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Posted: 1/28/2006 7:48:02 AM EDT
what's the best way to go these days?

TIA
Link Posted: 1/28/2006 7:56:59 AM EDT
Your best bet would be to buy a pre owned truck in good condition that still has a warranty. Too many restrictions with leasing and you take a hit when you buy a brand new truck.
Link Posted: 1/28/2006 7:58:35 AM EDT
[Last Edit: 1/28/2006 7:59:13 AM EDT by PBIR]
The above is good advice. Buy, do not lease. You will get screwed if you fall into the same category as about 90% of lease customers.
Link Posted: 1/28/2006 8:06:16 AM EDT
It depends, how long do you plan to keep it. The longer you keep it, the more buying makes sense.
My brother's wife won't keep a car more than 2-3 years, so leasing makes alot of sense for him.

I keep my vehicles at least twice as long as the time I spent paying for them. So a four year loan means I will keep it 8 years, etc. I also run them till thier dead, no trade in's for me. So buying makes more sense for me.

Also, I don't like a car company telling me how I have to treat THIER car and how many miles I can put on it.
Link Posted: 1/28/2006 8:06:48 AM EDT
It totally depends on the mileage and usage. If you are looking for a work truck, buy don't lease. You are liable for the damages at the end of the lease term, if any. If you are a high mileage driver by default, buy do not lease. The mileage overrun will kill you in the end.

Link Posted: 1/28/2006 8:15:17 AM EDT
i usually drive 13K/year and like the idea of turning it over every 3 years...been doing that now via buying and leasing seems to make better sense...
Link Posted: 1/28/2006 8:21:04 AM EDT

Originally Posted By Burnsome-:
i usually drive 13K/year and like the idea of turning it over every 3 years...been doing that now via buying and leasing seems to make better sense...



lease
Link Posted: 1/28/2006 8:24:22 AM EDT

It all depends on the residuals of the model you are considering. High residual on a short term (2 year) closed end lease is a good deal (usually). Low residual-buy it.

YMMV.
Link Posted: 1/28/2006 8:29:55 AM EDT

Originally Posted By charliehorse794:
Your best bet would be to buy a pre owned truck in good condition that still has a warranty. Too many restrictions with leasing and you take a hit when you buy a brand new truck.


I wouldn't lease unless it was a company vehicle I could write off the payments fully..
Link Posted: 1/28/2006 8:30:39 AM EDT

Originally Posted By Burnsome-:
i usually drive 13K/year and like the idea of turning it over every 3 years...been doing that now via buying and leasing seems to make better sense...



Lease.
Link Posted: 1/28/2006 8:35:18 AM EDT
I personally couldn't imagine "renting" anything for 2 years short of an apartment.
Link Posted: 1/28/2006 8:35:54 AM EDT

Originally Posted By postpostban:
It depends, how long do you plan to keep it. The longer you keep it, the more buying makes sense.
My brother's wife won't keep a car more than 2-3 years, so leasing makes alot of sense for him.



I do the same thing. Keep vehicles less than two years and put very low miles on them, less than 10K a year. Leasing is right for me. Payments are lower and I get a new vehicle every couple of years that has a full bumper to bumper warrenty and a service agreement.
Link Posted: 1/28/2006 8:42:23 AM EDT
I agree with most thats posted above. But there are few door knock down deals you cant refuse on a lease.

$1500 down and $120 a month for even nonemployees. 4x4 and AC. So you might not get leather or all the electronic nick nacks but for $120 a month it will be worth it.
Link Posted: 1/28/2006 8:42:23 AM EDT

Originally Posted By coondog:
I personally couldn't imagine "renting" anything for 2 years short of a apartment wife.



There fixed it for you.

Seriously, buy one new, and then drive it till it quits. You do the same thing with everything else. You don't rent your clothes do you?
Link Posted: 1/28/2006 8:59:59 AM EDT
[Last Edit: 1/28/2006 9:00:19 AM EDT by NoVaGator]

Originally Posted By Waldo:
It all depends on the residuals of the model you are considering. High residual on a short term (2 year) closed end lease is a good deal (usually). Low residual-buy it.

