Poll: Lease vs Purchase Your Bronco?

[etmccaus86]

Hi all, I'm trying decide if I'll buy or lease my Bronco, leaning towards a lease as it will be the first generation and I may not want to be tied to a vehicle if there are early issues. Wondering what others are thinking. My latest car and the one I just sold I bought but prior to those I was leasing every 3 years. Where are you all leaning on this one? Thanks for reading.

Purchase.
I put waaaaaay too many miles on annually for leasing to remotely be viable.

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[Russ1Bronco]

..I'll lease my 4 door base with hard top....48 mos...4k down with 13,500 miles p y....with a few less expensive options for 312. a month...(not including my A/Z discount)...you get the options for pennies on the dollar,and only pay sales tax each month..

 

[Moya7]

I only plan on lease if I can't afford to purchase. I'm going to have to get a low interest rate to afford to purchase. If I have to lease I'd want the option to purchase it later on. I am also nervous about first year issues. New options coming out in upcoming years etc.. However, unless it's complete garbage I think I'll keep this one for life. I was so looking forward to no more car payments on my Cherokee by the end of summer. But then they announced the Bronco release. Id much rather have this one for ten years or so with no payment. Which is also why I want a first year release. In 15-20 years you might be able to resale this for what you paid for it. We'll just see how things go. Everything has to be electric by 2050. I wonder, will that make this more or less desirable?

You always have the option to purchase later on. Their lease estimates are pretty bogus as we don't know the residual value on the rigs yet, so we shall see. Will have to wait and see what interest rate they offer on the Bronco, just surprised they haven't advertised that yet as money is so cheap right now.

 

[Moya7]

Purchase.
I put waaaaaay too many miles on annually for leasing to remotely be viable.

 

[Moya7]

I used to but my current job (3 days a week) is only 12 miles away. I have my gas eating BMW that I now drive to work so I'll keep it that way for now.

 

[Moya7]

I am purchasing because it is a simple interest loan and no other fees. It will be hard to convince myself to drive it off-road much as it is but definitely would not if leasing.

I feel like it is going to do so good in resale regardless so I can also trade whenever.

Also, I definitely think I am getting an extended warranty if purchase:

https://www.floodfordesp.com/esp_pl...Option1=9750&PlanOption8=9053&Submit=Continue

I just wish Ford would let us know what interest rates they will be offering on a purchase. If low enough I will go that route. I put 20K down on my used BMW that was 35K plus tax. Paying it off in two years with a stinging monthly but better that than 6 years. Bronco would be a 5 year loan and I'll put around 15K down. All you guys paying cash , our tax bill just ruined that one for me. But hey, I'm grateful I have a job and my husbands consulting gig has continued through Covid, so no complaints here.

 

[gmichael]

I just wish Ford would let us know what interest rates they will be offering on a purchase. If low enough I will go that route. I put 20K down on my used BMW that was 35K plus tax. Paying it off in two years with a stinging monthly but better that than 6 years. Bronco would be a 5 year loan and I'll put around 15K down. All you guys paying cash , our tax bill just ruined that one for me. But hey, I'm grateful I have a job and my husbands consulting gig has continued through Covid, so no complaints here.

I am going through USAA as they have a 2.19% rate at 63 Months which puts payment where I want with 15K down. If you were ever in the military or your husband or family, but they are very easy to join right now. Hopefully, the rate stays long enough for the Bronco to arrive.

 

[NickyP]

Leasing. I’ll buy at the lease expiration if I like it enough to commit to a long term relationship and I’ll give it back it it’s a heap.

 

[Moya7]

I am going through USAA as they have a 2.19% rate at 63 Months which puts payment where I want with 15K down. If you were ever in the military or your husband or family, but they are very easy to join right now. Hopefully, the rate stays long enough for the Bronco to arrive.

How about my ex Marine father, now deceased. Does that qualify? Thanks.

 

[Moya7]

Ha ha tell me about it. My husband is also self employed and we were just told by our tax guy that we will owe at least another 60k, and thats after paying quarterlies. I really have no reason to complain but it still hurts.

Then again if I sold my horse I could own a Ferrari, so there is that. Yeah I know, horses and boats - the biggest money pits.

 

[TXNavy]

How about my ex Marine father, now deceased. Does that qualify? Thanks.

It should. There are weird stipulations based on years prior to I think 1966. Something about going from Insurance only to insurance + banking. Anyways you will just need his SSN and years served.

 

[Moya7]

It should. There are weird stipulations based on years prior to I think 1966. Something about going from Insurance only to insurance + banking. Anyways you will just need his SSN and years served.

Thank you! Hopefully my mom has his social somewhere, she's 95 so we shall see. He joined the Marines at 17 and spent a couple years fighting in Korea. He was shot and injured with shrapnel, got two Purple Hearts. Sadly we lost him at 74, he was the best human being I've every known. Thanks for the reminder.

 

[Daktari]

Ha ha I'm just across from you at the base of the other Bay Area mountain (Mt. Tam). What dealer are you buying from?
(...)
Like I said on my other post, the one car I had that tripled in value I stupidly sold for the same price I paid for it 5 years later. Yeah I'm a dumbass.

Buying at Walnut Creek Ford, they will give me x-rrice and asked for no extra deposit, so far pretty happy with them, but I've also only spoken to the sales guy twice, once when they put in my order and once when I went to see the two Broncos traveling the West Coast. Mt Tam will definitely be one of my first destinations! First day drive will be up Mt Diablo unless it's raining or snowing, LOL. Who knows when I'll get my ride.

As for the other part, nobody can predict the future, you just never know. Just read about two brothers who with their family invested some 8k in I think February in one of these odd Meme Coins, now worth 9 million, LOL. My basically 19 year old Taco trade in value is supposedly 9-12k, so open market sales probably could get half of what I paid for it 19 years ago, crazy. Cars are not an investment, personally I doubt there will be any 2021 Broncos still drivable 50 years from now with all the computer stuff in them. Not that I'll care, as I doubt I'll still be around by then, haha!

Hope you get your soft top soon, the wiring can be dealt with later if you ever want to add a hard top.

 

[Daktari]

Then again if I sold my horse I could own a Ferrari, so there is that. Yeah I know, horses and boats - the biggest money pits.

I'd never trade a horse for a Ferrari though, nice machines but really quite pointless in the US with all the speed limits. And it probably won't even get you to the trail head that you then can take your horse on into the wild

 

[Moya7]

I'd never trade a horse for a Ferrari though, nice machines but really quite pointless in the US with all the speed limits. And it probably won't even get you to the trail head that you then can take your horse on into the wild

But then I could have two vehicles with a horse theme, so there is that!

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