Last post on Nov 11, 2013 at 11:47 AM
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Car Leasing, Car Buying
#409 of 499 Re: Should we lease again?? [retired2pa1]
by Kirstie@Edmunds HOST
Aug 14, 2013 (2:40 pm)
Also, in your "not interested" category - It seems that you aren't interested in very standard vehicles with no touch of luxury. Would you consider the "upgraded" brands of some of those manufacturers? Toyota & Honda specifically, who offer Lexus and Acura models, respectively. Not a push to get you to commit to anything, just trying to understand what you're ruling out and why.
Have you considered BMW at all? The X5, which is a small-ish to midsize SUV is showing a $489/month payment in my area. One advantage to BMW leases is that they tend to include all scheduled maintenance, like oil changes, at no extra cost.
#410 of 499 Re: Should we lease again?? [retired2pa1]
by kyfdx@Edmunds HOST
Aug 14, 2013 (2:57 pm)
I'm going to take another side of this debate... If you are only driving 5K-7K miles per year, then you should really be buying rather than leasing... It's just not cost effective to give away all of those unused miles, when swapping out.
I might change my mind, if you thought you would drive at least 10K mi/yr, since you are switching to one vehicle.
If you like the Equinox, have you considered buying one of your vehicles, instead of turning it in? You'll be getting a very low mileage vehicle for the residual price of one with higher miles.
Assuming you stick with leasing a domestic make SUV, please note that the Enclave is a pretty big vehicle that seats 7-8 people. It might be overkill for your needs. In domestics, I'd suggest the Equinox, Escape or Edge. If imports are under consideration, then you can get a lot of bang for the buck with the Kia Sorento or Hyundai Santa Fe..
The Acura RDX is a really nice vehicle that is similar in size to your Equinox, but maybe a little more luxurious. Stick with the base model (which is still nicely outfitted), and you should be able to stay under $500/mo.
#411 of 499 Re: Should we lease again?? [retired2pa1]
Aug 15, 2013 (4:16 am)
I'm thinking the same way as kyfdx regarding purchase vs lease. Paying for miles you don't use on a lease seems to be a slight issue. That said, a lease payment is going to be less than a purchase payment, generally speaking (unless you have a chunk to put down to get your purchase payment in line).
However, I think Kirstie has a good point, you don't like base or stripper vehicles. If you're trending to more feature rich, luxury vehicles, the afore mentioned Acura RDX or MDX (which was totally redesigned for the 2014 model year) is a good choice, as is a BMW X3 or X5. Both should be available for the monthly payment you've stipulated.
Good luck and let us know how your shopping goes.
#412 of 499 Re: Should we lease again?? [graphicguy]
Aug 15, 2013 (6:30 am)
Thanks for the feedback.
I'm not sure you and kyfdx read my posts but we are NOT interested in Honda's, which makes the Acura crossed off our list.
That being said, we've decided to take another lease because we don't drive that much any more and we can realistically keep the mileage down. Why not drive a luxury car for far less a month for 2- 3 1/2 years, depending on the lease, and get a new car again after the lease is up? Why spend $700/mo. for 5 years to buy a vehicle that we still don't put any miles on?
Next week we're going to test drive a Lincoln MKX and the Enclave. I'm most interested in the Residual for any car that we're interested in.
#413 of 499 Re: Should we lease again?? [retired2pa1]
Aug 15, 2013 (7:55 am)
I have to agree with the others who have suggested that you BUY rather than lease your next vehicle.
As you get older do you really want to be on the lease treadmill anymore?
Do you want to face these same decisions three years from now?
Aren't you better off BUYING something and maybe pay it off in four or five years and at that point OWN it?
Just my thoughts...
#414 of 499 Re: Should we lease again?? [retired2pa1]
Aug 15, 2013 (11:07 am)
If you like the Enclave but don't want to pay that much the Chev Traverse is a very similar model. Keep in mind these are huge vehicles and you may not want to navigate such a big beast especially in town.
Here is the Edmunds review about the Traverse;
#415 of 499 Re: Should we lease again?? [driver100]
Aug 15, 2013 (11:45 am)
Yes, we've decided to look at the Traverse and test drive one. We had a Nissan Pathfinder LE from 2006-2011 and it was similar in size to the Enclave and Traverse. Besides, we had a Dodge dually 1 ton for a few years when we hauled a fifth-wheel, so I'm use to bigger vehicles..haha. We have also had X-terra's and they are a little bigger also.
Actually, the Traverse's are very nice and can be upgraded a little and would be even more reasonably priced then the Enclave.
#417 of 499 Re: Should we lease again?? [retired2pa1]
Aug 17, 2013 (4:42 am)
Don't forget the other twin...Acadia. It's a nice mix of the Traverse/Enclave. like the GM twins although the FWD version didn't impress with traction on wet roads. I spent two weeks in a rental Traverse awhile back and with nearly new Goodyear Forteras it was tough to accelerate without spinning tires. I'm so used to RWD or AWD these days that was quite annoying!
#418 of 499 Re: Should we lease again?? [sebring95]
Aug 17, 2013 (6:06 am)
We test drove a 2014 Pathfinder SL with Tech Package yesterday and was so impressed with several features. It's going to be difficult to top it in it's class for the price. We owned a 2006 Pathfinder LE until we leased the 2 Equinox's in 2011. We loved the Pathfinder and really missed the luxury part of it.
We live where AWD or 4x4 is really a must for the winter's so anything else is non-negotiable.
We're going to take a look at the Traverse's but I'd be surprised if they will compare to the Pathfinder. The Acadia is a little more pricy than what we want as is the Enclave.
Surprisingly, the Residual on the Pathfinder is 56%. I don't think the Traverse, Enclave or Acadia is that high. We could have gotten a 2013 Pathfinder Platinum for .09% (.00038) for 36 months and the 2014 was 4.2% (.00175) for 36 months and $1500 down and also rebates.