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Curious to what others who drive a lot For work are doing. I don’t pay for gas so please don’t factor that in for this convo. Talking just strictly cost and maintenance
I have thought about buying a mid mileage(60-80k) and high (100k plus) auto and driving to into ththe ground. Thought about a high mileage lease, and both purchasing new and cert. used.
Has anyone cracked th code on comin out on top or even just breaking even after 2-3 years of ownership?
Right now I’m driving a 2015 tundra and This truck seems to be the best option I have found so far for high mileage resell.
Curious to what others who drive a lot For work are doing. I don’t pay for gas so please don’t factor that in for this convo.
I have thought about buying a mid mileage(60-80k) auto and driving to into ththe ground. Thought about a high mileage lease, and both purchasing new and very used.
Has anyone cracked th code on comin out on top or even just breaking even after 2-3 years of ownership?
I don't think there is any such thing as a "high mileage lease" on passenger vehicles; nearly all of the purpose of leasing is to sell one person the "new new" and a second the "just like new" - mileage and overmileage comes at a very steep price. Ownership on reasonable terms is almost certain to be a vastly better deal.
You haven't specified any other parameters, so the starting point would be a smallish vehicle with good economy (to minimize fuel stops, if not cost) that is comfortable to drive and optimized for highway miles. Going with something "boring" - Ford Taurus or Fusion, for example - would put a good lease-return vehicle in a very advantageous price range. Reliability is pretty easy to maintain on a commute vehicle that tends to cruise at moderate speeds most of its life as well, but a "boringmobile" from Toyota or Honda might be worth some extra cost.
After that - be scrupulous about required maintenance and drive it into the ground.
I don't think there is any such thing as a "high mileage lease" on passenger vehicles; nearly all of the purpose of leasing is to sell one person the "new new" and a second the "just like new" - mileage and overmileage comes at a very steep price. Ownership on reasonable terms is almost certain to be a vastly better deal.
You haven't specified any other parameters, so the starting point would be a smallish vehicle with good economy (to minimize fuel stops, if not cost) that is comfortable to drive and optimized for highway miles. Going with something "boring" - Ford Taurus or Fusion, for example - would put a good lease-return vehicle in a very advantageous price range. Reliability is pretty easy to maintain on a commute vehicle that tends to cruise at moderate speeds most of its life as well, but a "boringmobile" from Toyota or Honda might be worth some extra cost.
After that - be scrupulous about required maintenance and drive it into the ground.
You can buy mileage upfront on a lease at a discounted rate. it works out to be cheaper than the overage or negative equity on a finance. Depends on the car and money factor.
I’m driving icing a tundra with leather now. Anything smaller will be a better ride. I don’t care if it’s a car suv or truck. Do icing the tundra because I wanted one and when I’m done with it I’ll probably give it to my son.
Maintenance and drive it into the ground is exactly what you think it means. Pretty simple
I bought a Kia Optima from a coworker. Had 110,000 miles on it. First year I put 35,000. Had to buy a set of tires and put shocks on it.
4 cyl automatic. Basic power options nothing crazy AC and automatic transmission. It’s just a odometer with 4 wheels. I do the required maintenance nothing more
You can buy mileage upfront on a lease at a discounted rate. it works out to be cheaper than the overage or negative equity on a finance. Depends on the car and money factor.
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Maintenance and drive it into the ground is exactly what you think it means. Pretty simple
I've never seen a lease that was a good deal; prepaying a high rate for extra mileage can't possibly improve that.
Leases are for relatively short-term, low-mileage, light-wear, turn-in situations. None of that seems to apply to a vehicle you're going to put a standard lease-worth's of mileage on every year, for as long as the vehicle holds up.
I can't imagine what advantage you think a lease - any lease - has in this situation. Leasing is not like rental where the company is contracted to provide full support, giving you a "suitable" vehicle no matter what. Unless you pre/over pay for full maintenance as well, everything but the right to drive it is still on your dime.
Buy outright, buy the right car for your demands, maintain it to get maximum useful life from it. Everything else adds unnecessary cost, limitations and hassle.
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I drive a Subaru Outback for a commuter car. I hate dealing with airlines so I drive a lot (50k a year or so). I've got 190k on the 2015 Outback and it just keeps trucking with only the normal maintenance. Given the low depreciation (although I doubt I will ever sell it), the low cost of insurance, the low maintenance and repairs, and the gas mileage I think it is a pretty reasonable car.
Leases are a loser. If you run the full costs the interest rate is really in the 22-24% range and you are locked in on miles, with a high penalty. Stay away!
I drive a Subaru Outback for a commuter car. I hate dealing with airlines so I drive a lot (50k a year or so). I've got 190k on the 2015 Outback and it just keeps trucking with only the normal maintenance. Given the low depreciation (although I doubt I will ever sell it), the low cost of insurance, the low maintenance and repairs, and the gas mileage I think it is a pretty reasonable car.
Leases are a loser. If you run the full costs the interest rate is really in the 22-24% range and you are locked in on miles, with a high penalty. Stay away!
Good insight thanks. I don’t think I’d personally ever lease a car. Heard about a few co workers that lease and buy the miles up front. Seems like it would always be a loser to me as well. Maybe they just like the idea of a new car every few years and buying the neg equity upfront. Controlled costs in a way I suppose.
So far I’ve loved my tundra and think I’ll get well over 250k out of it before I have to replace. I’ll probably get bored with it before it’s needs to be replaced though.
Leases seem to have a completely unwarranted image of being easy and cheap and a clever way to get lots of new car all the time without all that hassle of 'buying.' Nearly all of which is demonstrable nonsense, but it's an uphill battle to make the point after around 40 years of marketing pressure from the dealership brigade.
I have a hard time going along with your request that we ignore gas mileage. In these times of global warming I think it's irresponsible. You don't need to get the absolute most efficient vehicle, but I'm not hearing any utilitarian reason that you would need a truck or SUV, so I would rule them out.
Nevertheless, if you're driving that many miles a year I would probably start with reliability/longevity, including lifetime maintenance costs, and comfort. Factor the interior noise level into comfort because high noise levels are a major factor with a lot of time behind the wheel.
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