Is this a good lease deal?

You're right, the current market is an aberration, and it won't last forever. But whether or not leasing today would be beneficial or not depends on the numbers in the lease. I don't know if residual values on a 2021 Tacoma leased today versus a 2018 Tacoma leased 3 years ago have climbed much higher.

The supply issue has eliminated the standard discounts, so you will pay more today than even a year ago, but I am assuming the residual value has stayed close to the same, and it would take 4-5 years for that number to significantly change.

The current market for buying any car is bad right now if you pay cash, finance, or lease.

 

YES!!! Same goes for houses...but that's a different story.

 

Yeah houses are actually even better since you can tax deduct the mortgage interest if you can itemize your returns.

 

Much harder to do after the 2019 tax year when they raised the standard deduction. Heck, I remember when I used to take the personal interest deduction on basically any kind of interest I paid, which back in those days was significant

 

several propertys

8 motorcycles in the garage

simply debt free

it aint about me


people have been upside down in the market before

i now folks that owed thousands on homes / vehicles

this market will correct............short term many will get out b4 the lock

yet when crunch time does hit more than a few will get sucked under


only have to look back to the recessions

abject inflation

high unemployment

U cant ignore history


op asking permission to justify something risky

i doubt his banker would advise him to do it

people go to the meat grinder everyday

hamburger !

 

many live in states that dont have state income tax

excise taxes

personal property taxes

business taxes

so not everyone pays out the ‘ Penalty ‘ taxes of being successful!!

given some dont have to pay

for those that do ................its NEVER mentioned the LOSS of $$$$$$$

for ALL the associated fees / taxes at EACH transaction = monetary loss

 

My advice is to read some Dave Ramsey books.

 

no the thought is if you put money down on the lease and it gets totaled right off the lot you will be out that cash.

 

Yeah, I said that right in the post that you quoted. However, many insurances now have add ons for gap coverage/new car replacement if things go south that early on.

I will say this, if losing a down payment on a total loss of a lease would be life changing, I probably couldn't afford the truck in the first place. Life is full of choices where you have to consider the risk. But most choices in life that are worth it involve some level of risk.

 

Yeah plus total loss situations are also not great if you buy the car. If the car gets totaled 2 year after you buy it, you will only get paid for the current local market value of a 2 y/o truck. That amount will not let you buy a new truck, so in essence you wont be able to fully replace the totaled vehicle.

Leases are more risky if the vehicle gets totaled early on, while buying it with cash makes it more risky between the point of "replace with new" clause and something like 5 years (or until when deprecation rate slows down).