New Truck Buy or Lease?
I'm still looking at new trucks (first time in 17yrs), and wondered if leasing would be a good option or not. I went and drove the Ram, and next will try the Ford, and Chevy. I do kind of favor the Cu...
Forum Discussion
The last new car I bought in 2000 I leased. I leased it for 4 years for several reason, none of which are important. At the end of the 4 years I decided I would keep it and bought it for the residual value that was already agreed upon when the car was bought new.
When you lease, you are only financing the depreciation of the vehicle over the life of the lease. The balance is the residual value. If you understand what how a lease works, understand what the terms and values in a lease mean, you will then understand that a lease is just as viable an alternative as buying.
By the way, just because you buy/lease from a particular dealer doesn't mean that is where the vehicle has to be leased from. You can get leases at various lending institutions with varying terms and values; just like buying.
The important thing to know with a lease is, you want to negotiate the buying price same as buying new. Then you figure out the residual value and finance terms.
Anytime I can use someone else's money at 4.5% and keep my own money invested at 9.5%+ I'm interested.
As far as the salesman/dealer is concerned, there is no difference between buying and leasing; unless you don't know what the buying price and residual value are.
When you lease, you are only financing the depreciation of the vehicle over the life of the lease. The balance is the residual value. If you understand what how a lease works, understand what the terms and values in a lease mean, you will then understand that a lease is just as viable an alternative as buying.
By the way, just because you buy/lease from a particular dealer doesn't mean that is where the vehicle has to be leased from. You can get leases at various lending institutions with varying terms and values; just like buying.
The important thing to know with a lease is, you want to negotiate the buying price same as buying new. Then you figure out the residual value and finance terms.
Anytime I can use someone else's money at 4.5% and keep my own money invested at 9.5%+ I'm interested.
As far as the salesman/dealer is concerned, there is no difference between buying and leasing; unless you don't know what the buying price and residual value are.
