- 17,048
I bought a SWEET Jeep Wrangler on e-bay last month.
Got to be able to get out in the ice storms this winter.
Got to be able to get out in the ice storms this winter.
To Lease or Own...That is the Question
- Thread starter Seniorgirl411
- Start date
I just told my wife 2 days ago that my next vehicle is going to be a Jeep Wrangler, and a pop-up camper(used of course).
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I love the Orioles, even though they suck. I have been a fan since childhood. My family makes the 3 1/2 trip to see them about 5 times per year, usually when the play the Yankee's or the Sox's.
My favorite all-time player in all of baseball is Brooks Robinson. 16 consecutive Gold Gloves
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- 10,275
Some good ideas here. Next Fall I think I'll get CarFax and AutoTrader and look.
Not sure of the distance, but the Biltmore Estate in NC is beautiful over the holidays....
BILTMORE in Asheville, North Carolina, Americas Largest Home and More!
BILTMORE in Asheville, North Carolina, Americas Largest Home and More!
- 1,183
I heard it said once that a lease moves the sticker shock from the front end of the transaction to the back end i.e. when it comes time to turn it in.
This is true, however, I was in the car business when gas prices hit $4.00 a gallon and I saw people with Ford Expeditions, Chey Tahoes, Cadillac Escalades, that owed 45-50,000 on them and dealers wouldn't give them 10,000 for them because they didn't want them either. People were desperate to get rid of their SUV because they couldn't afford the payment AND keep gas in it. You should have seen the people in tears when they found out. If their credit would stand having 2 loans at one time, and the bank would finance it, they would finance a new small car then let the other bank repo the SUV. Dealers were telling them to do this. I witnessed this many times with my own eyes.
If they had leased the same vehicle, they could have walked away at lease end and lost far less money and not dinged their credit.
If you MUST buy an SUV, that you can't afford, lease it. If gas prices go up again, you will be thankful you did. Even if you can afford to pay cash for it, you will have a vehicle that you paid $45000 for and it is now worth $10000.00. if you leased it, the bank eats the bulk of the depreciation. SUV's are BAD purchases.
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- 10,275
WE have two SUVs (Envoy and QX4) and I was thinking of getting a third next year. I didn't realize the value on them had dropped so much. Of course, I never checked.
Quick note on Envoy...I had never had a GM vehicle before. My brother-in-law is a design-engineer in Mi and we were able to use his discount (in 2004). I think the sticker price of about 40 dropped to about 31 with discounts and rebates and they gave us 10k on a trade. We were thrilled.
And...I have to admit...the Envoy has been a great car for us.
Quick note on Envoy...I had never had a GM vehicle before. My brother-in-law is a design-engineer in Mi and we were able to use his discount (in 2004). I think the sticker price of about 40 dropped to about 31 with discounts and rebates and they gave us 10k on a trade. We were thrilled.
And...I have to admit...the Envoy has been a great car for us.
- 17,048
People are absolutely nuts and can't work a calculator.
They will spend thousands of dollars and take low trade in amounts to get a smaller vehicle when they are only going to save around $1,000 to $1,500 per year on gas.
Never made any sense to me. If you already have the big vehicle just keep driving it.
The prices have gone back up since gas prices are down to $2.50 a gallon, but they will never be back to where they were. There are buyers out there for SUV's, but not near as many as 2 years ago.
Unfortunately, people were so desperate to trade, they took a huge hit, when if they would have waited it out, their vehicles would be worth much more today.
- 17,048
My point is...it doesn't matter what the vehicle is worth if you just keep driving it. A vehicle is a TOOL not an asset.
