loan to do so the lease in all will have cost me an extra 100$. Which in my opinion was worth the convenience of low payments. If I have to take out a loan for the buyout price then the lease cost me 100$ plus the interest on the loan.

Im pro lease if it suits your needs, although I personally never would lease without the intent to purchase in the long run, nor would I ever lease again now that I am in the better financial situation than I was.