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Smart Shopper Leasing vs. Purchasing
517 messages, Last post on Sep 17, 2009 at 12:47 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Replying to: cagn (Apr 27, 2009 4:03 am) Amount due at signing? Does that include tax? Mileage allowance? regards, kyfdx Host-Prices Paid Forums
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Replying to: kyfdx (Apr 27, 2009 7:19 am) Does that include tax? yes Mileage allowance? 15,000 per year (45,000 over the 3-year period)
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Replying to: cagn (Apr 27, 2009 7:23 am) Given that, the lease payment looks very good, and the residual is unrealistically high (that's a good thing on a lease).. I'd lease that car, rather than buy it, assuming your driving habits fit the lease parameters. regards, kyfdx |
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Replying to: cagn (Apr 27, 2009 4:03 am) Residual is too high for the car but that only will affect you if you want to buy the car out at the end of 3 yrs. If you bought the car you'd probably be looking at payments in the mid to upper $400's depending on term and money down. |
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I have a 2006 Toyota Rav 4 with 31,000 miles and 2 more years of payments (it was purchased). Because I tend to put minimal miles on the car and like to get a new one every 3-4 years I'm strongly considering a lease. Currently I'm eyeing some incentives for leasing a Subaru Outback. My question is is this something I could do now or should I wait? I owe slightly less than the estimated trade-in value on the Rav 4.
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Replying to: hawkette (Jul 09, 2009 6:24 am)
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Replying to: qbrozen (Jul 09, 2009 7:21 am)
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Replying to: hawkette (Jul 09, 2009 9:26 am) Well, frankly, I think you hold it longer. You did finance it, after all, and with only 31k miles, your best years are ahead (meaning little to no repairs and depreciation has slowed). Granted, if going into a lease, its not like you need equity in your current car. But it is a cheaper option right now because, while the payments may be high, you are building equity. Equity you will no longer be building in a new lease. So, for instance, maybe you are burning through $200/mo on your RAV4 right now for the next year or 2 (payment minus equity). But on a lease, it would be twice that.
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Replying to: qbrozen (Jul 09, 2009 9:56 am)
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Replying to: hawkette (Jul 09, 2009 10:40 am) The Subie deal may be tempting ... but is that $239 all inclusive (taxes, tags, bank fees, etc) and the exact model you want? Little differences in equipment, money down, miles per year, etc, can make a substantial difference in lease payment.
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