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rich
Dodge Dakota
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5/24/2005
23:32:55
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 Subject: lease a new dak or keep the old
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hey guys should i lease a new dak 2005 ST suto with 4x4 for 3200 on a 24mth/24,000 mile lease and sell my 98 CC sport or just keep the 98??? Any help would be appreciated since i have to decide by this friday.
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rjwerning
Dodge Dakota
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5/25/2005
00:45:07
|  RE: lease a new dak or keep the old
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My personal opinion (since you asked) - I'd never lease a vehicle except for a business. IMO all a lease does is let you drive a vehicle you can't afford. If there are any problems (excess mileage, dmg, etc), you're screwed.
Now, having said that.. just 2 months ago I traded in my 98 Dak 4x4 v6 and bought a 05 4x4 4.7L v8, and I love it. There is no comparing the ride or performance of the two (keeping in mind the v6 vs v8 upgrade).
With the $2000 loyalty discount (trading in a dak), $1000 discount for using Chrysler financing (3.9%), and the $7k tradein of my 98, it was a no brainer for me to upgrade to the 05 - but my financial situation may differ from yours. But, if you can get some of the same discounts I don't think the difference between lease and own would be that significant.
hope this helps,
RJ
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another mark
Dodge Dakota
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5/25/2005
00:54:16
| RE: lease a new dak or keep the old
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Leasing a vehicle is always a bad option unless you have money to burn.
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hae
Dodge Dakota
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5/25/2005
11:03:52
| RE: lease a new dak or keep the old
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Leaseing is fine ONLY if you plan on buying it at the end.
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RadioMan
Dodge Dakota
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5/25/2005
11:25:25
|  RE: lease a new dak or keep the old
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I kinda disagree with all the above. I have
leased Dakotas in the past and was very happy with
the outcome.
I look at it this way. Most buyers that buy a new
unit must go for the six year loan. After the six
years is finally up you're looking at trading in
the six year old Dakota.
Leasing a brand new Dakota every three to four
years cuts your monthy payments by about 1/3.
Most dealerships will even work with you on the
down payment also. I have NEVER put one red cent
down. It's always been sign and drive.
If the dealerships are hungry enough, they will
wheel and deal with you. You just gotta keep an
eye on the TV ads for the right time to turn your
leased unit in. It's like playing a game.
The Dakota I own right now is a 02 and I bought
it. I'm kinda sorry I did.. Next one will be
leased. Lets face it, you're *paying* for one all
the time anyway.
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Pete
Dodge Dakota
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5/25/2005
14:30:09
| RE: lease a new dak or keep the old
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I personally would never lease a vehicle because I like the idea of owning my vehicle and doing what I want with it. I can be perfectly content driving something that is 5-10 years old.
I can completely understand why people would also want to lease vehicles though. You get a new car every couple of years, and you don't have to worry about things breaking, most of the time. Ofcourse, someone can drive the same car for 10 years and not have many problems, then you can have someone get a brand new car that has to be in the shop once a month.
If you have the ability, time, and know-how to work on your own car, then I would say to keep the older dakota. Work out how much money is actually coming out of your pocket, and see if that is worth the peace of mind of driving a new vehicle. Buying a new vehicle would be different because you have something to show for it after all of that money leaves your wallet.
Good luck with it.
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daddio
Dodge Dakota
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5/25/2005
14:40:50
| RE: lease a new dak or keep the old
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i would lease if :
1) i drove less than or equal to the 12-15k miles a year they give you.
2) needed a new vehicle every 2 to 3 yrs
3) didn't have to come up with anything down at signing.
my $.02
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.boB
Dodge Dakota
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5/25/2005
15:08:56
| RE: lease a new dak or keep the old
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The dealerships around here really push the leasing aspect. Hmmmm, I wonder why that is????
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another mark
Dodge Dakota
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5/25/2005
18:46:42
| RE: lease a new dak or keep the old
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People who are really smart, save their money and haggle the price down with the dealership. I love strong arming salesman at dealerships. I do it for friends too. It's fun to go in there knowing you don't have to buy anything and seeing how much you can mess with them. Walking out the door is a great tactic too.
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TheOtherBear
Dodge Dakota
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5/25/2005
20:44:39
| RE: lease a new dak or keep the old
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I leased my 05 CC Dakota SLT V8 - I did a ton of research ahead of time, and what I found interesting was that seems like everybody has a complete 100% view either way about leasing - good or bad.
