Lease or Buy?

[xtraman122]

Just asking this out of morbid curiosity. I know a few people who have leased, but I’ve always been a purchase person. I get vehicles fairly frequently (Every 3-4 years) but have always made out pretty well on trades/deals. Leasing always seemed pretty pricy to me for not having any equity at the end.

Just interested to see what everyone is doing with their 21s and how popular each option is.

Sponsored

 

[Merccat]

If I got new vehicles every 3-4 years I might look at leasing? Probably still wouldn’t but I would at least learn more about it.

I tend to keep my vehicles 7-10 years with the last 5-6 having no payment so leasing wouldn’t work for that.

EV’s might make since to lease since they have a shorter useful lifespan before the battery will need replacement.

For my ‘21 on order, replacing a 2011 vehicle I have had since 2013, free and clear since 2016. Hope to have the ‘21 free and clear by 2024 at the latest.... then will buy the 2030 lightning.

 

[mwf5888]

I have leased my 2021, 2018, 2015, 2013, 2011, 2008, 2005, and 2002 F150s. I like the idea of only having to plan for the payment and insurance. I still trade or sell my previous F150 when I get a new lease. In two situations the previous was below the payoff so I waited a few months and just turned it in and got a new lease.

I also get a Lariat 502a or King Ranch 601a with lots of package so I can get more truck for lower payment. I also never put money down.

 

[cghall77]

I put 35-40k km's on a year, leasing isn't even an option. ?

 

[xtraman122]

I put 35-40k km's on a year, leasing isn't even an option. ?

That used to be my main reason for not being able to lease as well, but with a new job I think I’ll be doing a lot less driving, we’ll see after a non-pandemic year how things level out.
On my last truck (2015 F-150), I averaged just over 22k miles per year for 4.5 years on it.

 

[Merccat]

That used to be my main reason for not being able to lease as well, but with a new job I think I’ll be doing a lot less driving, we’ll see after a non-pandemic year how things level out.
On my last truck (2015 F-150), I averaged just over 22k miles per year for 4.5 years on it.

That’s pretty close to my average as well... I have never had any modern vehicle require anything more than oil and fluid changes through 200,000 miles (maintain myself changing at a more frequent interval) which would average 22k/year.

My commute isn’t very long but we have family in all directions on average about 250 miles away so that puts on miles.

Sponsored