Leased, Financed or Cash?

bought new in Jan. 2011. Paid cash. I generally put a 100k miles on vehicles, but may try to put 200k on this one. I've got 150k to go.

 

10k down, no trade-in (sold other truck outright) financed through local bank at 1.9% 60-months but hopeful to payoff in 48-months

 

Thought this was how you bought your Gen3....were they selling them in 2011?

 

Geesh, wish I was like some of you guys dropping major cash down. Had to finance all 93% of mine. Oh well. Someday I'll make enough money.

 

back to the 2nd gen forum for me.

 

Hey wait for me!!! How did we end up here anyhow?

 

I used money saved from my income tax return and what cash i made selling my older truck .. that's how i was able to put 10k down

 

10k down. Remainder financed through wells Fargo 2.45%rate

 

Traded in my 2010 Sport for a 2016 Sport. Used the equity in the old vehicle as a downpayment for the new vehicle on a lease to keep payments as low as possible. Not sure if that was smart or not, but that's what I did. I weighed all the pros and cons on a purchase vs lease, and decided I want to always be under warranty. I keep my vehicles stock for the most part.

Speaking of leases, can anyone comment on what happens during the pre-inspection near the end of the lease terms? Details on what they actually check/do at that time? Experiences to share?

 

They typically check mileage, condition on tires, scratches, wear and tear on the interior.

When it comes time to turn it in here's my $.02. I used to buy all my cars until my girlfriend /wife now leased a new Acura RDX. when the lease was up we went to turn it in and were advised to trade it. We took it to Toyota and traded it on a Highlander and We were given about 5k over what our payoff was had we decided to keep it. We basically drove that car less the cost of gas for three years and used the extra money down on the Highlander. I have since started doing the same with Tacomas. They hold their value so well it seems hard to loose. Never turn the lease in "buy it" and trade it in.

 

19.1k cash
20k credit union 1.49% over 5 years

 

Wow 1.49? I thought I got a smacking deal at 2.45

You are located in socal too. Hmm I'm going to have to check credit union out

 

Schools First Credit Union. I belive you must work inside a school district to be a member. Call them up, though. My high credit score and my wife's strong history got us their lowest rate. We also refinanced my wife's car with them the week before at 1.62%

 

Oh wow good for you that's awesome. I don't think my credit was an issue I'm in the mid 800's..
I just assumed 2.45% was as good as I was going to get

 

A few years ago, I had leased a Toyota pickup. When it came time to turn it in, there was nothing to it. A Gentleman came to my work, he did check mileage, and did a walk around. I had a few door dings and a good dent in the back bumper. I even pointed out the damage. He replied that it was all normal wear and tear on a 3 year lease. There was some paperwork to sign. He then asked for the 2 sets of keys and drove it away. Took all of 10 minutes. Only problem was getting a ride home.

 

I usually don't hear of anyone turning in a Toyota truck lease at the end. Typically they have so much equity at lease end, most people sell them and pocket the difference between residual and private sale price!