Leasing or Buying?

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Sep 17, 2003 | 06:45 PM

maddy

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Driver School Candidate

Joined: Sep 2003

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From: New York

Leasing or Buying?

All,

I got an order in for the 2004 GX470. I was wondering what is the consensus on leasing the GX470? I was thinking of buying it also. I am leaning toward leasing instead of buying. Any opinion would be appreciated.

Thanks
Maddy

Sep 18, 2003 | 06:41 PM

Kash

Lexus Test Driver

Joined: Oct 2002

Posts: 884

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From: Texas

imo leaseing is like thowing away money

Sep 18, 2003 | 07:41 PM

modelaford

Driver

Joined: Jan 2003

Posts: 147

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From: MN

I agree it is like throwing away money but IMHO so is buying when the value of these things go from $50K to 22K in 3.5 years in value its a real crapshoot either way.

Sep 18, 2003 | 07:43 PM

maddy

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Driver School Candidate

Joined: Sep 2003

Posts: 41

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From: New York

Quote:

Originally posted by Kash
imo leaseing is like thowing away money

Yea, very true. I appreciate the feedback. I thought about it and had decided to purchase the vehicle. Another question, would you buy extended warranty from Lexus or from a third party vendor? If is a third party vendor, do you have any recommendation?

Thanks
Mad

Sep 18, 2003 | 07:45 PM

maddy

Thread Starter

Driver School Candidate

Joined: Sep 2003

Posts: 41

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From: New York

Quote:

Originally posted by modelaford
I agree it is like throwing away money but IMHO so is buying when the value of these things go from $50K to 22K in 3.5 years in value its a real crapshoot either way.

Thanks Modelaford, I was thinking about leasing then purchase at the end of the lease. But the interest on that is outrageous, I decided to purchase the vehicle afterall.

Sep 19, 2003 | 06:11 AM

modelaford

Driver

Joined: Jan 2003

Posts: 147

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From: MN

Maddy, purchasing extended warrentee for these vehicals is a complete waste unless you are going to keep them 100K + miles. for the person that keeps them for 3-5 years it is a waste as I have owned 6 so far and never taken them in for anything. On my second GX due to the buyback and they both have the famous vibration that there seems to be no cure for so extended warrentee would not be an issue. Even the electronics of these vehicals is top notch compared to Caddillac and other brands. Extended warrentees usually run $1300-$2000 and take that times 6, I can afford to buy a few parts if necessary. I would be carefull of aftermarket warrentees as I have heard horer stories about collecting if a problem does occur. A big question is it a componant failure of the actual part or lack of maintanance so read any fine print.