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15 hours ago, BobbyPhil1781 said:

So I've never leased before but I'm thinking of doing a lease with my next car bc the prices of cars is so insane right now. I can get the car I want with little down and the payments are good with me. Assuming I like the ride, I'm going to opt to purchase it after the lease is up. As someone who's naive, are there disadvantages of going this route? 

The most obvious thing for me would be the potential mileage limits if you drive a lot.

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On 1/17/2022 at 11:33 PM, Neumatic said:

Oh boy, I just need to keep myself off of Facebook Marketplace. I have no where to put stuff, but I damn well still want it. Its a curse. Anyone else fall victim to their own lack of self control when it comes to vehicles?

I can't say that has ever happened to me.  Vehicles are the absolute opposite of an "impulse buy" scenario for me.

 

What sort of thing are you breaking that rule for?

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8 hours ago, Tugboat said:

I can't say that has ever happened to me.  Vehicles are the absolute opposite of an "impulse buy" scenario for me.

 

What sort of thing are you breaking that rule for?

This one was a race car, didn't get it though. If I had the garage space right now I would have tried, I know the car and the shop that built the chassis, it was worth every penny. Only downside was Im not a huge fan of the 4th gen Camaro's but for a dedicated race car id be fine with it.

I love old classic cars and trucks, most anything '72 and older by any of the big 3, G Body cars, 70's-80's trucks im always interested in as well. Main car i have been on the look out for lately has been a 1962 Impala 2dr hard top, be hard to pass one up if i find a decent deal. Been wanting it for my dad, its his favorite car and he use to have one when he was younger. I got a 1952 Chevy 4100 1.5ton flat bed, that was 100% an impulse buy. 1957 Chevy 3100, a little more thought went into that purchase than just an impulse buy but at the end of the day i wasn't going to pass up the opportunity on a '55-'57 Chevy truck with minimum rust (58 and 59's are nice too, just not a fan of the 4 headlights). Thats the next project once i get to a place Im happy with my 2010 Camaro I've built for drag week type events.

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On 1/16/2022 at 3:47 PM, BobbyPhil1781 said:

So I've never leased before but I'm thinking of doing a lease with my next car bc the prices of cars is so insane right now. I can get the car I want with little down and the payments are good with me. Assuming I like the ride, I'm going to opt to purchase it after the lease is up. As someone who's naive, are there disadvantages of going this route? 

I leased a vehicle for years. It really depends on view and goal. I leased the vehicle I commuted with. It allowed me to never have major repairs and always be in a relatively new vehicle. I’m also not a fan of financing depreciating assets. Everyday vehicles are a cost not an investment and leasing allows a fixed cost. I’m retired so I purchase everything now. My wife will certainly out live me and I wouldn’t want to leave her with a lease on a vehicle she might not like. Or would simply prefer to have her options open. For the record she drives a 2001 Honda Prelude. She will no doubt be buried in it. 

I wouldn’t lease with the goal of owning. When they structure the lease they frequently place to high a residual value that’s higher than market for the vehicle. Frequently the buyout Isn’t worth it unless it’s a vehicle you really, really like.

You can structure a lease to whichever mileage allowance suits your driving habits. 

One other item to consider is a walk away option. For a pre set amount you can walk away at lease end. It eliminates potential costs for tires, excess mileage etc. The value of such a package can be determined simply by calculating how much wear will be on your tires etc. 

Leasing is really a personal choice based on vehicle use, how long you plan to use it, etc.

For our purposes leasing was a great choice.

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1 hour ago, diehardlionfan said:

I leased a vehicle for years. It really depends on view and goal. I leased the vehicle I commuted with. It allowed me to never have major repairs and always be in a relatively new vehicle. I’m also not a fan of financing depreciating assets. Everyday vehicles are a cost not an investment and leasing allows a fixed cost. I’m retired so I purchase everything now. My wife will certainly out live me and I wouldn’t want to leave her with a lease on a vehicle she might not like. Or would simply prefer to have her options open. For the record she drives a 2001 Honda Prelude. She will no doubt be buried in it. 

I wouldn’t lease with the goal of owning. When they structure the lease they frequently place to high a residual value that’s higher than market for the vehicle. Frequently the buyout Isn’t worth it unless it’s a vehicle you really, really like.

You can structure a lease to whichever mileage allowance suits your driving habits. 

One other item to consider is a walk away option. For a pre set amount you can walk away at lease end. It eliminates potential costs for tires, excess mileage etc. The value of such a package can be determined simply by calculating how much wear will be on your tires etc. 

Leasing is really a personal choice based on vehicle use, how long you plan to use it, etc.

For our purposes leasing was a great choice.

This is all good info. Thank you. 

Since Covid, I'm 100% work from home. I went from putting 22k miles a year on my car to 4.5k lol. For this reason, mileage simply won't be a factor. 

