Archive for the ‘Autos’ Category
Leasing, rather than buying, is a hot trend. In fact, nearly 40 percent of light trucks are leased these days. But is it really for you?
That depends. The big problem for hunters and fishermen is that at the end of the lease (typically 24 months), the lessee (that’s you) must pay for any “excess wear and tear” when the vehicle is returned. Given where we drive our trucks when we hunt and fish, you may find that your truck has a number of scratches or small dents.You will pay handsomely for this. You also may not be able to personalize the vehicle, if you want to add a roof rack, brush guard, auxiliary lights, an electric winch, and other bolt-on accessories, you need to find out whether the lessor (the finance company that owns the vehicle) will allow you to make modifications.
In some ways, leasing is a more complicated procedure than buying. There are many fmancial pitfalls, so you better do your homework before you sign on the dotted line. But a quick way to figure out if leasing may work for you is to answer the following questions:
Leasing may work for you if:
1. You prefer to drive a new, rather than old, truck;
2. You don’t mind making monthly payments;
3. You put less than 12,000 miles a year on your truck;
4. You don’t expose your truck to “excess wear and teat”
Leasing probably won’t work lbr you if:
1. You prefer to pay off the loan in frill and then drive the vehicle for several years thereafter;
2. You drive more than 12,000 miles per year;
3. You routinely drive into areas where brush, rocks, and other hazards can damage the vehicle.