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Car lease is ending.. Choices?

  1. #51
    BMW track whore e30addict's Avatar
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    Re: Car lease is ending.. Choices?


    Quote Originally Posted by jhawley View Post

    I can see not dumping money and holding off with a new tundra, as toyota is no dummy and knows that no matter how good the new one is, its got a long way to go to be the best seller in the class
    If they brought a baby diesel over in the 2022 Tundra I and many others would buy it in a heartbeat. Turbo 6 and a hybrid truck? Yeah, I'm not feeling that yet.

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  2. #52
    Lifer golden chicken's Avatar
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    Re: Car lease is ending.. Choices?

    Quote Originally Posted by e30addict View Post
    If they brought a baby diesel over in the 2022 Tundra I and many others would buy it in a heartbeat. Turbo 6 and a hybrid truck? Yeah, I'm not feeling that yet.
    Makes more sense from a branding point of view to do the hybrid than to do the diesel. And hardly anyone buys a Tundra as a work truck.

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  3. #53
    BMW track whore e30addict's Avatar
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    Re: Car lease is ending.. Choices?

    Quote Originally Posted by golden chicken View Post
    And hardly anyone buys a Tundra as a work truck.
    I get the branding thing.

    Yota could flip buyers if they played their cards right though. GMs offerings aren't that great for the $$$$$$. If Yota had an updated truck for equivalent money I think a lot would jump ship at this point.

    Light duty diesels in the half ton markets aren't necessarily just for work trucks though. They're a good choice for torque junkies who pound miles. A hybrid isn't as ideal when it comes to highway use either. It's also a lot more difficult to get people to buy into a hybrid then a diesel.

    Wishful thinking on my part anyway. At least my wallet is happy they're not bringing one over, at least until it realizes how much my current truck is gonna make disappear soon.

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  4. #54
    Lifer JohnnyV's Avatar
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    Re: Car lease is ending.. Choices?

    Quote Originally Posted by e30addict View Post
    If they brought a baby diesel over in the 2022 Tundra I and many others would buy it in a heartbeat. Turbo 6 and a hybrid truck? Yeah, I'm not feeling that yet.
    I'm really interested in taking a new Sierra with the 3.0L 6cyl Duramax for a test drive....

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  5. #55
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    Re: Car lease is ending.. Choices?

    Quote Originally Posted by JohnnyV View Post
    I'm really interested in taking a new Sierra with the 3.0L 6cyl Duramax for a test drive....
    I am too. It absolutely intrigues me. It also scares me on a few different levels though.

    Highway fuel cost isn't really much different then the 5.3 when you factor in diesel is more expensive to purchase. That's kind of disappointing when I also consider rolling the dice emissions wise.

    I almost talked myself into it before reconsidering if I really wanted to make the leap. Currently back to wait and see for a bit.

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  6. #56
    Lifer JohnnyV's Avatar
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    Re: Car lease is ending.. Choices?

    Quote Originally Posted by e30addict View Post
    I am too. It absolutely intrigues me. It also scares me on a few different levels though.

    Highway fuel cost isn't really much different then the 5.3 when you factor in diesel is more expensive to purchase. That's kind of disappointing when I also consider rolling the dice emissions wise.

    I almost talked myself into it before reconsidering if I really wanted to make the leap. Currently back to wait and see for a bit.
    Yea I hear ya, I'm getting 20mpg highway in my 5.3 running 87 so I can't complain with my current situation

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  7. #57
    Jamnuts jhawley's Avatar
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    Re: Car lease is ending.. Choices?

    I've got 2 friends that brought them in silverado guise.
    one owns a pest control business and writes it off and dosent give a fuck.

    the other acutally uses his truck for towing, so far so good, the 2nd guy is very impressed with the highway mpg compared to his last Silverado with i waaaaaannnt to say was the 6.2

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  8. #58
    Lifer jimmycapp's Avatar
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    Re: Car lease is ending.. Choices?

    6.2 requires premium, so that adds up.

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  9. #59
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    Re: Car lease is ending.. Choices?

    Quote Originally Posted by jimmycapp View Post
    6.2 requires premium, so that adds up.
    Does it require it or recommend it for max power?

    In any case I wonder how many know that and actually use it in their trucks.

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  10. #60
    Lifer golden chicken's Avatar
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    Re: Car lease is ending.. Choices?

    I had to take a few Mercedes GL-classes for long rides to set the readiness or try to duplicate a problem. One was a V8 and the other was a diesel. The V8 got 16mpg and the diesel got 28 over the same trip. I understand why people would want to buy one. But man, were they so much more complicated and expensive to fix with all the extra emissions stuff.

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  11. #61
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    Re: Car lease is ending.. Choices?

    Quote Originally Posted by golden chicken View Post
    The V8 got 16mpg and the diesel got 28 over the same trip. I understand why people would want to buy one. But man, were they so much more complicated and expensive to fix with all the extra emissions stuff.
    Which says to me the savings can instantly disappear in an emissions repair. When I consider that I circle back to modern diesels being an emotional purchase and not a financial one. It's a gamble.

