Gap insurance is a must if you're ever upside enough to make you concerned that if something happens to your truck that you wouldn't be able to cover what regular insurance doesn't (like me). Buy it from your insurance agent though and not the dealer. Much cheaper.

 

K...guys...i really don't care if you think leasing is a great idea or a terrible idea...i understand the benifits to both leasing and buying, bottom line i want to lease a truck. I'd really appriciate to know how much you're all paying so i can get a figure on what its gunna cost me. Thanks...

 

Speaking like a true salesman again!! You may have an inside edge, like you said you are in the business. I'm sure you would get a better deal than the average joe!! My brother-inlaw is in the business also and has finally figured out that leasing is not always the best option. He too used to lease all his vehicles. He was resigned to the fact he would always have a car payment. But then realized he never owned any vehicles. He is still in the business and now purchases his vehicles.

Leasing is not for everyone

 

I think Ryan just wants some numbers. Anybody out there lease?

I don't lease but I kind of wish I had.

 

Go in with the idea of buying. Get all the incentives and the dealers lowest price, then tell them you would like to lease. Have fun, I can feel your pain already. I hate dealing with carsalesman, even my brother inlaw!!

 

Forget it Mark...he thinks you are a preditor.. I leased my Lariat last July. 36720 sticker. Invoice was 32?? 2500 rebate, 1000 for financing thru Ford RedCarpet.. I put 5000 down on a 3yr/36k lease and the payment is 325.. My tax guy is having fun with the numbers right now for my buisness.

I used to drive them into the ground, but I'm sick of working on what I drive. The dealer even threw in 12 oil changes. I like the truck, but 33-34 months into this deal I'll sell it, pay off the lease and jump into a new one with hopefully 400hp.. So far I've got 5300 miles, so I'm way under my mileage quota..

 

I ran the numbers before I took the plunge. Because of the tax write-offs I can realize through the lease, and the fact that I'm not front-loading the sales tax, it's cheaper to lease than buy. I'm leasing for three years, then will likely purchase it outright. I compared both options, and leasing, then paying it out, saved me about $4000 vs. financing it. Paying cash wasn't a good option, with rates as low as they are. I get better return on my money than Ford is charging for theirs. And, if you intend to buy it out anyway, then wear and tear and mileage isn't an issue.

 

If you lease for 3 years then buy you will be paying more than if you bought upfront. If you think you saved 4K I'd like to see your fuzzy math. I personally don't think you can ever come out ahead by buying the vehicle at the end of the lease. You are paying interest during the lease and if you finance after you pay interest all over again. It doesn't make sense!

 

2004 XLT Supercab, exchange to BFG All Terrain tires, Captain's chairs, Mirror package, trailer towing package, adjustable pedals, electronic 4x4 shift, bedliner and canopy included in the lease, low kilometre lease ( 20 000 km/12 500 miles a year) for 36 months. My payments are $550/month including 14% in taxes. Of course these are Canadian dollars. Hope this helps.

 

You guys seem to forget that now even if you purchased you get the small business write off since it's a truck and its not just depreciation. Check into that one.
I can understand why sales leases, the attrition rate is high at most dealerships they move from dealership to dealership and they take smallest lease available, so they can get out from under it quickly, plus the inside incentives and minimum down!
Well Dunk I can tell you for $23 more a month than your lease payment my Lariat which MSRP'd for $38,200 before Xplan and other incentives plus down payment will be mine in 29 more months. Since Kelly rated the 2004 F150 to above average value retention, It puts me in a nice positon if I decide to go to a new vehicle afterwoods, and I'm not locked in to the never ending lease circle.

 

This means nothing unless you state how much you put down, unless you want me to back figure it from a 348.00 payment.. The fact is you have 12-15k tied up in down payment. I guess that works with the lousy interest rates you can get on your money these days, but I have other avenues of income if I keep my money in my back pocket..

Right, about the value. My truck will be worth 20,089 at end of lease with 36k on it according to Ford. I doubt I'll have more than 30k on it and I'll sell it for 23-25k. Which mean I'll get most of my 5k back out of it to start over again.

Buy'em if you want, but right now 300-350 is cheap to me to be driving brand new..and I'm sure I'll like the new 07 I'll slide into.. It may turn into a 250 by then..

 

Ryan, to actually answer your question, instead of bashing us that like the leasing option....I have a 2005 STX SCab 4X4. Put $1200 down and pay $275 a month. There, that was easy. Works for me.

 

Dunk, actually I don't have $15k of my money I have about $8600 of my cash plus the proceeds from the sale of my EXPY (of which I waited too long but glad I did - new 150 style) on a private sale, $4,000 in MFG rebates, $1,000 in rebates for using Ford Motor Credit, at 4.2% and got the vehicle on the Xplan. With the amount of $$ I put into investments every year the actual cash down payment was nothing more than some money making money! Can't see how I will ever fall behind the ball if I buy every three years and since the F150 should retain some value, it's just that much less out of my investments depending on the incentives from the manufacturer. Well that's my story!

 

You're right, we shouldn't have hijacked your thread like that. But the numbers you'll get from people here will be all over the place due to different models, options, down payment, trade-in, term, mileage, etc...... I have customers paying $600 per month; right now, I'm paying $140. I don't see where that helps you, but knowing the EXACT payment on the truck YOU want would. Like I said before, give me the specs and the lease terms you desire in a PM or e-mail, and I'll run them for you. That way, you'll be forearmed with truly useful knowledge when you do go to get your truck.

 

It may seem like funny math to you, but there are other considerations. I'm in Canada, which may change the equation somewhat, but essentially...

The lease rate I paid here is 0.0%. The finance rate was 3.9%. I got equivalent rebates. the sales tax here is charged in full on a purchase, but only monthly on a lease, therefore I'm not paying interest on the tax, if you follow. My math wasn't fuzzy at all - I simply added up all of the lease payments, plus the payments I'd have to pay on the buyout over two years at anticipated interest (I figured 8% on a used vehicle). Then I compared that figure to the total of finance payments I'd have made over the same term. Savings just shy of $3000. Then I factored in the two different tax scenarios, based on my business' marginal tax rate, and the difference in tax implications was a further $900. As far as paying interest twice, once during the lease and once afterwards, that doesn't apply on a 0% deal. It also is no different than paying interest on a financing deal for five years, vs. paying interest on a lease deal for three years, then an additional two. In both cases, you're paying interest on the unpaid balance for five years.

In addition, on a lease I didn't have to put any money down, while on the finance deal I did. I lend money for a living, and typically generate a return of upwards of 12%, so it doesn't make sense for me to put money down when I don't have to.

At the end of the day, everybody's financial situation is going to be different, and that's why it's important not to make blanket statements about the financial advisability of leasing vs. purchasing, and expect those statements to apply equally to everybody. That would be like expressing a preference for 4wd over 2wd, or 3/4 ton over 1/2 ton, without taking into account the needs of the vehicle owner. IMHO.