- December 18, 2015
- Reaction score
- City, State
- Year, Model & Trim Level
- 2016 Ford Explorer Sport
All very good points!I like to change vehicles every 3-4 years and have leased my last 6 vehicles. As for equity, you can build that up in a lease as well. My 2011 Limited was on a 4 year lease but the dealer really wanted it back after 3 years. They told me I had quite a bit of equity built up in it and having only 11,200 miles on it they obviously had a buyer for it. They paid off the remaining year on the lease, bought it from Ford and sold it plus gave me a very good deal on the 2014 MKT sitting in the showroom and a 3 year lease at 0%. As of today, I have 1 year remaining on that one. I agree that if you plan to buy it at lease end, you are better off financially to purchase it to start with. But having said that, a lease will allow you to test drive it for a period of time to see if you really want to keep it or not. Also, if the vehicle has been problematic during the lease you can simply walk away from it at lease end when it likely is not under warranty any longer.
Good to hear the argument for the other side.
I think OP needs to decide what he really wants. If the original plan is to buy out the lease, I would just save up until my monthly payments are where I am comfortable and buy during a good sale.
Keep us updated on the decision.
This might help you out: