I have leased several vehicles over the years. We just got a Jeep Wrangler 2 weeks ago on a 39 month lease. We. turned in a 2010 Wrangler that was also on a 39 month lease, 5 months early. We had about 1500 in equity in the old jeep and just put it into the new vehicle to get lower payments. My wife drives about 12k a year and leasing works out great for us.
Vehicle Leasing
- Thread starter deerefan
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ericher69
Veteran Member
Not so!
Leased a 2006 f150 super crew FX4 Dark Charcoal clear coat metallic.
Negotiated price then...
Said I don't need the drop in bed liner (deducted $400) and then worked in a color matched spray in liner.
Drove it 3 years (government reduced GST goods services tax - 2%) monthly payments reduced; nice!
A few weeks before guy came by took pictures in/out found 1 small ding in the door and 2 weeks later I returned it and walked away.
Oh like Diamond Pilot my 5.4 was a pig on gas and the gas price did increase substantially over the lease so I could just walk away where others could not give their trucks away!
Would I do it again? Not unless I had other income than my job paying for the payments.
I had made the decision at the time; I wanted a brand new vehicle before starting our family and leasing was the way to do this. My other option was to wait till retirement.
The same truck financed for 5 years was $300+ a month extra for 2 more years than I leased at.
A coworker also leased but did all recommended service (1 to 7) from Ford and spent big $$.
I on the other hand read the fine print and asked questions (engine oil change and filter) all done at Ford dealership was all that was needed not to void warranty!
Service 7; Tranny flush, diffs, transfer case oil change was 7-$800!!
I now drive a 2006 GMC Sierra 4x4 ext cab that I paid cash for and much rather not having payments as large as some mortgages.
Depends what you need and at what point you are in your life.
I do not regret my decision to lease and will not discourage others from doing.
Have you looked into auctions? You can get great deals on vehicles just a few years old
aczlan
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In the US, maintenance (such as oil changes) cannot be mandated to be done at a dealership as a condition of the warranty, but if (for example) you have an oil related failure, they can require proof that the oil changes were done.
Aaron Z
as the replies show, there are two distinctly different types of people here. for one of those types, there could be no consideration of leasing, because their replies all talk about buying a slightly used vehicle instead. the other type of people recognize the want for something new every few years, without the care of ever owning it. neither is correct. one of the beauties of our society is the ability to choose, so there's no perfect answer.
however, if you are of the type that wants the new vehicle every few years, diamondpilot noted one thing about leases - some vehicles lease better than others. years back i considered a lease on a european car. the company had a promotional offer of $299 on a nice model with all the comfort features. being younger, i wanted the more performance oriented model. configured the way i wanted it, the vehicle was several thousand dollars cheaper than the model they had the great promotion on, but the lease was nearly $100 more. the buyout at the end was different, as the residual values were not the same, but i was just interested in leasing and hopping into another one after that one was finished. for the model i wanted, a walk away lease was not the best deal.
however, if you are of the type that wants the new vehicle every few years, diamondpilot noted one thing about leases - some vehicles lease better than others. years back i considered a lease on a european car. the company had a promotional offer of $299 on a nice model with all the comfort features. being younger, i wanted the more performance oriented model. configured the way i wanted it, the vehicle was several thousand dollars cheaper than the model they had the great promotion on, but the lease was nearly $100 more. the buyout at the end was different, as the residual values were not the same, but i was just interested in leasing and hopping into another one after that one was finished. for the model i wanted, a walk away lease was not the best deal.
ericher69
Veteran Member
Aaron;
Same here in Canada!
I only chose to have my engine oil changes done at the dealership to alleviate any issues with misplaced "receipts" for oil changes and such. Good point!
aczlan
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It makes it easier to deal with them when you can say "you guys have done all the work on it since new" in many cases.
Aaron Z
