Lease or buy?

P

POPPAJ

Forum Member
In February of last year I leased a 2013 GMC Acadia, my 2 year lease will be up in Feb of next year and I am starting to think about what my next move should be. This was my first lease. I like the vehicle, but I made a few mistakes by getting a two year as apposed to a three year lease and paying up front for xtra miles to 30k, both added to the cost of the lease. As it stands now I'll have maybe 14k at turn in time.

I may lease a similar vehicle again but a 3year and a low mileage lease this time. Should save a few bucks. I'm also considering the purchase of a Taurus SHO. Id be giving up the ride height which I like and the cargo volume which I don't really need.

Don't want to seem like a weenie, but looking for advice. Better leases out there? Buy a used SHO ?

Your thoughts?

Thanks!
 
It really all depends on how often you want a new vehicle. If you would like a new one every 2 to 3 years then a lease is the way to go. If you are one to keep a car for 10 years, then buying makes more sense. I like a new car every few years, but I also can't leave well enough alone, so I have to buy a crappy used car and mod it until I'm bored.
 
If you buy right, you can always get out of the car in 2 or 3 years without losing money. As far as a SHO, I have a 2010 that my dad bought from me 2 years ago. Car has been great, just a few little issues. Ac went out due to a cheap part behind glove box, cheap fix. Other repeating issue is the push button start, the start button breaks apart from the dash panel, causing the button to fall thru the back, again a cheap fix.

Car has had livernois tune in it for over 2 years and it runs great and a great car overall.
 
lease deals change so much that it's hard to say for sure right now. When I bought my Charger, the buy deals were better than the lease and the deals in general on the Charger were far better than other vehicles. When my mom went and got a 300, the lease deals were better than buying and the 300 deals were better than the other vehicles. I wouldn't fret too much about it. You're still 5 months away, and I'd spend more time thinking of ways to use your miles than I would about what your next vehicle will be or how you will pay for it. I'd worry about that in January.
 
Do the math. You can come out way ahead leasing if you don't mind what you drive.

Used doesn't save much these days so unless I can put classic plates on it I'll just buy new or lease.
 
brand new cars are the worst waste of money


using a Ford Edge to compare to your GMC similar car ....using the (Think Ford First web site ) I couldn't find a quick GM website


if you were to buy a 2014 Edge SEL from (trunk ) at varsity suggested retail price would be $34,760
which allows you to be the first owner of the car (in my book (BFD) )

now checking Fords Certified pre owned website
Bill Brown in Livonia has a 2013 with 14k miles on for $26993

which saves over 7.5 grand


on a 2015 SHO suggested list price around $47,310
a 2013 ford certified pre owned SHO $28,018
is it really worth over 19 grand to be the first owner???
is it worth that much to you to be the first owner of a car ???
 
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Thanks for the reply's guys. The one thing that worries me about a SHO is would I be able to leave it alone. I've already got a Marauder to dump my spare cash in.:mmm:
 
POPPAJ said:
Thanks for the reply's guys. The one thing that worries me about a SHO is would I be able to leave it alone. I've already got a Marauder to dump my spare cash in.:mmm:
Click to expand...

A $700 visit to livernois will leave you more than pleased. There's not much aftermarket for the SHOs, unless you want to replace turbos and add meth on a daily driver. For me it was a no brainer, plugs, 3 bar map, and a tune. I've got a car that runs high 12s, weighs 4500 lbs, takes the family everywhere, and I paid less then half of sticker after it was 3 years old.

After being a GM guy for years, I'll never own another. This SHO is has more features than my wife's brand new Acura, and will run with 90% of the cars on the road. Ford won my business of this car, so much that my wife wants to dumper her acura for an E Sport.
 
Buying vs. leasing is way more complicated than just looking at 1/2/3 year depreciation numbers. You need to do the math for the specific vehicles you're interested in. Additionally, if you're the type that "must" have a new car every 2-3 years, then that's a big "pro" for leasing (the pro-buy people often neglect to factor in the transaction costs & PITA for selling a car every few years). However, if you're more frugal and will want to drive the car into the ground, then that's a pro for buying. Also, if you drive a lot of miles (> 15k.year), then that's another reason to buy. But bottom line, there is no way to tell you whether buying or leasing is financially better for you until you find your cars and know what the deals/incentives/programs are going on are.

