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Leasing a Vehicle #2371961
01/14/18 05:37 PM
01/14/18 05:37 PM
Joined: Nov 2004
Posts: 14,202
Pikes Peak
J
JDR4Bama Offline OP
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JDR4Bama  Offline OP
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J
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Posts: 14,202
Pikes Peak
Thinking about leasing a Chevy Traverse tomorrow. Any advice? Never leased, but as far as I can tell - it would be to my advantage to do so - given my current situation.

Re: Leasing a Vehicle [Re: JDR4Bama] #2371966
01/14/18 05:41 PM
01/14/18 05:41 PM
Joined: Dec 2004
Posts: 18,757
.
F
ford150man Offline
Old Mossy Horns
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Posts: 18,757
.
Very, very few people benefit from a lease. Usually only certain tax deduction situations for business owners. For MOST folks, it's not nicknamed a "fleece" for nothing. The dealerships don't come up with these plans because they are your friends.


If voting made any difference, they wouldn’t let us do it.-Mark Twain
Re: Leasing a Vehicle [Re: JDR4Bama] #2371967
01/14/18 05:42 PM
01/14/18 05:42 PM
Joined: Jun 2015
Posts: 13,971
Some Marriott/Auburn
A
AU7MM08 Offline
Booner
AU7MM08  Offline
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A
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Some Marriott/Auburn
The rule is that leasing is a bad deal, there are exceptions to just about every rule though.

Re: Leasing a Vehicle [Re: ford150man] #2371973
01/14/18 05:47 PM
01/14/18 05:47 PM
Joined: Nov 2003
Posts: 6,713
Baldwin County
mark Offline
14 point
mark  Offline
14 point
Joined: Nov 2003
Posts: 6,713
Baldwin County
Originally Posted By: ford150man
Very, very few people benefit from a lease. Usually only certain tax deduction situations for business owners. For MOST folks, it's not nicknamed a "fleece" for nothing. The dealerships don't come up with these plans because they are your friends.


Sig Sauer, to hell and back reliable.

Whatever suits you just tickles me plum to death.

Can I refill your eggnog for you? Get you something to eat? Drive you out to the middle of nowhere and leave you for dead?

Re: Leasing a Vehicle [Re: JDR4Bama] #2371990
01/14/18 06:11 PM
01/14/18 06:11 PM
Joined: Jan 2005
Posts: 33,437
Your mom’s house
doekiller Offline
Freak of Nature
doekiller  Offline
Freak of Nature
Joined: Jan 2005
Posts: 33,437
Your mom’s house
Don’t do it

Re: Leasing a Vehicle [Re: JDR4Bama] #2372000
01/14/18 06:30 PM
01/14/18 06:30 PM
Joined: Nov 2004
Posts: 14,202
Pikes Peak
J
JDR4Bama Offline OP
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JDR4Bama  Offline OP
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J
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Posts: 14,202
Pikes Peak
I understand the basic sentiment but here's what I like:
I won't be in debt to a depreciating asset
My wife will be the driver and has less than a 10 mile round trip to take both kids to school and herself to work, daily.
We use my truck for road trips
Plan to use GAP insurance
Plan to put zero or very little down

I'd like to hear about the problems/risks. I think I've recognized most.

Thanks for the feedback so far.

Re: Leasing a Vehicle [Re: JDR4Bama] #2372008
01/14/18 06:41 PM
01/14/18 06:41 PM
Joined: Dec 2004
Posts: 25,065
Guntersville, AL
IDOT Offline
I am Cornholio
IDOT  Offline
I am Cornholio
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Posts: 25,065
Guntersville, AL
If you got 5K, just find something and buy it outright.... my .02


Originally Posted by Patricia Heaton
If you’re a common sense person, you probably don’t feel you have a home in this world right now. If you’re a Christian, you know you were never meant to.


Re: Leasing a Vehicle [Re: JDR4Bama] #2372011
01/14/18 06:51 PM
01/14/18 06:51 PM
Joined: Nov 2004
Posts: 14,202
Pikes Peak
J
JDR4Bama Offline OP
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Pikes Peak
I’m not gonna deal with a used vehicle - not for the family.

Re: Leasing a Vehicle [Re: JDR4Bama] #2372012
01/14/18 06:53 PM
01/14/18 06:53 PM
Joined: Aug 2014
Posts: 13,838
Mobile, AL
S
SouthBamaSlayer Offline
Gary's Fluffer
SouthBamaSlayer  Offline
Gary's Fluffer
S
Joined: Aug 2014
Posts: 13,838
Mobile, AL

Originally Posted By: JDR4Bama
I’m not gonna deal with a used vehicle - not for the family.


Then sounds like you've got your mind made up.

Re: Leasing a Vehicle [Re: JDR4Bama] #2372016
01/14/18 06:56 PM
01/14/18 06:56 PM
Joined: Nov 2004
Posts: 14,202
Pikes Peak
J
JDR4Bama Offline OP
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JDR4Bama  Offline OP
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J
Joined: Nov 2004
Posts: 14,202
Pikes Peak
It’s between buying new or leasing. Leaning toward leasing for 3 years, then buying either that vehicle or a new one for cash.

Re: Leasing a Vehicle [Re: SouthBamaSlayer] #2372017
01/14/18 06:57 PM
01/14/18 06:57 PM
Joined: Oct 2010
Posts: 4,753
haleyville al,
D
dnolen Offline
10 point
dnolen  Offline
10 point
D
Joined: Oct 2010
Posts: 4,753
haleyville al,
Originally Posted By: SouthBamaSlayer

Originally Posted By: JDR4Bama
I’m not gonna deal with a used vehicle - not for the family.


