Buy or Lease Poll?

[AZ79]

Are folks buying or leasing? Do we know the approximate residual value percentage? Better to lease considering potential new generation issues and return it at lease end and while still within warranty period? Is that safer route with new vehicle like this? Thanks!

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[ilbastarge]

Are folks buying or leasing? Do we know the approximate residual value percentage? Better to lease considering potential new generation issues and return it at lease end and while still within warranty period? Is that safer route with new vehicle like this? Thanks!

There were leasing details posted somewhere about November I think. For shorter term leases, at least one dealer here is offering a guaranteed buyback (however leasing works).

Try The Goog with "b6g" and "residual value" and bet you'll get a few good responses.

 

[RagnarKon]

(FYI... the forum system they're using has the ability to post a poll.)

Buying.

Never leased a vehicle in my life, likely never will.

Don't like the idea of paying $500+ a month for 4 years only to give the vehicle back at the end of the lease term. If I'm going to drop tens of thousands of dollars on some piece of property, I at least want to end up with some equity in the property at the end. This is also a big reason why I think renting an apartment/house is a total waste (albeit sometimes necessary in today's society).

Admittedly vehicles are usually a crap shoot in the end given the deprecation typically outpaces your loan principle. BUT at least at the end of the loan I have the option to drive the vehicle for at least another 5-10 years without having to worry about a car payment.

 

[frankk]

I'm buying because I plan to own it for a decade. If you're not sure (for many reasons) you can always negotiate the best lease deal you can. Put minimal down and wait it out. If, at the end of the lease, the Bronco buy out is less than the current market and you still want it, you typically have the right of first refusal on a lease. So they're not going to take it away.

If you wind up buying, it'll probably cost you less than $2K vs buying from the beginning. So depends on your desire to own long term vs your potential reasons to bail .

 

[AZ79]

@frankk @RagnarKon I see now there is a way to do a real poll. Next time! New to this. I guess my question is less about leasing vs buying general principles and more about the idea that subsequent year bronco models may improve upon first 6g model issues and better to lease than buy and get stuck owning a new 2021/2022 generation that has kinks that are eventually ironed out in subsequent models. With leasing you can return it. Or buy it at end if you choose. Let’s skip the production delay jokes for now but hopefully that makes sense. Hypothetically- Imagine in future everyone says first 6g 2021/2022 was a dud year nobody would touch (buy used) and 2024 was the year Ford fixed the growing pains. “Don’t buy anything g before 2024 model”. Thanks!

 

[frankk]

@frankk @RagnarKon I see now there is a way to do a real poll. Next time! New to this. I guess my question is less about leasing vs buying general principles and more about the idea that subsequent year bronco models may improve upon first 6g model issues and better to lease than buy and get stuck owning a new 2021/2022 generation that has kinks that are eventually ironed out in subsequent models. With leasing you can return it. Or buy it at end if you choose. Let’s skip the production delay jokes for now but hopefully that makes sense. Thanks!

Ahh...now that's a really good reason why you're "not sure". Who knows what the 6G MY24 will offer, or whether Jeep's ultimate response will be compelling. Maybe International will re-enter the game. A lease will cost you a few grand extra if you stick with your Bronco and a whole lot less of you bail.

 

[Dlerojo]

@frankk @RagnarKon I see now there is a way to do a real poll. Next time! New to this. I guess my question is less about leasing vs buying general principles and more about the idea that subsequent year bronco models may improve upon first 6g model issues and better to lease than buy and get stuck owning a new 2021/2022 generation that has kinks that are eventually ironed out in subsequent models. With leasing you can return it. Or buy it at end if you choose. Let’s skip the production delay jokes for now but hopefully that makes sense. Hypothetically- Imagine in future everyone says first 6g 2021/2022 was a dud year nobody would touch (buy used) and 2024 was the year Ford fixed the growing pains. “Don’t buy anything g before 2024 model”. Thanks!

So just buy one and if a better version comes out down the road trade it in.

You have to have really specific circumstances to make a lease worthwhile.

 

[2050Broncoorsomething]

I’m buying because I’m planning to have low miles and keep it for a long time. Like hand it down to the kids long time and I’m 30.

 

[PrepVet]

I would consider leasing but I can’t see how it is a good idea.

For my build the Ford website says for a lease:
-$5,000 down
-10,500 miles a year
-3 or 4 years
-$400 a month
-own nothing at the end (possible bill for mileage)

Buying:
-$15,000 down
-longer term
-$400 a month
-own the car at the end

 

[goatman]

Are folks buying or leasing? Do we know the approximate residual value percentage? Better to lease considering potential new generation issues and return it at lease end and while still within warranty period? Is that safer route with new vehicle like this? Thanks!

Leasing is for folks who always have a car payment, so it's best to have the lowest payment and least down payment. Leasing is less cost than buying and trading it in every few years and never paying the vehicle off. Buying is the only thing to do if you plan to keep the vehicle and pay it off. So, the decision is about what odds you think you have of keeping it or getting rid of it after a few years. Seriously, there are no other considerations. I spent 29 years in dealership management, nothing anyone tells you other than this has anything to do with whether you buy or lease.

Now, if you're not sure, and you want to lease to be safe, then you will have the option of turning it back in or buying it at that time, but overall you will spend more leasing it and then buying it than if you bought it in the first place.

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