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Title: Buy vs. Lease Post by: FoxHondaRider on February 29, 2008, 03:53:03 PM I am looking to buy or lease a truck. I want a Tundra but i'm not sure if I should buy or lease. Leasing will build up your credit if you pay like your supposed to which is good, but it would be about $11k every 3 years for a new loaded truck vs paying $18k for a used older model that you get to keep. What do ya'll think?
Title: Re: Buy vs. Lease Post by: KD 428 on February 29, 2008, 04:37:18 PM Buy
Title: Re: Buy vs. Lease Post by: Young Gun on February 29, 2008, 04:51:35 PM Title: Re: Buy vs. Lease Post by: backwoods boy on February 29, 2008, 07:37:39 PM definately buy cuz if not your gonna be pissed after payin for 3 years and not have anything to show for it the only exception would be if your planning on keepin it short term either way in wich case keep the mileage in mind i put like 6k a year on my older trucks but soon as i got a nice truck i put 10k on it in 6 mo mileage is not cheap on a lease
Title: Re: Buy vs. Lease Post by: Bruteforce SRA on February 29, 2008, 07:50:44 PM NEVER lease..you will always lose in the end
Title: Re: Buy vs. Lease Post by: SWAMP_DONKEY on February 29, 2008, 10:25:23 PM Actually buying or leasing gives you the same credit rating when you make the payments on time. The myth used to be you need better credit to lease when actually you didn't need as good of credit to lease. Leasing can be good if you trade every 2 to 3 years. If you buy you will prob finance for 60 or 72 months, most vehicles loose 50% of their value in the first 2 years so after 2 years 90% of people buying are "upside down". Leasing you have a paid up contract after 2 or 3 years and start fresh instead of carrying over inequity to the next purchase. Also with a lease you have a lower payment (more car, less money) then buying and you are ALWAYS under warranty. The logic is with leasing "I never own my vehicle" when reality is most of us will never own our vehicles we trade or wreck them before we pay them off...thats why they have drive up windows @ banks, so we can take out cars to see their real owners once a month. ;) Do your research before you sign anything and always remember to make sure the price you agreed to pay is the the same on the lease. The residual value is based on the MSRP of the vehicle so if the list price is 30,000.00 and the residual value is 50% the residual value is 15000.00 you only pay payments on the selling price from the residual. Say you negotiate a 4000.00 discount (normal on new trucks) then you will pay on 11000.00 over the term. 30000.00 -4000.00= 26000.00 - 15000.00 residual = 11000.00 you also have to be carefull because the money factor can be raised as much as 4 points so ask to see a rate sheet or check on line before entering a dealership. Car dealers for the most part will trick you any way they can make more money and because folks aren't "up on leasing" they tend to push you in that direction. I will be glad to help you purchase or lease a vehicle, you have to be very carefull out there. Leasing is good I used to lease all my vehicles but you have to know what you are doing. I trained dealerships all over the state on leasing and how to make it "MAKE SENCE" to the customer.Good Luck and let me know if I can help. ;)
Title: Re: Buy vs. Lease Post by: FoxHondaRider on February 29, 2008, 11:09:44 PM good info, its very clear now to buy not lease. I'm not worried either with a Toyota breaking down so i wouldnt need a warranty. Next step is looking for a Toyota Tundra. I want black, white or silver with those BBS wheels :)
Title: Re: Buy vs. Lease Post by: 1FasterBlaster on February 29, 2008, 11:35:13 PM Buy. I just bought a nice 01 Chrysler Town & Country. My opinion, leasing is for anyone who doesn't want to take care of the car. They would rather the dealer do it.