Then sounds like you've got your mind made up.
yep. Sounds like it. Let us know how it turns out when you have to cover the stains in carpet and seats from the kids. That small dent from a roll away buggy at wal-mart. When you turn it in you have to pay penalties for crap like that no matter if your buying it or not. Had a friend get burnt by gm like that. He figured everything up and spent a 10-15 grand for a lease

Last edited by dnolen; 01/14/18 07:01 PM.
Re: Leasing a Vehicle [Re: JDR4Bama] #2372019
01/14/18 06:58 PM
01/14/18 06:58 PM
Joined: Nov 2004
Posts: 14,202
Pikes Peak
J
JDR4Bama Offline OP
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JDR4Bama  Offline OP
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Pikes Peak
If it's bad enough I'll buy it outright. If not I'll buy a new one.

Re: Leasing a Vehicle [Re: JDR4Bama] #2372096
01/15/18 02:23 AM
01/15/18 02:23 AM
Joined: Dec 2013
Posts: 22,469
Lickskillet, AL
Irishguy Offline
a.k.a. Dingle Johnson
Irishguy  Offline
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Lickskillet, AL
The good thing is that since you're going with a Chevy that it will at least be under warrantee the whole time you're making payments on it.

Seriously... Go look at a Mazda CX-5. Best smaller SUV out there and super reliable. Mrs. Irish gets almost 30 mpg on her daily commute.

If you're dead set on a lease then look at the residual value of the car. It might be lower than you expect and then when the lease is over you can just buy it knowing that it's been well taken care of by you and you're getting a low mileage, good used vehicle.

Personally... I would never lease, but then again I don't like car payments. It is an investment in a depreciating asset.

Re: Leasing a Vehicle [Re: JDR4Bama] #2372113
01/15/18 03:00 AM
01/15/18 03:00 AM
Joined: Feb 2002
Posts: 44,211
North Alabama
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Wiley Coyote Offline
Freak of Nature
Wiley Coyote  Offline
Freak of Nature
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Posts: 44,211
North Alabama
Originally Posted By: JDR4Bama
I won't be in debt to a depreciating asset


You're right. Your money will be gone and you'll have nothing to show for it.


I firmly believe that a double gallows should be constructed on the East Lawn of The White House. Politicians who willfully and shamelessly violate their oath to uphold and defend the Constitution of the United States of America should be swiftly tried and, upon conviction, publicly hanged at sunup the day after conviction. If multiple convicts are to be hanged they can choose with whom to share the gallows or names shall be drawn from the hangman's hat to be hanged 2 at a time.




NRA Life Member
Re: Leasing a Vehicle [Re: JDR4Bama] #2372128
01/15/18 03:14 AM
01/15/18 03:14 AM
Joined: Oct 2000
Posts: 7,160
Lee County
R
RCHRR Offline
14 point
RCHRR  Offline
14 point
R
Joined: Oct 2000
Posts: 7,160
Lee County
Your wife is talking you into a lease. Don’t do it Terrible idea.

Re: Leasing a Vehicle [Re: JDR4Bama] #2372134
01/15/18 03:19 AM
01/15/18 03:19 AM
Joined: Nov 2014
Posts: 13,016
Montgomery, Alabama
jaredhunts Offline
Puts sugar in his cornbread!
jaredhunts  Offline
Puts sugar in his cornbread!
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Posts: 13,016
Montgomery, Alabama
What's the difference in the payment price for a lease as to purchasing new?


It be's that way sometimes.

www.sunpoolcompany.com
Re: Leasing a Vehicle [Re: JDR4Bama] #2372137
01/15/18 03:20 AM
01/15/18 03:20 AM
Joined: Oct 2003
Posts: 25,686
South Alabama
R
Rebelman Offline
Freak of Nature
Rebelman  Offline
Freak of Nature
R
Joined: Oct 2003
Posts: 25,686
South Alabama
Why would a dealer choose to lease a vehicle that he could sell and collect cash up front? Yep, you guessed it. Only if the NPV of a lease is greater than an NPV of a sale.

Re: Leasing a Vehicle [Re: Wiley Coyote] #2372168
01/15/18 03:55 AM
01/15/18 03:55 AM
Joined: Dec 2001
Posts: 13,839
AL
H
hunterbuck Offline
Booner
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Booner
H
Joined: Dec 2001
Posts: 13,839
AL
Originally Posted By: Wiley Coyote
Originally Posted By: JDR4Bama
I won't be in debt to a depreciating asset


You're right. Your money will be gone and you'll have nothing to show for it.


Exactly what I was going to post.

Better to have a depreciating asset at the end, rather than NO asset at the end.

Vehicles are a necessity....depreciating or not.


"You think I care? Roll Damn Tide"

Have you tried Google?
Re: Leasing a Vehicle [Re: JDR4Bama] #2372188
01/15/18 04:05 AM
01/15/18 04:05 AM
Joined: Oct 2003
Posts: 25,686
South Alabama
R
Rebelman Offline
Freak of Nature
Rebelman  Offline
Freak of Nature
R
Joined: Oct 2003
Posts: 25,686
South Alabama
If this was a math assignment you would buy a used vehicle.

Re: Leasing a Vehicle [Re: JDR4Bama] #2372193
01/15/18 04:08 AM
01/15/18 04:08 AM
Joined: Jun 2015
Posts: 13,971
Some Marriott/Auburn
A
AU7MM08 Offline
Booner
AU7MM08  Offline
Booner
A
Joined: Jun 2015
Posts: 13,971
Some Marriott/Auburn
I would look to purchase a used vehicle in the $15,000-25000 range.

Now is the time to buy a sedan, values are very low on sedans.

How many children do you have?

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