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Did you buy or lease, and why?

Discussion in '3rd Gen. Tacomas (2016-2023)' started by GIANTSteps, Mar 9, 2017.

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Buy or Lease?

  1. Bought

    341 vote(s)
    81.2%
  2. Lease

    26 vote(s)
    6.2%
  3. Lease, intend to buy out

    53 vote(s)
    12.6%
  1. Sep 24, 2020 at 4:10 PM
    #241
    Grossomotto

    Grossomotto Complete 3rd Member

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    39.9526° N, 75.1652° W
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    We are talking about a Toyota Tacoma, the highest resale value of ANY vehicle ever made. Those are the facts any which way you want to work your lease numbers.

    https://tap.fremontmotors.com/automotive-news/2019-best-resale-value-trucks-suvs/amp

     
  2. Sep 24, 2020 at 4:14 PM
    #242
    FauxPro

    FauxPro Well-Known Member

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    It is just money...
    Walked out of the the dealer at 33k on 0.9% financing two and a half years ago. Vroom offered trade in of 31.5k this week.

    Do whatever works for you. I bought because I knew I'd be okay in the end and could afford the payments.
     
  3. Sep 24, 2020 at 4:26 PM
    #243
    TCB2020

    TCB2020 Well-Known Member

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    Bought...I've never seen the logic of leasing if you can afford to purchase. At some point, even with financing, the vehicle will be yours and there is nothing like not having a car payment to make every month. I bought my first 4x4 Toyota, a 1980, in1982 and drove it for 13
    years. I traded that for a 1994 SR5 in 1995 and drove that for 25 years. 2 trucks, 38 years. My 2020 TRD Sport was purchased at the end of 2019 and it will likely outlast me.
     
    RedWings44 and Grossomotto like this.
  4. Sep 24, 2020 at 5:22 PM
    #244
    greengs

    greengs Well-Known Member

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    I had enough to pay cash, but I leased. I just don't see it as a good use of $ to tie up all the money in a depreciating asset. But, at the same time I am honest with myself and would never pretend I would keep any vehicle longer that 3-4 years. If that changes, I probably would look to either pay cash or finance at a lowest rate possible.
     
    JoeWillie and td812 like this.
  5. Sep 24, 2020 at 5:33 PM
    #245
    td812

    td812 Well-Known Member

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    Terry
    Southern Indiana
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    3" lift in front and 2" in rear. G-FX TR-16 wheels
    It is going to be a wash for me because in 8 months I’m going to turn my lease in. I’ve done the math. If you are certain you are going to keep it then buying is the better option but buying out a lease is a poor option. I don’t know if I would want a smaller truck forever so leasing worked out because I do not. But buying it at the end of the lease would have been a more costly endeavor overall. The cost to lease vs the cost to buy minus the value after 3 years is a wash for me And I knew there was a great chance I would not want it after 3 years. So it all depends on how long you will realistically keep it.
     
  6. Sep 24, 2020 at 7:29 PM
    #246
    Chastaco

    Chastaco Well-Known Member

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    To your credit, you are one of the more knowledgeable lease proponents and I believe it works for you, especially if you’re leasing Audi’s. But what you’re missing is that you don’t continue to have a large payment (and “basically lease”)if you sell and get new every 5 years. Over my last 3 Tacomas I’ve built up enough equity ($27,000) to where I am driving a 2020 TRDOR for a measly $200 payment. I’ve never put money down. Only kept my 2016 for 4 years. Making a payment on a Tacoma is like putting $.70 on the dollar in the bank.
     
  7. Sep 24, 2020 at 7:56 PM
    #247
    Taco_mike73

    Taco_mike73 Well-Known Member

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    York, PA
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    2020 Cement SR5 DCSB 4x4
    Lomax tonneau cover, oem bed lights, AJT Design chrome delete, black out badges & tailgate letters, AVS hood deflector & vent visors, Solkie tech hood supports, interior LED lights, Tufskinz mud guards, RedArc TowPro Liberty, bed mat, kicker speaker upgrade, Hikari ultra H11 low beams, Diode Dynamics SS3 fogs in yellow, Meso customs total taillight stage 1. Coming soon: Compact powered sub install Future mods planned: bigger tires (265/75/16) BILLSTIEN 5100 lift
    I purchased mine. I am probably not the best with understanding leases and such on vehicles. I know you have limits on miles and modifications. I drove more when I was younger so the few times I looked at leasing a new vehicle buying the extra mileage made it as expensive as financing. I always went to the used cars for better price.
    The last vehicle I kept over 10 years and I've always been hard to talk out of a vehicle if it worked for me. So I just don't see the point in a lease for me.
    I bought my Tacoma as my first brand new vehicle with a substantial amount down and sold my old Jeep privately. I wanted a payment in the low $400s for 60 months and I got that. I can really afford more but it's nice to have cash not tied up in payments if I have other expenses for any reason. I plan to pay it off early as possible and already paid in the cash from the Jeeps sale in to the loan. I will probably keep the truck for 10 years or more. So I will enjoy no payments eventually again for a few years.
     
  8. Sep 24, 2020 at 8:25 PM
    #248
    Kairide

    Kairide Well-Known Member

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    Let’s just say I purchased my Tacoma, being a serial lessor of Audis and a Tesla...I knew a Tacoma was a good investment to purchase.

    But if you lease a Tacoma, the same holds true with equity. Since you can trade it in at anytime, you can take advantage of the high resale value as well for another vehicle.
     
    Chastaco[QUOTED] and PapaRee like this.
  9. Sep 25, 2020 at 9:24 AM
    #249
    boilovepho

    boilovepho Member

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    Bought, I plan to keep this thing forever .
     
    BMH likes this.
  10. Sep 25, 2020 at 10:12 AM
    #250
    BMH

    BMH Well-Known Member

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    Bruce
    Pend Oreille County, WA.
    2020 4x4 SR AC 2.7 liter - Bare Bones Base Model
    I'm one of those weirdo's who believes that if I'm making payments on something... I better end up owning it.
    Call me crazy/old school...
    But I'm also one of those weirdos who keep rigs for 20+ years also.. (I've still got .. That I bought new.. A 95' Dodge B2500 van. In pristine shape ..) And I'm also an over-the-top 'Maintenance' weirdo also... (BTW, I've also got a 94' Bronco .. but that's my snow plow, so .. It's ugly as shit and kinda' beat-up, but runs great .. LOL!)
    Bought my new SR AC 2.7 4x4 in Aug. Bare Bones Basic. But I did so, because I could afford to cut a check in full. And because I specifically wanted the 4-banger (Better MPG) and those aren't available on the higher-priced rigs.
    And .... I don't like making payments of any kind.. :thumbsup:
     
  11. Sep 25, 2020 at 7:01 PM
    #251
    Bsven316

    Bsven316 Well-Known Member

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    Brett
    Portsmouth, RI
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    I bought because I put about 25-30k miles on a year. Been trading them in every few years for the last 10 years. Just bought my 4th Tacoma. Keep using the equity in the trucks to keep upgrading models. Started with a 4 cylinder SR and have worked up to TRD OR Premium.
     
  12. Oct 5, 2020 at 1:47 PM
    #252
    qiuzman

    qiuzman Well-Known Member

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    If this was true then leasing wouldn’t exist. If you value your money now more than later a lease makes way more sense. I purchased my Tacoma In 2016 but depending on my intentions leasing could have made sense too.
     
    Last edited: Oct 5, 2020
    JoeWillie likes this.

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