Until I started this discussion, I wasn't aware of the problems with buyouts. I guess I could just lease it for a few years then hopefully the car economy will right itself and the shortage will be a thing of the past and costs will go down and I'll just buy a different car of the same model, used, assuming I like the ride. I don't like buying new cars anyway. The value of my Mazda 3 has doubled what it was 2 years ago. I just hate leasing for the same reason I hated renting. Giving people money with nothing towards ownership. This scenario though, with a car type I've never owned that seems a little particular to the driver (the transmission) and the shortage causing price hikes, I'm hoping things cool down by the time the lease ends and inflation is under control. I'll be able to save during this time as well. 

Congrats to your wife for being able to drive a '01 model!! Impressive lol. I work in the tech field and craving new tech is my weakness. I see people with all these bells and whistles in new cars and I'm here in my '12 and it annoys me lol. 

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On 1/30/2022 at 10:13 AM, BobbyPhil1781 said:

This is all good info. Thank you. 

Since Covid, I'm 100% work from home. I went from putting 22k miles a year on my car to 4.5k lol. For this reason, mileage simply won't be a factor. 

Until I started this discussion, I wasn't aware of the problems with buyouts. I guess I could just lease it for a few years then hopefully the car economy will right itself and the shortage will be a thing of the past and costs will go down and I'll just buy a different car of the same model, used, assuming I like the ride. I don't like buying new cars anyway. The value of my Mazda 3 has doubled what it was 2 years ago. I just hate leasing for the same reason I hated renting. Giving people money with nothing towards ownership. This scenario though, with a car type I've never owned that seems a little particular to the driver (the transmission) and the shortage causing price hikes, I'm hoping things cool down by the time the lease ends and inflation is under control. I'll be able to save during this time as well. 

Congrats to your wife for being able to drive a '01 model!! Impressive lol. I work in the tech field and craving new tech is my weakness. I see people with all these bells and whistles in new cars and I'm here in my '12 and it annoys me lol. 

That car is a funny story. We purchased it new and it has 103,000 km. For years my wife didn’t drive. We lived in the greater Vancouver area and I begged her to get her license. Not only did I commute but had to shuttle the kids, drive her for groceries etc. 

I eventually got transferred to a smaller city and I said, “if you get your license I will buy you any car you want.” She got her license so…….she wanted a Prelude. It was 2002 so I didn’t think we would find a new one. Well, I found one, we went to the dealership to see it. After the test drive etc. was done I was in the office with the salesman ( my wife was still out looking at her car) and his first words were to the effect that he saw my wife’s reaction so there was no negotiation room. It didn’t hurt that there were only two new Preludes left in Canada that I could find. 

She loves that car and very few years I ask if she’s ready for something new. She always says no. This year for her birthday the car will get some cosmetic work done and a new coat of paint.

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On 1/29/2022 at 1:06 PM, BullsandBroncos said:

Wife just got a Lexus GX. Gas mileage isn't great as with all Lexus but my son will probably be able to give it to his children in 50 years

I just bought a GX460 for the Wife a couple of months ago.  The V8 does indeed drink gas but it is built like a tank and is a real pleasure to drive.  Port injected, timing chain, 6-speed auto, ladder frame.. these things are considered old tech nowadays but should last 20-30 years compared to all of the boosted, direct injected, 10-speed crossovers being pumped out now. 

To mitigate the only potential weaknesses on Toyotas/Lexus' (frame rot), I sprayed the hell out of the underside with cosmoline.  Should be sealed up for 3-4 years until it's time to do it again. 

IMG-2240.jpg

I also have a 2015 Tacoma TRD offroad and a 2005 Evo MR (been broke since 2018) that I'll eventually get back on the road again. 

Inked-IMG-2239-LI.jpg

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8 minutes ago, ///mcompact said:

I just bought a GX460 for the Wife a couple of months ago.  The V8 does indeed drink gas but it is built like a tank and is a real pleasure to drive.  Port injected, timing chain, 6-speed auto, ladder frame.. these things are considered old tech nowadays but should last 20-30 years compared to all of the boosted, direct injected, 10-speed crossovers being pumped out now. 

To mitigate the only potential weaknesses on Toyotas/Lexus' (frame rot), I sprayed the hell out of the underside with cosmoline.  Should be sealed up for 3-4 years until it's time to do it again. 

IMG-2240.jpg

I also have a 2015 Tacoma TRD offroad and a 2005 Evo MR (been broke since 2018) that I'll eventually get back on the road again. 

Inked-IMG-2239-LI.jpg

That's sick man! I have a 2015 TRD Off Road Tacoma too! and she has the Lexus. I've undercoated the Tacoma and there's nothing going on with the frame that I could see. Love the bulletproof engines in them both. I'm lucky with the frame I think because I'm in Texas but now that I'm living in South Padre Island I'm worried if living next to the ocean may have an effect on that.

