Lease questions

[T800]

Since I always buy, yet haven't paid off a vehicle in about 20+ years, thinking of leasing this time around and see if it's 'a keeper' first. Been having bad luck with vehicles having problems and just not wanting to keep them after the warranty expires.

I've never leased before. So am I still looking for the best price before financing is discussed? Or is lease payment really all I should be concerned about?

Additionally, would I save money ordering one? Or just finding one in a dealers inventory?

Currently thinking an Outer Banks with the 2.7, color matched top, heated seats. I'd like the Sasquatch package, but don't need lockers really. So looks like it would be less to add a basic lift and 35" tires after. Problem with a lease is I'd have to keep all the parts and return it to stock if I return it.

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[CalvinT]

I had a roommate who always wanted a newer car. She was pretty close with a dollar. She leased since she didn't have as much money tied up in the vehicle. The terms of the lease make a difference. Some are better than others. When I bought my Subaru in 2002, my credit union offered leases. I took out a five year lease, then bought the car after five years.

There was an unexpected benefit. No sales tax. Arizona does not charge sales tax for products being delivered out of state. My credit union is in Virginia and they were listed as owner on the title. Out of state owner? No sales tax. The dealership just followed the rules as given to them by the State. Sales tax was due on the amount I paid the credit union when I bought it from them.

 

[rugedraw]

For a lease, you always negotiate the payment. Just like in finance deals, there is interest involved in a lease. However, the lease rates do not have to be disclosed to customers verbally nor on the contract, so they can sell you the vehicle under invoice and mark up the rate.

With the exception of Granger who likes to drop their pants when it comes to the selling price before the customer even asks for a discount, most dealers that actually like to make a profit selling vehicles will be more inclined to heavily discount a vehicle that has been sitting on their lot for a long time than a factory order or recent arrival.

Lease acqusition and disposition fees cannot be negotiated. They are set by the bank and not the dealer. Lease end residual values are also non-negotiable. The only way the residual value will change is it if you get more or less miles per year that you can drive.

Hope this helps.

 

[F-Spot]

You probably won't find many examples of great Bronco leases at the following website, but I always suggest my friends use leasehackr.com when researching a new lease.

 

[not on the rug]

In many cases, leasing is the best option for a consumer. Most folks think they want to buy a vehicle and keep it forever, but in reality by the time they pay it off 5-7 years later it has 100k+ miles on it, it's out of warranty and it starts nickel and diming you to death. With leasing you get a new car every couple of years, never pay for a single repair or tire or anything besides oil changes and wiper blades (and those are even included or able to be negotiated) in many leases.

If you don't need a top of the line/high end model/trim, you can get some pretty amazing lease deals. Some vehicles lease vetter than others too.

That being said... we usually lease for my wife and buy for me. I never keep anything stock and most of my builds become moar horsepowerz types of builds.

I leased my '24 Wildtrak because I don't trust Ford at all and wasn't sure what my plan would be or how these 6g Broncos would hold up after a few years. I also got a great deal. It helps to know people. At this point, I think we may buy it out at the end and I'm going to give it to my wife for her daily and move on to something a little more exciting.

 

[Iceman62]

Been leasing my wife's vehicles since 2007, and it's pretty much working a payment that fits the budget. One thing new this year was our Jeep dealer only leases "loaner" vehicles after they have 1K miles...we thought weird. It's still treated as a new vehicle lease, and I inspected the vehicle with a magnifying lens. All is well...it is nice getting a new vehicle every 3-4 years and they're always under OEM warranty.

 

[23OBX2.7]

I always lease to get the write offs and derisk getting a POS and use free capital to earn far more than would be saved by avoiding finance costs.

Always have the option to buyout any time with out having to pay full term interest is key. Just pay interest to date of buy out.

Quality on vehicles today is so poor leasing is the best way especially on Bronco where Ford finance has ridiculously high risiduals the paymenst are stupid low for new price.

I just strip modes and upgrades off when returning or selling, unless invisible and a pain to remove.

 

[BillyB]

I have done several 2-3 year vehicle leases over the past decade...Land Rover and Toyota...and had mostly good experiences...in 2018 with Land Rover, I got an uncommon 2-year lease on an Evoque (not yet trusting this vehicle's reliability) which has a slightly higher monthly but a higher residual value...in 2019 with Toyota 4Runner, I did a trade-in with my 2014 4Runner and leased the remaining amount, and in this process got $20K back to me from dealer...in 2020 with a Range Rover and the pandemic, the residual values were great, and I got a very good residual value credit on the Evoque as a trade-in...since these I've gone to scraping together as much cash and gone to slightly used vehicles with less than 6k miles, in order to get my "discount" over new.
So lessons learned...pay attention to residual value as it's locked in from the start...and if the lease isn't working, know that dealers should take a leased vehicle in-trade and pay off your lease (payoff early clause in contract)...and finally, know that it's worth shopping for that just-off-new vehicle that get back into the market in a short period of time with low miles (buyers remorse?).
And all of this is what led me to my 2024 Bronco BD (MSRP $51k) for purchase price of $41k in Oct 2024 with about 6k miles, and never been so so happy with a vehicle ever since...

