Leasing newbie

rocky

Well-known member
I’ve always bought but serious considering leasing for the wife’s next car due shortly. She doesn’t do many miles. In fact, 25k in four years, with a bunch of those miles to and from SC. Not going to trade her car, as our oldest needs wheels when he moved out of Boston.
Wanting to avoid getting ripped off...
 

WreckITFrank

Well-known member
My last lease worked out better than the buy, even though in the end I bought it out. Leasing incentives were from the bank, not MFG/Stealership, so another 5K came off the top. Even with the extra taxes from the lease and the refi after the terms were up, I was a few thousand ahead at the end. I was 100% against leasing until I sat down and did the math. I am still not the biggest fan but with the used market booming, new leases and eventual lease buyback/buyouts are in favor of the lessee. I'm sure others in the market can validate, but that was my most recent experience.
 

blueboy

Well-known member
My story is the same as above.
Key for me was the residual value in case you want to purchase at lease end which I did. Yes, it is a crap shot for future value yet there are resources to help determine. And of course the higher residual the lower the lease payment yet higher buyout if you want to keep the vehicle.
Run the numbers - it worked out in my favor when I bought the vehicle at the end.
 

mgreenspan

Founding Member
Depends what type of town you’re in and what incentives are offered. I got a sweet deal on a new Ford Escape in 2013 when living in a fairly small town that was cheaper to buy and sell ~3 years later than a lease. Or buy a less than one year old used car.
 
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