Purchase or Lease?

[sickk23]

I would never lease any of these SUVs. I don't get why people do. 2 reasons. Horrible residuals. Second being, these SUVs rack the miles up because they do far more than cars do. Idk how many times I've looked at these used and 1 year old they have 50k miles.

You don't save any money leasing when you're getting something with horrid residuals. Lexus and toyota is where it's mega cheap to lease... They hardly depreciate.


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[showtime1k]

1or2year wait these will be around 40k or less. Biggest drop is 1-2 years then depreciation kinda settles . Bought my first Denali new with gm discount at 37k. Moro was 48k. After 2years my car was worth close to what I paid for it with discount. If I can't get that kinda deal, I'll wait

 

[Lade]

I would never lease any of these SUVs. I don't get why people do. 2 reasons. Horrible residuals. Second being, these SUVs rack the miles up because they do far more than cars do. Idk how many times I've looked at these used and 1 year old they have 50k miles.

You don't save any money leasing when you're getting something with horrid residuals. Lexus and toyota is where it's mega cheap to lease... They hardly depreciate.


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Horrible residual ?!!!!

62 percent residual
15k mile a year 36 months.
I don't think that's a bad residual at all.

 

[Sho'Tyme]

That's a greats point phil

 

[b4z]

I would never lease any of these SUVs. I don't get why people do. 2 reasons. Horrible residuals. Second being, these SUVs rack the miles up because they do far more than cars do. Idk how many times I've looked at these used and 1 year old they have 50k miles.

You don't save any money leasing when you're getting something with horrid residuals. Lexus and toyota is where it's mega cheap to lease... They hardly depreciate.


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I don't agree GM almost always has good lease deals and they often Subvent their leases, in the trucks not so much because the residuals are good.

 

[PokerMunkee]

Horrible residual ?!!!!

62 percent residual
15k mile a year 36 months.
I don't think that's a bad residual at all.

If this is true, then this is a great vehicle to lease.

Using 3% money factor for an example, I show a $65K Tahoe with 62% residual for 36 months is a payment of $730.65 with $0 down. Negotiated price $62K. Tax not included.

Financing $62K at 3% for 6 years is $942/month. Tax not included.

Taxes on a lease are half as much usually, since you pay tax on your monthly payment and not on the entire $62K.

If you trade in every 5 years or so, usually works best to lease.

When my car needs new tires, I lease a new one

 

[Gatorlac]

same here I only buy it if I can pay in full and still have a few grand set aside for repairs. I sold cars for a few years and I learned NEVER buy new unless you're ballin. Leasing has its place but its not right for most people.

My income can vary greatly so that's why I pay cash, its awesome never having a car note tho LOL plus insurance is waaay cheaper when you don't owe anything

 

[sickk23]

Horrible residual ?!!!!



62 percent residual

15k mile a year 36 months.

I don't think that's a bad residual at all.

For the 2015 right? The 2014s were not that great.


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[twhitechurch]

The residual on these are amazing. 60% for 15k miles a year is a great deal. Lease is essentially financing the depreciation of the vehicle. If you can drop 65k on a car and then sell it in 3 years you will probably be getting 35 for it. You will only save 2 grand out of the whole thing. That's why I see leasing as advantageous.

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[George C]

Based on average car payments vs. investing those payments, you can retire 5 years sooner if you buy a new car every 10 years or a used car every 5 years, compared to someone who buys a new car every 4-5 years.
I lease because I like to have new cars every 3 years and am self employed so I write off most of the mileage.

You can write off mileage on a purchased car the same way...
Lease or buy, the write offs are exactly the same.

I always buy, and I don't finance. I want to be in control of when I want to trade, and I don't want to waste money on non writable interest.