I love how we are all telling someone who owes money on a 15 year old vehicle that it is dumb to lease. Jesus haha. He could have a brand new Silverado for probably less than that $250/mon. I want to lease a GMC short cab reg box 5.3 4x4 just to have as a 5th engine/wheel/tire movey thingy.
Renzo owns 8 cars and leases 2. He doesn’t write his 2 leases off and yet still has them. Is it dumber than buying multiple sports cars?
In conclusion. America.
Haha, yeah I know it’s like sounds stupid to owe money on a 15 year old vehicle. It was the body style I was attracted to between 02-06 but this was the only one local I could find. Which the fact it was local is actually my main problem, the winter/salt of wny hasn’t been too kind to it. I should have went down south and I’d probably not even be thinking of getting rid of it, although I am worried if the air suspension crapse out.
Speaking of my dumbness, I do have 2 summer cars, my escalade as a DD and a work van. So yeah I kind of have a car problem.
Now every vehicle I have owned has been older with mileage and wear. Now I’m doing a lot better financially (pay-wise) then ever before but I really would like to pay off my escalade, and save up at least 10k to put down on a nice new vehicle that I probably won’t drive much but in hopes it would stay nice and last me a very long time
The only thing smart about this would be the fact that the Toyota Tacoma has one of if not the best resale values of any new vehicles. So finally once I’m done paying it off it will still have value and still be nice with probably pretty low miles still. Let alone it should be very reliable.
If I did buy it, I’d probably want to do some light off roading with it which than the plan all goes downhill as I would be starting to do stupid things again lol
I am pretty far away from doing any of this at this time. But it’s kinda like I do finally want something nice.
Damn I fucked up I lease two cars
Anyone who says it’s stupid to lease, should probably take into account that 95% of all General/Sales/Finance managers in the business who drive a new car, lease. But what do we know? :gotme:
Myself and the wife both lease. Can’t complain at all.
I would also say similar stats to OEM employees, especially those that can stack up a bunch of incentives on to a 24mo lease. Granted Tacoma have minimal incentives based on what I have seen in PIN.
My sister just graduated and passed her board exams to become a pharmacist and she wants a convertible Evoque… ugh
To lease this vehicle would be around $720/month, to buy would be around $900.
I really hate the convertible Evoque, but I feel leasing a car like that wouldn’t be smart let alone buying one new. They depreciate so fast it really seems like burning money to me.
Maybe a regular base car leasing to me sounds ok.
Burn it with fire
Yeah I hate it lol
If they didn’t make the regular one first, I wouldn’t hate it as much. But since the regular hardtop looks so much better I just can’t like the vert.
Dude lease a GM ride. They have killer leases on Silverados and if you ask nicely I might know someone who can get you a friends and family discount.
If you don’t put on a ton of miles a lease is the way to go.
You can get a 2-3 year lease 12K miles a year on a more basic Silverado for ~$200 a month with maybe $1000 down. You can’t beat it and if you like it at the end, the buy out is literally purchased price minus what you paid from the lease.
I got my dad an ex cab silverado 5.3 4x4 LS base model for $1000 down and $115 a month or so last year. I bet even now you could get a work truck for $150 a month if you didn’t want all the bells and whistles.
Paddock is showing 239 a month for 3 years 10k a year. I’d up it to 12k a year because is super minor maybe $10 more a month. With a gm discount (pm me cough cough) and $500 down I bet you pay 200 or less a month for a brand new truck.
http://www.paddockchevrolet.com/Newspaper-Ad
Self preservation? Dealers like getting high on their own supply?
Please explain how paying the tax in full for a new vehicle, paying 3 years of depreciation and then turning it in below mileage/without damage (or paying more) is a sound strategy. Who comes out in the end with the equity in a lease?
Some leases you can’t beat. Look at the Silverados or Equinox right now. A silverado you can get $239 3 years 10k miles a year. That is $8,604 to drive a ~$40K truck for 3 years. The cost per mile is about $0.29. The lease includes oil changes normally, so you literally put nothing in the car.
Lets say you buy a used beater for ~$8,000. Over 3 years you need to buy $800 in tires, $250 in oil changes, $400 in brakes and lets say $450 in misc other maintenance. So now you have 10K into a car that is worth $2K in 3 years. That is $8K in loss to drive the same 30K miles in 3 years. I don’t know about you, but I’d splurge and spend the extra $1000> to drive the new $40K truck.
$8,640 in monthly payments, yes. What are your up front costs? What about the fact that many leases require something down (varies of course)? You’ll also need to pay $3-4k in taxes up front on that $40k truck. They’ll convince you to take the wheel/tire protection, those wheels aren’t cheap and you probably should. Unless you plan on re-upping with a fresh lease at the end you’ll also be paying them to assess the vehicle at turn in as well ($500ish).
The people I see pro lease either need the industry to move units or have enough money where none of the above matters.
It’s actually funny because this is my exact situation I am in.
I bought my truck for 10k, I owned it 4 years and put literally maybe 20k miles on it in that time. Now it’s worth on a good day 3k to a dealership if they’re trying to make a deal.
I had to do all 4 brakes lines, tires, an alternator, steering box. So that’s probably $1,500 into repairs, most costly thinG was the brake lines because it was middle of winter and I wasn’t gonna do it on my back in my drive way.
Well said. I leased a 16 Silverado LT all star and the wife has a 16 equinox LT leased. For the price I ended up getting the truck for “low 30’s” it was a great way to get into a 42k truck for very little. Wife actually pays more for her equinox than I do the truck
These leases are $0 down, so you only have a monthly payment. If you pay for all the extras that is on you, I don’t and there is no reason to. Lease turn in varies from manufacture to manufacture but can range from $250-500. This is a real cost that should be taken into account. You DO NOT need to have a lot of money to lease.
I got my aunt in Cali a brand new Chevy Cruze, 39 month lease, $0 down, $250 turn in 10K miles a year for $78 a month. You absolutely can not beat that. Bran new car, 32,500 miles for $3300 TOTAL!!! Killer deal, plus it gets 40+ mpg and you never need to worry about it.
Bingo, you could have been driving a brand new silverado for the same costs and have zero worries or issues.
Awesome!! They are offering really great deals on Silverados and the Equinox now that the new model update has been released.
We got a nicely loaded one with heated seats for $135 a month. The 4 cylinder isn’t crazy fast but its super reliable and gets really great MPG, my wife has actually got a best of 37.5mpg over 500 miles. I think we average low 30’s normally.
My payments are not quite that low. But did get a deal on the Silverado from my buddy who works at the Tonowonda plant.
Yeah a lot depends on the dealer you work with. Some dealers want to make more off each sale verse making less on each sale and a high volume. Best thing to do is shop around. Find the vehicle you want and email 2-3 local dealers and have them give you the best deal. Pit them against each other and take the best deal. Its your money, the difference from dealer to dealer is fairly null and all will honor the warranty.
I know y’all are in Buffalo, but this is the dealer I use in Detroit. Great group to work with and will get you what you want for the rock bottom price. You can’t lease out of state, but you can buy out of state if you’re looking to buy.
Ok, now that’s a pretty insane deal right there.
