Leasing ?

Leasing ?

This is a discussion on Leasing ? within the F150 Ecoboost Purchasing forums, part of the F150 Ecoboost Forum category; Okay. I've been crunching numbers, and there is no way I can get one of these beauties without leasing it. However, I am a newbie ...

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  1. #1
    Rookie Frankenboost's Avatar

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    Leasing ?

    Okay. I've been crunching numbers, and there is no way I can get one of these beauties without leasing it.

    However, I am a newbie to the game and do not know how it works.

    Basically, my idea is to talk them down to a number I like, then ask them to lease it to me at that price.

    So, for example. An XLT has an MSRP of 43,000, and I talk the dealer down to 32,000 and say "let's lease this baby"....what happens?

    I'm seeing that these are being discounted as much as 12-13k right now, but that is advertised as purchase price. Will dealers give me that for a lease price?

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    Ecoboost Pro Wayne's Avatar

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    How long do you intend to keep the truck? If you are planning to keep for a while then, I think it is better to buy than lease. If plan on a short period then check into leasing. Be careful if you lease and don't put too many miles on or it will cost you .
    2013 XLT Sterling Gray Super Crew 4x4 Max Tow 3:73 gears 6.5 ft box. 302A PKG. Retrax One Bed Cover, Roadmaster Active Suspension. Chrome Boost Bars. Electronic Rust Proofing. Du-Ha under seat storage. Ford Mud Flaps. Bridgestone Dueller LT 275-65R-18 E-Rated Tires. Flagstaff 8528IKWS Fifth Wheel.

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    Ecoboost Pro spyder982's Avatar

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    Leasing never wins. If you can't afford it you can't afford it, nothing wrong with that. I was only able to buy mine because it was part of a hail sale and fit my budget so I could pay cash. And it's an xl haha! Otherwise no truck for me.

    Also with the problems these trucks can have it may hurt your cash flow making ability due to have it being at the dealer a wide range of times (1-5 days) for an attempted repair. Some have zero issues just depends on your cash flow stress test.

    If it was me, my .02 here, I'd get a cheaper slightly used 08 or 10 with the tried true 5.4.

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    Rookie Frankenboost's Avatar

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    Quote Originally Posted by Wayne View Post
    How long do you intend to keep the truck? If you are planning to keep for a while then, I think it is better to buy than lease. If plan on a short period then check into leasing. Be careful if you lease and don't put too many miles on or it will cost you .
    Well, I would lease it knowing that I plan to buy it outright when the lease is up.

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    Eco-Beast 2Canches's Avatar

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    Do not buy a crappy 5.4. Check out a 5.oL if you want a cheaper truck
    http://www.leadingedgetuning.com 91 tune & 87 tow tune

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    Rookie NewEcoBeast's Avatar

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    If you can't afford it then you can't afford it. Don't trying to lease and put yourself in a bad spot. Save your money until you have enough down payment to get your payment where you want it. It's a really bad idea to stretch your budget.

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    Ecoboost Pro spyder982's Avatar

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    Quote Originally Posted by 2Canches View Post
    Do not buy a crappy 5.4. Check out a 5.oL if you want a cheaper truck
    Watch out these are having issues as well.

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    Eco-Beast outlaw25's Avatar

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    I did the math on a lease and it just was not any different then buying. Also you need to come up with a boat load of money up front and you can't drive over 12K miles each year.
    I never could understand how anyone could pay all that money and give the truck back at the end of the lease.
    I agree with others, if you can't afford to buy it then save your money and drive the beater another year, that is what I did.

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    Ecoboost Regular 1fastbob's Avatar

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    Quote Originally Posted by outlaw25 View Post
    I did the math on a lease and it just was not any different then buying. Also you need to come up with a boat load of money up front and you can't drive over 12K miles each year.
    I never could understand how anyone could pay all that money and give the truck back at the end of the lease.
    I agree with others, if you can't afford to buy it then save your money and drive the beater another year, that is what I did.
    My Ford Red Carpet lease is good for 19,500 miles per year so I recommend you check your facts before posting false information. In leasing you essentially pay rent, depreciation and some profit to the leasing company. If you frequently buy new vehicles (every 3 years or so) then leasing may be an option. If you buy, "pay all that money" and trade it , you've done the same thing as leasing (took a hit on the depreciation and wear and tear). Leasing is not for everyone, but for me it isn't all that much different than buying and trading in 2 or 3 years.

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    Eco-Beast Grim Reaper's Avatar

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    Quote Originally Posted by Wayne View Post
    How long do you intend to keep the truck? If you are planning to keep for a while then, I think it is better to buy than lease. If plan on a short period then check into leasing. Be careful if you lease and don't put too many miles on or it will cost you .
    For the average person who cannot deduct their truck off their income taxes, how long you plan to own the vehicle and how many miles you drive every year are your primary factors. With leasing, you do not have any "equity" in the truck and when you turn it in, all the payments are lost. With purchasing, your payments are part interest, part depreciation and part equity ... where you could end up with some money in your pocket when you sell it (your "equity"). The longer you own it, typcially the more equity ... until you own it outright when the loan is paid off.

    However, due to depreciation, if you sold the truck in the first, second or possibly the third year, you could find yourself owing more than the truck is worth.

    HOWEVER, if you can deduct your truck off your income tax (due to a business ... even a small home-based business), leasing could work out better after taxes AND if you need to have a new vehicle every few years.

    In Canada, their is a very low limit on the value of the vehicle you can "capitalize" for your income taxes (current maximum is $30,000 plus taxes ... regardless of the value of the car or truck). I paid more than $30,000 for my truck (plus taxes) and I cannot claim more than $30,000. Also, I cannot deduct the payments made ... I must depreciate the vehicle each year at a prescribed rate and method.

    With leasing, I could deduct the entire amount (up to a certain limit based on a formula). This can allow me to deduct more off my income taxes with a lease versus an outright purchase.
    Last edited by Grim Reaper; 10-14-2013 at 08:05 AM.
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