Leasing Cars

[madsen203]

Started test driving cars this past weekend, so the process has finally begun.

The info in this thread was very helpful and lead me down the right path to what to research.

The Edmunds lease info in their forums was probably the most valuable.

Currently shopping vehicles with good MF and residual value, found a few vehicles with great reviews I honestly wouldn't have considered and it took some vehicles out of the running I was considering.

Finding that some more expensive/nicer vehicles would cost us less than ones more in our price range if we were buying.

Thanks to those that helped!

This thread has shown me the light. I will be leasing from now on. Car payments can be super low and the true cost of driving comes out to about $.50/mile plus insurance which is way cheaper than most options outside of driving a bucket that you wonder if it will leave you stranded. $.50/mile for a new car every 2 years with the latest technology, comforts, etc is not too shabby. My last beater was $2k and after all said and done it still was $.40 something per mile and it was a crappy old SUV with all of the repairs, being left stranded, old school fuel economy, etc.

We will keep the one toyota car since it's already paid for and lease the second vehicle.

I was told you can lease a Denali for around $400/mo. Found a buddy who leased a legit mercedes for $275/mo.

I'll be retreating to this thread for more questions and answers in the coming year when I jump on the leasing train.

 

[stan23]

Started test driving cars this past weekend, so the process has finally begun.

The info in this thread was very helpful and lead me down the right path to what to research.

The Edmunds lease info in their forums was probably the most valuable.

Currently shopping vehicles with good MF and residual value, found a few vehicles with great reviews I honestly wouldn't have considered and it took some vehicles out of the running I was considering.

Finding that some more expensive/nicer vehicles would cost us less than ones more in our price range if we were buying.

Thanks to those that helped!

Good luck! Car shopping can be much more enjoyable when you have all the tools.

The best leases are the end of life models. Surprisingly, those don't drop in value as much as one would think even with a new model out. There are always market for last of the body style year buyers out there. Meaning, when you are done with the lease, it will be worth more than what the residual is. That's where the magic happens.

But to a manufacturer, those are the cars they want to move, and want to move NOW.

 

[madsen203]

Good luck! Car shopping can be much more enjoyable when you have all the tools.

The best leases are the end of life models. Surprisingly, those don't drop in value as much as one would think even with a new model out. There are always market for last of the body style year buyers out there. Meaning, when you are done with the lease, it will be worth more than what the residual is. That's where the magic happens.

But to a manufacturer, those are the cars they want to move, and want to move NOW.

This is good to note. I will be hopefully utilizing this trick with a new F-150.

 

[RightCoastBias]

Good luck! Car shopping can be much more enjoyable when you have all the tools.

The best leases are the end of life models. Surprisingly, those don't drop in value as much as one would think even with a new model out. There are always market for last of the body style year buyers out there. Meaning, when you are done with the lease, it will be worth more than what the residual is. That's where the magic happens.

But to a manufacturer, those are the cars they want to move, and want to move NOW.

It's also nice when mfgs inflate residual value and prop up a low MF.

A brand, I never would have considered, Kia, has a really great reviews for the Sorento. I think the Pilot takes the high spot in the category, but all the reviews and owner shit I'm reading is really positive. Going to test drive one, as well as the Pilot, and see what they're like.

To my original point, and yours, the 2017s in certain trims have 65+ % residual values and decent MFs. The 2018s have lower residual value, but also have lower MFs by 1/2 in some cases.

It's interesting to play with numbers like that and see what the cost of the car is.

 

[stan23]

It's also nice when mfgs inflate residual value and prop up a low MF.

A brand, I never would have considered, Kia, has a really great reviews for the Sorento. I think the Pilot takes the high spot in the category, but all the reviews and owner shit I'm reading is really positive. Going to test drive one, as well as the Pilot, and see what they're like.

To my original point, and yours, the 2017s in certain trims have 65+ % residual values and decent MFs. The 2018s have lower residual value, but also have lower MFs by 1/2 in some cases.

It's interesting to play with numbers like that and see what the cost of the car is.

We did the Pilot back in '15 (which was the last year of the previous body style)

Got a 4WD EX-L for a good deal, sold the car to the dealer 2 years into the lease and came out with extra cash because they held their value so well.

In hindsight, that was one of the best cars we've ever had. It was just so good at everything.

I like the things Kia is doing. The stinger looks like a winner to me.

 

[Aeroslash]

Been doing some learning from this thread and also on Leasehackr.com. Man there are some insane lease anecdotes on that site - good news for us is that most are based in CA since there are so many competing dealers.

I'm currently hassling a few Bay Area dealers for a deal on a 2017 VW Tiguan. It's the final year of that generation Tiguan and the dealers are eager to free up space for the new SUVs. It's also a bit of an oddball in the SUV market - smaller, thirstier and higher MSRPs than the competion - so not a great seller.

I'm hoping to get one for $180/mo, zero down , 3/30.

Will update the thread with my results...