Too buy or not buy

Jersey Black Beauty

Jersey Black Beauty

Well-Known Member
Hey Guys,,.need some opinions.
Never leased,had the Dealer tell me I was a great candidate when I traded my F150 In on my 2017 Tacoma. like a dumbass, I also put 12K down on a 36K truck,,just to lower my monthly payments (1st mistake).Dealer gave me 30K for my trade in,,should have bought the taco outright. But again the Dealer preached how Tacoma’s hold there Resale value and assured me with the low mileage I put on a vehicle,I would have a lot of equity in the Taco after leasing for 3 yrs.(2nd mistake). I average about 3 K TOPS per year driving any new vehicle,,have company vehicle that comes home with me,,so looking for everyone’s thoughts,,my lease is up in 5 months.
Again,,,,3 yr lease,,,12K down
Payments,,.....242.42 a month,,,,,Do the math=20,000 for 3 yrs
Buy out is 27,500 plus taxes,tags etc,,estimate around 30k,,give or take
20,000 + 30,000 is around 50K for the truck -=Which just hit 9000 miles.
Now ,,if l buy it,I have a 3 yr old truck ,out of warrenty. Never been off road , only in 4 wheel one snow storm,,,,clean as the day it came off the lot.
What would you guys do?? Looking for some opinions ??
 
I'd buy it. So, its out of warranty....you can get extended warranty pretty reasonable. Like you said, it holds its resale value very well. I never do leases as you get burned every time IMHO. Good luck with your decision.
 
Personally, I'd just turn it in. Then buy a new Tacoma. You'd have a new warrantied 2020, plus you could opt for newer options. I've leased before. Never again. You're only paying the dealership for what you will not own.
 
All reasons why I've never leased. Had salesmen try to talk me into it, but I was never comfortable with the way the money balances out (like your situation).

However, if you dont have money to put down buying back isn't such a bad deal. The truck is out of warrantee, but it WAS covered the first three years and as mentioned above you can always get an extended warrantee.
 
I've never let them talk me into a lease I take it the salesman get pretty good commission on lease all your doing is renting it and you better take care of it because in that great deal can cost you plenty
 
I agree with the Dirty one I'd give it back get a fresh truck . you know they will kiss ur butt for a sale and make sure u don't pay full price for warranty when I bought my truck it was used 19 K on it and they tried to sell a extended warranty for 4 grand and he came down to $ 1500.oo.but I still passed on it . And don't lease again unless u have a bussiness u can write off the lease . Good luck!
 
Jersey Black Beauty said:
Hey Guys,,.need some opinions.
Never leased,had the Dealer tell me I was a great candidate when I traded my F150 In on my 2017 Tacoma. like a dumbass, I also put 12K down on a 36K truck,,just to lower my monthly payments (1st mistake).Dealer gave me 30K for my trade in,,should have bought the taco outright. But again the Dealer preached how Tacoma’s hold there Resale value and assured me with the low mileage I put on a vehicle,I would have a lot of equity in the Taco after leasing for 3 yrs.(2nd mistake). I average about 3 K TOPS per year driving any new vehicle,,have company vehicle that comes home with me,,so looking for everyone’s thoughts,,my lease is up in 5 months.
Again,,,,3 yr lease,,,12K down
Payments,,.....242.42 a month,,,,,Do the math=20,000 for 3 yrs
Buy out is 27,500 plus taxes,tags etc,,estimate around 30k,,give or take
20,000 + 30,000 is around 50K for the truck -=Which just hit 9000 miles.
Now ,,if l buy it,I have a 3 yr old truck ,out of warrenty. Never been off road , only in 4 wheel one snow storm,,,,clean as the day it came off the lot.
What would you guys do?? Looking for some opinions ??
Click to expand...
"What would you guys do??"

Man that's a good question, and a tough question. Good luck to you buddy.
 
tough decision, JBB. is it possible to negotiate 0% or rock bottom financing on a lease buyout right now, or is it just offered for new? what extended warranty deals are available? you may not even need one if no problems with truck and the limited wear and tear you put it thru. if you do turn it in, the dealer is gonna make big money off the resale... on top of your rent payments. so if it where me, my stubborn pride probably wouldnt give them the satisfaction, unless i was having problems with the truck. you could buy it, drive for a while, then trade it in on newer model later on. the new ones are pretty tempting. or sell as private owner. seems like these trucks really do hold their value, even the ones that are beat to hell. [emoji57] and there is always someone looking to buy a taco. all else fails, go with your gut feeling.
 
Just to elaborate. Compare your residual with street value on your truck. With the low miles on your truck and the way the Tacoma holds value, you are probably in a strong equity position now.
 
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