Did you buy or lease, and why?

so, I do agree with you for the most part, so this is not to start an argument, but more a conversation.

artificial or not, most people would not be able to afford a house in their lifetime if they paid in cash. Granted, I do think it is how we have been conditioned (keeping up with the Jones’), but how would someone buy a house without a good credit score? Cash?

 

Vehicles value depreciate, cash at hand doesn't depreciate in value minus inflation. Plus, it can be invested and grow. Times like these can come and you might have to sell your vehicle and eat up the depreciation, while cash at hand will have more or less the same value. No matter what happens, money I didn't convert into a vehicle is also mine and it wont lose value over time like a vehicle. So, I dont get the point "No matter what happens my vehicle is mine" argument.

 

Using cards with cash back or points is the smart way to do things. You can go to Costco and pay with cash or pay with their card and get 2% back for every dollar spent. When speaking financially and logically, which option is better?
As long as you pay the card off every month it doesn't cost you anything additional to use the card, but you do get something back, unlike with cash.

 

leasing is like renting if you give them the keys back and say you don’t want the car anymore. You have the option to trade it in or purchase the remaining balance outright if you so decide to do so. Not saying leasing is the best option but it’s not as bad as you’re making it out to be.

 

Car dealers never "lose" anything.

 

I've never leased. I just like the feeling of ownership and take very good care of my vehicles and keep them a LONG Time.
Example: owned the '96 for 24 years and have enjoyed 414,000 trouble free miles. Hope to get that out of my '18.

 

I bought mine. Paid in full right off the lot. Why? Because I can

 

I purchased mine, I like to feeling of owning myself and it helps that if I decide to get rid of it, these trucks hold their value fairly well compared to other vehicles.

 

I think this thread can go for ages.

Some people that lease could easily buy in full off the lot, but that's not a very good use of money if you can borrow it for cheap and put your $$ to work elsewhere. At least that was the case before the Virus.

Speaking of which, people that have other makes that are leased, that may have values that have tanked right now on their leases can simply walk away from them and not have to deal with vehicles that are upside down in value. Lease company's issue... Tacoma isn't in this boat, but lots of other makes/models are.

So like everything in life, there are pros and cons to it all..

 

Tacoma's hold their value so well that to me, it doesn't make sense to lease. I owned my 2017 for 3 years, and the kbb trade in value was $4,100 less than I paid for it. That's ~$115 a month for a SR5 DCSB V6 4X4. Where are you gonna find a lease that cheap?

 

i found it great to lease basic cars for around town. Typically can keep payments below 250, then buyout for about 10k at the end of the 3 years, really allows you mod your truck and not deal with the lease paperwork

 

In this environment, I'm not sure why anyone would lease with 0% financing, deferred payments and plenty to negotiate while buying.

 

But the same truck would be worth the same amount, whether leased, financed or paid for in cash. So if you were to trade in your lease, finance or paid off Tacoma the dealer would offer you the same amount. As long your interest rate/MF was the same between finance and lease you're not missing out on anything here. Total cost of ownership over those 3 years would the roughly the same.

You're right, you can't find a lease that cheap, but I assume you paid cash? So that's way more money tied up compared to simply making lease payments until it's time to trade and you get your $$ back out of it.

 

Right now, 0% would be very attractive but can you get the typical 10-12% off? If not, you’re paying the same in the end. I know in my area, SE Pa, dealer lots are VERY short on Tacomas so that is another issue.

 

Same

 

Again: The money factor and interest rates are NEVER the same. MF is always higher. Current loan rate on a Tacoma can be as low as 0 percent through TFS. Right now, the BEST lease rate is going to be a tick over 4% up to 4.8% depending which captive region you are in.

Leasing cost more $$ than purchasing.
Total cost of ownership when leasing is higher
Joe Lunchbox leases for two reasons and two reasons only: 1. No money for downpayment. 2. Can't afford the payments on a no downpayment loan.

Leasing fixes #1 and #2 That "fix" comes at a cost. That cost always turns out to be more than if you purchased.

 

Where I live 36 month lease rate is 2.99% and finance rate for 60 months is 1.99%, making it an easy lease decision in my opinion as I can easily make up that difference elsewhere.

 

HaHa...Funny stuff ^^^^ News Flash...there isn't region in the world where TFS has a MF of 0.001208 on the Tacoma without having to buy it down with about $3,000 + worth of MSDs....sheesh!


Give up. Seriously. You don't know what you are taking about. You are embarrassing yourself.

Glad you like your truck. Glad you like your deal. But your info? Completely inaccurate.

Again: Leasing cost more than purchasing. End of discussion ;-)

 

You can walk into any Toyota dealer in Canada and get a 2.99% lease with ZERO down payment. I have done it myself. Take a look for yourself.

https://www.toyota.ca/toyota/en/build-price/tacoma

There is a reason why people who know how to make their money grow by enlarge lease. You want to own appreciating assets and lease/rent depreciating ones. But to each their own.

 

I get market returns on index funds .

it doesn’t matter though. investments are a probability. Debt is a certainty.


I could be laid off right now, and I could handle it because I have no payment and I have a well stocked emergency fund. That’s what really matters. Not the market rate of return.