 

[T800]

I have done several 2-3 year vehicle leases over the past decade...Land Rover and Toyota...and had mostly good experiences...in 2018 with Land Rover, I got an uncommon 2-year lease on an Evoque (not yet trusting this vehicle's reliability) which has a slightly higher monthly but a higher residual value...in 2019 with Toyota 4Runner, I did a trade-in with my 2014 4Runner and leased the remaining amount, and in this process got $20K back to me from dealer...in 2020 with a Range Rover and the pandemic, the residual values were great, and I got a very good residual value credit on the Evoque as a trade-in...since these I've gone to scraping together as much cash and gone to slightly used vehicles with less than 6k miles, in order to get my "discount" over new.
So lessons learned...pay attention to residual value as it's locked in from the start...and if the lease isn't working, know that dealers should take a leased vehicle in-trade and pay off your lease (payoff early clause in contract)...and finally, know that it's worth shopping for that just-off-new vehicle that get back into the market in a short period of time with low miles (buyers remorse?).
And all of this is what led me to my 2024 Bronco BD (MSRP $51k) for purchase price of $41k in Oct 2024 with about 6k miles, and never been so so happy with a vehicle ever since...

Makes sense. I haven't ruled out used vehicles with low mileage. I was looking at those thinking if it might be better to buy, but didn't think those could also possibly be leased. I've also been checking Carvana for used. Though not a lot of Bronco's on there. More quantity of Jeeps, which is currently my second choice (wife doesn't want me to get another Jeep lol).

 

[T800]

I always lease to get the write offs and derisk getting a POS and use free capital to earn far more than would be saved by avoiding finance costs.

Always have the option to buyout any time with out having to pay full term interest is key. Just pay interest to date of buy out.

Quality on vehicles today is so poor leasing is the best way especially on Bronco where Ford finance has ridiculously high risiduals the paymenst are stupid low for new price.

I just strip modes and upgrades off when returning or selling, unless invisible and a pain to remove.

Quality has been my complaint. Really wanted my Ram 1500 at the time. Now a little past two years and it's been in for warranty issues 6 times. So not really trusting it long term. I figure the lease would be nice because I can turn it in if it's been a headache.

 

[T800]

In many cases, leasing is the best option for a consumer. Most folks think they want to buy a vehicle and keep it forever, but in reality by the time they pay it off 5-7 years later it has 100k+ miles on it, it's out of warranty and it starts nickel and diming you to death. With leasing you get a new car every couple of years, never pay for a single repair or tire or anything besides oil changes and wiper blades (and those are even included or able to be negotiated) in many leases.

If you don't need a top of the line/high end model/trim, you can get some pretty amazing lease deals. Some vehicles lease vetter than others too.

That being said... we usually lease for my wife and buy for me. I never keep anything stock and most of my builds become moar horsepowerz types of builds.

I leased my '24 Wildtrak because I don't trust Ford at all and wasn't sure what my plan would be or how these 6g Broncos would hold up after a few years. I also got a great deal. It helps to know people. At this point, I think we may buy it out at the end and I'm going to give it to my wife for her daily and move on to something a little more exciting.

Not really trusting any MFG at this point. Mostly minor issues with my Ram.

Wife has a 2019 Expedition that had to have cam phasers replaced, luckily right before the warranty expired. Then the trans needed replacement right AFTER the warranty expired. Ford agreed to pay half, but still out $4000+ on that one. So figure if I own anything at some point, getting an extended warranty is a must.

 

[Brian_B]

I thought really hard about leasing, but I put a lot of miles on a vehicle and leasing just doesn't seem to jive with that.

Also, specifically with the Bronco - I wouldn't want to lease a vehicle I planned to modify significantly. Half the fun of owning a Bronco is the mods.

 

[not on the rug]

Not really trusting any MFG at this point. Mostly minor issues with my Ram.

Wife has a 2019 Expedition that had to have cam phasers replaced, luckily right before the warranty expired. Then the trans needed replacement right AFTER the warranty expired. Ford agreed to pay half, but still out $4000+ on that one. So figure if I own anything at some point, getting an extended warranty is a must.

I always get extended warranties when I buy. I have connections and get the warranty for cost. These days it is always worth it, especially in any high-line car.

I thought really hard about leasing, but I put a lot of miles on a vehicle and leasing just doesn't seem to jive with that.

Also, specifically with the Bronco - I wouldn't want to lease a vehicle I planned to modify significantly. Half the fun of owning a Bronco is the mods.

How many miles is a lot?

You can mod vehicles that are leased and then just return them to stock before you bring them back.

 

[Brian_B]

How many miles is a lot?

You can mod vehicles that are leased and then just return them to stock before you bring them back.

25-35k/yr right now.

Yeah, I realize I could unmod stuff, but I'm pretty lazy. And you have to keep the stock parts laying around somewhere... (well, I do that mostly anyway, but I ~could~ throw them out)

 

[T800]

I thought really hard about leasing, but I put a lot of miles on a vehicle and leasing just doesn't seem to jive with that.

Also, specifically with the Bronco - I wouldn't want to lease a vehicle I planned to modify significantly. Half the fun of owning a Bronco is the mods.

I have a short commute and don't put on a lot of miles, so seems to make sense.

Probably not going to mod it much, but am keeping that in mind. I have a trail Jeep, so this will be a DD. Though will at least do tires if it isn't a Badlands. Wouldn't do much else unless I keep it after the lease.

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