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  #37  
Old 01-19-2016, 06:33 AM
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Re: Leasing a 2015 Overland

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Originally Posted by greenexplr View Post
Sorry for the delay. I've never leased before but always wondered if it was an option for me. I typically put down $4k on my cars (usually used) and generally try to keep my payments under $600 which means I finance for either 60 or 72 months. I'm a consultant for an international firm and travel pretty much every week. Travel can be local or long distance (drive or fly) depending on the year and the different projects I'm on. I typically put between 20-25k miles on my car a year. I've found that I get bored of my cars in about 3 years but because I finance them I often feel like I'm not in a good place equity wise to trade them in. Under this scenario is there any way a lease would work to my advantage financially and personally?
It might.

Lets look at it this way. Currently youre spending 4k down + under $600/month (Lets call it $550 for arguments sake).

If youre only keeping your car for three years, that means you will be spending $19,800 + 4k down payment = $23,800.

There are plenty of high milage leases out there that will give you what youre looking for while also being under $600/month. Technically you are spending $661/month if you divide your 4k down payment.

It all comes down to the caliber of vehicle you want. A 30k vehicle spread over 72 months at 1.9% will be around $450/month. You will own the vehicle but also own the depreciation on it. Where as the leased vehicle will get you a nicer car but you have zero equity stake in it.

Leasing could be an option for you. But then again so could purchasing a vehicle with a lesser MSRP and cutting your monthly payment significantly

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  #38  
Old 01-19-2016, 06:43 AM
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Re: Leasing a 2015 Overland

Not to get into calculations but the fact that you put that many miles a year financing it makes more sense than leasing, look for a 0%-2% finance rate for 60 months and dump the car after 3-4 years.
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  #39  
Old 01-19-2016, 07:07 AM
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Re: Leasing a 2015 Overland

If you put 20-25k miles/year on your vehicles, unfortunately leasing is not an option for you.
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  #40  
Old 01-19-2016, 08:37 AM
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Re: Leasing a 2015 Overland

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Originally Posted by greenexplr View Post
I typically put between 20-25k miles on my car a year. ?
This right here pretty much rules out leasing unless it's a business lease with tax write-off. Leases typically have mileage limits between 10K and 15K miles per year. Overage is expensive and is a charge per mile at lease termination.
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  #41  
Old 01-19-2016, 09:30 AM
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Re: Leasing a 2015 Overland

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Originally Posted by Jim_in_PA View Post
This right here pretty much rules out leasing unless it's a business lease with tax write-off. Leases typically have mileage limits between 10K and 15K miles per year. Overage is expensive and is a charge per mile at lease termination.
Thanks this confirms what I've always thought.
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  #42  
Old 01-19-2016, 07:40 PM
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Re: Leasing a 2015 Overland

green', I leased a number of cars years ago...'even worked for a leasing company for a short period of time. But I didn't "do miles" back then. When that changed, I went back to buying.
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