Anonymous
Anonymous asked in Cars & TransportationBuying & Selling · 3 months ago

Is leasing a truck a better than buying a truck?

Due to high maintenance costs and reliability issues is leasing better when you want to own a truck?

Chevy Silverado Crew Cab 1500 $289 a month lease

Dodge Ram Big Horn - $310 a month lease

Ford F-150 - $299 a month lease

14 Answers

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  • JetDoc
    Lv 7
    3 months ago

    You NEVER "OWN" a truck if you lease it. Leasing ANY vehicle is a REALLY STUPID way to go, Skippy. You STILL have to pay to license, insure and maintain the vehicle as long as you have it in your possession, and when the lease is over, you have NOTHING to show for all your monthly payments.

  • 3 months ago

    Leasing is the most expensive way to acquire a vehicle. A second drawback is mileage limitations. With some leases, you pay extra if you drive over 10,000 miles per year. If you use the vehicle for business, you can write off all the expenses. Look for a vehicle for sale that is about two years old and has less than 25,000 miles on it. Plenty of life left and depreciation is the max for the first two years.

  • Anonymous
    3 months ago

    I always pay cash for cars. I think leasing and financing is dumb. I currently drive a 03 bmw 325i that i fixed up and tuned up myself.

  • Anonymous
    3 months ago

    NO. Leasing is by far the most expensive way to drive a new vehicle and the only reason to lease is if it is for legitimate business purposes so that the cost can be written off on taxes as a business expense.

    Be aware that those low lease rates are only available to well-qualified customers with good credit and a large down-payment and have many hidden dangers including low mileage allowances; high early termination penalties; and throughout the term of the lease you will be ''under water'', meaning that the value of the vehicle will be less than you owe so if you want or need to get out of the lease it will cost thousands. And more often than not the low monthly payment s only for the first 6-12 months and after that it can as much as double.

    And, if you get to the end of the lease and the vehicle has high mileage, hasn't been maintained according to the manufacturers recommendations and it hasn't been kept in cosmetically excellent condition, it can cost thousands more in ''back end'' fees unless you buy the vehicle - which you will have exactly zero equity in and will be paying a premium for.

    The bottom line is that if you cannot afford the payments of a traditional car loan you cannot afford to lease either. If you ignore this advice be sure to read and understand all the fine print in the contract so you know exactly what you are getting into.

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  • 3 months ago

    Unless you are leasing for a business purpose...nobody should lease a vehicle from a cost perspective. I know plenty of people who prefer new vehicles and can afford to do so, but its definitely less cost effective.

  • Jay P
    Lv 7
    3 months ago

    Leasing usually only makes sense if the vehicle will be used for work and you can write-off the lease as a business expense.

    For the rest of us, leasing is essentially a long term rental. At the end of the lease, you return the vehicle and you have nothing to show for it. At least with financing, once the vehicle is paid off, it is yours. Sure, you paid more for it monthly and depreciation took out a sizeable chunk of the original purchase price but at least you have an asset to show for all those payments...

  • Anonymous
    3 months ago

    No. And 90% of the anonymous posters asking about leasing do not qualify. Bless your heart. You think those ads are for you.

  • DEBS
    Lv 7
    3 months ago

    Leasing only makes sense (and only sometimes) if you are buying something you can't otherwise afford and you don't keep your vehicle for a long time.

    I would never consider a vehicle that has high maintenance costs and reliability issues. There are plenty of similar products on the market for you to choose from.

  • 3 months ago

    There have been thousands of studies conducted comparing the cost of leasing to buying and pretty much all of them conclude that leasing is more expensive - and that's when you compare leasing to purchasing a brand new vehicle.

    Its FAR more expensive to lease than to buy a lightly used vehicle 2-5 years old.

    Leasing is a ploy by car companies to separate stupid people from their money. The leases are carefully created to ensure the monthly payments are lower than the payments for purchasing with a loan. This attracts stupid people who ask "how much per month?" instead of "how much?" and the end result is a higher profit margin for the car manufacturer and dealer on leased vehicles.

    The lease rates you quoted are most likely for base model vehicles with extremely low mileage limits. If you want a truck with reasonable features and enough allowed miles to actually drive it on a daily basis you could pay significantly more.

  • Anonymous
    3 months ago

    I don't think so...to me leasing is a waste of money.

    If you are leasing (renting) it you don't own it.

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