Leasing?

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59yukon01
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Re: Leasing?

Post by 59yukon01 » Sun Mar 10, 2019 7:13 pm

ericf4 wrote:
59yukon01 wrote:
Sun Mar 10, 2019 4:12 pm
Leasing isn't for me. Kind of like renting instead of being a homeowner. You have nothing to show for it after the payment ends other than rinse and repeat. Bought my Yukon SLT brand new in 2001. Paid it off in 2004. So this April it will be 15 years without a car payment. Doesn't get any better than that in getting a bang for your buck. 244K miles and all I've had to do to it is the routine maintenance things that come with age, nothing major.

I never intended on keeping it beyond 10 years, but it's been such a great vehicle, and I've kept it in great shape, that it's become a challenge to see how long it can go without becoming a money pit.
the key difference though is that every single car is guaranteed to depreciate while a home goes the opposite direction.
Yes, and all the more reason not to constantly dump money into a transportation device. My truck has basically averaged out costing me about a couple thousand dollars per year if you consider what it cost new, and the amount of time I've owned it. My wife has our GS300, but even that's paid for.

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ericf4
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Re: Leasing?

Post by ericf4 » Sun Mar 10, 2019 7:14 pm

59yukon01 wrote:
ericf4 wrote:
59yukon01 wrote:
Sun Mar 10, 2019 4:12 pm
Leasing isn't for me. Kind of like renting instead of being a homeowner. You have nothing to show for it after the payment ends other than rinse and repeat. Bought my Yukon SLT brand new in 2001. Paid it off in 2004. So this April it will be 15 years without a car payment. Doesn't get any better than that in getting a bang for your buck. 244K miles and all I've had to do to it is the routine maintenance things that come with age, nothing major.

I never intended on keeping it beyond 10 years, but it's been such a great vehicle, and I've kept it in great shape, that it's become a challenge to see how long it can go without becoming a money pit.
the key difference though is that every single car is guaranteed to depreciate while a home goes the opposite direction.
Yes, and all the more reason not to constantly dump money into a transportation device. My truck has basically averaged out costing me about a couple thousand dollars per year if you consider what it cost new, and the amount of time I've owned it. My wife has our GS300, but even that's paid for.
To each their own...no wrong answer.

Sent from my Pixel 3 XL using Tapatalk


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toxicavenger
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Re: Leasing?

Post by toxicavenger » Sun Mar 10, 2019 7:15 pm

ericf4 wrote:
Sun Mar 10, 2019 7:14 pm
To each their own...no wrong answer.

Sent from my Pixel 3 XL using Tapatalk
Eric you are completely right. :thumbsup:

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dnslater
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Re: Leasing?

Post by dnslater » Mon Mar 11, 2019 4:13 am

ericf4 wrote:
Sun Mar 10, 2019 6:20 pm
59yukon01 wrote:
Sun Mar 10, 2019 4:12 pm
Leasing isn't for me. Kind of like renting instead of being a homeowner. You have nothing to show for it after the payment ends other than rinse and repeat. Bought my Yukon SLT brand new in 2001. Paid it off in 2004. So this April it will be 15 years without a car payment. Doesn't get any better than that in getting a bang for your buck. 244K miles and all I've had to do to it is the routine maintenance things that come with age, nothing major.

I never intended on keeping it beyond 10 years, but it's been such a great vehicle, and I've kept it in great shape, that it's become a challenge to see how long it can go without becoming a money pit.
the key difference though is that every single car is guaranteed to depreciate while a home goes the opposite direction.
Interestingly, many are saying that sub prime car loans are becoming such a big thing that it will be the next big economic bust in the USA. 8 year car loans are becoming common place with crazy interest rates. Blows my mind that the average new car loan is nearly $32k.

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mattcantwin
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Re: Leasing?

Post by mattcantwin » Mon Mar 11, 2019 6:35 am

dnslater wrote:
Mon Mar 11, 2019 4:13 am

Blows my mind that the average new car loan is nearly $32k.

It is a crazy amount, then I started pricing vehicles. :raised:
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unsub073
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Re: Leasing?

Post by unsub073 » Mon Mar 11, 2019 9:10 am

I've never gone down the leasing path probably b/c I've never kept a car long enough to bother with it. I'm trying to grow up a little bit and keep a car longer than a couple of years before I get bored. I'm currently at almost 4 years with my current one, and if it makes it to 5, it would be a record for me. Lucky for me, there is nothing out there that I would want to trade for.

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Re: Leasing?

Post by hoppyjr » Mon Mar 11, 2019 1:45 pm

Matt - check this out.

How We'd Spec It: The 2020 Kia Telluride That's a Lot of SUV for the Money https://www.caranddriver.com/news/a2678 ... rice-spec/

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mattcantwin
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Re: Leasing?

Post by mattcantwin » Mon Mar 11, 2019 3:13 pm

hoppyjr wrote:
Mon Mar 11, 2019 1:45 pm
Matt - check this out.

How We'd Spec It: The 2020 Kia Telluride That's a Lot of SUV for the Money https://www.caranddriver.com/news/a2678 ... rice-spec/
Thanks; I've been following lots of pre-release info.

