Lease vs Finance for vehicles, school me.

[ExtraSlow]

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Buy a used truck that is $25,000.

This is reasonable advice, although the half ton truck market is so distorted by all the exports that $25k gets something 10 years old or something with shockingly high mileage.

Trust me, I love the value proposition of used vehicles. But not this time.

[speedog]

So for all the info posted in this thread for the benefit of @ExtraSlow - all I'm thinking is things are clear as mud and twice as thick.

[ExtraSlow]

I learned a few things. Not sure it changed anything, but hey, knowledge is power, or something. Besides, sometimes it helps to talk through a decision with your trusted advisors.

[speedog]

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This is reasonable advice, although the half ton truck market is so distorted by all the exports that $25k gets something 10 years old or something with shockingly high mileage.

Trust me, I love the value proposition of used vehicles. But not this time.

Know where you're at, luckily I wasn't in the same market as you what with a family and needing to tow a trailer but even at that I had to go over an hour outside of the city to find a replacement for my work vehicle and I most definitely couldn't wait a few days pondering a decision as anything decent disappeared in less than 24 hours. Sucks though that you'll most likely take some of a financial hit in going new

[ExtraSlow]

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Know where you're at, luckily I wasn't in the same market as you what with a family and needing to tow a trailer but even at that I had to go over an hour outside of the city to find a replacement for my work vehicle and I most definitely couldn't wait a few days pondering a decision as anything decent disappeared in less than 24 hours. Sucks though that you'll most likely take some of a financial hit in going new

Well, you mentioned three years ago when I bought my current truck that I seem to spend a lot of money. Maybe I'm rich? Like secretly baller? Who knows.

[The_Rural_Juror]

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This is reasonable advice, although the half ton truck market is so distorted by all the exports that $25k gets something 10 years old or something with shockingly high mileage.

Trust me, I love the value proposition of used vehicles. But not this time.

Don't let anyone get all up in your bidness.

[ExtraSlow]

I'm just taking all this input at face value. I don't want to be throwing at all away.

[The_Rural_Juror]

Take the $25k and put it in a prudent, non-volatile, study stock like TSLA. Then buy a Cybertruck in a year.
Family can camp by bow river for free.

Lowest depreciation.

[ercchry]

He already missed the dip though...

[The_Rural_Juror]

It's a bargain at 446. Wasn't it 2500 a week ago?

[The Cosworth]

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GF made leasing worthwhile within 6 months of ownership... sideswiped a 5 ton truck, ~$20k repair now on carfax report... way too much of a headache to try and sell that for a decent price, hell... even trade in value would be shit

This is actually one reason why I might lease the next couple. Quality has seemed like such a crap-shoot with new cars that I don't trust to spend $50-$60k on a vehicle that I am stuck with that is a lemon like my F150. If I can lease it for 2 years, then love it and buy it and it costs me an extra $1k or something. I feel the peace of mind is worth it.

[ercchry]

I’ve decided basically anything somewhat enjoyable to be in costs ~$500/month on average... be it repairs, depreciation, payments, mods... whatever... my long term cost analysis is roughly $500/month... large sample of ~30+ vehicles at this point (new and used) there are outliners of course (M3 and Jeep Rubicon), but this is what I have come to terms with.

The simplest, best use of $500/month is hands down a lease... gets ya a nice comfortable $50k+ new vehicle under warranty in perpetuity. I’m done with used unless it’s a weekend toy

[The_Rural_Juror]

$500/month buys a lot of beers.

[ercchry]

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$500/month buys a lot of beers.

Not a lot of scotch though... or wine even... damn. Maybe I need to buy more TSLA instead

[The_Rural_Juror]

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Not a lot of scotch though... or wine even... damn. Maybe I need to buy more TSLA instead

"more"? Yous a baller.

[ercchry]

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"more"?

Any...

I just can’t bring myself to do it haha

[The_Rural_Juror]

@ExtraSlow bought a bunch and is a secret baller confirmed. He's just messing with you guys. The guy is getting a RaptorHawk and paying for it in gold bars.

[Aleks]

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Wut? At the end of 5 years, or even 7 years, there should be some equity in the car if you financed. That should lower your payment on the next car if all things are equal. Not only that, but you can choose not to get a new car. With a lease, you have no choice if you don’t have the cash for the buyout.

The biggest morons are the ones that lease for 5 years. That’s basically renting a car beyond your means.

If you don't have the cash for a buyout at end of lease, you shouldn't be leasing in the first place. If someone doesn't have the means to buyout their lease at the end, financing it to start with is a bad idea too.

5 year leases can make sense in some cases, if you know WTF you're doing.

[Buster]

I'm thinking of leasing my next fun car. Anyone know where people go for 3rd party leasing? Canadians don't have the equivalent of Penfed or similar in the US...sucks.

[The_Rural_Juror]

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If you don't have the cash for a buyout at end of lease, you shouldn't be leasing in the first place.

So judgey and total lack of YOLO.

- - - Updated - - -

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I'm thinking of leasing my next fun car. Anyone know where people go for 3rd party leasing? Canadians don't have the equivalent of Penfed or similar in the US...sucks.

Isn't Car2Go like 3rd party leasing?