new truck?

[steve in pa.]

Looking to buy new 3/4 ton truck. Lease or buy? just wondering what the pro's and con's are for leasing?

[1Chavez]

Leasing a work truck to will get pretty beat up and you'll pay for it at the end of the lease.
-Rich

[mikeslawnservice]

Steve,
Where in PA are you?

[steve in pa.]

central pa. you?

[Phillip Baker]

BUY, BUY, BUY you cant buy enough coverage on a lease vehicle and you'll end up oweing in the end. They charge you for every dent and scratch, plus the miles, not worth it.

[CrissBrothersLLC]

I am think leases arent the best ideas for most people. The monthly lease price is pretty much the amount of market depreciation that will occur divided over the lease time. This can be good and bad. If the vehicle depreciates greatly, then you really pay for it.


Lets do some math.

Lease
New price w/taxes = $30,000
Value after 3 years = 15,000
Difference = $15000 / 36 = $416 monthly payment

Purchase
New Price w/taxes = 30,000
30,000 / 36 = $833 monthly payment

You are thinking whoa, thats a whole lot more.

But wait.......

Lets take the same truck but buy it over a 60 month period

30,000 / 60 = $500

If you are willing to take a longer term (anything more than 60 mos isnt a good move), then you can OWN the truck after 5 years, that has some value still in it, instead of paying $15000 over three years and then have nothing to show for it.

The other problems with leases are that....
The dealer usually wants a pretty healthy down payment (2-3000)
If you go over the aloted miles, than the fee per mile
is astronomical
Lets face it, you arent going to keep a truck beautiful doing what we do. Scrapes gouges, etc are all billed to you at turn in.


However leasing can be good if.....
You can keep the miles down
The truck depreciates less than other vehicles in the same class
You can keep the truck in good condition


In my opinion, leases are good for people who want a new vehicle every few years, and this vehicle is a scondary mode of transportation.

[AKRA45]

"In my opinion, leases are good for people who want a new vehicle every few years, and this vehicle is a scondary mode of transportation."

thats exactly what i think