Anybody ever lease a new truck?

[sagerat]

Just curious what others experiences have been. Good, bad, ugly? I don’t like the idea but it might make my monthly out of pocket actually doable.

[rtspring]

Always been of fan of buying the cow instead of renting it. 

I think leases are great for women who dont know much about cars and upkeep. 

[Blacktail Sniper]

The only real benefit I see to leasing is if it is for a business, then it can be turned over and upgraded quickly at the end of the lease.

Otherwise you are basically just renting it long term, have to return it  or pay more to buy it at the end, and usually there are mileage restrictions per year that will be an added cost if exceeded

Leased a new vehicle one time and will never do it again.   If you can get some type of tax benefit from the lease expense, or if you don't mind never paying it off and don't care about eventually owning it or you just want to drive a new rig every few years without losing on depreciation, then leasing is probably a good choice for you.

Otherwise,  it usually costs more in the long run vs a conventional loan that at the end the truck is yours and the monthly payments stop...

[Ridgerunner]

If you can get a good purchase price on it when the lease is up it might be worth it, especially if you can save some money while the lease term is going, I've leased a car and then saved the money and bought it at the end of the lease term. 

[Blacktail Sniper]

Just curious what others experiences have been. Good, bad, ugly? I don’t like the idea but it might make my monthly out of pocket actually doable.

Also, want to add that getting vehicle based on the monthly payment is never a good plan in the long run, especially if going through a dealership.

They WILL figure a way to give you that monthly payment amount you want, but it usually means added years and more in interest if a loan or extra year(s) of lease payments. 

In ideal circumstances, go in to purchase, negotiate your buying price first, then talk trade-in price if you have one and/or downpayment and let the payments fall where they do, based on how long of a term you are comfortable with.

They are well versed in creative ways to make you think they are working to help you by juggling numbers around, but in the end, they are working to get as much out of your pocket as they can.

[Stein]

The other problem is at turn in, my understanding is there are some qualitative decisions made on whether it has wear on it that you need to pay for.  With a hunting rig, I would be afraid to drive it off the road if I was on the hook for every scratch.

I think it comes down to how much convenience you are willing to pay for. 

[sagerat]

The other problem is at turn in, my understanding is there are some qualitative decisions made on whether it has wear on it that you need to pay for.  With a hunting rig, I would be afraid to drive it off the road if I was on the hook for every scratch.

I think it comes down to how much convenience you are willing to pay for.

It’s the gray areas like this that have me concerned the most. Also, I’m well aware that you shouldn’t walk into the dealership and bring up monthly payment amounts. Thanks

[Magnum_Willys]

Leasing can be a good way to go to keep payments low - just pay for the depreciation rather than the whole truck.  The key is keep depreciation low meaning low mileage, low wear and tear, and a vehicle with high resale value.    If you are over 15,000 miles a year or beating up your rig it doesn't usually make sense.  For something like a Jeep unlimited you can drive for 3 years for $299-$349 a month vs twice that on a purchase.  If you are driving low miles you can drive a newer rig all the time by leasing. 

[eastsidemallard74]

I do, and the benefit of lease vs. buy(EX PROFFESIONAL OPINION), if you like to get a new car every few years without losing your a%$ for depreciation values, if you don't do alot of miles/year(I put an average of 5-6K) And the payments are typically less than buying new. I got a lease for a 2018GMC Denali for 499, typical payment for a 65-70K truck with minimal down is gonna be 9-1200/month. You never re coup that. Theres a lot of reasons why to do it. But these are the minimums. I do it because I like new cars, nice cars and don't pay an arm and a leg for maintenance and/or payments

[npaull]

I'll never buy another car (only lease), but I bought my truck because I don't want to worry about miles or beating it up over time. I use my truck pretty hard.