Buying my lease

[Nitrousbird]

9 minutes ago, Fix29 said:

1. He clearly stated his truck is a crew cab. 2. Although DC are cheaper than CC I'd like to know where your going to find a 4wd DC with any options at all for 28k new.

1.  He originally posted it was a double cab and recently edited his original post.

 

2.  I already posted a link to a 28k double cab 4wd earlier. 

[Fix29]

1.  He originally posted it was a double cab and recently edited his original post.
 
2.  I already posted a link to a 28k double cab 4wd earlier. 

I didn't realize he changed his post, my mistake. I saw your link, not exactly 28k and not as well optioned as an All star package. Laura does have some great deals, thats where I purchased mine as well.

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[Nitrousbird]

2 minutes ago, Fix29 said:

I didn't realize he changed his post, my mistake. I saw your link, not exactly 28k and not as well optioned as an All star package. 
 

$28,425 before tax out the door.  Close enough.  

[Fix29]

$28,425 before tax out the door.  Close enough.  

Must have changed. When I clicked the link it was 30 something. Regardless it's a great deal, but if he wants the extra options that's kind of irrelevant. That being said I guess it really doesn't matter much anyways since op decided his truck is a crew cab.

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[Nitrousbird]

45 minutes ago, Fix29 said:

Must have changed. When I clicked the link it was 30 something. Regardless it's a great deal, but if he wants the extra options that's kind of irrelevant. That being said I guess it really doesn't matter much anyways since op decided his truck is a crew cab

Price doesn't include the $1500 off using GM Financial and $500 Costco discount. 

[Awwmann]

It is a crew cab dont know why i posted double cab sorry guys 

[Beer Belly]

On 12/23/2018 at 7:15 AM, Beer Belly said:

I just bought out my lease. I wanted to break the Lease cycle, buying new wouldn't fit in my budget, so either way, I was ending up buying a used truck, and what better than your own. The buyout wasn't too bad......trucks on the lot were in the mid to low 30's, my buyout was 25 before any other added charges, so I feel I did okay. The way it worked for me, the dealer basically bought the truck and sold it back to me, I paid an extra charge ($ 425) to have it "Certified", this gave me another trial period of On Star, but most importantly, and extra year on Drive train Warranty, and 1 year Bumper to Bumper.....they had mentioned my brake pads are wearing unevenly and may need new Pads / Calipers next service....this is where I think the Bumper to Bumper will pay off. They did not charge me any "Dealer Fees"....and with it not being a "New" truck, the yearly Personal Property Tax will be lower....we pay almost $33 per thousand of value. I feel comfortable with the decision.

I need to clarify. In my post, I wrote that trucks on the lot were in the mid to low 30's....those are the "Used Truck" prices

[Imcrazy]

Nothing wrong with buying the lease as long as a similar used truck on the dealers lot is about the same cost as what you can buy your truck for.. I bought my lease in a round about way and I paid about the same (+/- $1000.00) as I would have if I bought a used one but, I was willing to pay a little more for the truck that I had owned from day 1..

 

No doubt I am hoping to not repeat the lease to buy cycle again but, I couldn't afford to buy new and leasing wasn't going to cut it again for me with the amount of miles I knew I would be putting on the truck so it was either buy a used truck or buy my lease out and it made more sense... Hoping to pay on this one for 2-3 more years, trade it in and hopefully break even or have a little equity in my loan to roll into a 1-2 year old CPO or new truck and hopefully that will be something I can pay off and have a year or two without payments...

 

Be forewarned: maintenance on these things isn't cheap... I've put $2500 into mine this year between new tires, new shocks, new front brakes, transfer case, transmission and both axle fluid changes & that was all just wear / maintenance items  w/ that said I put almost 25k miles on the truck in a year...

 

I have no regrets buying mine 1 year and 25k miles later...

 

What I do regret: I turned the lease in when I was up on miles with about 8 months left and bought a 2017 Colorado Z71 Crew Cab and chased the old Silverado down and was able to work out a straight trade but, if I recall correctly it was about a $2000 lesson I learned the hard way... The lesson I learned is the Colorado is very small inside and I just couldn't get comfortable driving it and that I won't ever buy a vehicle again that I can't take home for an  overnight test drive...  I realized my mistake within days but, wound up driving the Colorado for about 2 months before I got my old truck back.

[TXGREEK]

Nothing wrong with buying the lease as long as a similar used truck on the dealers lot is about the same cost as what you can buy your truck for.. I bought my lease in a round about way and I paid about the same (+/- $1000.00) as I would have if I bought a used one but, I was willing to pay a little more for the truck that I had owned from day 1..
 
No doubt I am hoping to not repeat the lease to buy cycle again but, I couldn't afford to buy new and leasing wasn't going to cut it again for me with the amount of miles I knew I would be putting on the truck so it was either buy a used truck or buy my lease out and it made more sense... Hoping to pay on this one for 2-3 more years, trade it in and hopefully break even or have a little equity in my loan to roll into a 1-2 year old CPO or new truck and hopefully that will be something I can pay off and have a year or two without payments...
 
Be forewarned: maintenance on these things isn't cheap... I've put $2500 into mine this year between new tires, new shocks, new front brakes, transfer case, transmission and both axle fluid changes & that was all just wear / maintenance items  w/ that said I put almost 25k miles on the truck in a year...
 
