Lease a new vehicle, pro's and con's

[hemi68charger]

Hey gang..
Question? What are the pro's and con's of leasing a new vehicle?

Situation: I'm thinking of retiring my '98 Ram SS/T from daily duty, selling it to help with the restoration budget of my new Superbird project. I am wishing to get my own new vehicle for the first time since '97, a nice Ram Sport, trading my wife's 2012 Ram Sport in for a 2015 Ram Sport and getting her something smaller, like a Journey since she says the truck is beginning to be a bear for her to park. So the options I've been thinking about is:

1. getting the best deal on two new vehicles ( Ram and smaller SUV for her )  <<< financing options from bank, the dealership or join my company's Credit Union
2. getting a new truck and her a used ( 1 or 2 year old SUV with dealer warranty )
3. getting a new truck and leasing something for her

[Ghoste]

If you need to keep yourself in a new vehicle and you don't put a lot of miles on it then leasing can be a very good option.

[hemi68charger]

If you need to keep yourself in a new vehicle and you don't put a lot of miles on it then leasing can be a very good option.

For Kim, I would like to get her in as-new a vehicle as possible........

[HPP]

Leasing is renting a car with penalties for over mileage, inadequate maintenance, any dent, ding or scratch, or wear they deem excessive. Residual value is a big calculation in the determination of the lease cost, and that's all estimated to begin with. If you can use the lease as an expense for business that it may make sense, but the mileage limits make it dicey. Otherwise, IMO, its throwing away money.

Upside, you can get a much more highly optioned car or upgraded model for the same money you would spend on a purchase. Some leases offer maintenance programs so you may never have to pay for oil changes, and of course  you can swap out cars every three years.

[1970Moparmann]

Troy,

The other issue is the residual value of the vehicle.   A Ram will keep it's value pretty well, but a Journey, not so much. 

I've looked into leasing / buying many times and have always bought - that's just me though.   

I would suggest buying a used Journey, and then put the equity of the trade in into the new Ram.  Your payment should be fairly low if you have some equity built into it.

[birdsandbees]

I've always explained it simply.

Leasing is for business vehicles. The lease expense is 100% deductible. If you bought it you would only be able to depreciated it over time and (in Canada) the depreciable limit is $30,000 + tax. That won't buy you much more than a Ford Fucus

Buying is for private individuals, as leasing is an absolute waste of good money if you have nothing to claim it against.