I’m looking for an SUV as a daily driver, mainly for commuting to work and grocery shopping. A friend recommended the RAV4 to me, saying it’s economical and very reliable. However, I’m finding it difficult to find good deals in Texas. Below is a quote that I find somewhat acceptable. What do you think about this.
Why not buy it with that monthly price I assume you could get something better than a $30K car
$532x36=$19,152 +752=19,904
Basically your paying $20K to lease a $30K car
There are cars you lease and then there are cars you buy. The Toyota RAV4 is definitely in the latter camp.
Plus in Texas you have the problem of leases being charged more for taxes and fees than a purchase. The only offers I am aware of that that get around that are for electric vehicles.
Are you open to an EV?
At any given time there are one or two that are leasing for 79 cents a month, with a handful of dog hair upfront
(Relatively speaking.)
Thank you for your advice! I changed my mind to lease a Tesla.
Indeed, thank you for your advice!!!
Don’t forget to click on the Marketplace and check out offers that might be better value such as Chevy Equinox
Agreed, buying and using for a few users makes sense in this case.
Toyota’s buy rate money factor on the Rav 4 LE is 0.00265. The implied APR at this cost of funds is the same as what Tier 1 financing would look like through a credit union or bank.
And the rather stable depreciation on Toyotas also means the closed-end residual value of a lease has nominal value (this isn’t some EV that will crater in value when Elon farts upwind).
Monthly payments will be higher on a loan vs lease, but the opportunity cost of that higher payment doesn’t offset the lease acquisition and other lease-related hassles.
Texas is too damn big, but if you happen to live near San Antonio, they have a super low miles used Rav4 LE that may be haggle-able down a bit to save a few more bucks.
You might want to rethink the Tesla. Totally different ballgame and not inexpensive. There are better EV deals than a Tesla.
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