I have no regrets buying mine 1 year and 25k miles later...
 
What I do regret: I turned the lease in when I was up on miles with about 8 months left and bought a 2017 Colorado Z71 Crew Cab and chased the old Silverado down and was able to work out a straight trade but, if I recall correctly it was about a $2000 lesson I learned the hard way... The lesson I learned is the Colorado is very small inside and I just couldn't get comfortable driving it and that I won't ever buy a vehicle again that I can't take home for an  overnight test drive...  I realized my mistake within days but, wound up driving the Colorado for about 2 months before I got my old truck back.

Personally, I agree with you on the purchase your lease option, that being the situation you were in. But, the $2500 you spent on maintenance is what you would’ve spent on any vehicle and more with all that work needing to be done. At least you know the vehicle you’re driving from day one, imagine all that work needing to be done if you bought it used without prior ownership, you would’ve thought it was a lemon. At least now you’re more relaxed with moving towards ownership. Good luck and Happy Holidays!


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[Nitrousbird]

17 hours ago, Imcrazy said:

Be forewarned: maintenance on these things isn't cheap... I've put $2500 into mine this year between new tires, new shocks, new front brakes, transfer case, transmission and both axle fluid changes & that was all just wear / maintenance items  w/ that said I put almost 25k miles on the truck in a year...

You need to start turning your own wrenches and price shopping.  That's too much money for those basic maintenance items.

[Imcrazy]

10 hours ago, TXGREEK said:

 

Personally, I agree with you on the purchase your lease option, that being the situation you were in. But, the $2500 you spent on maintenance is what you would’ve spent on any vehicle and more with all that work needing to be done.


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I guess I didn't make my point properly, if you lease those maintenance costs wouldn't be needed so if the OP is driving 12k miles a year and leases stay kinda cheap it's probably cheaper to lease...

[Imcrazy]

6 hours ago, Nitrousbird said:

You need to start turning your own wrenches and price shopping.  That's too much money for those basic maintenance items.

I did my own brakes and shocks / struts.. Can't put my own tires on but, I got a good deal on those at Discount tire, I won't have my truck serviced anywhere but my garage or the Chevy dealer, I spent way to much on the truck to skimp by taking it anywhere but factory certified service locations... There are areas to save a buck and IMO vehicle maintenance ain't one of 'em...

 

$660 to have the transmission fluid & filter changed, both axles drained and filled, transfer case fluid changed including shop fees and taxes at the local chevy store...

$800 after rebates for 4 new Cooper Discoverer ATP tires

$190 for front brake pads & rotors at rock auto

$350 for two front struts and two rear shocks...

________

$2000 total

 

So I guess I was a little off but, yeah it ain't cheap owning and maintaining a truck... Could I have paid $400 for all the fluid changes at the local independent shop? Maybe but, I just don't trust anyone but the dealer to service my truck vehicles...

[TXGREEK]

I guess I didn't make my point properly, if you lease those maintenance costs wouldn't be needed so if the OP is driving 12k miles a year and leases stay kinda cheap it's probably cheaper to lease...

If you financed it wouldn’t have cost you anything either as long as you’re within the 36K mile warranty which is same as leasing.

Finance or Lease both have warranty mileage restrictions.


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[Imcrazy]

23 hours ago, TXGREEK said:

 

If you financed it wouldn’t have cost you anything either as long as you’re within the 36K mile warranty which is same as leasing.

Finance or Lease both have warranty mileage restrictions.


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A 50k truck financed over 36 months is pretty damn expensive per month...Regardless of the down payment, it all adds up to a dollar figure paid over a period of time of use... Leases are so damn cheap these days you can lease a 50k truck for $350 a month over 36 months is $12,600 x 3 leases in a row is 9 years of use and figure a dang good deal on a 50k truck is buying it for $40k new so 3 leases in a row is probably going to save someone about 5-7k over those 108k miles plus you get a new rig every 3 years... I just don't see how it makes sense financially to own a vehicle given the current cheap lease rates if you're driving 10-15k miles a year...

[TXGREEK]

A 50k truck financed over 36 months is pretty damn expensive per month...Regardless of the down payment, it all adds up to a dollar figure paid over a period of time of use... Leases are so damn cheap these days you can lease a 50k truck for $350 a month over 36 months is $12,600 x 3 leases in a row is 9 years of use and figure a dang good deal on a 50k truck is buying it for $40k new so 3 leases in a row is probably going to save someone about 5-7k over those 108k miles plus you get a new rig every 3 years... I just don't see how it makes sense financially to own a vehicle given the current cheap lease rates if you're driving 10-15k miles a year...

I agree that leasing is cheaper than financing but I responded to your claim that leasing would take care of the out of pocket cost. Leasing or financing is a tax deduction either way. Leasing and or financing will give you the same mileage warranty. I’ve leased a few vehicles for my company and though leasing is cheaper you’ll still be expected to perform the same maintenance and if you turn it in with bald tires you’ll be charged premium. Financing, depending on your credit score is the best and here’s why. Financing (for an individual interested in keeping his or her vehicle)is tax deductible, cheaper on insurance, because you’re leasing it’s not yours, builds credit no restrictions on anything. Lease or financing for 5 yrs, get minimum $20 k back on trade in. $0 back with leasing.

 

 

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