Buying vs leasing

First of all, Congrats Keith!

Do you just want to drive it and give it back afterwards or own it once you're done paying. *Reread your statement, so buy it

It's basically renting vs buying, and if you lease it, gotta return it back to stock.

Imo, if you built it, buy it. Leasing is for the climbing the ladder yuppie who wants a generic german sedan or someone who can't afford a car payment but can afford the $(1)99 a month Elantra or Impreza

If you plan on keeping it buy it. Leasing only makes sense for commercial applications where there would be a tax benefit. Good financial experts refer to leasing as fleecing for a reason. My personal opinion of course.

lapazleo

If you plan on keeping it buy it. Leasing only makes sense for commercial applications where there would be a tax benefit. Good financial experts refer to leasing as fleecing for a reason. My personal opinion of course.

Yep...what he said...never did understand why folks lease a vehicle and then pay for extra miles to drive it. There are many, many articles that show how a lease is a bad way to go.

Because sometimes its still cheaper to lease than buy one.

jamtra

Because sometimes its still cheaper to lease than buy one.

If you are only going to keep it for 2 yrs. maybe....but you would have to how me your numbers. We looked into 5 leases and not one of them were cheaper then a purchase. If you are taking out a loan and that's the logic...again maybe. The other issue with a lease you have to start over, and over, and over. Like renting, nothing to show for your money spent. So is it cheaper....no.

MIGeezer

If you are only going to keep it for 2 yrs. maybe....but you would have to how me your numbers. We looked into 5 leases and not one of them were cheaper then a purchase. If you are taking out a loan and that's the logic...again maybe. The other issue with a lease you have to start over, and over, and over. Like renting, nothing to show for your money spent. So is it cheaper....no.

Unless you have a lot of money to put down for buying, a lease payment is (was) a lot cheaper for me. Plus I would get a new truck every 3 years.

jamtra

Unless you have a lot of money to put down for buying, a lease payment is (was) a lot cheaper for me. Plus I would get a new truck every 3 years.

And keep paying, and paying, and paying. If you started with a cheaper truck and put the money in the bank you can pay cash at some point, which you can then repeat the process, over and over. Can still afford to buy new trucks, but not pay all the interest.

I know. I understand that. But I didn't want a cheaper truck. I enjoy new. I pay cash for my kids cars and I will put down a lot for the bronco as well.

Also with interest rate as low as they are right now it is cheap to borrow money. We have had our suburban paid off for 8 years now and we haven’t had to sink a whole lot into it In that time, just stupid air shock every 2-3 years Ugh!
that $700 bucks a month we have been putting in our pocked for 8 years really adds up. If we were leasing we would still be paying 500-600 a month with no end in site. And as the price of the vehicle goes up so does the lease price.

Jakob1972

Also with interest rate as low as they are right now it is cheap to borrow money. We have had our suburban paid off for 8 years now and we haven’t had to sink a whole lot into it In that time, just stupid air shock every 2-3 years Ugh!
that $700 bucks a month we have been putting in our pocked for 8 years really adds up. If we were leasing we would still be paying 500-600 a month with no end in site. And as the price of the vehicle goes up so does the lease price.

What air shocks are you using? My last burb was a 1995 GMC. I had it for 22 years. I had AirLift bags on it for 20 years, not one issue. I towed a 22 ft Sea Ray and then a 25 ft Sea Ray, as well as my enclosed trailer, oh ya and my Dad's 1938 John Deere Model B. I understand the payments adding up. My payment would have been $265. I put that in the bank for 22 years.

If you do alot of driving stay away from a lease. If you go over the amount it could cost you an arm and a leg.

Mandogus

If you do alot of driving stay away from a lease. If you go over the amount it could cost you an arm and a leg.

Sometimes both legs!!

MIGeezer

What air shocks are you using? My last burb was a 1995 GMC. I had it for 22 years. I had AirLift bags on it for 20 years, not one issue. I towed a 22 ft Sea Ray and then a 25 ft Sea Ray, as well as my enclosed trailer, oh ya and my Dad's 1938 John Deere Model B. I understand the payments adding up. My payment would have been $265. I put that in the bank for 22 years.

They don’t make an airbag for the LTZ suspension they have smaller springs than the regular Burbans have a little large spring so you can add bags to that. I did try to stuff the airlift bags for the regular bun but one blew out pulling our 30’ TT. So I have to use the crappy Arnot shocks they make the shocks for RR, Mercedes, Cadillac Chevy and a few others. It an 09 and I have had to replace those things at least 4 times. At about 2500 a set ain’t cheap. I’ve tried other air shocks but they are a little too stiff. I will never own a vehicle with air shocks for more than 4-5 years. Not worth it.

Buy it. No lease unless its a company car you don't plan keeping more than 3yrs (or an employee car). When buying, you dont have to put money down vs leasing there is money due at signing. If you buy, you can do whatever you want, drive wherever you want (no distance restrictions) and you can sell it whenever you want to whoever you want + keep your equity.

Ps-if worried about ADM. Once you have your vin AND your bronco is in transit to your dealer...you can go ahead with lender purchase. This locks in your price bc lender now owns it, not the dealer + payments wont start for 45 days after you sign loan docs. Just look it over good before driving it off lot, if you notice anything wrong have dealer fix it under warranty or out of their pocket.

NT AUTOMOTIVE

Ps-if worried about ADM. Once you have your vin AND your bronco is in transit to your dealer...you can go ahead with lender purchase. This locks in your price bc lender now owns it, not the dealer + payments wont start for 45 days after you sign loan docs. Just look it over good before driving it off lot, if you notice anything wrong have dealer fix it under warranty or out of their pocket.

You serious Clark? Will that really work?

Jakob1972

You serious Clark? Will that really work?

Yes. I did it with my F150 Raptor I custom ordered 10yrs ago.

Talked with someone who is in a similar position to me. Bronco is the first vehicle I have ever leased, have the first model year jitters. The last time she turned hers in ( August ) they paid her thousands to "buy" her lease instead of her buying out the lease. Granted, strange times right now. At the end of the day, it is not a whole lot different than buying. You can buy out the lease at any time. I went 39 months, figured a few months before the lease is up, I'll know whether I want to keep it or not. At that time, I'll also get the extended warranty if I choose to keep it. My situation, lots to consider...

jamtra

Unless you have a lot of money to put down for buying, a lease payment is (was) a lot cheaper for me. Plus I would get a new truck every 3 years.

Never ending payments.

I was told by my dealer I could not lease the bronco ??? Anyone been told that. I lease. Due to I like new cars I don’t want to worry about it braking down or being upside down when I trade it in. I work from home and not worried at all about going over miles. I just traded in my lease explorer 26 months and made almost 6k.