Do the math. I would bet if you buy the vehicle at the end of the lease with payments spread out over 36, 48, or 60 months you are sure to pay substantially more than if you had bought the vehicle out right in the begining. I realize that each persons situation is different.

 

Equity is something non existing in a leased vehicle..Most of the time people lease because they can drive a car or truck they can't really afford...In the end it cost them more and the dealers are the ones that make out on lease deals.

 

Hovy, go up and read my post about the Ford Red Carpet Option. Tell me I'm wrong about what they are selling for now and what the same truck will sell for 3 years from now...??

I see 3-5k coming back at me when I sell the 04' Lariat in 3 years. Sometime between now and then I'll buy the extended warranty and just add the cost to the truck when I sell it.

Yes, there's no equity in the deal if I just drop it off at the dealer when the time is up...

Besides that fact being a Marine Surveyor my biggest cost outlay is traveling to the boat I'm going to survey. I can either write off the lease, well 80% of it or the mileage at whatever rate the IRS decides on now that fuel has jumped up 50-60-70 cent a gal. Last year it was 38 cents a mile.. Probably go to 45-50 cents a mile this year??

 

I have played the lose money game in trucks for quite a while, to long to be honest.
I have owned my own construction company since 1968 and have bought lots and lots of equipment. Some are even leased but in the heavy equipment game you sometimes need a piece of equipment for a short time.
With my personal tucks I sort of trade or sell every two to three years. My personal truck is not used by the help and I find my friends line up to buy them from me.
I do get to deduct the depreciation - expenses and my accountant ( who has taught me well over the years) advises that my way is saving e a lot of money and I agree with him...Most of my heavy equipment I run into the ground and then wholesale them. these are either bought outright or financed only during "lean" times.
For quick example I just sold a 2002 f250 v 10 lariat with 35000 miles on it for 24500.00 I paid 29200 three years ago....I did the numbers on a lease and the difference was HUGE! I just can't understand why people think that leasing is the way to go...Maybe in some special cases but for the most part the consumer come out on the bottom.
Just a little note, for 10 years now I haven't needed to use a bank for anything. This is such a freedom that until you can get away from paying interest you will not really know what I mean....Most of this good fortune was being educated early in my business by either my self or my buddy accountant.
Like it was pointed out earlier each case is different.

 

Hovy, agreed...but I don't use my truck in the construction biz. Believe I know the biz. I was a Carpenter and a GC years ago. A truck on lease subjected to that type of use and you would eaten alive at end of the lease for damage done..

My truck see's highway mileage and some towing of the 3500lb boat back and forth to the Keys once a year and maybe a few other 100-500miles tows to North Carolina.

My biggest problem right now with the new truck is putting Barnacle in it. He's a 120lb Chessy/water rat. I'm figuring on just taking the original carpet out of the truck and replacing it with a similair color carpet thru the whole cab of the Scab. Anyone who's ever owned a Chesapeake Bay Reteriver will understand what I'm saying. These meatheads shed like something you read about. Dog hair blows everywhere in the truck. The plastic interrior is easy enough to clean, but the flying dog hair will eventually glue itself to whatever carpet is in the vehicle.

Of course a good seat cover is needed for rear seat, but thats only the start of protecting it from Barn..

No, he's not riding in the bed..................

 

WOW! Those are great dogs! But like you said a darn hair factory!
You fish down there?