IT’S BEEN FUN BUT TIME TO SELL!

[22_Mich_Mav]

A leased vehicle only makes sense if you are cash-poor and don't have the down payment and are forced into lease, or as a corporation where the lease payments are a tax writeoff.

Don’t agree. Not all vehicles make sense to finance if their depreciation is terrible. First thing is how many miles you drive. If you drive more than 12000/yr then it probably doesn’t make sense to lease unless you’re writing it off.

Equinox price is $45k with about $10k in rebates. Financing $35k for say 6 years with 20% down at 5% would be about $500/month. Total out of pocket for 6 years is about $42000 and that doesn’t include tires or other repairs after warranty. After 6 years that vehicle is probably worth $12000. So bottom line is you paid $30000+ over 6 years. If you lease 3 times over that same period you probably outlay about $18000-$20000 and have no repairs or tires because your car is always under warranty. Key is always mileage so most people can’t lease….

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[TheSEARCH]

Don’t agree. Not all vehicles make sense to finance if their depreciation is terrible. First thing is how many miles you drive. If you drive more than 12000/yr then it probably doesn’t make sense to lease unless you’re writing it off.

Equinox price is $45k with about $10k in rebates. Financing $35k for say 6 years with 20% down at 5% would be about $500/month. Total out of pocket for 6 years is about $42000 and that doesn’t include tires or other repairs after warranty. After 6 years that vehicle is probably worth $12000. So bottom line is you paid $30000+ over 6 years. If you lease 3 times over that same period you probably outlay about $18000-$20000 and have no repairs or tires because your car is always under warranty. Key is always mileage so most people can’t lease….

For EV cars lease is best. Not stuck with old EV with AWFUL resale value. Hope you already have 220 volt at home and ready to charge. .

 

[22_Mich_Mav]

For EV cars lease is best. Not stuck with old EV with AWFUL resale value. Hope you already have 220 volt at home and ready to charge. .

Going in next week

 

[Cherokee]

Next week I’ll be picking up a new 2025 Equinox EV LT2 FWD for $247/month for 24 months 0$ out of pocket…my cheap transportation journey continues. Later!

So,
Your renting, lease right ?
The dealer will love you long time. :’P

 

[MavStangVa]

Don’t agree. Not all vehicles make sense to finance if their depreciation is terrible. First thing is how many miles you drive. If you drive more than 12000/yr then it probably doesn’t make sense to lease unless you’re writing it off.

Equinox price is $45k with about $10k in rebates. Financing $35k for say 6 years with 20% down at 5% would be about $500/month. Total out of pocket for 6 years is about $42000 and that doesn’t include tires or other repairs after warranty. After 6 years that vehicle is probably worth $12000. So bottom line is you paid $30000+ over 6 years. If you lease 3 times over that same period you probably outlay about $18000-$20000 and have no repairs or tires because your car is always under warranty. Key is always mileage so most people can’t lease….

Then why didn't you lease your Maverick? Never have leased, never will. Vehicles are tools. I might rent a backhoe to use once but I wouldn't rent a hammer to use daily. But it is your car, your money, and your choice. Do how much do you expect to "make" off this lease compared to your Maverick purchases?

 

[22_Mich_Mav]

Then why didn't you lease your Maverick? Never have leased, never will. Vehicles are tools. I might rent a backhoe to use once but I would rent a hammer to use daily. But it is your car, your money, and your choice. Do how much do you expect to "make" off this lease compared to your Maverick purchases?

They weren’t offering leases on the Maverick in 2022. The lease deals on them today suck (one of the reasons I didn’t go with another maverick).

If you read my example above, leasing the ev is a way better deal for a lot of reasons. I don’t expect to “make” anything, just spend way less than buying. You will spend at least $10000 more buying than leasing. Technology on evs changes very quickly so by leasing you always have the latest.

Leasing only makes sense if you don’t do a lot of miles AND it’s a good lease. Rule of thumb is the lease is a good deal if your payment (with $0 down) is 1% or less of your best negotiated price plus tax. I usually shoot for less. In the case of my Equinox it’s 7/10 of 1’%

 

[Escapologist]

Mav leases are so bad right now, it's cheaper to lease a higher sticker Lexus with insurance and maintenance in.

 

[MavStangVa]

They weren’t offering leases on the Maverick in 2022. The lease deals on them today suck (one of the reasons I didn’t go with another maverick).

If you read my example above, leasing the ev is a way better deal for a lot of reasons. I don’t expect to “make” anything, just spend way less than buying. You will spend at least $10000 more buying than leasing. Technology on evs changes very quickly so by leasing you always have the latest.

