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Old 10-14-2008, 12:44 PM   #1 (permalink)
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Lease or Buy in troubled times

Would it be better to Purchase or Lease during these tough financial times for businness purposes. Also the Taco is due for a redesign for the 2012 model year. A 3 year lease would put it at about the time the next Taco would be released. Finances are a little tough right now. Will not consider any other truck other than a Taco. My 99 has 114,000 miles with nada a problem. Any thoughts???
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Old 10-14-2008, 12:54 PM   #2 (permalink)
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stay with the 99

if you want new, then buy. leasing is for the birds
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Old 10-14-2008, 12:56 PM   #3 (permalink)
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Quote:
Originally Posted by 81shark View Post
stay with the 99

if you want new, then buy. leasing is for the birds
^+1
114,000 and the truck is 9 years old...you have plenty of life left in it.
If you are really scratching that itch to get new, then buy....0% interest on Taco's now.
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Old 10-14-2008, 12:57 PM   #4 (permalink)
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Leasing or buying depends on your personal situation.

I lease personally. It gives me a lower payment, and I don't drive enough to worry about mileage. I also like the idea of getting a new vehicle every 3-4 years. I would do the same if I was buying anyway.
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Old 10-14-2008, 12:58 PM   #5 (permalink)
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Leasing or buying depends on your personal situation.

I lease personally. It gives me a lower payment, and I don't drive enough to worry about mileage. I also like the idea of getting a new vehicle every 3-4 years. I would do the same if I was buying anyway.

lower payment doesn't always = lower cost
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Old 10-14-2008, 01:03 PM   #6 (permalink)
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I do a 3 yr lease with the wife's vehicles and buy mine.
Works well for me.
If your finances are tough and you must get a new vehicle,buy it.
You can always sell the vehicle and get out of the payments.
If you lease,you can't unless you find someone to assume the payments which at best is a longshot and hassle.
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Old 10-14-2008, 01:31 PM   #7 (permalink)
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Quote:
Originally Posted by 81shark View Post
stay with the 99

if you want new, then buy. leasing is for the birds
Would love to stick with my 99 but my 10 year old is getting cramped in the back. He's a big kid for his age as people think he's 13. Forgot to mention that part Sorry. Just time to get a 4 door. Do dealers give a Lil extra discounts for being a repeat customer?
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Old 10-14-2008, 03:40 PM   #8 (permalink)
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I had to get rid of my f150 for the exact same reason. The tacoma 4 door has much more room for my little boy and all our gear. I'm leasing as well do to finanicial reasons, but plan to buy after the four years is up. But I am quite pleased with the 4 door room wise.
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Old 10-14-2008, 05:29 PM   #9 (permalink)
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Leasing doesn't work for me, I put wayyyyyyyyy to many miles on a vehicle in a year 30-35k to do a lease. If you got the down payment and drive a little bit, under their limits, it'll might be cheaper for you. Fortunately, I now drive a company vehicle, and that has saved me a ton of gas money along with the miles and wear and tear on the truck. I would definitely have over 70k by now, and I got it in June of 06.
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Old 10-14-2008, 05:51 PM   #10 (permalink)
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If it's going to be a personal vehicle - buy it - then you will have something to show for your payments. They are offering 0% interest. If you lease, then you have NOTHING at the end of the lease.
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Old 10-14-2008, 06:38 PM   #11 (permalink)
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Originally Posted by ImpulseRed008 View Post
If it's going to be a personal vehicle - buy it - then you will have something to show for your payments. They are offering 0% interest. If you lease, then you have NOTHING at the end of the lease.
I would tend to agree with that, BUT assuming someone buys on a 60 month contract, it will probably be 3 years before the payoff on the truck actually equals what it could realistically be sold for. Your net gain is still nothing after 36 payments in either case. You could presumably walk away from either one after 36 months. The next 24 payments are gravy though.

That being said, I still much prefer buying over leasing.
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Old 10-14-2008, 06:42 PM   #12 (permalink)
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screw the kid, make him suffer. no need to over extended yourself for the sake of his legs

but i would still buy.
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Old 10-14-2008, 06:46 PM   #13 (permalink)
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hey there

+1 stay with your 99 as long as its not one of those with the frame recall

other than that. buy buy buy,,, if you talk to your accountant. there is no way a lease is better than buying

the only time i can ever think of a lease being worth it. is if you don't wanna take care of the vehical.

cheers
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Old 10-14-2008, 06:49 PM   #14 (permalink)
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Quote:
Originally Posted by HomeGrown View Post
I would tend to agree with that, BUT assuming someone buys on a 60 month contract, it will probably be 3 years before the payoff on the truck actually equals what it could realistically be sold for. Your net gain is still nothing after 36 payments in either case. You could presumably walk away from either one after 36 months. The next 24 payments are gravy though.

That being said, I still much prefer buying over leasing.

upside down....

i'm not sure when i went right side up, but it's been a while. I figure i have at least 4K of equity and i'm just under 3 years in (financed everything but the taxes)

however, i make weekly payments (my choice) vs monthly payments to save a little on intrest and pay it off a little quicker. (8 months early by my calculation, but that also includes a refi last year to save a little more on int)
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Old 10-14-2008, 08:11 PM   #15 (permalink)
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Buy. People are getting great deals on '08 leftovers right now.
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