BUY vs. Lease? Help me back into an L
Thread Starter
|
Senior Member
Joined: Oct 2001
Posts: 518
Likes: 0
From: Jacksonville,Fl
BUY vs. Lease? Help me back into an L
Someone help me out some Please. I am trying to get back into an L and wanted to see what others are paying for a lease and what others are buying it for.
Please tell me how long and what % and if you put any money down
Please tell me how long and what % and if you put any money down
Senior Member
Joined: May 2002
Posts: 1,634
Likes: 0
From: Hobart, IN
I was helping my dad get a New vehicle recently.
We found an 04 Red L for roughly 30500.
You should be able to talk any dealer down to 29k to Buy, that or just say you can come back with an x-plan pin and get the 28-29k price anyways.
There is also a new Powerlease program SVT is issueing to people interested in teh next gen SVT's
You can lease a 04 L for 24months with the intent of buying a gen3/leasing it at that time.
its 500-540$/mo for the lease.
We found an 04 Red L for roughly 30500.
You should be able to talk any dealer down to 29k to Buy, that or just say you can come back with an x-plan pin and get the 28-29k price anyways.
There is also a new Powerlease program SVT is issueing to people interested in teh next gen SVT's
You can lease a 04 L for 24months with the intent of buying a gen3/leasing it at that time.
its 500-540$/mo for the lease.
Senior Member
Joined: Oct 2001
Posts: 2,456
Likes: 1
From: SE Mich
IMO folks who want to lease a new car really need to fit into a very narrow band of new car buyers.
Think of it as renting one with a milage allowance that suits your actuall usage. If it does'nt fit that perception & price? Then it's not a good deal and purchasing would be better. You honestly have to percieve it as a throwaway situation. Much like leasing a condo or house. It's all money down the drain. But if the situation is right? (not feelings) then go for it.
Rich
Think of it as renting one with a milage allowance that suits your actuall usage. If it does'nt fit that perception & price? Then it's not a good deal and purchasing would be better. You honestly have to percieve it as a throwaway situation. Much like leasing a condo or house. It's all money down the drain. But if the situation is right? (not feelings) then go for it.
Rich
Senior Member
Joined: May 2003
Posts: 810
Likes: 1
From: Edmond, Ok.
I have bought and leased. When I leased my wife's taurus, we were always taking my nissan truck everywhere to save mileage. We bought 15,000 miles a year, but burned that up quickly. Good part of our lease was everything was free. Oil changes were free, wiper blades, you name it. I bought my L cause I know I will never get rid of it.
). I don't lease vehicles. If you buy, they are dealing, supplies are good, and you should not have to pay over $29,500 if you shop around.
Member
Joined: Mar 2003
Posts: 16
Likes: 0
From: houston
The real determining factor is how long do you plan to keep the truck and how many miles do plan to put on it a year?
If you plan to keep the truck and/or put a lot of miles on it, you need to purchase it outright
Ford offers two different type of leases, one is a true lease you make payments for a stated period of time and turn the truck in at the end of that period.
Ford also offers a balloon note with a designated buy back price from ford. In the balloon note "lease" you can grow equity if the vehicle is worth more then the what you owe just like a purchase. The good part is Ford has an agreed amount that they will buy the truck back at the end of 24 months, which I believe is 63% of the original msrp. You can also shop the market and sell it outright or trade it in and if it is worth more then the agreed amount you get the keep the difference.
As previously posted they were also offering you a certificated to purchase a gen III or cobra and to be in front of the line to get one when they come out. They also stated that if your new truck or cobra comes in early or late they will shorten or extend your lease without penalty.
If you plan to keep the truck and/or put a lot of miles on it, you need to purchase it outright
Ford offers two different type of leases, one is a true lease you make payments for a stated period of time and turn the truck in at the end of that period.
Ford also offers a balloon note with a designated buy back price from ford. In the balloon note "lease" you can grow equity if the vehicle is worth more then the what you owe just like a purchase. The good part is Ford has an agreed amount that they will buy the truck back at the end of 24 months, which I believe is 63% of the original msrp. You can also shop the market and sell it outright or trade it in and if it is worth more then the agreed amount you get the keep the difference.
As previously posted they were also offering you a certificated to purchase a gen III or cobra and to be in front of the line to get one when they come out. They also stated that if your new truck or cobra comes in early or late they will shorten or extend your lease without penalty.
Trending Topics
Senior Member
Joined: Jun 2002
Posts: 248
Likes: 0
From: Alberta, Canada
Leassing is the best scam going. You have the feedom of renting, yet you might buy your truck out at the end of your term, depending on your cash situation.
you do have lower monthly payments when you lease, but your buy out at the end of your term is higher.
If your putting your money into a debt, at some point you will want a return, in short, your paying the depreation on the truck, than you give the keys back, the dealer wins.
The only advantage I see to leasing is that if your truck is junk, your not stuck with it, but you lose your payments.
You also have to have full insurance coverage. If you don't have the money, a bank or ford credit still owns your truck.
The bank is not gonna care if you maintain your truck, or how you drive it.
I leased a 2002 f-150, never again, not geting caught paying for two years, than two more, ect for somthing I'm not going to own.
you do have lower monthly payments when you lease, but your buy out at the end of your term is higher.
If your putting your money into a debt, at some point you will want a return, in short, your paying the depreation on the truck, than you give the keys back, the dealer wins.
The only advantage I see to leasing is that if your truck is junk, your not stuck with it, but you lose your payments.
You also have to have full insurance coverage. If you don't have the money, a bank or ford credit still owns your truck.
The bank is not gonna care if you maintain your truck, or how you drive it.
I leased a 2002 f-150, never again, not geting caught paying for two years, than two more, ect for somthing I'm not going to own.
Thread Starter
|
Senior Member
Joined: Oct 2001
Posts: 518
Likes: 0
From: Jacksonville,Fl
I need more info on the $$ price diffrence not actual leasing sorry.
I do not drive alot I only put 12K miles this year on my 03 Cobra.
I really wanted lower payments so I could get an L again and tow a race car instead of using my daily driver. I honestly can say I will never OWN a car/truck in my life.
Life is too short if the new model has something better/fastyer etc. and I can change without getting screwed why not?
I do not drive alot I only put 12K miles this year on my 03 Cobra.
I really wanted lower payments so I could get an L again and tow a race car instead of using my daily driver. I honestly can say I will never OWN a car/truck in my life.
Life is too short if the new model has something better/fastyer etc. and I can change without getting screwed why not?
