Buy vs. Lease, a Detailed Discussion

[2004blackwrx]

I buy. I try to save a car payment every month so I do not need a loan. I hate interest, I am always tempted to lease. The idea of a new vehicle every 3 years is interesting. I figure on average I get 10 years from a car so a 50,000 gladiator cost 5,000 a year plus maintenance. If I lease the same vehicle its 426 a month for 3 years or over 6500 a year. In this scenario it costs more but new truck every 3 years and no maintenance. Too me seems like a wash. I have yet to lease though because IDK how it goes when you turn the vehicle in. Also there is something to say about owning it,
Lastly stop saying truck and electric in same sentence This in 'Merica.

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[Yellow1098]

How are gladiators leasing? I know they have very high residuals which should in theory make the lease cheaper? But from what Iv found they are still pretty high.....any insight?

 

[PsyRN]

how does it go over if you lease from one dealership but get service maintenance at another? say I lease from one these dealerships that are offering below MSRP prices, but none are near me. would there be an issue with my local dealership if I have to take it to them?

 

[Chance_P]

how does it go over if you lease from one dealership but get service maintenance at another? say I lease from one these dealerships that are offering below MSRP prices, but none are near me. would there be an issue with my local dealership if I have to take it to them?

As someone who has first hand experience with this exact situation, no. You won't have any problems.

Service makes $, even on warranty work.

 

[sirphenergan]

As someone who has first hand experience with this exact situation, no. You won't have any problems.

Service makes $, even on warranty work.

I've always bought cars that hold their value (four wranglers) and always leased cars that tank in value (electric cars and essentially every other Jeep model). Maintenance is exactly the same as owning the car. In the dealers eyes, a sale is a sale. Maintenance can be carried out at any dealer in the country, including Puerto Rico (know from experience).

In re: to the vehicle turn-in, it's pretty straight forward. When the lease is up, you take it to any dealer and they inspect it. Sometimes a fee is due, look at your contract, and you pay for any overage in miles or significant damage.
The other option is that you can buy it, sell it, or trade it in at any time during your lease up until the day it is due back. I've only ever turned one in. I've always traded them in for something else before the end of the lease. Bear in mind, the more the value tanks, the less likely you'll be able to trade it in and not be upside down. This is basically the same as buying in this case.

 

[EezyE]

Newbie here and have a question about this. I currently have a Tacoma but really want a Gladiator. I’ve been trying to determine the best route to go. When I do a build out on the Jeep website and look at the payment calculations, if I trade my Tacoma, along with the standard down payment, my lease payment shows a negative monthly payment. I know they aren’t going to pay me to lease a Gladiator, so what am I missing?

 

[Renegade]

Newbie here and have a question about this. I currently have a Tacoma but really want a Gladiator. I’ve been trying to determine the best route to go. When I do a build out on the Jeep website and look at the payment calculations, if I trade my Tacoma, along with the standard down payment, my lease payment shows a negative monthly payment. I know they aren’t going to pay me to lease a Gladiator, so what am I missing?

Is your Tacoma paid off or worth considerably more than you owe? If so, you could get cash back at purchase. If this is the case though, you may be better served by purchasing rather than leasing. You would potentially save interest and sales tax.

 

[EezyE]

Is your Tacoma paid off or worth considerably more than you owe? If so, you could get cash back at purchase. If this is the case though, you may be better served by purchasing rather than leasing. You would potentially save interest and sales tax.

I own it with a clean title. Thanks for the reply.

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