This is always a question, and I have never leased a vehicle over the 5 car purchases I've made in my life (I drove 3 of them into the ground). I have always financed. There are a few compelling articles online regarding the positive aspects of leasing EV's and the advantage of leasing given the improvements expected over time. But I can't imagine not being able to sell a 3 year old ev with 45K miles for more than 15K (which would be a rough approximation of what would be left of a 60 month loan after 36 months - and using 36 mo. to compare to lease).
Jim Matthews
Active Member
I'm leasing, for the second time.
My out of pocket, for both is less than $3000 USD per year.
Given the rapid advancement in EV technologies and the likely arrival of inexpensive Chinese EVs I don't anticipate high residual value in most affordable EVs.
If those presumptions are incorrect, most leases include a buy out purchase option during the term.
Two proviso - the current pricing of any car is inflated and will result in catastrophic depreciation. Never put money down on a lease; if the vehicle is totaled, that money *vanishes*.
https://www.realcartips.com/leasing/0314-dont-put-down-payment-on-car-lease.shtml
My out of pocket, for both is less than $3000 USD per year.
Given the rapid advancement in EV technologies and the likely arrival of inexpensive Chinese EVs I don't anticipate high residual value in most affordable EVs.
If those presumptions are incorrect, most leases include a buy out purchase option during the term.
Two proviso - the current pricing of any car is inflated and will result in catastrophic depreciation. Never put money down on a lease; if the vehicle is totaled, that money *vanishes*.
https://www.realcartips.com/leasing/0314-dont-put-down-payment-on-car-lease.shtml
Good points, all.
<3k out of pocket per year on a 43K vehicle is not possible. If I am wrong, please post a link to your bank.
Jim Matthews
Active Member
Purchase price was $39,000.
KIA lease cash was $13,600.
Residual value is $20,000.
This was in August of 2020 on a 2019.
The current sales market is distorted by supply constraints and there are no incentives on offer. I had to call around the country to find a dealership that needed the volume to trigger a manufacturer's bonus to get the deal.
KIA lease cash was $13,600.
Residual value is $20,000.
This was in August of 2020 on a 2019.
The current sales market is distorted by supply constraints and there are no incentives on offer. I had to call around the country to find a dealership that needed the volume to trigger a manufacturer's bonus to get the deal.
GeorgeWilson
New Member
The lease or purchase debate can be a real head-scratcher, right? I know I'm jumping in a tad late, but maybe this can help others too. I've had pals pondering the same EV dilemma. The market's dynamic, and it's like predicting how your car will perform down the line.
GeorgeWilson
New Member
Remember, making the right decision involves more than just guessing. Experts can be the GPS that guides your financial drive. When it comes to financial forks like this, seeking guidance from a Mortgage Broker in Basildon might sound a bit surprising. But they're like the pit crew of money moves, steering you right on the road of finance.