New Truck Buy or Lease?

[garyp4951]

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 Cummins diesel, but will check out the Ford 6.2 gas model.

[Grit_dog]

If you are just retiring your first vehicle in 17 years and don't know if buying or leasing is right for you, you likely answered your own question.
Buy your truck.

[2001400ex]

One advantage to leasing is you can deduct it on your tax return if you own a business. I lease my wife's vehicle for that reason.

[stickdog]

Just traded in our 09 F350 Lariet in sig for a 2017 King Ranch 6.7 CC DRW 4:10. We had 71000- miles 55,000 towing on our 09 Not for the newest and greatest but need for a towing a heavier (19,000) 5th trailer. At this time it is most likily his will be our last truck and trailer. We were not finished moving our junk out of the 09 when a prospective buyer was there to look it over. I guess he had inquired earlier with the dealer about low milage tow vehicles that might come in on trade and was contacted as soon as we signed the papers.
I have never leased a vehicle and never will. I would have kept the 09 till the AC died as I always have with vehicles (10-12) years when the cost for replacement AC was more than I would put in a vehicle of that age.

[time2roll]

DallasSteve wrote:
For those of you who love to own your cars, my favorite question is "Do you still own your first car?"

First car was a '70 Mach I Mustang. Had it 10 years. My needs changed and it needed frame/suspension work. Sold it for what I paid.

[GordonThree]

I've never had trouble leasing, and so far, six vehicles in, have received trade in value selling the lease to the dealer versus lease end surrender. I keep my vehicles well maintained and spotless on the interior, I like to think that helps. 12k miles a year, more miles than vacation time.

[DallasSteve]

I like leasing. They say buy what appreciates; rent what depreciates. Trucks depreciate. I would lease a travel trailer, too, if I could lease a new one. That said, if you want to keep a vehicle for more than 5 years you may be able to save money buying. If you want a new vehicle more often than that, you will probably save money leasing. For those who disagree, I used to be a CPA, so it's not like I can understand the numbers involved. For me I like having a vehicle that never needs to go in the shop. If my leased vehicle does need to go in, it's not my headache. The dealer has to cover the cost. For those of you who love to own your cars, my favorite question is "Do you still own your first car?"

[intheburbs]

Leasing might be an option is you're unsure that you're going to want/keep the truck long-term. For the first time in my life, I leased a vehicle, because it was such a departure from our past vehicles, we weren't sure if we'd like it, and like the idea that we could walk away after three years.

[Michelle_S]

Keep watching sales discounts and loan rates. Many MFRs have been having specials with ZERO percent rates. You can't beat free money. We were originally going to pull money from a Retirement account, but when offered 0% we left the account alone.

[True_temper]

If you cant pay cash for different truck keep what you've got or stay home.

[garyp4951]

The board has spoken, No Lease
Thank you, now for the hard part, to decide on a truck.

[time2roll]

17 years? Buy it.

[YnotTurbo]

Definitely buy. Then you can add any aftermarket items like aux fuel tank etc.

[babock]

Friends don't let friends lease.

[donn0128]

Most leases specifically prohibit towing, so why would you rent, er lease a truck?
In reality a lease it the manufacturers way to sucker you into more vehicle than you can actually aford.

[IdaD]

I drive way too many miles for leasing to be an option. Besides that my approach to vehicles is buy new and drive them till the wheels fall off. I don’t think it’s necessarily dumb to finance a purchase. I could have bought my Ram with cash but my finance rate is .9%. I don’t think it makes sense to pull cash out of an investment account when I can borrow it that cheap and earn more on my money.