Buying vs Leasing a New Vehicle
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    coaltrain's Avatar
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    Buying vs Leasing a New Vehicle

    Quote Originally Posted by ejb69 View Post
    Depends on how you look at it. I ran my 99 dodge until it was worth nothing. Had to come up with 42k to get the 16 F250. It came with a 3 year warranty . I don't put a lot of miles on it so when the warranty is up I will likely get a new truck. part of the deal was free oil changes. So when I trade in I will not have spent anything on maintenance. The cost to repair the new tucks is outrageous and I don't trust all the electronic stuff that's on them.
    Yeah - there's a line somewhere when it is the best time to trade in. Years ago I heard it was 2 years or 10 years. But nowadays with so much 0% financing it makes a difference - you loose only depreciation value but not both that and finance charges which are the most at the beginning of a loan.

    I've been in the 10 year club for some time. I am at almost 9 years now and not getting nickeled and dimed....yet. A couple $400 repairs the past couple years but that was it. What was killer for me was paying 5.9% interest back in 2009 on a 7 year loan. Went all out with that truck and will never do it again - at least the long loan. I thought I would never pay it off.

    Leasing, while probably not the best financial way to do things, is now a popular choice for me. I've never leased a vehicle before but if I do get something new the next few years it will be a lease. One big advantage in my eyes is just what you said - with a 3 year lease it will be under warranty the entire time.
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    Quote Originally Posted by ejb69 View Post
    Depends on how you look at it. I ran my 99 dodge until it was worth nothing. Had to come up with 42k to get the 16 F250. It came with a 3 year warranty . I don't put a lot of miles on it so when the warranty is up I will likely get a new truck. part of the deal was free oil changes. So when I trade in I will not have spent anything on maintenance. The cost to repair the new tucks is outrageous and I don't trust all the electronic stuff that's on them.
    If mileage isnít an issue and your ok with having a payment then why not lease? Seems it would be a good thing for you. Your payments would be less with a lease, Iím on my third one now and it really is just as simple as handing them a set of keys, sign a couple pieces of paper and walk out with a new set of keys
    Last edited by PJR832; 02-01-2018 at 04:50 PM.
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    coaltrain's Avatar
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    Quote Originally Posted by PJR832 View Post
    If mileage isnít an issue and your ok with having a payment then why not lease? Seems it would be a good thing for you. Your payments would be less with a lease, Iím on my third one now and it really is just as simple as handing them a set of keys, sign a couple pieces of paper and walk out with a new set of keys
    Boy does that sound good. So you mean there isnít 2 weeks of negotiating like I did last time? I could write a really long post about it - I donít want to ever go through that again......

    My average mileage is 6k per year
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    Quote Originally Posted by coaltrain View Post
    Boy does that sound good. So you mean there isnít 2 weeks of negotiating like I did last time? I could write a really long post about it - I donít want to ever go through that again......

    My average mileage is 6k per year
    Based on my experience Stan it really is that simple.
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    Quote Originally Posted by coaltrain View Post
    Boy does that sound good. So you mean there isnít 2 weeks of negotiating like I did last time? I could write a really long post about it - I donít want to ever go through that again......

    My average mileage is 6k per year
    Youíd be perfect for lease. Iíve seen lease deals that are only for 10,000 miles a year. The less miles you put on the lower payments on the lease.

    We leased our first two vans and our 2008 Accord. We had a four year lease. Once it was up we ended up buying the car, which meant financing it for four more. Will never do that again. Our daughter now drives the Accord.

    A lease would not work for me anymore as I average 21,000 miles a year.


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    I have stayed away from leasing for a couple of reasons. I work construction, because of that I donít know how far from home I will be working. I have been at a large paper mill 10 miles from for a couple of years now. Before that I spent just over a year at a nuke plant that was 45 miles away. Sometimes get to take a company truck home, but that hasnít been the case lately. So i could easily find my self putting a lot more miles on the truck than I am now.

    The other reason is my truck gets used as a truck, i put stuff if the bed and it sees off road use do to I hunt and fish.

    Iím not really sure when the best time is to upgrade. I was thinking 3 years because thatís when the bumper to bumper warranty will end for me. My truck should have 30k on it then. Other than a few scratches,it should be in like new condition, tires should be at about 50%.

