All the car magazines lurve themselves some Kia and Hyundai SUVs. A couple we hang out with on occasion has the Kia whatever. It's nicely appointed. I just can't see myself driving one. I want more motor than they tend to offer and, frankly, my self-image precludes Korean cars.
Sorta around sometimes for some of your shitty mod needs.
We talked about leasing last night and ran the numbers. It just doesn't make sense for us given how long we keep cars, the miles we put on them, etc. To get the payment down to where we'd want it, we had to pay more on a down payment than we'd want for a lease.Originally Posted by vcdgrips
Chris
Heh. We're coming from a minivan, so this is a step up image-wise.
Power-wise, it's going to be our fastest vehicle ever. It's a full second faster 0-60 than the van, which felt fast after our Camry. One day I'll have a "fast" car...maybe...I hope.
Besides, traffic being what it is in this region, we seldom let our cars stretch their legs. AWD and various traction control modes will be handier than more power for sure.
Chris
4 wheel drive Escape............................................ ...
Too small and the one I sat in had terrible back seats.
Chris
AWD Sienna? Even 30 years from now and with space shuttle like miles itll still be worth what you paid for it new! [emoji16]
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If the OP is still looking at options I'd also consider a Dodge Durango especially the RT package with the hemi. We are on our 3rd and not a problem with any of them. A very versatile vehicle for kids, dogs, groceries, etc. and not too big but big enough. The current iteration has been around for a while with minor tweaks and updates which means the bugs if any have been worked out.
You can always buy out the lease, and you can 'refinance' by taking a loan out and buying it from the lease company to do so. Compare incentives and think about leasing as an alternate form of financing before making any sort of decision. Example: A 2022 Grand Cherokee Limited WK (old body style) is $1760 cheaper to lease than to finance right now in my region due to differences in lease incentives vs purchase incentives. Interest rate is .288% for a 24 month lease. Assuming a 10% down payment, the lease payment is $229 a month cheaper (24 mo lease vs 72 mo finance).
If my intent is to buy out the lease, then mileage limits are irrelevant to me because I'm not going to be turning it back in. There is no reason to buy a higher mileage lease.
I can then pay cash to buy out the lease at the end of the 24 months or any time before. If I don't have the cash available, I can 'refinance' just like I can a loan and buy my lease out by paying the remaining payments (and saving that interest) and the residual value. The only thing you lose is the new car interest rate vs late model used interest rate. That's not going to override the $1760 difference in incentives with today's interest rates. You can also stretch your payments out longer if you need to, pay the lease for 23 months, then get a 60 month loan. At no time will your monthly payment be higher than if you just got a 60 month loan out of the gate.
Sorta around sometimes for some of your shitty mod needs.
I hadn't considered not buying the higher mileage lease if I was planning to buy it out at the end. That changes the equation somewhat. I'm still struggling a bit with the lease vs buy thing as I'm fundamentally a "buy it and own it" person and try to get myself out from under payment plans as quickly as possible. Even when such plans are in my favor financially, they represent, in my head, a risk.
Anyway, food for thought and the number crunching is promising.
Chris
With inflation and production numbers being what they are that may be the case. In a little over two years the price of a new 4Runner has increased 10K. I just saw one advertised at the same dealer where I purchased mine for 47K. I paid 37K for mine. Same trim package. They only had one for sale so I know there won't be any negotiation on the price.
Last edited by Borderland; 02-16-2022 at 09:30 AM.
In the P-F basket of deplorables.
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