Around town typically 13-15mpg, highway can be 18-23mpg depending on speed and terrain. Towing a 7,500 lb 5th wheel travel trailer I typically would see 12-16mpg, again depending mostly on speed and terrain.
Yours gets as good of mileage towing as my F350 gets on the freeway. Granted when towing I’m usually going up and down hills/mountains but I only get 9 towing a 7500lb toyhauler.
But you seem to be the prime kind of candidate for leasing a vehicle. The fact that you never finance the entire thing when you purchase doesn't matter. What's the total cost of ownership for that vehicle for the time you have it? For instance, I've been looking at new half ton pickups recently. I've been quoted on a 24mo lease for an SR5 Tundra for 250/month with only first payment down. So for 24mos it would cost a total of $6k to drive this truck. That's about a third the cost of what it would cost during that amount of time to 'own'/pay a finance note on a similarly priced truck. And after 2 years it's not like you've got any positive equity in anything anyway. So if you did 2 or 3 leases like that consecutively (assuming you can keep getting similar terms) you would only have paid $18k to drive a 2yr old or less Tundra for 6 years. If you purchased one with same money down you would've spent whatever you agreed to pay (call it 45k ish) and the truck would be now worth approximately half that (25k?). Now this is obviously different for every vehicle as manufacturers set the residuals for them and they can change quite each month, but if you're willing to be flexible with what EXACT truck/car you want, you can get some screaming deals and pay VERY little interest (MF usually in the <1% range). Not to write a novel here, but I totally understand someone who wants to purchase a vehicle, have it paid for and then drive it for 5 more years only putting maintenance cost into the vehicle, but at the most common rate of turnover now, leasing is making more and more sense, and it's also why you see the subscription model becoming sooo popular with so many items. New updated products are so much "better" than their replacements that people want the new one every 3 years (or 1 year in the case of phones it seems). It's all very interesting.
Well. Shit. I have never thought about it in terms of cost of ownership over that time period. So how does it work if you go to lease a vehicle, and you are going to trade your current vehicle in, and you have about $40k equity in your current vehicle? Where does that money go? The only catch is that it is very, very rare that I can walk on a lot and find exactly what I want. I am pretty picky. 5 of the last 6 vehicle I have owned have been special orders, where I "built" it online and waited for it to be delivered.
It really doesn’t make any sense to put down any money on a lease because of the ‘renting’ point you’ve already brought up. If you put down $10k on a lease and it gets totaled in the first 45 miles that money is gone. Also because the money factors (interest rates) are so low, it’s wiser to hold your cash. If you have a vehicle with positive equity, sell it yourself. Regarding being specific, this is where leasing is not in your favor. Lease prices are based on residual value (manufacture sets this), money factor (interest rate), and price. More mainstream vehicles with the more basic trim packages hold more of their value (higher residual) and therefore lease better. For instance the SR5 Tundra 4x4 Sport MSRP is about $48k and leases for less less than $280/mo with a small discount. The Platinum Trim MSRP is $53k but leases for $450/mo. This is solely because the residuals on the 4x4 5.7 SR5 model is so high. Sent from my iPhone using Tapatalk
Damn, why didn't I think of just selling it myself. Because I change vehicles a lot, I just always trade them in. It is easier and less hassle. I don't think I have ever sold a vehicle myself. But that makes sense. Sell it, put down the required amount, then just keep the rest.
Just another reason leasing would probably suit you well. Just turn it in when your lease is up and tell them to make you a deal on what you want next. Sent from my iPhone using Tapatalk
Lol, that paint probably costs many multiples of what the vehicle costs......and would be garbage for durability. It's a showpiece, not something BMW is going to offer as an option.
He wouldn't own it long anyway. Right about the time he notices the finger oil shiny spots around the door handles in the first month of ownership he'd get rid of it.
Getting the right tow tune dialed in was a big part of it too. Fueling in the right spots without putting your EGTs through the roof.
Lotsa people over the years have told me I was a perfect candidate for a lease but, like Chris, I ain't rentin' a car that's gonna sit in my driveway, I can't make functional or cosmetic changes to or someone's gonna tell me how many miles I can put on it. I don't care what it costs to own a vehicle vs leasing...the price disadvantage, if any, for ownership pays for keeping other people out of my personal business. There's not a single vehicle in my stable of over a dozen that isn't modified outside of a lease's limitations. No, I am not a perfect candidate for a lease. Doesn't matter if any of those vehicles never exceed a lease's mileage restriction, either. If I were a candidate for a leased vehicle, I might as well rent my indefinite term residence, too. No, thank you. Broome! Don't sell out on your principles!
Leasing is simple - you get more vehicle for less per month than buying it. If you take care of it and keep miles down it can absolutely be worth more on trade than the lease buyout is, Evelyne has done it a number of times.
For some people it is absolutely a deal. No judgement, I'm not one of those people. You've heard the story about dust on the track at TWS, right? I'd be one of those guys blowin' the dust off in a rental and returning it completely shagged like a crapped out SV.
If you’ve got enough money that you don’t care about the financial disadvantages of buying in some situations; more power to you. Also, no one ‘tells you’ how many miles you put on the vehicle. You choose. If you put double the mileage you expected, you pay the difference in depreciation. The exact same way you would If you bought a car and then put double the normal amount of miles and we’re selling it. If by ‘staying out of your business’ you mean getting your name, address, social security number, running a credit check, having you sign a financial agreement and the bank owning the car until you’ve paid the total agreed amount, then your and my version of ‘out of my business’ is different. Sent from my iPhone using Tapatalk
