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Purchase or Lease
- Thread starter lonediver2002
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Have you done this? How successful were you? I never thought of this angle. My Tahoe is up this year, and the residual is $36, I believe. Quick kbb look up says I can sell for $42 on my own. That's a $6k turnaround.
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I have not, but know others who have. Never leased a vehicle before. I have no idea about how taxes etc come into play. Just thinking about having a safety valve in case a 1st model year vehicle craps out...
If your state requires it, You would pay taxes on the buy out amount.
And then whatever you can sell it for above and beyond that is yours.
And then whatever you can sell it for above and beyond that is yours.
In Kentucky we pay a personal property tax annually on our vehicles and it adds up. If I lease curious if I still have to pay taxes on value of the whole value or just the agreed upon lease value?
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The residuals on base and Big Bend are really high ( assuming it’s the same at deal time) and you can max a squatched BB at a pretty nice monthly payment. Base even better.
Thx. I'll have to look into this more. I thought, but need to check the paper work, taxes are already paid when it's leased. But it also wouldn't surprise me if I'd get double taxed, lol. And I'm could totally be mistaken. (likely)
It's going to be a game time decision. The rates for lease in build and price are kinda trash. If they end up being better than that, probably leasing. If not, will probably buy. New model and I'm notoriously fickle when it comes to cars... But I've been lusting after broncos my whole life.
As long as ford doesn't f*ck this up, you may be able to lease and flip on the other end and not lose your shirt. Buying your own rig at the end may be pricey though. Only time will tell.
ETA: I keep forgetting some people have tax to deal with. that further complicates things a ton, I'm very fortunate to not have to consider that at all
As long as ford doesn't f*ck this up, you may be able to lease and flip on the other end and not lose your shirt. Buying your own rig at the end may be pricey though. Only time will tell.
ETA: I keep forgetting some people have tax to deal with. that further complicates things a ton, I'm very fortunate to not have to consider that at all
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Same boat. Game time decision. Wanted to float it up in here to get feedback and experiences...
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Was on the fence, but after seeing the lease rate residual on the BB that made my mind up for me.
Leaning towards lease as I believe that there will be better options on the Bronco in a few years:
colors
Warthog
other options.
Plus I also might have my fill of the Bronco and want something different (I do like to switch things up)
Spec'ing out my build shows a $934 payment vs a $693 lease (without taxes)
And miles shouldn't be a problem, plus might a trade in to help with those taxes (we pay taxes on the difference)
colors
Warthog
other options.
Plus I also might have my fill of the Bronco and want something different (I do like to switch things up)
Spec'ing out my build shows a $934 payment vs a $693 lease (without taxes)
And miles shouldn't be a problem, plus might a trade in to help with those taxes (we pay taxes on the difference)
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Remember that it's possible to have a lease longer than the factory warranty and it would be on you to fix it before returning it. Like me, I'm in a 42 month lease and had a standard 36 mo / 36k mi warranty.
What was it for a 2 or 3 year roughly?
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I don't want a potential lemon. or headache.
2020 Explorer: 10 Recalls in 1 year.
2021 Bronco Sport: 2 Recalls in 2 months.
Besides, the next models after 3 or 4 years should have some of the kinks worked out and better things on offer, like light hued vinyl seats (marine vinyl is white or soft gray for a reason).
Lastly, knowing the roll downhill this country is on, internal combustion engines will be made illegal or taxed/fined heavily, or gasoline will...
Or Ford (ole Henry) will be canceled.
If they offer a zero down or first month payment lease I'd be interested however the lease listed on the B&P requires 10% down payment. I would have a very hard time coughing up $5k for something I'm going to give up in a few years.
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