KampingKris
Folsom, CA USA
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Joined: 09/17/2002
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We're sort of looking at getting something new or used SUV or some other similar vehicle capable of towing small ATV trailer with 2 quads. Current vehicle's towing capability is maxed and not the best setup.
We put less than 12,000 per year on this particular vehicle. Unless we're taking the quads, it sits at home on many camping trips.
So, we can have lower payments if we lease - and the choice to purchase the vehicle or walk away in 39 months..(have no idea where they dreamed up that term)...
But we only leased a car once a very long time ago and it wasn't a pleasant experience.
Any advice..?
KampingKris,FiremanSteve,DaughterCara
Jada - American Eskie princess
2003 GMC Sierra 3500
2006 Alpenlite Limited 34RLR
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427435
Rochester, Mn
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Joined: 11/12/2005
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Leasing is a great deal-----for the banks and dealers.
Try and sell whatever you currently own. Then take the cash (you aren't upside down are you?) and buy a better used vehicle. Get a loan if necessary. Then keep the newer vehicle until it's not only paid for, but until the wheels are about to fall off it.
Mark
2000 Itasca Suncruiser 35U on a Ford chassis
2003 Ford Explorer toad with US Gear brakes,
ReadyBrute tow bar, and Demco base plate.
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Doug4.7
Hartselle, AL, USA
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Joined: 10/02/2003
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I've always read (but not recently) that if you like to get a new car every two years (or so) and don't drive many miles in a year, leasing is good for you. Otherwise, purchasing is the way to go.
In our case, we drive too much and like to keep the vehicle for at least 100 kmiles, so leasing is very bad for us.
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jcapps
Not a senior just a
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Joined: 08/18/2004
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Leasing versus buying depends on many factors. The right price is one. I lease if the math works out. For instance I have leased with as little as $999 down and 170 a month. When I went to buy a new car before the lease was up, they gave me $1,500 credit and took the lease as trade. So I basically drove the car for 30 + months for less than $4600. Had I purchased the same vehicle, I would have had to put down $5,000 and the monthly payment would have been about $500 a month. After 30 months I would have put out about 20k and could have sold the car for about 15k.
Meanwhile I had my original deposit savings off 4,100 in the bank and I was saving $330 a month. I challenge anyone to tell me that is a bad deal for me.
When it comes to leases you really need to do the math. See what the deposit and payments are for leasing versus buying and don't forget to see what the residual value would be at the end of three years.
When I did trade in that lease, I purchased the next vehicle because the math worked in my favor
"The great challenge of adulthood is holding on to your idealism after you lose your innocence."
– Bruce Springsteen
"This ain't the practice round"
- a friend
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kingairta
Marietta, Ga
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Joined: 04/23/2009
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Buy used and own it till the wheels fall off. Esp if your looking at using it as little as you say and for what you say.
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KeninAZ
Prescott, AZ
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Joined: 06/22/2002
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OK, the lease. First of all make sure you are not moving.
It can be a problem.
If you lease make sure you pay enough in your lease for the mileage you may drive. The costs of paying the overage when you turn it in are high in most cases.
And you can walk away but if you don't get another from the company I think you will find that they will nit pick the car you turn in and then tell you if you get another from them they will waive the damages. It's just a sales tactic.
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Crowe
Billerica, MA USA
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Joined: 01/29/2002
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Unless you can keep the car in pristine condition, I wouldn't do it. The cleaning fees they hit you with are phenomenal. Also, check the fine print. Some leases will not allow you to tow.
Life is too short to spend it all in one place!
2004 Gulfstream Endura
2010 Subaru Outback soon-to-be toad
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jcapps
Not a senior just a
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Joined: 08/18/2004
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Wow I never got hit with any fees whatsoever either when I turned in a car or truck. I also never got hit with a cleaning fee, however I can understand that because I have seen some real slobs when it comes to car interiors.
When it comes to exterior issues, they all have allowances for door dings and such. But I would not blame them for charging for dents.
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taxgun
SF. Bay Area
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Joined: 06/25/2002
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I've leased and turning the car back cost me nothing.
I buy now, because the real value of a vehicle (normally) is in owing it and
driving it for years after you own it. The last car I financed I owned for
8 years after it was paid off !!
No car payment meant I could go gambling more LOL
Check the terms, get help if the numbers confuse you.
I believe the internet has a few sites wherein you can read up on this topic.
Your tax person and or insurance agent can help you, too.
Joe
If you can read thank a teacher.
If you can read in English thank a veteran
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PUCampin
Castaic, California, USA
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Joined: 07/28/2003
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There are many factors. I am leasing a new car now. I would have purchaced but the math worked better. In my case I added up total amount of payments for the car. Lease for 3 yrs, then buy out the residual at 9% for 3 years, or purchace outright at 3.9% for 6yrs. Leasing first cost less, and also back loaded the payments so I could replace my high milage daily driver even though we are a bit tight right now (my 276k mi daily driver was easily starting to cost a small car payment to keep going) In my case, I will have to buy out the residual, I drive 24K+ mi a year. The milage penalty would cost more than the buy out.
2007 Expedition EL 4x4 Tow pkg
2006 Pioneer 180CK (No more PUcampin!)
Nights in 08: 6 
Nights in 09: 15 Thats all for the year
Me DW and the 3 in 3 
DD 6/14/06, DS  11/27/07, DD  11/11/08
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