Buying vs leasing

acanterbury12

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.

My dealer said... Drink!!!

I leased for reasons stated above. Contact FoMoCo credit and get pre approved for a lease once you have a VIN... End run around a lying dealer, which makes me wonder what else he's going to try to pull...

I be calling ford on this one…. Mine is in production this week and I have a vin and window sticker . Thanks

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.

I love seeing people say “Ill do 10k a year”, like sure ya will.

One friend commutes at least of 70 miles a day (to/from work), then to the gym every day and is always prowling, so hes in NY every weekend.
He also tries to find a way to roll back the mileage, and hasnt been caught (yet).

My other friend bought a Ridgeline, and despite owning it for almost a year, brags how she had whats probably 4k miles by now, he works from home. Hes more ideal for a lease, isnt it ironic?

Well I have a new f 150 we use for trips I work at home and mostly stay with in a 10 miles of my house …so yep sure will be doing under 10 k

acanterbury12

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.

There are residual values for the Bronco. So obviously you can lease.

2022 Ford Bronco Everglades, Raptor Residuals Revealed

It currently does not make sense to lease a car......

Blitzjb

It currently does not make sense to lease a car......

parents logic, newer model with better features every 3yrs

Then again, pay it off and just mod it, retrofit a better headunit, Upgrayedd the dated parts with oem+, so many ways to go about this, no need to keep the payments going

The average American has a car payment for most of their life. That could be a lease or loan payment. At $600 a month, that comes to $1.2 million over 40 years. Not adjusted for the rising cost of the monthly payment every 3 to 5 years. Does assume a 6% rate of return. So that $45,000 car is really $1.2 million if you keep recycling them.

There are two things that inhibit wealth creation: TRADING CARS and TRADING WOMEN.

Steeler4life

So after talking to my ford dealers I think I’m getting close to my build date . With that being said I need to start looking into the buying process . I would have never thought about leeasing a vehicle but I heard it is a better way Togo now a days with the crazy car market . I’m planning on keeping it . What are your thoughts?

I've leased cars for my wife for years as she always likes something new and it makes sense for her. (I think she thinks she leased me and is ready for a new model). If you're using your Bronco as mall crawler then it makes sense to lease, but if you're using it off road make sure and read the fine print on your lease as it is likely you'll be paying for every mark and ding you're acquired using it as intended. Lease ends are much tougher today than in the past and the end of lease costs can be outrageous.

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.

This makes no sense...if the dealer is going to charge you ADM, they'll add it no matter if the vehicle is on the lot or on a transport.

However, there are some that won't listen or agree with what I'm saying so, a couple of things to keep in mind though if you do this...once you sign the papers, it's yours not the dealers--it's likely your insurance now covers the vehicle while it's in transit--your insurance may not cover it if something happens on the transport--let alone the dealer fixing something (you and your lender own it--not the dealer, it's not up to them to fix it now) since you technically haven't taken delivery yet. You are now being charged interest on your loan--every day in transport, that total balance due is ticking up while you're not driving it. Some states only allow for 30days from you signing to register and plate your vehicle--what if it's delayed in transport, you're paying for plates and registration on a vehicle you don't have yet. Additionally, some finance companies will start your payments 30 days from signing--not 45.

Speed Devil

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

i wish there was an eye roll response on here. All kinds of people from all kinds of financial backgrounds lease vehicles. With many working from home, and not driving so far, it makes sense for them. Do what makes sense for you, and if it's purchasing then that's what is your plan is. Same as leasing. Your opinion is your opinion. But that one there generates an eye roll from me.

jlaliberty

i wish there was an eye roll response on here. All kinds of people from all kinds of financial backgrounds lease vehicles. With many working from home, and not driving so far, it makes sense for them. Do what makes sense for you, and if it's purchasing then that's what is your plan is. Same as leasing. Your opinion is your opinion. But that one there generates an eye roll from me.

I used to live in a town full of leased germans, where my family would to get a new car every 3 years and knew people who’d roll their miles back as they went way over

Where Im from, youre driving everywhere, so leasing doesn’t make sense, hence why I view it as a waste, especially when now, they can track your mileage online, so trying to be cheap with 10k a year will wind up biting you in the ass

obviously ymmv, but talking from what Ive seen around my neck of the woods, thats just how it seems.

as I said, one friend is planning on leasing when he drives a min of 70 miles a day and is always dating cougars in the city, another has his 10 month old Ridgeline with less miles than my almost 4mo Bronco (7k mine vs 3800) and bought it, which to me is ironic

Speed Devil

I used to live in a town full of leased germans, where my family had to get a new cat every 3 years and knew people who’d roll their miles back as they went way over

Where Im from, youre driving everywhere, so leasing doesn’t make sense, hence why I view it as a waste, especially when now, they can track your mileage online, so trying to be cheap with 10k a year will wind up biting you in the ass

obviously ymmv, but talking from what Ive seen around my neck of the woods, thats just how it seems.

as I said, one friend is planning on leasing when he drives a min of 70 miles a day and is always dating cougars in the city, another has his 10 month old Ridgeline with less miles than my almost 4mo Bronco (7k mine vs 3800) and bought it, which to me is ironic

i've leased once. ONCE. That was enough. I totally destroyed my mile limit. It was not for me. May work for others, but that's them. I prefer to not judge what types of people lease vs finance.

