This was brought up in a post that got deleted.

I bought me a 2014 Ram Cummins 4x4 Laramie and financed $24,xxx at 2.0%. I will likely trade the truck between 60k-80k miles, writhing the next 2 years. I have roughly $20k equity that I roll into the next truck purchase.

Some on here say I would be better off leasing, because that's essentially what I am doing. I understand their point, but I have never leased a vehicle and I am curious as to how this would work in my position. Last time I looked, to lease my truck would be $4k down and $600 a month.

What are the beneficial perks to leasing vs financing?

Curious also. I am paying the truck off in the next few months and mama wants a Tahoe but thinks she has to buy used.

What was the total price? I drive too many miles for leasing to make sense.

Purchase price was $44,500

20,000 miles a year

I don't get why people lease. It's like renting. If I'm gonna pay monthly for a car I'm not giving it back.

Its hard for me to get past this too...

never understood leasing for private individual. Kinda like financing to 72 months. You got nothing at trade time.

X2

lease is great if you are a low mileage guy and you get to lease when there are good promotions..

We own a car and lease one, the owned car gets to do the trips and the other is for normal city stuff. we work 15 miles away from home so is 30 mile drive each day plus what you put on if you go to the grocery store.

i put $4k down and i pay $140 a month for a Rav4 for 3 years and 36k miles. So i paid to drive a car that is worth 23k over 3 years only 9k. At the end of the lease yo get another one Or you save some money during your lease to do a good downpayment on a car that you plan to keep.

What is a 3 year old Rav 4 with less than 36k worth? I think you are loosing money leasing that car.

Leasing is for the people that normally buy new every 2-4 years, not to convert someone who keeps a car till paid off to lease. These people rarely have equity and often have negative equity. As they continue t stretch their loans longer to get lower payments, their negative equity increases and they keep putting more negative equity towards each cars.

Banks will only loan on a certain percentage over MSRP. At some point these people are stuck. They have to much negative equity to get approved for another car.

That's a typical lease prospect. They get the itch for a new car often. Leasing allows them to trade sooner. They know when the lease term will end and are in and out faster. If the car is worth more than their residual they have equity and use it for the next car. If they are upside down they can walk away from the lease and roll no negative equity to the next one. They just start fresh. AS LONG AS THEY DONT G OVER ON MILES.

Mileage at lease end is as much a part of the sales interview as it is driving habits. Your lease needs t be calculated and set based on your annual miles driven. Then you won't have to worry about mileage.

Many leases have gap insurance built into the payment so if the vehicle is totaled you're not liable for any shortage between insurance settlement and payoff.

I work for Honda. Our leases give you a $1000 waiver against wear and tear (not miles). With Honda not selling to rental car companies our lease customers are a big source of our preowned inventory. I'm amazed at how often our customers have a little equity at lease end

Agreed. Seems like most leases end up with people buying high, selling low, and giving the dealer a car that's low-mileage and easy to sell.

Looks about right. A new one is $23k-$25k (my boss at work just bought one for $23k). So if you pay $9k to lease it for 3 years, then you come out behind.

Only upside is that the $9k includes taxes. If you factor in that roughly $2k on top of a purchase price, then the numbers get closer.