This is even more the case in the metro Detroit area where most of us either work for the Big 3, or have family that do... and employee discounts come into play.

Lastly, your statement about miles and low mileage leases is somewhat confusing. 15k miles/year is a normal lease. 10k or 12k is low mileage. You mention a 2 year lease with 30k miles and having to buy extra miles - no, that is normal allotment for 24 months. Be careful playing the low mileage game... if you go over, it's very expensive. Last time I looked, it was like $0.25/mile.

You also need to be careful when leasing, as some lessors charge you a disposition fee at lease end unless you either buy or lease another new vehicle from them. Chrysler/Jeep does this for sure. I don't think GMAC/Ally does, but you may want to check.

And only on MM do we talk about going from a GMC Acadia to a Taurus SHO, like that's a normal progression. :lol: Personally, I think you're going miss the larger, taller vehicle... esp in the winter. But to each their own.
 
You can get a $40,000 Chrysler 300 S for about 250 a month with zero out of pocket....

Cheap leases are back...


Sent from my XT1096 using Tapatalk 2
 
derbydad276 said:
brand new cars are the worst waste of money


using a Ford Edge to compare to your GMC similar car ....using the (Think Ford First web site ) I couldn't find a quick GM website


if you were to buy a 2014 Edge SEL from (trunk ) at varsity suggested retail price would be $34,760
which allows you to be the first owner of the car (in my book (BFD) )

now checking Fords Certified pre owned website
Bill Brown in Livonia has a 2013 with 14k miles on for $26993

which saves over 7.5 grand


on a 2015 SHO suggested list price around $47,310
a 2013 ford certified pre owned SHO $28,018
is it really worth over 19 grand to be the first owner???
is it worth that much to you to be the first owner of a car ???
Click to expand...

Who the hell pays MSRP? All-new Edges will be on the lots soon so discounts plus A or X plan pricing makes the year old Edge less of a slam dunk that you make it seem.

Sent from my MotoX using Tapatalk.
 
Chris Hansen said:
Lease a new Ram. Hemi, 4x4, 4 door, 24 months, 12k a year, less than 300 a month with 0 down.
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I just priced out a Hemi RAM the other day, $39k truck was 530 per month of 400 to lease... Im sure there are better deals that are out there that the dealerships know of and thats kind of where you get some decent info on what offers are out or at least get some hard numbers.

A year ago, I was looking for a used F150. I went to the dealerships and looked at some used trucks that were $30k used with 20-40k miles. Not too bad seeing as the trucks now are 40k new. Well I got so much incentive discounts that the brand new (2013 with 6 miles) was actually cheaper than a used truck.

It all depends on the vehicle and timing. You have to be patient for a good deal and make the dealership work for you, dont beg for a sale.

As far as leave vs. buy. Like mentioned above.... find out exactly what car you want. price out how much it will cost new, used, lease. Are you planning on buying it after your lease it up? Look at how much you will spend for how long with lease then buy, or buying outright. Also, keep in mind, if you buy used and used doesnt have a huge discount, and you drive a lot of miles per year then you are going to end up paying a lot more for that car due to maint or repairs coming up faster in you buying period.
 
You're approaching this all wrong.
Step One is to determine what car you want.
Step Two is to figure out what story to tell yourself to justify buying it .. you know .. because it'll save you money in the long run .. :D
 
mustangmike6996 said:
I just priced out a Hemi RAM the other day, $39k truck was 530 per month of 400 to lease... Im sure there are better deals that are out there that the dealerships know of and thats kind of where you get some decent info on what offers are out or at least get some hard numbers.

A year ago, I was looking for a used F150. I went to the dealerships and looked at some used trucks that were $30k used with 20-40k miles. Not too bad seeing as the trucks now are 40k new. Well I got so much incentive discounts that the brand new (2013 with 6 miles) was actually cheaper than a used truck.

It all depends on the vehicle and timing. You have to be patient for a good deal and make the dealership work for you, dont beg for a sale.