YMMV.



What Waldo is saying is that in a lease you're paying for the depreciation.

Don't lease vehicles that depreciate quickly.

Wanna get raped? Lease something like a Chevy Malibu.


Link Posted: 1/28/2006 9:00:38 AM EDT

Originally Posted By 338winmag:

Originally Posted By coondog:
I personally couldn't imagine "renting" anything for 2 years short of a apartment wife.



There fixed it for you.

Seriously, buy one new, and then drive it till it quits. You do the same thing with everything else. You don't rent your clothes do you?


Ha ha ha ha ha ha ha ,good one. Good point as well.
Link Posted: 1/28/2006 9:12:13 AM EDT
Rent or own?

Car payment for life or car payment for 4 years followed by 6 years of no payments?
Link Posted: 1/28/2006 5:13:20 PM EDT

I agree with most thats posted above. But there are few door knock down deals you cant refuse on a lease.

$1500 down and $120 a month for even nonemployees. 4x4 and AC. So you might not get leather or all the electronic nick nacks but for $120 a month it will be worth it.



that's a heck of a deal ARDOC.....which brand truck are you referring to? i was looking at the GMC Z71 extended cab sierra...not anywhere that good of a deal...
Link Posted: 1/28/2006 5:26:29 PM EDT
Buy a used GMC/Chevy 2500hd Duramax Diesel. 02-03 w/100,000 miles okay if it's been serviced. Expect $21,000 - $23,000 for crew cab and 4-wheel drive. Never, I repeat never Lease.
Link Posted: 1/28/2006 5:46:24 PM EDT
Never lease I buy a new truck every year unless you can deduct the lease payment don't do it
Link Posted: 1/28/2006 5:55:07 PM EDT

Example of a decent lease that I can get.

2006
Ram 1500 Qd Cab SLT 4WD (24G)
$33,330/$28,586
24month $159mo $1999 due-at-signing (down payment plus 1st month payment). 1000 miles per mo.

Link Posted: 1/28/2006 6:29:39 PM EDT

Originally Posted By Carhlr:
Never lease I buy a new truck every year unless you can deduct the lease payment don't do it



this is the pinnacle of foolishness
Link Posted: 1/28/2006 6:36:04 PM EDT

Buy.


Link Posted: 1/28/2006 8:18:59 PM EDT

Originally Posted By Burnsome-:

I agree with most thats posted above. But there are few door knock down deals you cant refuse on a lease.

$1500 down and $120 a month for even nonemployees. 4x4 and AC. So you might not get leather or all the electronic nick nacks but for $120 a month it will be worth it.



that's a heck of a deal ARDOC.....which brand truck are you referring to? i was looking at the GMC Z71 extended cab sierra...not anywhere that good of a deal...



It was in the paper last Sunday. Its says employee cost for everyone. Its a small ranger or something like that but for $120 I guess you really dont argue. What will kill with a new car is the insurance.
Link Posted: 1/28/2006 10:04:05 PM EDT
Key words that immediately identify you as not being the Sharpest Knife In The Drawer:

1. I want to have a NEW truck.
2. I want to have a new truck EVERY FEW YEARS.

Unless you are a total financial tard, you BUY a USED truck, and then DRIVE IT UNTIL THE WHEELS FALL OFF.

There are no exceptions.

Link Posted: 1/28/2006 10:07:09 PM EDT
Buy the truck and pay cash.

If you can't pay cash, you can't afford it.
Link Posted: 1/29/2006 12:11:14 AM EDT

Originally Posted By markl32:
Buy the truck and pay cash.

If you can't pay cash, you can't afford it.



Good Posting. I couldnt agree more.

James
Link Posted: 1/29/2006 12:15:39 AM EDT
If you KNOW that every 3 years you will be getting a new vehicle (say you are a real estate agent taking customers, etc) and/or you can deduct, leasing might make sense, but not for a truck you are going to treat like a truck, the miles over and bangs and bumps will kill you.