I don't have money to throw into the wind like some folks do. Title: Re: Buy vs. Lease Post by: Turboderf on March 03, 2008, 07:59:09 AM buy
Title: Re: Buy vs. Lease Post by: Da_Mtg_Man on March 03, 2008, 08:59:10 AM Actually buying or leasing gives you the same credit rating when you make the payments on time. The myth used to be you need better credit to lease when actually you didn't need as good of credit to lease. Leasing can be good if you trade every 2 to 3 years. If you buy you will prob finance for 60 or 72 months, most vehicles loose 50% of their value in the first 2 years so after 2 years 90% of people buying are "upside down". Leasing you have a paid up contract after 2 or 3 years and start fresh instead of carrying over inequity to the next purchase. Also with a lease you have a lower payment (more car, less money) then buying and you are ALWAYS under warranty. The logic is with leasing "I never own my vehicle" when reality is most of us will never own our vehicles we trade or wreck them before we pay them off...thats why they have drive up windows @ banks, so we can take out cars to see their real owners once a month. ;) Do your research before you sign anything and always remember to make sure the price you agreed to pay is the the same on the lease. The residual value is based on the MSRP of the vehicle so if the list price is 30,000.00 and the residual value is 50% the residual value is 15000.00 you only pay payments on the selling price from the residual. Say you negotiate a 4000.00 discount (normal on new trucks) then you will pay on 11000.00 over the term. 30000.00 -4000.00= 26000.00 - 15000.00 residual = 11000.00 you also have to be carefull because the money factor can be raised as much as 4 points so ask to see a rate sheet or check on line before entering a dealership. Car dealers for the most part will trick you any way they can make more money and because folks aren't "up on leasing" they tend to push you in that direction. I will be glad to help you purchase or lease a vehicle, you have to be very carefull out there. Leasing is good I used to lease all my vehicles but you have to know what you are doing. I trained dealerships all over the state on leasing and how to make it "MAKE SENCE" to the customer.Good Luck and let me know if I can help. ;) What the hell do you know? ;D Title: Re: Buy vs. Lease Post by: GrizzlyGator on March 03, 2008, 09:00:21 AM also remember:
you will have to fix anything they find wrong with the vehicle when you turn it in and i mean anything...the only way out of that is if you turn right around and either purchase or lease another vehicle from THEM! Also there can be fees when you turn it back in to the dealer could be a couple of thousand; sometimes as SWAMP_DONKEY said you have to pay a lot of attention to the contract!!!! In my opinion when you lease it is a never ending cycle of car payments granted a lot of people don't keep their vehicles very long these days but lets say you lease for 3-4 years you have nothing in the end but if you bought the vehicle at least after mahybe 4 years of payments you may have some tradi-in value and or you'll own it...leasing is like a credit card you'll pay till you die!!! and never pay it off...jmho ;D Title: Re: Buy vs. Lease Post by: Mudneck on March 03, 2008, 10:21:26 AM Actually buying or leasing gives you the same credit rating when you make the payments on time. The myth used to be you need better credit to lease when actually you didn't need as good of credit to lease. Leasing can be good if you trade every 2 to 3 years. If you buy you will prob finance for 60 or 72 months, most vehicles loose 50% of their value in the first 2 years so after 2 years 90% of people buying are "upside down". Leasing you have a paid up contract after 2 or 3 years and start fresh instead of carrying over inequity to the next purchase. Also with a lease you have a lower payment (more car, less money) then buying and you are ALWAYS under warranty. The logic is with leasing "I never own my vehicle" when reality is most of us will never own our vehicles we trade or wreck them before we pay them off...thats why they have drive up windows @ banks, so we can take out cars to see their real owners once a month. ;) Do your research before you sign anything and always remember to make sure the price you agreed to pay is the the same on the lease. The residual value is based on the MSRP of the vehicle so if the list price is 30,000.00 and the residual value is 50% the residual value is 15000.00 you only pay payments on the selling price from the residual. Say you negotiate a 4000.00 discount (normal on new trucks) then you will pay on 11000.00 over the term. 30000.00 -4000.00= 26000.00 - 15000.00 residual = 11000.00 you also have to be carefull because the money factor can be raised as much as 4 points so ask to see a rate sheet or check on line before entering a dealership. Car dealers for the most part will trick you any way they can make more money and because folks aren't "up on leasing" they tend to push you in that direction. I will be glad to help you purchase or lease a vehicle, you have to be very carefull out there. Leasing is good I used to lease all my vehicles but you have to know what you are doing. I trained dealerships all over the state on leasing and how to make it "MAKE SENCE" to the customer.Good Luck and let me know if I can help. ;) What the hell do you know? ;D Swampass grabbed that from the net & inserted the smileys......DUH!~ ;) Title: Re: Buy vs. Lease Post by: AmericanRobster on March 03, 2008, 06:11:14 PM BUY!!! so you have something to show off in 3 years
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