    I work with a couple of guys that run bear hounds. They replace their trucks every two years, largely because the trucks get pretty beat up looking if they keep them any longer. One of them just got a new Chevy. He got a fancier truck than he had and claims his payment went down.
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    coaltrain's Avatar
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    Quote Originally Posted by PJR832 View Post
    Based on my experience Stan it really is that simple.
    Iím going to have to study this - not that I donít believe you...

    It sounds to me that the dealer might be getting sticker price for their vehicles this way. I just find it hard to believe that there is no negotiation or price adjustment. When buying in my ecperiences you can get 15%-18% off the sticker price not including incentives. It would seem to me that if you could reduce the price of the vehicle your lease payments would be lower.

    I may have this all wrong however. I need to understand the entire process and financials before I even think about doing it. I would need to go into the dealership armed with this information - donít trust them myself. It just sounds too easy - and them making it easy for the customer means a rip off to me.
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    Quote Originally Posted by coaltrain View Post
    Iím going to have to study this - not that I donít believe you...

    It sounds to me that the dealer might be getting sticker price for their vehicles this way. I just find it hard to believe that there is no negotiation or price adjustment. When buying in my ecperiences you can get 15%-18% off the sticker price not including incentives. It would seem to me that if you could reduce the price of the vehicle your lease payments would be lower.

    I may have this all wrong however. I need to understand the entire process and financials before I even think about doing it. I would need to go into the dealership armed with this information - donít trust them myself. It just sounds too easy - and them making it easy for the customer means a rip off to me.
    There are still incentives and wiggle room on the price, even with a lease. But a good friend of mine is one of the sales managers at my local Chevy dealer, we also buy all of our service vans for work at this dealer, so I realize that I get a little preferential treatment but my point is, sticker price isn't necessarily sticker price on a lease, you can still haggle with them.
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    Quote Originally Posted by PJR832 View Post
    There are still incentives and wiggle room on the price, even with a lease. But a good friend of mine is one of the sales managers at my local Chevy dealer, we also buy all of our service vans for work at this dealer, so I realize that I get a little preferential treatment but my point is, sticker price isn't necessarily sticker price on a lease, you can still haggle with them.
    OK - that makes sense to me now.

    I had a terrible experience buying my present truck - really took any faith I might have had for that dealership. But since then a dealership opened up in town where I get all my service work done. I will do my research and try to have an open mind.

    I just hate paying too much. I realize they have to make a profit. Their service department has sold me on buying my next vehicle there.
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    Quote Originally Posted by coaltrain View Post
    Iím going to have to study this - not that I donít believe you...

    It sounds to me that the dealer might be getting sticker price for their vehicles this way. I just find it hard to believe that there is no negotiation or price adjustment. When buying in my ecperiences you can get 15%-18% off the sticker price not including incentives. It would seem to me that if you could reduce the price of the vehicle your lease payments would be lower.

    I may have this all wrong however. I need to understand the entire process and financials before I even think about doing it. I would need to go into the dealership armed with this information - donít trust them myself. It just sounds too easy - and them making it easy for the customer means a rip off to me.

    You are correct in your thoughts CT. Mrs. CP and I were just discussing this the other night. We were remembering back to 1999. That is when we leased our first Subaru, a Forester. I researched leasing to no end. I feel I got a good deal doing it this way. I never said whether I was leasing or buying until we had agreed on a price. I had that poor salesman going back and forth to his manager. When I heard the manager yelp, I figured I'd gotten to the end of my negotiations. However, it took so much darn time, that it was exhausting. With the truck, I had watched the ads on TV and had looked at Chevy's website, so I had an idea of what the payment should be. They came out the door with a good payment, so we agreed. We never negotiated price. Looking back, Mrs. CP and I feel we could have done better. Despite dreading it, I will go the long route and negotiate price the next time. Also, I've always had good luck getting them to through things in, mud flaps, etc. No go with the truck for some reason. Also, I might add, I am a firm believer in not putting any money down on a lease. The cash will do me better in my account than by lowering the payment a few measly bucks per month.
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