I saw a similar article going through the various options and it made a similar recommendation for the EX with AWD.

I certainly prefer the appearance of the front end design of the Telluride over the Palisade.
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CGSshorty
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Leasing?

Post by CGSshorty » Mon Mar 11, 2019 3:40 pm

I saw a Telluride on the street in a beautiful dark green yesterday. Very impressive looking.
"It's such a fine line between stupid, and clever."
David St. Hubbins

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hoppyjr
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Re: Leasing?

Post by hoppyjr » Mon Mar 11, 2019 3:45 pm

CGSshorty wrote:I saw a Telluride on the street in a beautiful dark green yesterday. Very impressive looking.
The green SX with black trim is a fantastic looking SUV.


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CGSshorty
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Re: Leasing?

Post by CGSshorty » Mon Mar 11, 2019 3:48 pm

hoppyjr wrote:
CGSshorty wrote:I saw a Telluride on the street in a beautiful dark green yesterday. Very impressive looking.
The green SX with black trim is a fantastic looking SUV.
That’s exactly what I saw. I couldn’t see the interior color, but all the options look nice.
"It's such a fine line between stupid, and clever."
David St. Hubbins

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streetracer101
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Re: Leasing?

Post by streetracer101 » Mon Mar 11, 2019 7:14 pm

dnslater wrote:
Mon Mar 11, 2019 4:13 am
ericf4 wrote:
Sun Mar 10, 2019 6:20 pm
59yukon01 wrote:
Sun Mar 10, 2019 4:12 pm
Leasing isn't for me. Kind of like renting instead of being a homeowner. You have nothing to show for it after the payment ends other than rinse and repeat. Bought my Yukon SLT brand new in 2001. Paid it off in 2004. So this April it will be 15 years without a car payment. Doesn't get any better than that in getting a bang for your buck. 244K miles and all I've had to do to it is the routine maintenance things that come with age, nothing major.

I never intended on keeping it beyond 10 years, but it's been such a great vehicle, and I've kept it in great shape, that it's become a challenge to see how long it can go without becoming a money pit.
the key difference though is that every single car is guaranteed to depreciate while a home goes the opposite direction.
Interestingly, many are saying that sub prime car loans are becoming such a big thing that it will be the next big economic bust in the USA. 8 year car loans are becoming common place with crazy interest rates. Blows my mind that the average new car loan is nearly $32k.
It doesn't surprise me, but February's stats are scary. More people are in default on loans now than ever before and millennials are leading the way.

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fastward
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Re: Leasing?

Post by fastward » Wed Mar 13, 2019 6:22 pm

Leasing isn’t bad if you know that you only want a car for fixed amount of time. There is a correlation between price and percentage of leases (more expensive cars have a higher rate of leases).

I usually buy , but we leased the wife’s last car. If mileage isn’t an issue, leasing may be the way to go. New car every few years. No hassle of selling.

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Torrid
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Re: Leasing?

Post by Torrid » Wed Mar 13, 2019 6:42 pm

mattcantwin wrote:
Mon Mar 11, 2019 6:35 am
dnslater wrote:
Mon Mar 11, 2019 4:13 am

Blows my mind that the average new car loan is nearly $32k.

It is a crazy amount, then I started pricing vehicles. :raised:
I still cringe at the price of my truck, but I’ll have it for many years. It’ll be worth it in the end but all vehicles have gotten ridiculous.

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zepp21
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Re: Leasing?

Post by zepp21 » Thu Mar 14, 2019 6:17 am

Torrid wrote:
Wed Mar 13, 2019 6:42 pm
mattcantwin wrote:
Mon Mar 11, 2019 6:35 am
dnslater wrote:
Mon Mar 11, 2019 4:13 am

Blows my mind that the average new car loan is nearly $32k.

It is a crazy amount, then I started pricing vehicles. :raised:
I still cringe at the price of my truck, but I’ll have it for many years. It’ll be worth it in the end but all vehicles have gotten ridiculous.
Truck prices have gone haywire. A fully loaded 2500 with a diesel will easily run 70-80K...and for that type of money, there are a lot of options out there, unless you need it to haul a horse trailer or something. Even mildly equipped trucks run 50K now, making the luxury market seem like a better value.

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Ryeguy
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Re: Leasing?

Post by Ryeguy » Thu Mar 14, 2019 7:18 am

Tacoma prices are crazy too. I was recently at my dealer for a service item and walked around the showroom while waiting. New Taco was mid $40K (of course it was top end, but still big bucks for a mid-size truck). Ironically, I could've bought a similarly decked out Tundra for a few thousand less.

I'm a Seiko guy, so you can logically put me in the "buy and hold" camp. My Tacoma is a 2010 and has been paid off for 6 years. The only money I've put in it are routine maintenance, tires, and I upgraded the stereo to a unit with GPS, satellite, and Bluetooth hands-free phone support (Kenwood unit).

It is actually the electronics package that changes most dramatically IMO. Replacement head units are actually fairly simple to install if you are a little bit mechanically inclined, and now my nearly 10 year old Tacoma has all the modern features you could ask for (although the frame may rust out.....)

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