To Lease or Own...That is the Question

[CHUMPS FROM OXFORD]

I also know some tools that are asses.

 

[VaDwayne]

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.

I understand your point, but it does matter. If you wrecked it and took a total loss, if you owe $40,000 and the insurance only gives you the current value of, let's say $20000.00, you eat the remaining $20,000.

Even if you pay cash of $40000.00 ,which means you will have full coverage insurance, if you wreck it and the current value is $20,000, you just threw $20,000 out the window.

It is an asset because it's always worth a dollar figure, but it's a DEPRECIATING asset instead of an APPRECIATING asset. Your equity in your vehicle count's toward your net worth, so it is an asset,

LEASE WHAT DEPRECIATES, BUY WHAT APPRECIATES. That is why businesses lease copying machines, phone sytems, signs, office equipment. However, I am not so sure I agree with this theory when it comes to a personal auto.
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I also know soom tools that are asses.

I resemble that remark!

 

[radiusbob]

Actually picked up a 2009 VW Routan off of LeaseTrader.com a few months back...At first thought it was going to be a bit schetchy, but every part of the process was legit. We had to work the current leasee via VW Financing, didn't have to put any money down and was given a cash incentive to take the vehicle (literally $1,300 in cash). This is our fourth leased vehicle (3rd VW) and have to say I prefer leasing to buying for a number of reasons, but washing my hands of it after three years is the best part.

 

[Seniorgirl411]

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.

Ok, here's the thing. For those that have talked to me know that Bankers screwed me and took my renewals away so it's like starting over again. Doing well with what I'm selling, but don't have enough cash to buy a vehicle. I will have to finance. Also, I currently have a 2002 camry with low miles that I owe more than what it's worth( surprise, surprise). So, what is the best move for me? What SUV whether crossover or larger gets decent gas mileage? Any help is appreciated! My husband's company is downgrading his SUV to a car and that's why we have to switch mine out. Thanks.

 

[Newby]

Ok, here's the thing. For those that have talked to me know that Bankers screwed me and took my renewals away so it's like starting over again. Doing well with what I'm selling, but don't have enough cash to buy a vehicle. I will have to finance. Also, I currently have a 2002 camry with low miles that I owe more than what it's worth( surprise, surprise). So, what is the best move for me? What SUV whether crossover or larger gets decent gas mileage? Any help is appreciated! My husband's company is downgrading his SUV to a car and that's why we have to switch mine out. Thanks.

I think if you run an ad in the newspaper that you have a nice Toyota Camery with low miles and you want to trade for a nice used SUV you will get a MILLION calls.

You don't need to involve a dealer. There are a million people who have nice SUVs and are convinced they aren't worth anything anymore because of gas prices.

 

[VaDwayne]

I think if you run an ad in the newspaper that you have a nice Toyota Camery with low miles and you want to trade for a nice used SUV you will get a MILLION calls.

You don't need to involve a dealer. There are a million people who have nice SUVs and are convinced they aren't worth anything anymore because of gas prices.

Great advice!!!!

 

[xrac]

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.

I also have an 04 Envoy SLT black, loaded, really nice.

 

[johndale]

I'm confident with the new one in terms of performance and quality too. I would rather to buy a new one that to get the a used car.

 

[insuranceexec]

09 Hybrid Escalade ESV. No lease; an executive auction. TV's for the kids, and heated seats for daddy.......LOL

 

[VaDwayne]

Ok, here's the thing. For those that have talked to me know that Bankers screwed me and took my renewals away so it's like starting over again. Doing well with what I'm selling, but don't have enough cash to buy a vehicle. I will have to finance. Also, I currently have a 2002 camry with low miles that I owe more than what it's worth( surprise, surprise). So, what is the best move for me? What SUV whether crossover or larger gets decent gas mileage? Any help is appreciated! My husband's company is downgrading his SUV to a car and that's why we have to switch mine out. Thanks.

I would recommend the Honda Pilot or CR-V. You can't go wrong with Honda