leaseing a tow vehicle?
Did a quick check and i dont remember reading anything about it recently,but i was just wondering is it it possible to lease a hd truck for towing?not talking about any brand directly but a 1 ton tru...
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Mtwoodson wrote:
I was wondering about leasing too, so did some research and googling. Came to the conclusion that it didn't make sense for me. By the time it was over and done, I'd have spent nearly half of what a purchase would cost and have had no equity. The tax part didn't do enough to help out. Good luck.
You have learned well, little grasshopper!
Yep, you put a pretty large "down payment" UP FRONT on it, then you will pay nearly half the cost of the vehicle for three years and then turn it in (and have nothing for that money you just paid for other than the use of it) OR you buy out the lease on what is known as a "balloon payment"..
The balloon payment you are basically paying the REMAINDER of the FULL ASKING PRICE (MSRP) when you agreed to the lease PLUS INTEREST and other fees and taxes.. For the most part the payment will require you to secure a new loan which will cost you more in interest payments..
Most folks get into a lease because the PAYMENTS are smaller than what a loan would be.. Gives the buyer a false sense that they can "afford" a vehicle above their means..
Only a few times where a lease may make sense but I would question that..
I worked with a guy once that he told me that he got "bored" with vehicles and figured he would ALWAYS have a payment.. So, he always leased.. Well he also had a nice big house but could not afford to buy furniture for it (had lawn furniture inside) and often his phone was disconnected and even electric and gas turned off.. But he sure drove some nice looking vehicles!
