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Seems Too Good To Be True

 
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Old 06-23-2019, 07:18 PM   #1
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Seems Too Good To Be True


My pickup is a 12 chev half ton with 113k miles, always dealer maintained, anything needed, they put on. runs and looks like new one.

I'm thinking of trading up, think we need at least 3/4 ton if we're going to pull trailer south this winter. saw ad for local Ford dealer.

2019 1 ton, f350 4wd , crew cab, 6.7 liter v8, midrange trim level, I can only compare it to chev.... trimmed like an LT.

MSRP, $49k, buy it now 42.. but this is too alluring, 2k down, 36 month, $369 a month lease , 10 k miles a year. That would not be a problem, still have chev to drive rest of year. I hate fleeces, (leases), but this sounds mighty inviting.

Our thoughts that in three years, we'll find area we like, buy a place and not pull a trailer back and forth.

Thoughts?


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Old 06-23-2019, 07:38 PM   #2
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Re: Seems Too Good To Be True


Quote:
Originally Posted by dayexco View Post
My pickup is a 12 chev half ton with 113k miles, always dealer maintained, anything needed, they put on. runs and looks like new one.

I'm thinking of trading up, think we need at least 3/4 ton if we're going to pull trailer south this winter. saw ad for local Ford dealer.

2019 1 ton, f350 4wd , crew cab, 6.7 liter v8, midrange trim level, I can only compare it to chev.... trimmed like an LT.

MSRP, $49k, buy it now 42.. but this is too alluring, 2k down, 36 month, $369 a month lease , 10 k miles a year. That would not be a problem, still have chev to drive rest of year. I hate fleeces, (leases), but this sounds mighty inviting.

Our thoughts that in three years, we'll find area we like, buy a place and not pull a trailer back and forth.

Thoughts?


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$15k in lease and down payments. Question is will it be worth more than $27k in 3 years with under 30k miles?

I think the low mileage leases offers are hoping that they'll get you on overmileage fees. I know it would work for me, I drive about 10k a year.

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Old 06-23-2019, 08:04 PM   #3
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Re: Seems Too Good To Be True


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Originally Posted by Golden view View Post
$15k in lease and down payments. Question is will it be worth more than $27k in 3 years with under 30k miles?



I think the low mileage leases offers are hoping that they'll get you on overmileage fees. I know it would work for me, I drive about 10k a year.
I want a newer, larger truck for 3 years max. Miles won't be a problem.

But you're right, about a buck a mile.

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Old 06-23-2019, 08:11 PM   #4
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Re: Seems Too Good To Be True


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I want a newer, larger truck for 3 years max. Miles won't be a problem.

But you're right, about a buck a mile.

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Sounds like a pretty sweet deal and I've never leased anything in my life. Actually never financed until now. Deal was do good I couldn't pass up but it took me Lil bit to get my Head around it.

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Old 06-23-2019, 08:21 PM   #5
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Re: Seems Too Good To Be True


From a dollar perspective, $420 a month (I'm averaging the down payment over the lease) is pretty easy to stomach, for a brand new truck. No maintenance except 2 oil changes, no tires, etc. You might even get all three years out of the wipers!
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Old 06-23-2019, 09:38 PM   #6
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Re: Seems Too Good To Be True


I dunno, my first reaction was buy the truck outright, and then sell once you don't need it any more.
42k sounds like a pretty good deal for that truck.

Before I pulled the trigger either way, I'd be looking at what the newer(like 2-3 years old) low mileage trucks are going for, the 3/4 and 1 ton trucks usually hold their value surprisingly well, like way over what KBB says they should be going for.

Buuut I haven't been watching used trucks the last couple years, so I'm not sure what the newer ones are doing.




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Old 06-23-2019, 10:34 PM   #7
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Re: Seems Too Good To Be True


What kind of conditions are there at end of lease?
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Old 06-24-2019, 04:50 AM   #8
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Re: Seems Too Good To Be True


I think you have to pay for any dings or scratches, never heard of anyone turning in a lease and walking away without a bill.
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Old 06-24-2019, 05:19 AM   #9
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Re: Seems Too Good To Be True


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I think you have to pay for any dings or scratches, never heard of anyone turning in a lease and walking away without a bill.
I have, 4 times.
From my experience 70- 80% of lease holders pay no damages, many will pay over mileage. I did have 1 customer who leased a BMW and I was there when the guy came to do the lease end appraisal, he picked apart everything and the estimate for damages as about $1500. Guy complained and another appraisal guy came and agreed it was wrong, bill was a bit over $300 to replace a wheel that had curb damage from parking.

With 10k miles a year they are banking on that 25 cents a mile overage and selling a nice used truck
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Old 06-24-2019, 05:54 AM   #10
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Re: Seems Too Good To Be True


Talking to neighbor, he leased Chev traverse awhile back,
15k miles a year.

