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2016 Lift it or List it?

ShamrockShooter

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TXGREEK Senior Enthusiast

TXGREEK

Posted
Posted
Paying ANYTHING up front (down payment, damage allowance, or anything else not rolled into the monthly lease payment) is a risk. Anything you put down in a situation where the vehicle is totalled is lost. 

 

The plus side is not paying a money factor (interest) on that amount.  Leases with high money factors result in high rates can actually be decent if it is a cash up front lease.  Some leases also allow MSD's (multiple security deposits) which can lower your money factor but ties up that cash during the lease period.  Obviously credit will impact your MF as well.

 

Region of the country and lender will also impact the MF and residual value.  Sometimes the best lease rate isn't from the manufacturer.  

 

Way too many (actually most) people lease without any real clue how a lease works. This is why dealers love a lease...more profit to them (less discounts on the purchase price), lower payments are easier to sell and you have a return customer in a couple of years.  

 

Absolutely, it’s about making money to each and every dealership as it is when purchasing. My personal experience has always been great when leasing but do understand there are those that know nothing other than it’s suppose to be cheaper payments, balloon payment at the end and then starting over. Personally, I’ve had nothing but excellent experience when leasing a vehicle. Just recently as a graduation present I leased a new high performance Audi for one of my kids. Leased it cause I don’t want her to be stuck with something that she may get sick of, payments were discussed and walked outside after the finance department and found a beautiful Audi with an enormous red bow on it. She’ll just turn it in at the end and move on to the next one, hopefully on her dime. The payments are half the price of finance, great deal to me and comes with full 100% free maintenance. You can get some really great deals out there just have to sometimes haggle as you would when financing.

Oh, and I did zero down too.

 

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Donstar Senior Enthusiast

Donstar

Posted
Posted
54 minutes ago, ShamrockShooter said:

 If I pay the truck off in 3 years it will have 80k miles and been through 6 winters. I am guessing it would be worth $15k to $17k on trade plus a sales tax credit of about $1,200.
 

This sounds better than having $0 equity and $0 tax credit from your lease after 3 years of payments, imo.   Three years will roll around quickly and you'll be starting from scratch financing the full purchase price of a new vehicle.  However, I understand the attraction to leasing a new vehicle.  The greatest attraction for me keeping my  '15 SLE  is that I have no payments.  I regularly look at the '18's and '19's but the pleasure of no monthly payments is more appealing than the "new car smell"!  ;-)

royalkangaroo Enthusiast

royalkangaroo

Posted
Posted
18 hours ago, ShamrockShooter said:

 

I live in the salt belt of NY and my 2016 Z71 has seen 3 winters and 35k. I was thinking of doing a 2 inch lift and heading to the rust proofing outfit I should have used when the truck was new. My undercarriage looks pretty bad, think it's too late?

 

What do you think? Should I Lift it, or List it for sale and buy a 2019 Trail Boss (and head straight to the undercoat shop).642d70b7a07939326dfa72486719d973.jpgdb224ba588da775d1c233b2c018207f7.jpg67c093d0eec60772fe0fa2f9c70c136a.jpg94acc7e281f63fea9cd48cdae212a306.jpg1f6b84750f581d169d5a1bc74c5cb8ae.jpg

 

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One other thing - do you store the truck in a warm garage during the winter?  I'm a believer of storing my vehicle outside.  Less thawing, moisture, and salt activation in my opinion.

ShamrockShooter Senior Enthusiast

ShamrockShooter

Posted
  • Author
Posted
 
 
One other thing - do you store the truck in a warm garage during the winter?  I'm a believer of storing my vehicle outside.  Less thawing, moisture, and salt activation in my opinion.
Outside. All the salty melt water will destroy your garage floor.

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ShamrockShooter Senior Enthusiast

ShamrockShooter

Posted
  • Author
Posted

I don't know folks. I took another look at my frame mid Winter as I was under the truck tonight. It was pretty scary. Big chunks of under coating peeling off ,and I even saw some spots of rust starting on the sheet metal.

I don't have a lift and there is no way I have the time or energy to crawl around on my back and scrape all the loose crap off. I think the final verdict is going to be list it, and maybe buy a Ram or an RST or trail boss And head straight to the Krown shop. I just don't know if I can stomach another wax coated frame.

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