I have been reading through the forums for a few days and wanted to get some clarification/guidance.
I am only looking to lease as a means to own a vehicle cheaper than buying it outright.
Here is where I am getting hung up a bit:
I see many examples where the MSRP for a given vehicle is, say, $80k and a lease comes with extensive discounts/rebates, bringing the cost to (as an example) $62k.
Once the deal is made, assuming the terms are relatively favorable and allow for early buyout, does that mean an individual could save nearly $18k by just adding the additional step of leasing?
Is there some glaringly obvious catch that I am overlooking? I am obviously new to this, but I want to make sure I understand before pursuing something like this.
For clarification, I’m looking for an EV/PHEV in the range of $45k-$65k after rebates, discounts, and immediately buying out of the lease. Credit score >800.
Sales tax is the main bogey aside from not being dinged for unearned interest charges.
Aiming for a lower sale price in lieu of a rate bump is good too.
It hurts a lot less when you get lender tax credit on the lease.
Some lenders may ding you on the payoff for unearned interest from paying early.
IDK about the screwing you part regarding rate markup since the compromise is generally coming in form of a lower sale price (and lower tax burden on both the front and post when you buy out)
Lender tax credit is when the bank only charges you a portion of the sales tax that would normally be due on any sale transaction. (a lease is still a effectively a retail sale in Texas for the purposes of taxation)
Sorry, are you saying there is a way to save money purchasing a vehicle by first leasing it or not? It sounds like as long as the rebates/discounts equate to more than 12.5% than it may still be worth it.
None of these cars are worth buying ATM and attaching yourself to depreciation from inflated price points.
Find the best lease among these in the Marketplace including outside Texas brokers who can ship. Ride it out and return it at the end when it’s inevitably underwater.
Thanks. I am really only interested in buying and do not want to lease, so if there is no real benefit to be gained from buying out a lease, I will probably just pass on the lease idea. I don’t need a new vehicle, but from what I was reading, I could potentially save 20k on a new car. It sounds like I misinterpreted the facts based on my location and the cars I was interested in.
Thank you for clarifying though. Much appreciated.
I intend to immediately buy out the vehicle, which is the reason for the bad money factor. Credit score is hovering around 800. Looking to reach out to a few dealers locally, but curious about the feasibility of this deal.
