Thanks for your response. Interesting comments regarding an engine that lived through prior generation as the only choice and moved up to the next 2022 Qx60 (why would a problem engine prevail?). So I guess all responders are saying 30K financed can be better spent elsewhere. Agree on the tech though as it was dated to begin with. The thought was if mechanically it is a decent choice and 3 years left (Qx offers 6 years) on the drive train warranty given very mild car use why spent 15-20K more on a new car financing to a get a better tech (provided I am satisfied with drive/size/utility of the Qx60). Clearly consensus here is aligned with a view of the potential buyers down the line, that is bearish on QX60 and is bullish on a new Telluride (even though it is not even a lux brand either similar to CX9). Is it mostly the 10y/100k warranty drives the choice?
I guess then the same consensus on future resale should steer me toward letâs say a RX350 2022 trims (can compromise on 3rd/more cargo if trading up to lux trims at same price point).
Test drove â22 CX9 Touring plus (not GT) engaging/swift/good size for the mostly street driving, but turbo roaring (in the cabin), more plush Rx350 and Telluride (the only available used â20 LX trim which is ugly), and found all acceptable from the drive train/power perspective give or take.
Itâs not about purchase price. Itâs about TCO (total cost of ownership).
Letâs say 2 cars both cost you $14,000 over 3 years in depreciation and finance charges. One is clearly a superior vehicle than the other. Which one would you choose? Isnât it obvious?
Why would it cloud your judgement that one has a purchase price lower than the other?
Jumping in this thread just because Iâm in the same situation - QX60 going back in December. I am very much done with this vehicle, the dated Tech is driving me insane so extending for a few months isnt really ideal sounding to me (if I knew for sure that lease prices were going to go back to ânormalâ in three months then fine, but I know thats not a realistic way of thinking).
So, Iâm curious what are some lease numbers folks have been getting in the NE on other 3-row SUVs? I was quoted like $900/mo with a few grand down for new QX60 (which Iâm not at all considering, of course).
Is the hope that youâd be able to sell it for more than you owe in a couple years? I feel like that is putting a lot of hope in the resale market in the future, but something worth exploring for sure.
(B) total cost of ownership, ie purchase price + TTL - resale proceeds + finance charges.
I just sold a Telluride after a year where B was zero. Based on how well they were holding value before all the craziness started, I have very little doubt that B over 3 years would have sub $10,000. Can you touch that with a lease today?
Right, I think weâre saying the same thing. But if your resale proceeds arent as high as you hoped then your total of cost of ownership might be about the same in the end, if your monthly lease price is the same or close to your monthly finance price. But, maybe Iâm missing something?
I donât think so. You seem hung up on possibility of any negative equity. But abstract notions either fall apart or hold up ⌠based on the numbers.
Letâs take a Kia Telluride for instance.
What are the numbers?
Selling price = MSRP should be your target
Which trim? EXP, SX or SXP?
Where do you live?
Doc⌠tax, reg and title?
What APR do you qualify for?
What term for the loan ie how many months?
Down payment?
Start plugging those into any auto loan calculator.
Then click on the amortization table and see what is the remaining balance after 36 and 48 months.
A $750 36m lease is $25,000+ not including disp
So how do you get to being âclose to the same TCOâ as a $10,000 ownership?
Where are you getting $10,000 TCO for financing? To get to that TCO youâre assuming you are making money off of your resale in a few years to offset what youâve already paid on your note and Iâm just saying that isnt guaranteed. Iâm also not saying its not possible, but my initial question that you decided to respond to, just said âis the hope that youâd be able to sell it for more than you owe in a couple yearsâ and the simple answer to my question is âyesâ but you couldnt just say âyesâ and instead you had to come up with a quadratic equation.
If you finance at the same $750 for 36mos youâll have paid the same $25,000 - to get to your TCO of $10k you need to sell your vehicle for a 15k profit (crude numbers here, not factoring taxes, fees, yada yada). Iâm not saying thats impossible, Iâm just saying to make buying better than leasing, even in this market, you need to sell your car for a profit (at least if youâre talking about using the car for comparable time periods as you would a leased vehicle). Unless Iâm misunderstanding what youâre saying?
Also, worth noting that you need to consider driving habits. People often lease because they put a lot of miles on their car. So if you expect to put 12,000mi/year - especially with City driving - youâre further cutting into your profit margin when you sell in 3 years with 36k miles on your car vs if you are the type of owner that only puts 5k a year (which would help you sell for a higher profit margin in 3 years).
EDITED TO ADD: Of course what vehicle youâre purchasing matters a lot to all of this, but it still just all comes down to my initial point that you need to sell for profit. Whether or not thats easy isnt the point.
2020QX60 (I know you advise against it but as a math option)
$33K (29K plus tax) purchase
$20-15K exp.Sale in 2-3 years (6y old) with under 30k miles
$2K interest
TOC=$13-$18k
RX350 (6k off MRSP 59K)
-62K -41K Est RV (70%?)=21K
-63K+30K Est RV(50%)=33K
