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.

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.

The rule is that leasing is a bad deal, there are exceptions to just about every rule though.

Don’t do it

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.

If you got 5K, just find something and buy it outright.... my .02

I’m not gonna deal with a used vehicle - not for the family.

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

It’s between buying new or leasing. Leaning toward leasing for 3 years, then buying either that vehicle or a new one for cash.

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

If it's bad enough I'll buy it outright. If not I'll buy a new one.

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.

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

Your wife is talking you into a lease. Don’t do it Terrible idea.

What's the difference in the payment price for a lease as to purchasing new?

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.

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.

If this was a math assignment you would buy a used vehicle.

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?