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Just now, BullsandBroncos said:

That's sick man! I have a 2015 TRD Off Road Tacoma too! and she has the Lexus. I've undercoated the Tacoma and there's nothing going on with the frame that I could see. Love the bulletproof engines in them both. I'm lucky with the frame I think because I'm in Texas but now that I'm living in South Padre Island I'm worried if living next to the ocean may have an effect on that.

giphy.gif

 

Great minds think alike!  2015 is the last year of the best generation of Taco.  That 4L 1GR-FE is damn near nuke-proof and the GX's V8 is the timing-chained successor to the million-mile tundra engine.  

South Padre Island.  Nice!  We went there a few times when I was a kid when I lived in Texas.  I live in the Midwest now, so while we don't have the naturally occuring salt you have from the coast, we do have the man-caused oversaturation of salt in the Winter.  Trucks in particular can get eaten up.

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1 hour ago, ///mcompact said:

giphy.gif

 

Great minds think alike!  2015 is the last year of the best generation of Taco.  That 4L 1GR-FE is damn near nuke-proof and the GX's V8 is the timing-chained successor to the million-mile tundra engine.  

South Padre Island.  Nice!  We went there a few times when I was a kid when I lived in Texas.  I live in the Midwest now, so while we don't have the naturally occuring salt you have from the coast, we do have the man-caused oversaturation of salt in the Winter.  Trucks in particular can get eaten up.

That's the truth! I'm from New York so the salt on the coast won't be as bad as the salt in a northeastern winter.

 

currently looking for radio swaps for the 2015 taco

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On 1/28/2022 at 2:12 PM, Neumatic said:

This one was a race car, didn't get it though. If I had the garage space right now I would have tried, I know the car and the shop that built the chassis, it was worth every penny. Only downside was Im not a huge fan of the 4th gen Camaro's but for a dedicated race car id be fine with it.

I love old classic cars and trucks, most anything '72 and older by any of the big 3, G Body cars, 70's-80's trucks im always interested in as well. Main car i have been on the look out for lately has been a 1962 Impala 2dr hard top, be hard to pass one up if i find a decent deal. Been wanting it for my dad, its his favorite car and he use to have one when he was younger. I got a 1952 Chevy 4100 1.5ton flat bed, that was 100% an impulse buy. 1957 Chevy 3100, a little more thought went into that purchase than just an impulse buy but at the end of the day i wasn't going to pass up the opportunity on a '55-'57 Chevy truck with minimum rust (58 and 59's are nice too, just not a fan of the 4 headlights). Thats the next project once i get to a place Im happy with my 2010 Camaro I've built for drag week type events.

Fair enough.  I've always wanted to get myself a "project car" whenever i actually have the financial means to tinker around, and the physical space to work on it.  But the e30 BMW 3-series stroker project i'd always had in mind is quickly running away into insane prices territory.  So...i'm really not sure what it'll even be at that point.  It might just never happen, because of the way prices on worthwhile project cars have gone through the roof in the last half dozen years or so.  

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On 1/30/2022 at 6:45 AM, diehardlionfan said:

I leased a vehicle for years. It really depends on view and goal. I leased the vehicle I commuted with. It allowed me to never have major repairs and always be in a relatively new vehicle. I’m also not a fan of financing depreciating assets. Everyday vehicles are a cost not an investment and leasing allows a fixed cost. I’m retired so I purchase everything now. My wife will certainly out live me and I wouldn’t want to leave her with a lease on a vehicle she might not like. Or would simply prefer to have her options open. For the record she drives a 2001 Honda Prelude. She will no doubt be buried in it. 

I wouldn’t lease with the goal of owning. When they structure the lease they frequently place to high a residual value that’s higher than market for the vehicle. Frequently the buyout Isn’t worth it unless it’s a vehicle you really, really like.

You can structure a lease to whichever mileage allowance suits your driving habits. 

One other item to consider is a walk away option. For a pre set amount you can walk away at lease end. It eliminates potential costs for tires, excess mileage etc. The value of such a package can be determined simply by calculating how much wear will be on your tires etc. 

Leasing is really a personal choice based on vehicle use, how long you plan to use it, etc.

For our purposes leasing was a great choice.

Yeah.  That's the thing.  You really have to figure out what your end-goal is with things.  If you just want to casually have a "new car" every few years and never deal with anything, leasing is terrific.  It's a smart way to go.  If you want to own the car and have it for a long time though...you're probably better off just financing it to own in the first place.

 

But it's obviously tough to know that, with a car you've never owned and barely driven.  How much commitment do you want?  Depends on how much you enjoy it...???  It's basically gambling.

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