I know this has been asked plenty of times before but Im trying to decide if the lease is right for me. I go through trucks quite often. like 1 every year or so. I currently sold my truck whihc I was paying 580 a month for 60 months. Im trying to get around 450 or so to save a little money. I drive probaly no more than 12,000 miles a year 15,000 max. What are the pros and cons of a lease? Any hidden charges? Could I put leveling kit, 35's and Edge on it etc? Thanks.

 

Well, if you aren't gonna drive a lot, and you like the idea of driving new vehicles every year or two, or you aren't gonna keep the vehicle for a long time, leasing isn't a bad idea.

You could modify a leased vehicle, although I don't know why you'd want to.

 

For someone who trades every few years leasing is a pretty good deal. The payments are generally significantly lower than purchasing. One drawback you may want to check into, the leasing bank may require you to carry a hefty insurance policy. When we leased my truck we were required to carry a $300,000 (100,000/300,000/50,000) liability policy on it, with some companies that can mean some pretty steep premiums. Other than that the lease wasn't a bad deal, we've since purchased the truck and I probably wouldn't lease again because we keep vehicles longer than a few years. We only did it to have a lower payment.

 

I also heard you have to have big down payments? I usally dont put money down.

 

I leased a vehicle a while back and I didn't have to put anything down. But just like purchasing, it will effect your payments.

 

We put about $6000 down but I don't remember it being required. Like GB150 says, it just affects your payment amount.