How is buying any better right now? Whether you lease or buy, you’re not getting almost any discount off MSRP. So isn’t it six of one, half dozen of the other?
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I ended up in the CX9 touring premium package at end of May in New York 36/12k for $435 a month with $0 down. Paid extra for wear and tear and gap bringing total to $466 a month. No free lunch, but loving the car.
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but loving the car
The most important statement! At the end of the day, you are going to be driving whatever car you will be leasing .
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With buying you don’t have to pay the $600-$1100 acquisition fee and can find financing rates under 2%, which is less than half of some of the MFs being proposed today. But depending on the state you also could pay more in sales tax, so you really have to run the numbers for the specific situation at hand.
Great point, and it depends on your view. I’m biased toward leasing, but unless I was buying a Japanese minivan I intended to drive into the ground, I’d rather rent half of this current markup, not buy all of it.
If I used to get 10% off MSRP and I’m getting 0, buying means I take on all the risk of all the markup. If I lease, yes my payment is more, but I only pay the depreciation and rent on that markup (and my exposure is limited to the sum of all payments, assuming I return it in the agreed condition).
Buying may/not be cheaper than leasing, and buying right now is more expensive because discounts are non-existent and incentives are light (because inventory is low).
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that is true and even with captains chairs you can’t easily access 3rd row.
Then the answer is Kia Carnival lol.
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There are some purchase scenarios that haven’t increased in price, such as Kia Tellurides which AFAIK can still be ordered at the same pricing as before the current crisis: MSRP, no dealer markup or discount, OEM or third party incentives apply.
Generally speaking, buying and holding longer than a typical lease is also another option that mitigates some of the current surge, because dealer discount or lack thereof has an outsized impact on a 24-36 month term.
Update:
I got quotes from 4 online dealers. My current payoff = $22.7K [dealer payoff might be bit higher ]
Carvana offered: $27.9K
Vroom: $26.2K
AlGo: $26.5K
Shift: $28.3K
Carvana and Vroom said they won’t take in lease within 60 days of maturity. So,i ended up calling Chase Auto Financing to extend my current lease for 6 months at same monthly payment. Only downside, all of my manufacturer warranties will expire in 10 days. I will keep you guys posted.
Thanks for all the feedback.
I got a chrysler pacifica hybrid limited for 500$ month… 0 down it was the last one i could find… minivan is the way to go. Its our 4th lease.
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Try CarMax too. And tell AlGo the highest quote from their competitors. They were happy to beat it after a video chat walkthrough of the car.
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Several Jeep 4xE owners are also Pacifica hybrid owners across the Wrangler fora, and was what got them interested in the Jeep offering. They all seem pleased with their Pacifica’s, especially the mileage.
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Damn thing is a living room on wheels.
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Can you extend for 6 months?
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Get a minivan. Seriously. I said I’d never drive one but with two kids and two dogs it’s the best thing we ever did. Also just got a solid lease deal on a 2022 Honda Odyssey.
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Appreciate if you can share Odyssey deal u got?
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I know people hate Mitsubishi here. But the outlander 2021 has a lot of tech. Not too large and he the extra “emergency” seats
It’s worth checking out for price reasons alone
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The nearest Mitsu dealer is 20miles from me. That’s a long throw just to get a repair / recall / free oil change.
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Traverse still has solid deals available given the current market. Really the only spacious family car that is somewhat affordable.
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Good point.
I moved to Northwestern MN and the nearest VW dealer is 62 miles. Went in for an appointment for a comp 1st service and the entire service dept. called in sick.
Another 140 miles round trip and I drove to Fargo and back for a $60 oil change.
Bear
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Time vs car budget. Higher the budget the more convenient the owner ship is. Including free pick up and drop off or loaners.
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