Taco Brethren - Taking over a lease, Good Opportunity? Please advise...

Because I “own” it. If you rented an appartment and the land lord told you to pay for a broken water heater yourself or the semi annual collection on a septic system, would you shrug and say ok?

 

Not everyone is a "baller" like you that can drop $35k on a vehicle today. Also, like I previously stated, not everyone drives a vehicle until the wheels fall off so a lease can be very attractive and much cheaper than paying cash or financing if you want to stay in something new every few years.

 

But you're still responsible for paying the utilities of the apartment? Its the cost associated with living.

If something breaks on the truck, a leased truck is under warranty.

 

Well said, my thoughts exactly. If the value of the truck is below the residual then the dealer will have no choice but to negotiate the price at the end. With that being said, maybe when tacotimeTRDOR asked the dealership if it was negotiable, maybe they thought you meant when you take over the lease and not at the end of the lease when it is time to buy or turn in.

 

Utilities would compare to gas. Breaks, oil changes, air filters (routine maintenance) etc would not compare to utilities. We can agree to disagree on this topic.

If the intent is to buy at the end, a lease is never in the interest of the individual.

If the intent is to lease a new vehicle every couple years then it may or may not be in the best interest of the person depending on mileage allowed vs put on it.

 

My comment was not directed at you.

I don’t know why you keep trying to justify how you buy vehicles to me. I don’t care. I wasn’t the one asking for opinions on leases.

 

You don't turn the lease into the dealer you give it back to the manufacturer. There's no negotiating residual values and thats a GOOD thing. You might be thinking of the days when open ended leasing was a thing.... people got so fucked that leasing STILL has a bad name to this day because of it.

All leases are no closed-end leases, residual is set the day you sign and there's no changing it.

If the car ends up being worth less than the residual then the manufacturer eats the difference when it goes to auction. If you want to buyout your lease you pay residual, no more no less.

 

How ironic.

 

Thanks for the clarification

 

Lol you STILL don't get it. He CAN pay $34,600 today that literally how 1pay leases work... but lets be honest you don't even know what a 1pay lease is do you?

Like I said originally you clearly don't understand leasing much less the intricacies of taking over a 1pay, so its weird you feel this incessant urge to give terrible advice about something you don't understand. Its ok to just be quiet when you don't know the answer, heck you might even learn something! But all you have to offer is "derp derp never lease!" and you can't even explain why lol

 

Neither does he, that’s why he’s driving a 2013.

 

I’m aware of that. Thats why I made the suggestion.

 

With this thinking if you spent $3000 on groceries last year, now this year you don't have those same groceries a year later it was a waste of 3 grand and those groceries are gone, what a waste dont ever buy groceries.

 

I think he was trying to be helpful to the OP. Most financial advisors will always tell you to stay away from leasing and there are many publications on the same subject. Just because he drives a 2013 doesn’t mean he doesnt have the money for a 2019, maybe he is just more fiscally responsible than others and has an idea of where he wants to be financially in the future instead of wasting hard earned money on depreciable items.

 

If you have to brakes on a lease than your going way over your mileage or your bought a shitty vehicle.

 

Not quite, I don't know if its different today but a few years ago, I was able to negotiate the buyout at the end of my lease.

2 months prior to turn in Lexus inspected my vehicle to access the value, mileage, wear and tear and I didn't go over miles or have any excessive wear and tear. However, the value of the car was less than the residual in the contract. So when Lexus called me about a month prior to lease turn in they asked me what my plans were and I said I would buy it at the value of the car and not the residual and a few days later they got back to me and accepted my offer and drafted up a new contract for buyout.

Why would they do this? Well they would rather just let me keep the car at the value instead of paying to trailer it, market it, and other costs associated with trying to sell the car.

This was with Lexus Financial too.... But this is on case by case basis and rare though and highly doubt this would happen with a Tacoma.

 

Oh fuck you have a point

Fuck groceries

 

Most financial advisors tell people not to lease because most people who see leases, are attracted to the low monthly payment without knowing a few important details. The average individual probably doesn't know that you can negotiate the price of the car when leasing to get as low of a monthly payment as possible and other things such as money factor etc etc.

It's not that leases are bad, it's just that the average consumer doesn't realize what is all involved with a lease and tend to make poorer decisions because all most people see is the low monthly payment.

 

Has anyone made any sense of this deal?

I may have missed something, but unless the seller is a trust fund baby this seems like a scam.

 

Despite all the back and forth on leases, I agree with this. ^^ Back to OPs question. If this is 100% true 3k for 22 months, I’d be all over it. However, I simply don’t believe it either. Too good to be true