18k miles a year - is a lease even an option

Ask the Hackrs
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1

Hi Guys,

Welcome all advice - looking to see if a lease is even worth it given I do about 18k miles a year. Should I just give up and take the plunge to buy something or are there any leases anyone recommends for 18k

Preferably an SUV (AWD)
Comfortable
Under $400
In NJ

Thanks

2

Sounds like you need a Highlander

1 Like
3

lease is worth it, we have one pickup truck that does 20k miles and we always lease, keep in mind you will pay a lot more than all these deals you see, I can’t say for sure in your case but in my case jumping from 15k to 20k miles was roughly $70, and from 10k to 15k was about $60. So roughly add $100-$150 extra a month for the jump in miles, again depends on residuals values and such but that’s about the type of jump you will see.

4

Interesting thanks guys - but wouldn’t you end up paying more on a lease if you decide to keep it than buying it outright

5

possibly yeah, cause you could go get a used car for a fraction of the sales price on a new one.

You also wouldn’t get a new car, a 3 year warranty, the ability to turn in said car after X term, bumper to bumper warranty and the ability to purchase a manufacturer’s extended warranty, lots to consider here. If you were driving like 30k miles a year I would say just buy but 18k isn’t all that bad, you can certainly stay within the realms of leasing and with a decent payment (extra $100 a month)

6

You need to do the math and compare everything, don’t lease to buy. The lease is nice because you know exactly what your costs are for 3 years(or whatever term), the problem with the buy is you have no clue what the trade in value will be after driving all those miles. The way the highlander is leasing right now I doubt you’ll find a vehicle that’ll give you a cheaper per mile cost. 18k isn’t the point where I’d say don’t lease, it’s really anything over 20k, and even then if you find the right deal it’s still possible.

7

In your case I would do an Acura MDX 2019 with only SH-AWD. Get the 15K lease and do it for 24 months. Acura gives you 7500 mileage credit when you turn in for another Acura and bonus miles. If you do it will a pull ahead you should be good. It would likely be under $500 with only $500 DAS if you work hard on the deal.