I am with you Luke. I leased mine and will continue to lease in the future. I'd rather keep it for 2-3 years and turn it in for a newer model. I drive about 16,000 miles a year, but I am still coveredas far asmileage goes with the package I have. I don't like to keep things for very long, so buying is not for me.

 

My H2 is the FIRST vehicle I've PURCHASED since 1994. I usually Lease through my busineses, but I HAD TO OWN HER!!! she's so purty

 

Ditto x8

I own all of my vehicles. I can't justify always making a car payment- To me it is like renting a car. (imo)

 

It actually was beneficial leasing through my company as it wasthen a 100% tax write off.

But I didn't want to ENVISION a day on paper when i had to bring my Rig back[&:]

 

What about the GM Smart Buy, kinda between a lease and a purchase, you own it.... but you can turn it in at the end of term or refinance the residual. I chose the smart buy, got a good deal with a GM supplier discount, excellent credit got me the lowest APR and the residual is fair.

I did the 39 month SB. I'll have to see how she's holding up at the end of the term and also what else is available as far as the 2010 Hummers H4?

Also, when you lease you must carry higher insurance limits due to the liability of the lease company owning the car and not the individual. My H3 insurance is less than my Toyota Tacoma King Cab that was 4 yrs old which was a 48 mth. lease. ( Now that was stupid....)

 

My take:
I personally lease one vehicle and purchase the other. I did lease the H3 and feel I got a decent deal (who doesn't?). My rationale for leasing is as follows:
1.) After 39 months I have a clean slate (if I purchased, I would probably still be upside down)
2.) I get a new H3 after 39 months, probably wouldn't happen if I purchase
3.) Not worried about mileage, turn it in a little early and thecompany normally eats the miles, don't put more than 12,000 on in a year
4.) Car payment ($220) less per month than purchasing for 5 years (saving $8580 over the 39 months)
5.) The vehicle will always be under warranty
6.) Don't mind putting a few hundred dollars of accessories on her (a throw away a lot more money than that by drinking, going out to dinner, gambling, nudy barsetc. etc. If the accessories make me happy than DO IT!
7.) I never look at a car as an investment due to constant depreciating
I do agree it pays to purchase a vehicle, if you plan on keeping it for a long time. On the flip side if you keep it long, the odds increase of things going wrong ( there is your payment). I like to turn over vehicles after a few years, therefore, leasing is a good choice for me. When I get that itch for a new car, I can't stop scratching. Just my take!

 

I decided that purchase was the best option for me.
I paid it in one shot to get a betterprice and not have to pay the financing fees.
They even gave me an MP3 player and Black Hummer cooking grill as a thank you.

 

Well said machines. I hate the process of selling a vehicle almost as much as buying one...the haggling, etc. Forget about trading them in...that's a real bath. I don't mind modding a little if it's stuff I can easily remove when it's time to turn it in. If I really like the H3 at the end of the lease, I'll just get another one.

 

I have to agree...After all everything Machine said made sense...especially the Nudy Bar thing....(Pssst, we like torefer tothose establishments as; Gentlemen's Clubs LLC (Lick, Lather and Copulate)

 

There is a financial term when is come to tangable property, "if it appreciates, buy it, if it depreciates, lease it." With the exception of a few vehicles, cars, trucks, cycles, usally depreciate very fast.

The H3 is a new model, and due to this residuals values are pretty high, making monthly lease payments very attractive. In 2-3 years the bottom mayfalls out due to gas prices, market fads, etc.A lease can make a lot of sense in these cases, especially if you are not wanting to keep your vehicle less that three years. Three year monthlyleases paymentsare normally less thanfour year leases.However, if you are going to keep your vehicle for a long long time, purchasing may be your best route.