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  12. #62
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    Re: Car lease is ending.. Choices?

    Quote Originally Posted by e30addict View Post
    Does it require it or recommend it for max power?

    In any case I wonder how many know that and actually use it in their trucks.
    I guess it's just recommend for max power and fuel economy.

    GMC Sierra 1500, Chevrolet Silverado 1500 6.2L V-8
    GM recommends using 93 octane gasoline for its top-of-the-line 6.2-liter V-8-equipped trucks. The owner’s manual does state as low as 87 octane is acceptable for the engine. However, to achieve maximum performance and fuel economy you must use 93.

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  13. #63
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    Re: Car lease is ending.. Choices?

    Quote Originally Posted by dontpanic View Post
    Or you could always go for the old default NESR answer, UNIMOG.
    why not an Oshkosh ?


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  14. #64
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    Re: Car lease is ending.. Choices?

    I worked on the high pressure air suspension for that. They're huge in person.

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  15. #65
    Lifer golden chicken's Avatar
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    Re: Car lease is ending.. Choices?

    Quote Originally Posted by e30addict View Post
    Which says to me the savings can instantly disappear in an emissions repair. When I consider that I circle back to modern diesels being an emotional purchase and not a financial one. It's a gamble.
    100%. Unless, like OP, you have the luxury of leasing.

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  16. #66

    Re: Car lease is ending.. Choices?

    Quote Originally Posted by golden chicken View Post
    100%. Unless, like OP, you have the luxury of leasing.
    Just an FYI, leasing isn't always a "luxury" item. Under certain situations you're actually financially ahead leasing than owning.

    This is often the case on high depreciating cars (Trucks are unlikely to fall into this, same with regular sedans such as Camrys etc).

    Leasing math is arbitrary on what the dealer does to make sales work, especially if the own the financial backing house behind the car (BMW USA). Their end depreciated value doesn't always match market value in which case leasing comes out cheaper than owning a quickly depreciating asset.

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  17. #67
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    Re: Car lease is ending.. Choices?

    Unless you have a business and can write the payments off, leasing is usually a luxury. Always paying more in taxes/registration/insurance etc.... for new stuff.

    Especially if you're a buy and run it into the ground type.

    I have 3 vehicles and they're less in total then what one new truck would be.

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  18. #68

    Re: Car lease is ending.. Choices?

    Quote Originally Posted by e30addict View Post
    Unless you have a business and can write the payments off, leasing is usually a luxury. Always paying more in taxes/registration/insurance etc.... for new stuff.

    Especially if you're a buy and run it into the ground type.

    I have 3 vehicles and they're less in total then what one new truck would be.
    I meant in comparison to new.

    It's almost never cheaper to lease/buy new than buy used thats for sure, with rare exceptions where running costs end up being as much as payment. Either way we are talking past each other. I was talking in comparison vs new, while you're talking about your situation where you're valuing long term running costs and used purchase price.


    Either way, this is the third time today I saw somebody talking about businesses "writing things off". Writeoff doesn't make something free. A purchase of a $50,000 work truck doesn't mean it's free once it's written off. Just means your tax liability for the year is $50,000 less so you don't pay taxes on the $50,000 of income for the year, which at lets say 33% still means you paid 66% of the value. I know owners "write everything off" and it's a smart thing to do, but it doesn't make it free as some people make it seem that it's like.

    Unless I'm somehow majorly wrong, in which case I'm going out and starting a business.

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  19. #69
    Jamnuts jhawley's Avatar
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    Re: Car lease is ending.. Choices?

    Depeneds on the car. we have a 2020 Bolt Ev, my 15K a year lease is $252 a month. with $500 out of pocket. even with all the rebates considered the selling price of the car was still in the mid 20s, call it 25k once you add sales tax, and financing, your talking nearly $500 a month to drive that thing, no way in hell would i spend that to drive that penalty box. (but my wife loves it)

    fucking GM though, if that drivetrain was slammed into something else its a great car, although they updated the bolt for 21-22 and it fixes the horrible interior

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    Last edited by jhawley; 03-31-21 at 12:02 PM.

  20. #70
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    Re: Car lease is ending.. Choices?

    Quote Originally Posted by Vovchandr View Post
    I meant in comparison to new.

    It's almost never cheaper to lease/buy new than buy used thats for sure, with rare exceptions where running costs end up being as much as payment. Either way we are talking past each other. I was talking in comparison vs new, while you're talking about your situation where you're valuing long term running costs and used purchase price.


    Either way, this is the third time today I saw somebody talking about businesses "writing things off". Writeoff doesn't make something free. A purchase of a $50,000 work truck doesn't mean it's free once it's written off. Just means your tax liability for the year is $50,000 less so you don't pay taxes on the $50,000 of income for the year, which at lets say 33% still means you paid 66% of the value. I know owners "write everything off" and it's a smart thing to do, but it doesn't make it free as some people make it seem that it's like.

