Lease or Buy? Whats everyone doing

Used to work at Toyota of HB and everyone leased but I love owning and customizing my truck... but thinking of leasing a new TRD PRO tacoma..

 

Everyone’s leasing because financing on some of these trucks has ridiculously high payments.
For some, leasing is obviously preferred. But when you got a lease for 300-400, and a finance payment for 700-800, some people want the easier payment.

I know you know all of this, just ranting I guess.

For a Pro, I’d said buy, payment will be higher but for resale purposes down the road, it’ll hold a higher value

 

Yea

Yea I wasnt thinking about the re-sale. I like the idea of possibly upgrading to a new model and having the smaller payment... 7-8 is crazy every month

 

I leased a car once. A '93 Ford T-Bird. What sold me on not doing it again was the fact that after three years I had to do something, either buy it or sell it or trade it in. I traded it in.

I think if you own a business, you can write off a vehicle lease. Therefore good idea.

If you just lease it, to lease it, no way! Just buy it!

 

Got a lease myself for this reason. Got comfortable payments, and when the lease is up, I'm buying it for roughly the same payments. Sucks paying a truck off in 8 or less years. But I'm expecting to keep it anyway, and either way that money is still going towards it whether its financing or leasing.

 

Did you know you were going to buy it out from the beginning? thats a good option too to get those smaller payments

 

I did, I always wanted a Tacoma as a teenager. Made it happen as an adult, love every minute of it.

 

I almost did that with my 4runner, but doing the math, it woulda been almost 68,000 total for the truck in payments. I couldn’t live with that, so I just sucked it up and took the high finance payments over 5 years

 

If only torque news had an article on what to do in this situation.

 

you end up paying more for sure, if I leased I would trade it in

 

I financed, I plan to keep my taco til the wheels come off.

Once I’m paid off, no payments. Lease may be better for some, but I wanted to eventually own the vehicle and not worry about payments

 

I leased for a few reasons.

1: Needed a vehicle to get me in the backcountry as I was setting off to section hike the 800 mile AZ Trail. Many of the access points are places a sedan or awd vehicle can't get to without damage
2: Was not sure what my needs would be after number 1 was completed which should have been 12 months. Injury on trail postponed that by at least a year
3: The lease terms are really good meaning at the end of the term I would have options other than turn in the keys and walk away.
4: Payment was reasonable enough I could continue to put money away and when the lease term is up I'd have enough saved to either sell my current truck and use the savings to put around 60% down on a new ride and only finance for 36-48 months. Or if I want to keep my truck be able to buy out my lease mostly in cash and finance the rest for 36 months basically end up buying the truck over 72 months and paying a couple grand more in total but not be payment strapped like I would have if I had financed from the start.

Glad I did. I mean I love my truck, but the 2020 T4R with the tech upgrades is very intriguing as well as the new 2020 Taco's. Having a truck for the first time again in 20+ years reminded me how much I enjoy offroading and having access to remote trailheads to backpack, hike or camp. I have pretty much decided to stay in the 4wd world, just undecided if I am going to make the jump to the T4R or if the pickup is more my thing. Both have advantages and disadvantages for what I need them for.

 

I did, same price I negotiated the truck for.

 

I leased for many years, because my accountant told me it worked for me, but I own a business. I did eventually get sick of trading in cars every 3 years and have gone back to a buy. Talk to your accountant. I imagine these trucks have a high residual value, which yields a lower payment.

 

For me personally, I buy. After a short time it's paid off. That feeling of making a last payment on a vehicle is a pretty awesome feeling. Felt it three times so far not including a house I sold. Although this is my most expensive vehicle, I'm in the home stretch with 20 months left.

 

Sorry you don't like my take on your article. It wasn't very deep or insightful. If that is mean. So be it.

 

I've had 4 other vehicles before this one too that were financed. I could never buy them out because someone would total it for me before I could get close. Literally never fully owned a vehicle because of other drivers.

 

FUUCCKK. That's rough man.

 

Literally my 17' Taco was totaled while on the freeway. So now I have an 18' Figured lower payments are good anyway since Ill never get to the point where I could actually finance and pay more.

 

Plain and simple...Leasing is a great way to get into a vehicle you can’t afford to own.