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Leasing?

adock22096
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adock22096 Enthusiast

adock22096

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Does it make sense to lease with the intent to buy? A couple dealers near me are offering $199 per month lease for 24 months with $3,700 down. It’s for 10,000 miles per year. It said it was offered on the LT with Z71 package. I typically only drive 10,000 miles a year so that wouldn’t be a problem.

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aseibel
aseibel

Leasing is for those who aren't financially able to afford to purchase a new vehicle, and those who feel they need a brand new vehicle every 36 months or less.   If you do the math, you will

Jaychevy81
Jaychevy81

Yea that’s a load of crap cause you can’t financially afford it. Doctors lawyers big corporations lease every day so they can’t afford it either please. They make money off you either way. What would

sk
sk

The big thing about leasing isn't just the lower price -- it's that if you stay in leases you never have ANY repair costs.  And if you lease the higher brands (Buick, Cadillac, etc) most of them inclu

Jaychevy81 Enthusiast

Jaychevy81

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Yea I think so you start out with a cheaper payment. When you go to finance it down the road it’s still a cheaper payment. Also maybe in 24 months you decide hey I want a newer one or something. I leased my 15 had the double cab with the v6. Glad I leased cause I was gonna keep it but decided to turn it back and get a redline edition. It all depends on what you wanna do.


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Kubs Enthusiast

Kubs

Posted
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I am currently leasing mine with the intent to buy.  The payments were less, and it basically turns a normal 5 or 4 year loan into a 6 year loan with potentially lower interest rates.  Also, if you plan to buy, it doesn't matter if you go over on the mileage limit.

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LTeddy Enthusiast

LTeddy

Posted
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I'm on my 2nd lease I love leasing getting a brand new truck every 2-3 years is nice..I might be buying my 17 after they came out with the 19 unless they change something cause they're ugly! Cheap payment for 2 years and if you keep its still a pretty cheap payment

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LTeddy Enthusiast

LTeddy

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Are they able to give an estimated buyout when you start the lease? 

Yup it's right in the paperwork you sign which there's a bit of it lol but they'll explain everything to you and will specifically show you the buyout price at the end at least mine did and I've dealt with 2 dealerships so far

 

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wforrest08 Senior Enthusiast

wforrest08

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If the math makes sense might not be a bad idea. Read the fine print in case you decide to turn it in or buy it (like said above how much is it?). I personally never thought about leasing till recently the wife wants a newer SUV and after talking with a coworker that is on his second Silverado lease and is considering purchasing it but might upgrade to a 2500 if not. This time around he went with a truck loaded the way he would have bought it anyway. I like the idea for the wife that way in case we were to end up with a lemon, we don’t like, or our needs change there’s a easy out. For me a lease wouldn’t work. My coworker also said that they include one set of tires in his lease period (minimum tread requirement) so his salesman told him to come in before his lease is up and get them if he’s buying it. So I’d check out your maintenance agreement and damage clause then figure that into your overall cost. Nice thing about trucks is if you do buy it to start with if you need to get rid of it they don’t depreciate as bad as most everything else 

Jaychevy81 Enthusiast

Jaychevy81

Posted
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Yea it’s def a smart choice I got the preferred package so if you lose a key or fob free replacement. Free battery free wipers tire protection. But also you can get a higher trim for less out of a monthly payment. I had a LT double cab. Which I was going to buy out at the end but the double cab wasn’t gonna cut it with 2 in car seats. So I turned it back and bought a 18 crew LTZ redline edition. I know for a fact if I had financed the 15 LT they would have fought me on a trade in so it def has perks to lease if you can do so I would.


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adock22096 Enthusiast

adock22096

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Well I looked further into it and you must have a current GM lease in the house hold. Unfortunately we don’t have any new GM vehicles. I’m still expecting the deals to much better for purchasing as the 2019s hit the lots. I also saw that GM had a recent grad program that offered $3500 towards a Silverado so that’s another thing I have to consider. 

LTeddy Enthusiast

LTeddy

Posted
Posted

Yea there will be some great deals coming soon for the 18s since 19s started hitting the lots just keep checking.. Every month or so they have different rebates for different vehicles just keep checking that's what I did

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Loco Diablo Enthusiast

Loco Diablo

Posted
Posted

As the deals get better, selection gets slimmer.
The current deals aren’t bad.
If you see what you’re looking for now, and can strike a deal, I’d go for it!


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Kubs Enthusiast

Kubs

Posted
Posted
13 hours ago, texasaggies16 said:

Not a fan of leasing, normally when I see higher trimmed vehicles my first thought is oh thats lease lol.. to each their own.

I used to not be a fan of leasing because you put all that money into it, and build zero equity.  However, when you lease with the plan to buy you know what the buyout price is at the end and your lease payments go toward that value.  It allows you to get a nicer trim level for less or the same monthly payment, you just have more payments than a normal car loan. 

300 Blackout Enthusiast

300 Blackout

Posted
Posted

The actual payments are $354, but you are paying money up front to bring the payments down to $199.

Perhaps that is a useful strategy if you plan on seeking a loan or mortgage approval in the near future and total monthly payments are a factor in you approval.

I’ve leased a few vehicles and found that I didn’t modify the vehicle the way I wanted because I knew I had to turn it in. This detracted from my overall enjoyment of the vehicle.

It seems to me that you can not negotiate the price of a leased vehicle as much as a vehicle you are buying and the incentives seem better for purchases too.

Leasing before buying is a good idea if you aren’t sure you’ll like the vehicle or if you don’t want/can’t afford the payments of a new vehicle. In that case, it’s essentially a way to stretch out payments over a longer time period which may allow you to purchase a vehicle or keep payments lower. You will however probably pay more in the long run as opposed to buying it outright.



Does it make sense to lease with the intent to buy? A couple dealers near me are offering $199 per month lease for 24 months with $3,700 down. It’s for 10,000 miles per year. It said it was offered on the LT with Z71 package. I typically only drive 10,000 miles a year so that wouldn’t be a problem.




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