Lease or Buy? Whats everyone doing

oh crap that's right, I remember you saying that and I think you posted a pic of it too. That makes sense. Really discouraging about buy future vehicles though. I hope you've gotten all that bad crap behind you!!

 

Oh yea, I'm good now, just sucks having to keep starting over in the finance process. I think the only way I can ever pay off a vehicle is if I buy a moped and lock it in a padded shed

 

i picked a model within my budget for payments for a 36 mo loan. didn't want 5 years or more of payments when i don't even have a house yet.

 

I don't understand why people lease. There are no benefits to leasing that you couldn't do with financing and you never build equity. If you're a smart car buyer and structure the deal right, you won't be upside down in the vehicle for the majority of the loan and you can trade anytime you'd like.

Equity accrued from my previous two vehicle loans paid for 1/3rd of my Tacoma.

 

I can only imagine.
You know, they do make portable containers like that for motorcycles. Haha

 

Go get your loan and buy one, I own my truck already and I bought it in Dec. 2018. Love my truck, I guess I got a good one, no complaints

 

I leased mine but not sure if I’ll purchase it after 2 years. I have a feeling I’ll want the 2020+ TRD Pro. As far as modding it, a lease shouldn’t stop you from that. Just save some of the stock parts (ex; wheels and tires)and put back on if you plan on trading it in.

It’s No different than a purchase. After a while you’re going to sell it with the mods on it anyway. And mods don’t increase the value of the car so you’re losing money either way you do it.

 

yea I may just wait for 2020 hah looks insane

 

Cartips.com

 

I'm leasing to buy mine. I did this because I really wanted a Tacoma but didn't want to put money down to have a lower monthly payment. My lease is $380/month which includes GAP insurance and I put $0.00 down.

I know that at the end of the day I'll be spending more money because of this path I've taken but I can live with that. I have the truck I want and it's not hurting the bank.

 

You and I got close to the same deal. I put 2k down and payment is $351. Didnt you have to put something down to make the first payment and pay reg? I know out of my $2k down it covered first payment and tax and Reg and lic etc.

My residual is $27,6. I only plan on having at the most 16k mileage on it at 3 yrs and i plan to sell and make some money and maybe lease another.

 

10 years in the car business, already explained it several times on here but its tiring correcting all the ignorance on leases so I'll just give some bullets points:

1. The advantages of leasing vary widely by state. Any state that charges sales tax on only the cap cost reduction and depreciation (tax per payment) creates a HUGE incentive for leasing, and most states are actually like this. But if you live in Texas, New Jersey, Oregon and I think like Ohio then I understand why leasing isn't appealing. Places like California and Florida which have high sales taxes on up front purchases but shield you from that tax liability on leases you're pretty much a financial fool for not leasing ASSUMING a good lease program is available (not all vehicles lease well)

2. How many miles you drive has nothing to do with rather you should lease or not, in fact if you drive a lot of miles its almost MORE reason to lease

3. Modding your vehicle has nothing to do with rather you should lease or not, I've modded the shit out of my truck and it started as a lease.

4. The people that understand leasing the best are the people that do it everyday... I.E. people in the car business. They almost all universally lease their vehicles, same with wealthy people. If leasing was such a terrible idea wouldn't the people that are smartest with their money and professionals that understand it the best avoid it?? They must know something lease haters don't

 

Maybe things are different up here in canada.... I leased because I got a much better interest rate than if I financed. This is generally the case.

At the end of the lease, I have cash to buy it out. My total payable will be well under the price I would have paid had I financed at the higher rate.

It's actually even cheaper than paying cash up front, because I'm making 5-6% on the cash that's going to buy out the truck at the end of the lease and am only paying 0.9% on my lease.

Seems pretty smart to me.

 

I heard over the weekend,,,,

Automakers are going to be coming out with (Subscribtions)

Basically you sign up, pay a monthly payment and have access to different models vehicles from that maker. Drive SUV one day, coupe the next. Not really appealing to me, idk maybe down the line.

 

It’s not just about the price, you have to factor in the monthly finance charges and taxes into that final price. Since financing has added charges, it ends up being a lot more than the agreed buyout price.

 

My lease last month...

2019 Toyota Tacoma TRD Off Road Double Cab AT - Premium & Tech

MSRP: $41,846
Discount: $3,004
Rebate: $750
Selling Price: $38,092
Monthly Payment: $317.32
Cash Due at Signing: $1,045 (TT&L)
Months: 24
Annual Mileage: 12,000
MF: 0.00175
Residual: 83%
Region: Midwest

 

Yeah my first payment was due, which was the $380. The fees ($1400) are worked into the lease amount. My residual is $28000.

 

I did my math like I did for my last few vehicles. I'm good to go.

 

A lease would make good sense if there's a more fuel efficient Tacoma on the horizon. Otherwise, if you're planning to keep the truck, buying from the onset will save you a lot of coin.

 

I leased a 2017 Subaru Outback and just traded in for a new Taco. If you trade every few years it’s not bad leasing if the car holds value. But I am tired of payments so I financed and plan to pay it off for good.