Posted by MarkB_MI on September 08, 2017 at 02:58:44 from (70.194.11.41):
In Reply to: Leasing posted by 41106 on September 07, 2017 at 20:31:35:
Right now leasing is ridiculously cheap compared to buying. Why? Because the leasing companies are assuming very high retention values for these vehicles. Which also means that when you turn your leased vehicle, you can expect truck prices to be even higher than they are now. When you lease, you're locking yourself into getting a replacement vehicle in a few years. Yes, you can buy back your leased vehicle, but in that case you would have been ahead to have bought it outright to begin with.
If you intend to get a new vehicle every few years, you don't drive a lot of miles and you're not too rough on your trucks, it probably makes sense to lease. I don't fit in any of those categories, and I suspect most folks here do not.
Here in Michigan, there's no sales tax on leased vehicles. So on a $50K vehicle, you pay an acquisition fee ($300, I think) rather than $3000 in sales tax.
If you do lease, figure out how many miles you expect to drive the vehicle above what you're allowed. Then buy those miles up front; they're MUCH cheaper to buy up front than at the end of the lease. (Figure conservatively, because you lose the miles you don't use.)
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