Quote:
Originally Posted by amheck
thanks for the continued thoughts everyone.
Yeah, lots of choices and yes, I also agree, it would make sense to lease something I'd not feel comfortable buying for long term like the Land Rover or Jeep or maybe even the Durango. That way, you're out in 3 years and wipe your hands clean.
Although this leasing stuff isn't quite as cheap as I thought. For one of my first vehicles that I ever got on my own back over 20 yeas ago, I leased a Grand Cherokee and I remember that being stupid cheap.
I just sent out some emails for lease rates on a ~$35K VW Atlas and numbers were coming back $500+ month with a grand or two down. I was really surprised. I was thinking like $350-ish.
But like someone else mentioned, yeah, I guess if the vehicle has a high initial depreciation, you're paying for all of that I think.
Not that I wouldn't be happy with another 4Runner right now, I was just thinking it'd be nice to mix it up for a couple years. But not a necessity. My v8 Limited has been great fun to drive and seems to still have some get up and go.
|
Your thoughts are pretty much on point, Cars that have poor residual value you are getting nabbed for the high deprecation during the lease.
I had a family member who just got off a 4Runner lease and after it was all said and done said, it was a mistake to lease it because the resale / residual valve is so good. For vehicles like this, you are a lot better off buying. They ended up getting another, buy bought it this time around.
Leasing does make sense in some scenarios where the cars have poor reliability, or if you are a 1099 where you can write off the lease payments against your taxable income. Personally that’s about the only time I would consider a lease.