When they returned with 40k, dealer made them replace tires.

Quite an expense in itself.

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Old 06-24-2019, 06:02 AM   #11
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Re: Seems Too Good To Be True


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I have, 4 times.
From my experience 70- 80% of lease holders pay no damages, many will pay over mileage. I did have 1 customer who leased a BMW and I was there when the guy came to do the lease end appraisal, he picked apart everything and the estimate for damages as about $1500. Guy complained and another appraisal guy came and agreed it was wrong, bill was a bit over $300 to replace a wheel that had curb damage from parking.

With 10k miles a year they are banking on that 25 cents a mile overage and selling a nice used truck
I think they make exceptions for people in lease loyalty programs but if they know you’re a one and done lessee they hit you as hard as they can.




Successful new car salesmen almost all have one thing in common; they’ve been at it years and have built up a huge base of loyal lessee’s. Every two years they can count on these customers coming in and trading up. Without that customer base new car salesmen aren’t much above a Walmart employee in terms of salary. I know a salesman who has at least 300 lease renewals per year, he’s not hurting.

Last edited by Big Johnson; 06-24-2019 at 06:09 AM.
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Old 06-24-2019, 06:14 AM   #12
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Re: Seems Too Good To Be True


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I think they make exceptions for people in lease loyalty programs but if they know you’re a one and done lessee they hit you as hard as they can.
No, the people who look at the car don't know anything about the leasee. They are from a 3rd party company, they have a multi page checklist and go line by line. They check tire tread depth and have listed tolerances the reading should be in depending on lease length. That have plastic discs that they hold up to body dings, I think under 1" is not charged unless there are more than 10 or something like that.

With a commercial lease all they care about is that it runs, no check engine light and no broken glass. Nothing else matters.
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Old 06-24-2019, 06:21 AM   #13
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Re: Seems Too Good To Be True


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No, the people who look at the car don't know anything about the leasee. They are from a 3rd party company, they have a multi page checklist and go line by line. They check tire tread depth and have listed tolerances the reading should be in depending on lease length. That have plastic discs that they hold up to body dings, I think under 1" is not charged unless there are more than 10 or something like that.

With a commercial lease all they care about is that it runs, no check engine light and no broken glass. Nothing else matters.
He’s not looking at a commercial lease, he’s looking to get a truck with an LT package to pull his camper. They care about cosmetics on that return. That 3rd party thing might be a New Jersey law but here the dealer looks the vehicle over.
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Old 06-24-2019, 08:18 AM   #14
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Re: Seems Too Good To Be True


If you can buy that truck right now for 42k I would have to buy it. Like you said sounds too good to be true.
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Old 06-24-2019, 11:48 PM   #15
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Re: Seems Too Good To Be True


I wonder what percentage of these new car and truck prices is a contribution to the UAW pension fund?

Yep if you can buy that truck at that price strike while the iron is hot especially if it has SYNC
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Old 06-25-2019, 05:59 AM   #16
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Re: Seems Too Good To Be True


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I wonder what percentage of these new car and truck prices is a contribution to the UAW pension fund?

Yep if you can buy that truck at that price strike while the iron is hot especially if it has SYNC
Probably quite a bit but a Toyota or Nissan or German truck isn’t any cheaper. The UAW cars are priced at what people will pay, I don’t think the UAW has anything to with setting the price. The feds have more impact than anyone with all the mandatory items now required. 50 airbags per vehicle, backup cameras, emissions, 8 speed transmissions, etc, etc etc.
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Old 06-25-2019, 07:36 PM   #17
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Re: Seems Too Good To Be True


Just drove 2500 Silverado with 6 liter, anybody own one?

Realistic highway mileage?

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Old 06-26-2019, 02:21 AM   #18
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Re: Seems Too Good To Be True


10-12. A gas miser they aint. Mines a super low mileage 2010, but I believe that are all about the same, even the new ones, though I dont know for sure.

I think a few guys have much newer ones on here.

That being said it's a great engine. Lots of get up and go.

That being said, the new diesels are supposed to be insane.

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Old 06-26-2019, 11:39 AM   #19
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Re: Seems Too Good To Be True


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10-12. A gas miser they aint. Mines a super low mileage 2010, but I believe that are all about the same, even the new ones, though I dont know for sure.

I think a few guys have much newer ones on here.

That being said it's a great engine. Lots of get up and go.

That being said, the new diesels are supposed to be insane.

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Just read a review on the new Silverado diesel. Think its a 4L turbo. 375-400lbs @1500rpm. They babied it to see how the mileage came out--keeping it under 65mph, AC off, easy on the throttle; got a tad over 40mpg, according to the truck's computer.
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Old 06-26-2019, 12:14 PM   #20
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Re: Seems Too Good To Be True


40 mpg....yea sure

Down hill with a tailwind...

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