If you have kids or relatives coming along in 5 years that might want a first vehicle, buy now, screw them over later.
Link Posted: 1/29/2006 12:19:59 AM EDT
Of the 484,732,914 items posted on arfcom, this,


If you can't pay cash, you can't afford it.


Is the best advice you will EVER see regarding a purchase.
Link Posted: 1/29/2006 8:56:57 AM EDT
yeah...
Link Posted: 1/29/2006 9:29:04 AM EDT
[Last Edit: 1/29/2006 9:30:07 AM EDT by DK-Prof]

Originally Posted By Skibane:

Unless you are a total financial tard, you BUY a USED truck, and then DRIVE IT UNTIL THE WHEELS FALL OFF.



Keeping up with the Joneses, credit cards and materialism have made financial retards out of a huge chunk of the population.



I don't believe I am ever going to buy a new vehicle again. I'll buy two-year old, from a reliable manufacturer, and buy an extended warranty on it. Let someone else eat the depreciation of the first two years.
Link Posted: 1/29/2006 5:23:46 PM EDT

Originally Posted By Skibane:
Key words that immediately identify you as not being the Sharpest Knife In The Drawer:

1. I want to have a NEW truck.
2. I want to have a new truck EVERY FEW YEARS.

Unless you are a total financial tard, you BUY a USED truck, and then DRIVE IT UNTIL THE WHEELS FALL OFF.

There are no exceptions.




I am going to take exception with you on this one. If you are going to drive it till the wheels fall off, buy new.
I have a 94 C-1500 pickup. Bought it new. Paid cash. It now has 400K on it. It has just about had it. I will do this again. I have the money saved up for it. When it is just about gone, I will buy another new one and start over. The depreciation that everyone is quoting is not applicable unless you plan to sell your car.

If you are going to drive it till it quits, you have to figure your cost per mile. That is the miles driven divided by the cost of the vehicle plus all of the stuff you have put into it, including gas, oil, tires, taxes, parts, and labor. this is the true number you want. You want the lowest cost per mile. No one figures this one.

One question:
Do you buy your shoes used too?
Link Posted: 1/29/2006 5:27:10 PM EDT

Originally Posted By Skibane:
Key words that immediately identify you as not being the Sharpest Knife In The Drawer:

1. I want to have a NEW truck.
2. I want to have a new truck EVERY FEW YEARS.

Unless you are a total financial tard, you BUY a USED truck, and then DRIVE IT UNTIL THE WHEELS FALL OFF.

There are no exceptions.




I am going to take exception with you on this one. If you are going to drive it till the wheels fall off, buy new.
I have a 94 C-1500 pickup. Bought it new. Paid cash. It now has 400K on it. It has just about had it. I will do this again. I have the money saved up for it. When it is just about gone, I will buy another new one and start over. The depreciation that everyone is quoting is not applicable unless you plan to sell your car.

If you are going to drive it till it quits, you have to figure your cost per mile. That is the miles driven divided by the cost of the vehicle plus all of the stuff you have put into it, including gas, oil, tires, taxes, parts, and labor. this is the true number you want. You want the lowest cost per mile. No one figures this one.

One question:
Do you buy your shoes used too?
Link Posted: 1/29/2006 5:39:57 PM EDT
I have read alot of the responses. Interesting.

I pondered lease vs. buy and ran the numbers on both and came up a couple hundred dollars difference between the two. So, say you want a more expensive car - well to lease that car you could knock $150 bucks off the payment per month and drive a nicer car. If you dont plan on keeping it then you can always get another new car every couple years. But if you end up wanting to keep the car, and you buy the residual then you are looking at paying roughly 300 dollars more during the lease/loan over approxomately 7 years vs buying w/ pmts at 4,5,or 6 years.

Leasing is like renting a car, with the option to buy it. You have to weigh the pros and cons of both against your own personal circumstances and see which way is best for you.
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