Syclone Rob

Why not!!!???? isn't it the cool thing to do nowadays... Everyone is doing it.

bigred90gt

Not everyone has $20k - $60k disposable income, but nearly everyone needs reliable transportation.

Everyone's needs are different, so leasing is not always a bad thing. The only reason I don't lease is because I put too many miles yearly. For me, since I get a new vehicle every few years, a lease would make the most sense, but mileage would kill me. For some, paying cash works best, most people don't have that kind of cash in the bank. For most, financing a vehicle purchase is the best option. Debt is never a good thing, but for vehicles and homes, paying cash is generally not an option for most. Having said that, I'm sure the OP appreciates your sound non-advice that does not answer his question.

OP - your best bet would be to look online at lease calculators, ford website for options/pricing, and talk to your dealer.

jeffinthebag

No, what I'm implying is some advice. If you can pay for the vehicle through financing over 36 to 48 months then why don't you bite the bullet and buy something cheap. So in 36 months you DO have the cash saved up. Yes everyone kind of needs a car. But you don't need a 35k-50k car right off the bat to keep up with the Jones. That's what got our country in trouble and still in trouble. ANY DEBT IS BAD. And you should do whatever possible to avoid it.

tylerkhn

This. If you plan on paying $500 a month over the next couple years, why not buy? My payments are $535 a month and I almost have it paid off. I think I put $1000 down and that's it. No matter how much you pay on it, you will never own it as yours.

bigred90gt

What is your suggestion for a home, live in an apartment (for the same monthly cost as a mortgage) for 25 years until you can afford to pay cash? Live in your $4k car until you can save the cash? Which do you buy first, a house after living in your car for 25 years, or a new vehicle after 5 years to live in for the next 25 years while you save for a house? I guess you could live with your parents for an extra 25 years while you save for a house, I'm certain they won't mind.

If you stay within your means when you finance something, it is not necessarily a bad thing. Where people make it a problem is when they out buy their income. Buying a $50k vehicle on a $30k/year income is monumentally stupid and you will wind up in trouble most likely. A little bit of sense goes a long way. Yes, it would be ideal to pay cash upfront, I'm not arguing against that, but not everyone has that cash available, and most people need reliable transportation. You're right, not everyone needs a $35-50k vehicle right out of the gate, but you're not going to get something reliable for pocket change. What gets people in trouble is over reaching their income when buying.

We were looking for a cheap cash car for my mother in law last year. Since my wife and I were paying for it, we were trying to see what we could find for $2500. Ever look for a car in that range? The piles of garbage you can get for that price aren't worth the cost of tires you will surely need to out on them shortly.

tylerkhn

You can't really compare a truck to a house. It's not even close.

SteveLord

Lease incentives for the F150 don't even come close compared to purchasing it.

Gravelley

I got to say this is the dumbest argument i have ever heard. First off you need to get debt in order to build credit. Second there might be 10% people out there who ever actually pay off therecar or home. The reason most people don't put cash down besides not having that cash, is why go save all that money when your going to sell its before you pay it off. Finally the only people out there with that type of money are probably millionaires like your self it seems. Once again sounds like a spoiled guy just making a argument this stupid to make him self look good cause he paid his car and house in cash. Guess what I'll have everything you ever have with out ever having to pay it full in cash and still be just off in life. I would way rather pay the extra intrest and have my vehicle right away then like in a box for 7 years waiting to save it.

tylerkhn

You don't have to be a millionaire to buy a vehicle with cash. We bought my wife's truck with cash and I'm enlisted military. Maybe we just do things different but it works for us.

Z7What

A very good friend I mine is a finance adviser. I was telling him that I always pay extra on my house and truck. The way my truck loan works is my note was let's say 500 for easy of conversation I pay 600, so the following month the bill comes it's less, I pay 600. It continues to lower my following months note. This month my note was 8 dollars. Yes $8.00, still paid 600.

He said he would advise me to pay only the 500 each month. And save the extra, that cash on hand is better than anything else, he says.

I disagree, I'd rather pay things off early. I'd rather have a small amount in savings and pay house/cars off early than keep the notes for the term of the loan than have a larger amount in savings.

Wayne