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Thread: Reasons for leasing, reasons for buying~ your next car or pickup.

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    Fortis Fortuna Adiuvat Omega Man's Avatar
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    Question Reasons for leasing, reasons for buying~ your next car or pickup.

    I have noticed that the car(truck) commercials are always showing the vehicles with "leased" pricing. Is leasing now the way most new vehicles end up in one's driveway?
    I have always been a fan of owning a vehicle or equipment but realize there has been a change, especially in the construction industry.

    Anyway, I was wondering if any of the Members have a preference or reason to "own" or "lease"- and what the upside or downside is to either theory?

    OM
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    Registered User 36654's Avatar
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    Quote Originally Posted by Omega Man View Post
    I have noticed that the car(truck) commercials are always showing the vehicles with "leased" pricing. Is leasing now the way most new vehicles end up in one's driveway?
    I have always been a fan of owning a vehicle or equipment but realize there has been a change, especially in the construction industry.

    Anyway, I was wondering if any of the Members have a preference or reason to "own" or "lease"- and what the upside or downside is to either theory?

    OM
    50%, or more, of BMW car sales are leases and have been since the late 1990's. It's just like a rental. You shop for the best deal and use what you need. Maintenance / repairs are now covered by the warranty and there's no long term concerns relative to when the electronic doodads and gee-gaws die. If you're a business the lease costs can be treated as an expense vs a depreciating asset. Speak with someone operating a small commercial construction or utility repair/installation company.

    Is it better to buy used? Yes. Does it make sense to lease used? It can. I've done it on a few 3-series. In the case of two of those cars I was glad not be a long term owner. One of them I purchased and still own.
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    Back in the Saddle mcmxcivrs's Avatar
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    We've never leased a vehicle, but we typically keep them for 5-10 years. We also don't often buy brand new as there are plenty of good one to two year old vehicles for much less cost that are virtually brand new and still have warranty. The major depreciation is all ready done on them so the cost is much less than new. Our most recent car purchase, a 2014 BMW 435xi, was actually a year old demo car with full 48 months warranty and only 3500 Kms on it when we found it. My 07 Toyota Tundra was the last new vehicle (motorcycles aside) that was purchased new, but I still have it and will keep driving for quite a few more years.

    Leases make sense for tax purposes or if you really want to have a new car every few years. Purchasing is better for long term ownership, especially if you do not need to finance the purchase.
    Ed Miller, Calgary, AB
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    I think the amount of miles you drive can decide whether leasing works for you or not. Living in the woods like I do I drive about 20k a year so leasing is not an option for me.
    As far as used vs new goes we have always bought used for my wife feeling we got a better deal letting the first owner take the depreciation.
    The last two trucks I bought I had to go with new. I looked at three year old trucks with 80k miles that weren't much less than a new one with a warranty.

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    Registered User 36654's Avatar
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    Quote Originally Posted by shakeybone View Post
    The last two trucks I bought I had to go with new. I looked at three year old trucks with 80k miles that weren't much less than a new one with a warranty.
    I spent most of a year looking for a used truck when I bought my last one. New and used cost the same. I guess the folks that need all the bells and whistles can find a value in the used truck prices, but for basic trucks, the price seems pretty steady.
    Cave contents: 16 R12RS, 13 Toyota Tacoma, 03 Simplicity Legacy, 97 Stihl FS75, Dewalt DW625 & SawStop PCS175

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    Advertising for cars and trucks lists the lease rates because they appear affordable at $279 a month compared to the payment on a $40,000 truck. Even if you did 0% for 72 months buying would be $555 a month.

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    Fortis Fortuna Adiuvat Omega Man's Avatar
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    Quote Originally Posted by BGKK75S View Post
    Advertising for cars and trucks lists the lease rates because they appear affordable at $279 a month compared to the payment on a $40,000 truck. Even if you did 0% for 72 months buying would be $555 a month.
    Yeah, they like to make it seem like the big Land Rover is a bargain (lease) at $750/month. I guess if they really mentioned the cost you would
    OM
    "Well they say.. time loves a hero but only time will tell.. If he's real, he's a legend from heaven If he ain't he was sent here from hell" Lowell George
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    The Euro brands now include oil changes because they found people would come in for the first one at $150 and then not come back until the lease was up. Then they resold them as Certified Pre owned with 100k warranties and started seeing engines fail at 70k. A quick oil change is cheaper for them in the long run.

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    Registered User 36654's Avatar
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    Quote Originally Posted by BGKK75S View Post
    Advertising for cars and trucks lists the lease rates because they appear affordable at $279 a month compared to the payment on a $40,000 truck. Even if you did 0% for 72 months buying would be $555 a month.
    Considering the price of the now ubiquitous 1/2-ton 4x4 crew is now over 50K, that monthly payment is close to $750 or $35.7 per working day.

    Doesn't leave a lot of room for the mortgage
    Cave contents: 16 R12RS, 13 Toyota Tacoma, 03 Simplicity Legacy, 97 Stihl FS75, Dewalt DW625 & SawStop PCS175

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    Quote Originally Posted by 36654 View Post
    Considering the price of the now ubiquitous 1/2-ton 4x4 crew is now over 50K, that monthly payment is close to $750 or $35.7 per working day.

    Doesn't leave a lot of room for the mortgage
    Nope, but the sure look cool in their F250 diesel Crew Cab jacked up 6". I look for the contractor with a 10 year old truck to do my jobs.

  11. #11
    Fortis Fortuna Adiuvat Omega Man's Avatar
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    Quote Originally Posted by BGKK75S View Post
    The Euro brands now include oil changes because they found people would come in for the first one at $150 and then not come back until the lease was up. Then they resold them as Certified Pre owned with 100k warranties and started seeing engines fail at 70k. A quick oil change is cheaper for them in the long run.
    Boy, that makes some sense
    OM
    "Well they say.. time loves a hero but only time will tell.. If he's real, he's a legend from heaven If he ain't he was sent here from hell" Lowell George
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    Registered User Rinty's Avatar
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    Quote Originally Posted by mcmxcivrs View Post
    . Our most recent car purchase, a 2014 BMW 435xi, was actually a year old demo car with full 48 months warranty and only 3500 Kms on it when we found it...
    I understand that there's great deals out there on pre owned BMW cars.

    As for leasing, being a Dutchman, I've always been an equity guy. But I think it's fine for business vehicles, particularly if corporate owned.

    I was surprised to read the comments above on used v. new truck prices.
    Rinty

    "When you don't know where you're going, any road will get you there."

  13. #13
    Registered User 36654's Avatar
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    Quote Originally Posted by Rinty View Post
    I was surprised to read the comments above on used v. new truck prices.
    You're more surprised when you're actually shopping....

    But, my very base (it had a radio) 91 Toyota 4x4 Delux was traded on the same day as my 1989 525i, and the pickup was worth $500 more. The truck had more miles and the paint was in pretty poor shape. The car was in very good shape, accounting for age.

    From what I've heard, my Pick-up was most likely shipped to Haiti or the Dominican Republic for resale......
    Cave contents: 16 R12RS, 13 Toyota Tacoma, 03 Simplicity Legacy, 97 Stihl FS75, Dewalt DW625 & SawStop PCS175

  14. #14
    We buy low mileage used but nice & always pay cash. No payments for us.
    Gail Thorne
    2014 G650GS

  15. #15
    If I planned on leasing I'd probably have to go see what long term deals I could get from Rent-A-Wreck.
    Paul Glaves - "Big Bend", Texas U.S.A
    "The greatest challenge to any thinker is stating the problem in a way that will allow a solution." - Bertrand Russell
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