    Unless I'm somehow majorly wrong, in which case I'm going out and starting a business.
    I know what you're getting at and your example is one way to do it. I think it's the exception rather then the rule for most folks though. If the timing doesn't work out you're back on the treadmill, which is fine if that's something you were gonna do anyway.

    Regarding businesses, there's all sorts of things you can do with leasing that has tax implications. When you lease you don't own the asset so it's 100% an expense.

    Have a great year in business? Do a one pay lease towards the end of the year to reduce your taxable income and get a new vehicle to drive as one example. Plenty of ways to leverage leasing tax wise depending how creative/complicated you want to get (and for how long).

    More then one way to skin that cat.

    And yes, we agree more then we disagree on leasing

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  21. #71

    Re: Car lease is ending.. Choices?

    Quote Originally Posted by e30addict View Post
    I know what you're getting at and your example is one way to do it. I think it's the exception rather then the rule for most folks though. If the timing doesn't work out you're back on the treadmill, which is fine if that's something you were gonna do anyway.

    Regarding businesses, there's all sorts of things you can do with leasing that has tax implications. When you lease you don't own the asset so it's 100% an expense.

    Have a great year in business? Do a one pay lease towards the end of the year to reduce your taxable income and get a new vehicle to drive as one example. Plenty of ways to leverage leasing tax wise depending how creative/complicated you want to get (and for how long).

    More then one way to skin that cat.

    es, we agree more then we disagree on leasing
    yeah I agree with you. 95% of the time leasing isn't a better option. I was being pedantic in the original comment about leasing not always being a luxury item. It's my bad internet habit.

    I'd personally never lease unless the math made sense in those few rare situations. There are anecdotes of people leasing E-Golfs for $100 a month or less. That's a no brainer. For the longest time I just thought that a lease is a terrible option 100% of the time. It was interesting to discover that there are exceptions. When you work at a dealership and they give you dealer allowance leasing is a no brainer. You can be driving new luxury cars for just a couple of hundred bucks a month.

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  22. #72
    Angry Gumball RandyO's Avatar
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    Re: Car lease is ending.. Choices?

    Quote Originally Posted by e30addict View Post
    Unless you have a business and can write the payments off, leasing is usually a luxury. Always paying more in taxes/registration/insurance etc.... for new stuff.

    Especially if you're a buy and run it into the ground type.

    I have 3 vehicles and they're less in total then what one new truck would be.
    whether purchase, or lease, a business can write it off, but either way, you want to spend least cash out of pocket. and FWIW anyone who doesn't have a lead foot, can do better deducting mileage, than actual cost..... is usually the case, till you get up to 1 ton trucks or bigger

    I have always found it better, to take mileage, especially for my motorcycle, last I knew, 54, whether I am riding my V-strom 1000, or my K-pipe 125, I save my gas &oil tires, insurance recipts & add it up, but has never been more than mileage, even with 3/4 ton van

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  23. #73
    BMW track whore e30addict's Avatar
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    Re: Car lease is ending.. Choices?

    Quote Originally Posted by RandyO View Post
    whether purchase, or lease, a business can write it off, but either way, you want to spend least cash out of pocket. and FWIW anyone who doesn't have a lead foot, can do better deducting mileage, than actual cost..... is usually the case, till you get up to 1 ton trucks or bigger

    I have always found it better, to take mileage, especially for my motorcycle, last I knew, 54, whether I am riding my V-strom 1000, or my K-pipe 125, I save my gas &oil tires, insurance recipts & add it up, but has never been more than mileage, even with 3/4 ton van
    Yes, but you can write it off faster with a lease and have more flexibility to play games to offset income vs playing the depreciation game over time on an owned asset. In gas hogs the fuel expense adds up quick as well. It depends on the scope of your business and what you're gonna do anyway. Having a fleet of trucks vs one vehicle and if you prefer older stuff vs always having newer. To each their own there, definitely more then one way to skin the cat. Maximize profit vs having nice things while making decent money. To each their own.

    I'm with you on mileage vs actual costs. I'm waaaaay better off taking the standard mileage vs actual expenses. My mileage deduction last year was more then I paid for the car and at 5cpm in fuel costs I'm not gonna beat that by a long shot.

    It's 56 cpm this year, which is lower then last year even though gas was cheaper. Pandemic had all the calculations out of whack

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    Last edited by e30addict; 03-31-21 at 01:08 PM.
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  24. #74
    Angry Gumball RandyO's Avatar
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    Re: Car lease is ending.. Choices?

    Quote Originally Posted by e30addict View Post
    Yes, but you can write it off faster with a lease
    not really, you can still use 179 in many instances https://www.section179.org/section_179_deduction/

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  25. #75
    Senior Member Philkinson's Avatar
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    Re: Car lease is ending.. Choices?

    Buy a Toyota

    /thread

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