Ugh at a loss what to buy...HELP!
#11
Lease or buy? If you don't drive over the mileage, want to get a new vehicle sooner, and don't mind paying out a bunch of money to "borrow" a vehicle, well, there you go. Not sure what you're asking about a KR or Platinum "leasing better". You can lease just about any new vehicle.
I get real irritated with the knowledge that people throw around who say leasing is a waste of money. It's a matter of concept. And lets not mention your taking a loan out on something that depreciates FASTER than ice melting ON THE SUN.
Also milage does come into play, but not as much as it did years and years ago. There are many options when it comes to overage but if you know you put 20k a year then you will pay a little less residual and may have some expenses when you go over warranty, but if you "purchased" that car - well it would be no different.
A perfect example of leasing "working to ones advantage" is my daughter. Right out of college and she needed a car. She had about $3 k saved up and wanted to get a loan to buy a $7k vehicle. I calculated it and it was better for her to lease a brand new 2014 Mazda3 for $175 a month, establish some credit and save her money for when she moves out of her moms etc. Now she does not have to worry about misc expenses that come with owning a old car.
#12
Senior Member
First lets understand that you do not own your vehicle anymore than someone who leases one - the bank owns yours.
When people borrow money to buy a vehicle and make payments, they BUILD EQUITY in the vehicle. So they own more and more of it as they pay on it.
When you lease, you never "own" any part of the vehicle nor build equity. Never.
The way I see it, some equity is better than nothing.
At the end of the lease, you'll have nothing to show for it, and you'll be forced to lease another vehicles or purchase one. If you were buying a car, you'd have built SOME equity in that vehicle (something to show for it, even if you still owed on it). After leasing TWO vehicles in a row, you'll still have nothing to show for it and, but by that time, you'd OWN the car you "bought".
Sure, while there are pros to leasing, there are cons as well. And most financial analysts will advise that, in the majority of situations, leasing is not the best option. This is because many people who lease do it because they want to have "more car" than they could afford if they bought it (lower monthly payment to lease), but many people go over mileage, don't take care of the vehicle, etc., and end up spending hundreds or even thousands in fees/charges after they turn it in.
While we buy most of the cars we take delivery of, we do lease my wife's cars. She likes to drive a new car every couple of years, puts very few miles on them (we live ~5 miles from her work), and most of her driving is within half an hour of home. So we don't mind paying money while NOT building equity, and we know she'll have a car payment for the next 30-40 years.
#13
At the end of the lease, you'll have nothing to show for it, and you'll be forced to lease another vehicles or purchase one. If you were buying a car, you'd have built SOME equity in that vehicle (something to show for it, even if you still owed on it). After leasing TWO vehicles in a row, you'll still have nothing to show for it and, but by that time, you'd OWN the car you "bought".\
I have leased 5+ vehicles and never had to pay anything more. I have gone over milage and I have made money selling outright on my last (2). I completely understand there are pros and cons, however your first post was a poor explanation of why he should not lease, then you add the you lease a vehicle now
#14
Senior Member
Dont disagree with you, however if you plan on getting a new car every few years you should consider leasing. That "equity" you keep throwing out there can is actually NEGATIVE for the majority of the loan, more specifically the time in which and individual may consider trading in.
That you may not want anymore. For ME I want a new car every threw years and have a low payment. When I i retire I will purchase my last vehicle. Until then it is best for me to lease and leasing is not always bad.
I completely understand there are pros and cons, however your first post was a poor explanation of why he should not lease,
then you add the you lease a vehicle now
I said there are situations and conditions where leasing is NOT a good idea. I NEVER said "don't EVER lease a vehicle."
#15
#16
Senior Member
#17
There's pros/cons about buying. There's pros/cons about leasing. I always lease. It fits my financial goals a lot better. I love knowing that 2 years and 51 weeks from now, my truck is going to be worth exactly what the salesman said it was when I leased it.
Also, the $585 payments on leasing the truck sure beat the $698 payments I'd have buying.
There's no point on arguing what's better. It's like arguing Ford vs. Chevy. You can argue for hours upon hours and lay out fact after fact but there's no REAL clear cut choice as to what is actually better. It all comes down to person choice.
Also, the $585 payments on leasing the truck sure beat the $698 payments I'd have buying.
There's no point on arguing what's better. It's like arguing Ford vs. Chevy. You can argue for hours upon hours and lay out fact after fact but there's no REAL clear cut choice as to what is actually better. It all comes down to person choice.
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roadPilot (02-16-2015)
#18
Senior Member
Agreed 100%.
I actually think there is, but it's not just one single answer.
I agree that it depends on your personal situation, your financial situation, your wants, your needs, and your desires.
Like you said, you wanted a new vehicle every few years, a fixed payment, a fixed residual value, and (assuming) never having to worry about paying for a large out of pocket repair expense (e.g., new transmission). For you, leasing is typically better.
For others, maybe they don't want a new vehicle every few years. Maybe they don't mind a larger payment for an extra couple of years because they know, after the term is up, they will OWN their vehicle and there will be no more monthly payments. Maybe they are in a good enough financial position to put a few thousand dollars into a "rainy day car repair fund" so that, in the event of a large repair, they don't have to worry about how to pay for it -- but they win if they don't have a large repair. For them, buying is typically better.
The 'real clear choice' answer is: It depends.
but there's no REAL clear cut choice as to what is actually better.
I agree that it depends on your personal situation, your financial situation, your wants, your needs, and your desires.
Like you said, you wanted a new vehicle every few years, a fixed payment, a fixed residual value, and (assuming) never having to worry about paying for a large out of pocket repair expense (e.g., new transmission). For you, leasing is typically better.
For others, maybe they don't want a new vehicle every few years. Maybe they don't mind a larger payment for an extra couple of years because they know, after the term is up, they will OWN their vehicle and there will be no more monthly payments. Maybe they are in a good enough financial position to put a few thousand dollars into a "rainy day car repair fund" so that, in the event of a large repair, they don't have to worry about how to pay for it -- but they win if they don't have a large repair. For them, buying is typically better.
The 'real clear choice' answer is: It depends.
#19
The leather listed for the Platinum is called Luxury Leather and not shown as available for the KR or Lariat. I would think it is the highest quality.
See the sales brochure. You can download a PDF
http://www.ford.com/trucks/f150/broc...150216055800:s
See the sales brochure. You can download a PDF
http://www.ford.com/trucks/f150/broc...150216055800:s
Further more if you went to buy an OEM 2014 platinum interior brand new it is around $5,000 dollars the 2014 KR OEM interior is $8,800 dollars.
I am not saying the platinum is not luxurious or the leather is crap, I am simply stating the highest quality leather is always in the KR line however everyone has their own preferences and what feels best to them and the KR leather comes in only one color.