[Nitrousbird]

I've never leased. I only buy used and don't mind turning my own wrenches. I've had my truck for over 10 years and its time to move on. The last 8 years with it, I've averaged 6,000 miles/year (first 2 were around 25k miles a year). I use it for snow days/salty road driving, towing our wakeboat, vacations and the Lowes/HD runs.

Looking at my overall cost of ownership and the extreme price hike of new/used trucks over the last 10 years, a low mileage lease might make more sense for me.

Anyone have any experience with these? Any ideas of rates I can expect, negotiating power I have, etc.? I'm looking for a 3-4 year, 0 down (I'm fine paying deposit/first/last month up front, just no down payment BS), $250ish/month out the door, 8k miles/year lease. Any brand 1/2 ton, V8 or turbo 6, 4WD, tow package, quad cab + leather truck is fine. I'm not finding much online and folks on these lease trader sites are nuts.

I'd be more than happy to lease used if that's a real option (I hear it can be done but never hear of folks doing it). Anyone know anything on used leases?

[IndotagSwizz]

Originally Posted by Nitrousbird

I've never leased. I only buy used and don't mind turning my own wrenches. I've had my truck for over 10 years and its time to move on. The last 8 years with it, I've averaged 6,000 miles/year (first 2 were around 25k miles a year). I use it for snow days/salty road driving, towing our wakeboat, vacations and the Lowes/HD runs.

Looking at my overall cost of ownership and the extreme price hike of new/used trucks over the last 10 years, a low mileage lease might make more sense for me.

Anyone have any experience with these? Any ideas of rates I can expect, negotiating power I have, etc.? I'm looking for a 3-4 year, 0 down (I'm fine paying deposit/first/last month up front, just no down payment BS), $250ish/month out the door, 8k miles/year lease. Any brand 1/2 ton, V8 or turbo 6, 4WD, tow package, quad cab + leather truck is fine. I'm not finding much online and folks on these lease trader sites are nuts.

I'd be more than happy to lease used if that's a real option (I hear it can be done but never hear of folks doing it). Anyone know anything on used leases?

I could be wrong but I'm not sure you can lease a used car, I have once re-leased a Honda accord after my first lease expired, but I was the previous owner and I also think it might depend on the car company as well, at that time obviously I had financed through Honda

[Red Bread]

Realize that you're only offering $12k over 4 years, so unless you find something with 80%+ residuals over 4 years (it doesn't exist), you're not going to find an acceptable answer.

No money down is great, it's what we do for my wife's car, but it increases your payment. Remember too that you need to carry more insurance on a lease when factoring in total costs and depending on your tax rates, that will either raise your payments or your up front out of pocket. I don't like to finance taxes.

Your best bet would be to look for a '15 truck with huge incentives. GMC's have $13k right now and see what the residual rates for a 3 and 4 years lease are.

[Aud Dr]

Check out Swapalease.com.

http://www.swapalease.com/lease/sear...category=Truck

[saleen556]

We have a local mercedes dealer that advertises $299 down and $299 a month for preowned C class. Have no idea if this is country wide or details.

[Nitrousbird]

Originally Posted by Red Bread

Realize that you're only offering $12k over 4 years, so unless you find something with 80%+ residuals over 4 years (it doesn't exist), you're not going to find an acceptable answer.

Well, residual vs what they really sell for in the used market. Let's say a $40,000 '16 Sierra priced against a '12 Sierra that is identically optioned with 30kish miles. Let's say 10k of that 12k goes to the residual, reset goes to taxes on that 10k ($750) and rest to interest/fees. Good luck finding a '12 that sold new negotiated down to 40k selling for 30k (with that low of miles) anywhere. That said, real world resale vs calculated residual are very different things, and it's ALWAYS in the dealer's/bank's favor. You are probably (unfairly) right.

Originally Posted by Red Bread

No money down is great, it's what we do for my wife's car, but it increases your payment. Remember too that you need to carry more insurance on a lease when factoring in total costs and depending on your tax rates, that will either raise your payments or your up front out of pocket. I don't like to finance taxes.

I'm not into paying up front, just because the fear of totaling the vehicle and losing out (at least from what I've read). Otherwise, I'd pay the whole lease cash up front and not pay anything in interest, which is an option. As for insurance, multi-car, multi-home, married, clean record, mid-30's, good area, 2nd vehicle listed as low mileage = cheap rates regardless of what I buy.

Originally Posted by Red Bread

Your best bet would be to look for a '15 truck with huge incentives. GMC's have $13k right now and see what the residual rates for a 3 and 4 years lease are.

I agree. I love the Sierra's...as does everyone else around here. I doubt I'll find many leftovers on the lots.

Originally Posted by Aud Dr

Check out Swapalease.com.

http://www.swapalease.com/lease/sear...category=Truck

Oh I have. WAY overpriced leases. Typically people that either had crappy credit (who got an awful APR on their lease and rolled in a ton of fees), leased off of the MSRP price, or rolled in negative equity on a trade in. It seems there is a reason they are trying to escape these leases.

[Red Bread]

Tons of Sierras down here. Of course they're made locally. Insurance simply requires higher coverage for lease cars, it's not wildly more expensive, but does factor in to total expense.

Outside of Corvettes and Porsche's, not much has an option under 10k miles per year, but you might find a finance guy who will throw you a little upside to lock you in at a lower usage.

Returning cars within warranty is almost always going to get you a better rate. Hence 39 month lease on (what was) a 48 mo BMW warranty. Probably worth running rates on a 30 month Sierra lease.

[FriskyDingo]

Coming from someone who works at a GM store, I can tell you right now- you can forget about leasing a 4WD Crew Cab 1500 LTZ for anywhere near $250 a month. Realistically, you're looking at at least double that.