As far as leave vs. buy. Like mentioned above.... find out exactly what car you want. price out how much it will cost new, used, lease. Are you planning on buying it after your lease it up? Look at how much you will spend for how long with lease then buy, or buying outright. Also, keep in mind, if you buy used and used doesnt have a huge discount, and you drive a lot of miles per year then you are going to end up paying a lot more for that car due to maint or repairs coming up faster in you buying period.
Click to expand...

I just leased one last october. 2014 Hemi Ram, 4x4, 4 door crew cab, had them install a hitch, spray in bed liner, and a set of chrome step bars. 213.93 a month for 24 months with 0 down. They were giving them away last year.

10616045_10202827244708778_6204178687237730842_n.jpg
 
derbydad276 said:
brand new cars are the worst waste of money


using a Ford Edge to compare to your GMC similar car ....using the (Think Ford First web site ) I couldn't find a quick GM website


if you were to buy a 2014 Edge SEL from (trunk ) at varsity suggested retail price would be $34,760
which allows you to be the first owner of the car (in my book (BFD) )

now checking Fords Certified pre owned website
Bill Brown in Livonia has a 2013 with 14k miles on for $26993

which saves over 7.5 grand


on a 2015 SHO suggested list price around $47,310
a 2013 ford certified pre owned SHO $28,018
is it really worth over 19 grand to be the first owner???
is it worth that much to you to be the first owner of a car ???
Click to expand...



Scooter70 said:
Who the hell pays MSRP? All-new Edges will be on the lots soon so discounts plus A or X plan pricing makes the year old Edge less of a slam dunk that you make it seem.

Sent from my MotoX using Tapatalk.
Click to expand...

My thoughts exactly. Hell if you're willing to pay MSRP on a new vehicle, come see me and I'll give you a hell of a deal :lol:


I know I'm a "salesmen", but I'm also a customer, that being said I will NEVER buy a new car as long as it's going to be a DD. I love leasing, I'm the kind of person that want a new shiny car/truck every 2/3 yrs. I don't want to deal with after warranty repairs. Drive it, change the oil/rotate the tires and give it back. A three year lease is WAY too long for me. I've done a couple and at the 27 month mark I'm ready for something new.


As for buying new vs. used, it's all in the vehicle you're buying. My suggestion is to buy CPO (Certified Pre-Owned) if you do. With Ford you will get 172 point inspection, sub-vented interest rates and a 100k power train warranty that you can upgrade with credit for the 100k power train.
 
91trunk said:
My thoughts exactly. Hell if you're willing to pay MSRP on a new vehicle, come see me and I'll give you a hell of a deal :lol:


I know I'm a "salesmen", but I'm also a customer, that being said I will NEVER buy a new car as long as it's going to be a DD. I love leasing, I'm the kind of person that want a new shiny car/truck every 2/3 yrs. I don't want to deal with after warranty repairs. Drive it, change the oil/rotate the tires and give it back. A three year lease is WAY too long for me. I've done a couple and at the 27 month mark I'm ready for something new.


As for buying new vs. used, it's all in the vehicle you're buying. My suggestion is to buy CPO (Certified Pre-Owned) if you do. With Ford you will get 172 point inspection, sub-vented interest rates and a 100k power train warranty that you can upgrade with credit for the 100k power train.
Click to expand...


So read this as a ford customer, you essentially eluded that you have no confidence in ford vehicles out of warranty?
 
mustangmike6996 said:
A year ago, I was looking for a used F150. I went to the dealerships and looked at some used trucks that were $30k used with 20-40k miles. Not too bad seeing as the trucks now are 40k new.
Click to expand...

$30k for a domestic used truck that has 2-4 years worth of miles and is only $10k cheaper than a new truck that you can get discounts on and lease for pretty cheap? Doesn't sound like a great deal.
I always lease because of all the discounts and rebates you can get on domestic brands, I don't drive a ton and I like getting a new car every couple of years. That, and working at a dealership, I see a lot of people who try to get out of vehicles they bought and are upside down thousands of dollars in a car they don't want anymore.
If you do buy used, I suggest buying a CPO vehicle.
 
04GoaT said:
So read this as a ford customer, you essentially eluded that you have no confidence in ford vehicles out of warranty?
Click to expand...

I can read it as a Toyota, Honda, Chevy, etc customer and feel the same way. Things break, wear out, need replacement. The truth is NO vehicle is perfect, will you have an issue? Maybe, maybe not.
 
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