Who can tell me about leasing a car?

[TTQ B4U]

After talking to the dealer JEGS works with I think Its best If buy outright for what I want and use the supplier pricing tool to have the truck I want built and not buy one off the lot. A little more money down is needed but owning it is worth it.

 

you do have to consider the fulcrum of the loan in which you will cross over into the area of actually "owning" any equity. just because you finance a car you don't own it and depending on a lot of factors you might be in an upside down situation for upwards of the first 3-4 years.

 

 

I dont want a 52K truck that I just have to turn back in and lose money on.

not sure I follow the lose money part. again, see my point above about when you actually have equity. you might also want to consider that owning a car outright too early isn't smart either as you are leaving equity in your driveway and at huge risks of being crushed in an accident. the point of leasing is to only pay for the use and depreciation which slide downwards the same regardless of how it's financed.

 

If you buy for 60 months or lease a new vehicle for 36 months, it's value is the same at the end of 3yrs/36k miles regardless. The difference is the person leasing it has more options with lower risk at 30-36 months than the person who financed it.

 

Short of it all is buy used and keep a long time or lease new and work off good deals. Worst case thing to do is buy new.