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Truck Lease vs Buy: Toyota

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The main thing that leads me to buy vs. lease these days is how much the technology has advanced in cars. I no longer want to own a new car out of its warranty period. 

 I leased a Tacoma last year and I will turn it in and get another one in two years. 

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I usually buy when the dealers offer zero percent financing.  Then it's a no brainer as buying is always cheaper than leasing unless you want a new car every three years.   We always bought and this year leased my wifes Mazdaas a trial..  Payments are about the same. Time will tell

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We have always bought new cars. Never tried leasing. Maintenance on ownership needs to be considered. Tire costs add up over the years. 

The last two cars we bought (Benz) certified pre owned with less than 30k miles on each.

Both times it worked out fine.

Wife is starting to say she wants new car more often so I may lease next time. 

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4 hours ago, fishinambition said:

When a dealer says "it'll save you money" it's not gonna save you money.

Kind of like when they say they aren’t making any money on the deal. That’s code for their screwing you inthe tuchis.

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Posted (edited) · Report post

1 hour ago, Dave588 said:

My 2005 was unreliable dog.

 

Really? Very unusual, in my experience. I've had 3 4runners now. My first one I recently sold to my neighbor with 232,000 mile on it and he loves it. Anything that was ever wrong with that one was my fault. 

To shaky's point. the frame had to be repaired twice. I had it done once and my neighbor's son told me he fixed a piece of the frame rail himself. 

Edited by MikeMc

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Dealer sucked and Toyota had a low period on quality. Check engine light on at a couple thousand miles, dealer told me if it was a nuisance code, they would charge me. So i took it to autozone to read code. i traded it in a year later. 

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1 hour ago, MikeMc said:

 

Really? Very unusual, in my experience. I've had 3 4runners now. My first one I recently sold to my neighbor with 232,000 mile on it and he loves it. Anything that was ever wrong with that one was my fault. 

To shaky's point. the frame had to be repaired twice. I had it done once and my neighbor's son told me he fixed a piece of the frame rail himself

yea, no worries..... BTW you should have given that thing to your neighbor with 232K, cheap sob!!!!!!!! 

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Posted (edited) · Report post

I own a vehicle, lease another.  I’ve leased 7 cars, financed one, the rest paid cash.  Leasing it depends on the vehicle (some lease better than others) and dealership.  I say dealership because any dealer that wants your repeat business is not going to hammer you about scratches and small dents.  They’ll work the numbers to cover those damages to get you in another car.  If you lease thru Toyota finance they don’t go crazy about minor damage at all.  I’ve also purchased 2 lease vehicles and sold them right away, I.e. blue book value was higher than buyout.  Also that buyout price is very negotiable with finance companies if you have cash.  Never paid a full buyout price. Personally I only like to keep cars 3-6 years and the total cost of a lease always beats the finance price.  I never really understood this fear of leasing.  I really don’t give a chit if I own a car or not.

Edited by Jmat321

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14 hours ago, MitchellNJ said:

I've never leased a vehicle but if I ever did, I sure as **** would never drive it on the beach.

Why's that? That's the beauty of leasing. You dont actually own it, so you don't need to worry about long-term care.

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I'm a certified appraiser, so the finance/lease numbers were run on my hp-12 sitting in the dealership. They are somewhat the same. The unknown is how would the truck be valued in 3 yrs by the dealer and if I chose to buy the lease, how would the buy out be structured. 

 

If I understood the dealer, the truck (up to  36k miles) can be turned in anytime in a 3 year term lease.The lease can be purchased but at an additional cost to me, and they will not nail down that buy-out number but they hinted over $6,000. 

 

So, I presume the dealer inspects the truck and then the negotiation begins anew, or lease another. Second glitch is I would like to put a good bed top on, and it's a bet that the size/style will change in 3 years and the topper be worthless for a new vehicle. 

 

I'm working with a neighbor that deals in used trucks, late models. He says he can find one like I want with 40-50K miles for $15K less than new, but Toyota interest rates are less than 2%, best bank financing I can find is 5%+. Insurance is a wash with either lease/purchase. 

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I buy and keep and do all PM.

Used to lease then buyout then keep.(stupid but kept payments affordable)

11 Tundra 0% apr nothing down for 50 months. Payments were higher than I'd like

but 0% is rent free money.

Wifeys 16 4Runner at 1.8% is about 2/3 paid off. 

Both hold their value very well and are garaged. In 2 years no car payments and hopefully

2 dependable cars for several more. Timing is perfect as college is 1.5 years away.

I dislike debt and hate paying interest.

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