Leasing only makes sense if you don’t do a lot of miles AND it’s a good lease. Rule of thumb is the lease is a good deal if your payment (with $0 down) is 1% or less of your best negotiated price plus tax. I usually shoot for less. In the case of my Equinox it’s 7/10 of 1’%

Here is the Chevy lease deal as pf right now. You said with ZERO out of pocket. If that is true great. If you need the latest technology great. I don't.

2025 CHEVROLET Equinox EV 2WD LT excludes Black, Cloth seat trim
Chevrolet National Lease Offer
Ultra Low-Mileage Lease for Well-Qualified Lessees.
$249/monthfor 24 months.

For Everyone: $6,149 due at signing (after all offers).*
$0 security deposit.

Tax, title, license, and dealer fees extra.
Mileage charge of $0.25/mile over 20,000 miles at participating dealers
That comes out to $12125 plus the fees, tax, title. At the end of the lease you have NOTHING for your money. That's $600/month to rent a car. Someone asked if you have the 240volts I'm more curious if you have a dedicated circuit for the charger. Safety first of course.

 

[Cancunbadlands]

I love my Mav but some times I wish that I had kept my 2004 Ram that I had for 19 years!

Never got into a car crash?

 

[22_Mich_Mav]

Here is the Chevy lease deal as pf right now. You said with ZERO out of pocket. If that is true great. If you need the latest technology great. I don't.

2025 CHEVROLET Equinox EV 2WD LT excludes Black, Cloth seat trim
Chevrolet National Lease Offer
Ultra Low-Mileage Lease for Well-Qualified Lessees.
$249/monthfor 24 months.

For Everyone: $6,149 due at signing (after all offers).*
$0 security deposit.

Tax, title, license, and dealer fees extra.
Mileage charge of $0.25/mile over 20,000 miles at participating dealers
That comes out to $12125 plus the fees, tax, title. At the end of the lease you have NOTHING for your money. That's $600/month to rent a car. Someone asked if you have the 240volts I'm more curious if you have a dedicated circuit for the charger. Safety first of course.

That is just the advertised program. Dealer’s will negotiate better deals than that. I’m also lucky to live in Detroit where it’s easy to get employee discount or close and there are so many dealers they have to compete to survive. Like I said above, never put money down and if the payment isn’t 1% or less it’s not a good deal. Here’s an example around here

 

[JP4AZ]

I love my Mav but some times I wish that I had kept my 2004 Ram that I had for 19 years!

Tim de and MaveRick, I kept my 04 Dakota to pull my boat and go off roading. I bought it new in 04, but was tired of getting 12-14mpg. So happy with the 40+/- mpg the Hybrid Maverick provides.

 

[MavStangVa]

That is just the advertised program. Dealer’s will negotiate better deals than that. I’m also lucky to live in Detroit where it’s easy to get employee discount or close and there are so many dealers they have to compete to survive. Like I said above, never put money down and if the payment isn’t 1% or less it’s not a good deal. Here’s an example around here

For that deal I don't blame you if you are driving to work everyday. And a good way to see if an EV fits your lifestyle. If you got it with no out of pocket for that I don't blame you 1 bit.

 

[Vick328]

Good luck with your journey. Doesn't seem like you use all the capability of Maverick, so makes sense to move on. I can take 4 people on a 1000 mile winter road trip with lots of gear and no top box on the roof. Not many vehicles can do that. I think the capabilities attracted us just as much as price.

This is what I am debating if I need to replace my Maverick. Want better speakers, clearer front hood sight, less bumpier ride, but will I be able to have 4-5 ppl in my truck with bed full of groceries and supplies and have a reliable vehicle for long rides!

 

[MavStangVa]

This is what I am debating if I need to replace my Maverick. Want better speakers, clearer front hood sight, less bumpier ride, but will I be able to have 4-5 ppl in my truck with bed full of groceries and supplies and have a reliable vehicle for long rides!

Only if you design and build exactly what you want. vehicles are always a trade off. Is the Maverick my perfect truck? NO. Does it do 90% of what I need from a vehicle? Yes.

 

[MakinDoForNow]

You and I have very different views of vehicle purchases. I buy mine to drive them, not as an investment. I have a job to earn money.

Sounds like he also is doing it for $$$. He frees up say 24k cash. Which he can invest. He should easily be able to reduce his earnings by the amount of his lease payment of $247/mo and increase his $24k cash by minimum of 25%, probably much more than that. Keeping the maverick will depreciate his $24k monthly in addition to the loss of income it would reduce. He could justify financing a new replacement vehicle at today's interest rates with the right purchase.

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