Garemlin

There are residual values for the Bronco. So obviously you can lease.

2022 Ford Bronco Everglades, Raptor Residuals Revealed

Wow... with those residual numbers it makes no sense to lease a Bronco in the current market environment. Unless... I guess... you can't afford a car loan payment. But if you can't afford the car loan payment you probably shouldn't be leasing that vehicle either.

jlaliberty

i've leased once. ONCE. That was enough. I totally destroyed my mile limit. It was not for me. May work for others, but that's them. I prefer to not judge what types of people lease vs finance.

End of the day, its someones call, sometimes the cheap lease as someone gets a footing in the world without having to deal with needed repairs for a similarly cheap car

That and my cousin who built a st2/3 e90 335xi had to revert his car to stock when the lease was up

I don't care about anyone's opinion on leasing. I have leased my last three vehicles and it worked out great for me. I like a low monthly payment. Not going to be car poor with an $800 note. I traded in the last two before the lease was up with zero loss. The money I spent on lease payments was the equivalent of what a big down payment would have been. Which is money out the window too. My current Gladiator I leased because I knew I would be getting the Bronco. Not sure what my plans for the Bronco are. I still have time to worry about it.

Speed Devil

I love seeing people say “Ill do 10k a year”, like sure ya will.

One friend commutes at least of 70 miles a day (to/from work), then to the gym every day and is always prowling, so hes in NY every weekend.
He also tries to find a way to roll back the mileage, and hasnt been caught (yet).

My other friend bought a Ridgeline, and despite owning it for almost a year, brags how she had whats probably 4k miles by now, he works from home. Hes more ideal for a lease, isnt it ironic?

Yep, my buddy's girlfriend leased a Lexus a few years back, she was like your first friend (commuting XXX miles all over the place). When her lease was up, she was well over the 10 or 15k per yr allowance - I think she ended up writing like a $2k check to get out of her lease, then had zero to show for it.

I'm like your Ridgeline friend, I too literally only put 4k a year on my vehicles (work from home/ no social life lol!), but I chose to buy my Bronco - 1) because I'm heavily modifying it, and 2) I had enough to put down to make the payment affordable + 2.49% interest rate.

LilMike73

Yep, my buddy's girlfriend leased a Lexus a few years back, she was like your first friend (commuting XXX miles all over the place). When her lease was up, she was well over the 10 or 15k per yr allowance - I think she ended up writing like a $2k check to get out of her lease, then had zero to show for it.

I'm like your Ridgeline friend, I too literally only put 4k a year on my vehicles (work from home/ no social life lol!), but I chose to buy my Bronco - 1) because I'm heavily modifying it, and 2) I had enough to put down to make the payment affordable + 2.49% interest rate.

And then there are people who wait til the very last minute, NEVER test drive anything and either get the next model or buy out their lease

whats better than modding, just gotta see if I got the tools to do the fogs myself

Leasing a vehicle is rarely a 'good' financial decision. However, not all buying decisions we make are purely about economics. We cannot consider the current market as a guide for leasing a vehicle. You could have arranged a leased a couple years ago and based on predetermined final price/residuals be able to buy the vehicle for less than you can sell it for. But the current market is not going to last and not worth planning around.
Like all things this is a personal choice, if you like a new vehicle every couple years and you like vehicles that you would not otherwise be able to afford then a lease is for you.
Many people like to argue that leasing high end vehicles is a good idea due to depreciation, but even with depreciation it is rarely a 'good' financial decision.
Beyond the fact that I just prefer to own, I don't like the leasing mileage restriction, etc.
Since off the bat you plan to keep the vehicle a lease is a bad idea financially speaking.

Hey there! Exciting times ahead with your Ford build! 🚗 Leasing can be a great option, especially in today's unpredictable car market. It offers flexibility and lower monthly payments. If you plan on keeping the car long-term, consider checking the lease-end buyout terms. To navigate the buying process smoothly, seeking advice from a Mortgage Broker in Wolverhampton might be beneficial. They could offer insights and help you make an informed decision. Whatever you choose, wishing you a fantastic car ownership experience! Happy driving! 🌟🚙