Frankly, it's a mixed bag for me. I paid for only 12K miles/year, which is too few, but I've started a small savings account to pay for them IF I decide to walk away. My residual is $15.1K at the end of 39 months (now 36 months), which is not bad for a three year old V8 Dak SLT with ~40,000, and it IS negotiable, so I may be able to get it for less.
All in all, I may be paying seven years for this vehicle...BUT, I traded in a 1997 with 160K miles and a high interest note that still had almost a year and a half left on it, and I'll STILL be 40% under that mileage at the end of this relationship. Plus, the dealership made my first payment and all lease inception fees, so no money traded hands.
I'm not much of a modder anyway - all I've done is replace the stock front speakers, add bed caps and a drop-in bedliner, and slap on some Yokohama Geolander 265x70x16's for what offroading I actually do. My payments are easily manageable (I did walk out three times on this guy, so I hammered the payments pretty low), I got a brand new truck and if I decide to buy it at the end, I know EXACTLY what's been done to it and when. Also, I can trade it in near the end of the lease, with a little cash down, and avoid damage and mileage costs altogether if I want something else..
Yeah, if you can write the vehicle off, definitely lease. Yeah, if you want a new vehicle every three years, definitely lease. If you prefer to drive vehicles into the ground and have the time and expertise to work on them yourself, DON'T lease. If you do 22K/year, DON'T lease. If your job/income situation is shaky, DON'T lease - leases can be a serious bitch to get out of.
But even if you're in an equity position, and think you'll buy it (at this point, I'm leaning toward buying it, but I got a long way to go yet before I have to decide), you can get into something nice at 0 miles with a warranty at lower cost. And once I decide I WILL buy it, screw the mileage - I'll drive the heck out of the thing, since there's a set cap on what the finance company can charge me for it at the end. (Mileage/damage only counts if you turn it in and walk away, it doesn't change the residual price.) If I hit the jackpot during the lease and love the truck, I can buy it anytime I want.
I'd be last guy on earth to promote leasing - but if you have a compromised credit situation, a bunch of negative equity on your current ride, or feel fairly strong that the vehicle is perfect for you and you may buy it, consider the lease. And hammer the dealer for a great deal - get at least one other offer in hand, go in during the last few days of the month, be prepared to walk out, and make them throw everything into the deal - bedliner, first payment, fees, etc....
I've described my deal to at least four other salesmen from different shops - my trade value, credit position, monthly payment and residual - every one of them said I got a great deal and did the right thing. One guy said I should send a XMas card to my salesman every year because the deal he made me.
None of them had any incentive to lie, and two of them said there was no way they could have made that same deal on the same vehicle.....
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Justin
Dodge Dakota
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5/26/2005
21:04:29
| RE: lease a new dak or keep the old
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"you can pay for something and own it, or you pay pay for something and let someone you don't know have it...." my opinion on leasing...
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Dan M
Dodge Dakota
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5/27/2005
06:26:14
| RE: lease a new dak or keep the old
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The big thing that makes leasing attractive is the prce, it's considerably cheaper than a loan to buy. Alot of marriages end in divorce and alot of single parent's can't afford a house, a new car payment, and kids. Leasing is the "best" option for many.
Do, or would you drive over the amount of miles for the lease? That's the big downfall.
Alot of people simply are not buying new vehicles, check the news and you'll see sales are down, ford and GM credit ratings are junk.
I know plenty of people who lease vehicles every 2 years. Why? I asked and here's what they tell me . It's cheaper than buying, the vehicle is always under warranty and saves on repair costs. You mean i can get a new vehicle every 2 years and not spend much money out of pocket? Brilliant!
- Dan M
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jay
Dodge Dakota
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5/27/2005
13:02:01
| RE: lease a new dak or keep the old
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i would never lease. im very happy with an older truck. i think its alot cheaper for me to have this older truck, and fix it once in a while, than pay a bigass loan off for 6 years. leasing a vehicle is like renting an apartment. after all that money spent you dont have anything!
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Joe.c
Dodge Dakota
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5/27/2005
16:32:46
| RE: lease a new dak or keep the old
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Forget it.. keep your old truck.. those 05's arn't worth the pain.
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ok
Dodge Dakota
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5/30/2005
20:43:58
| RE: lease a new dak or keep the old
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Why does everyone say after you lease it you don't own it? Yes thats true if you give it back at the end of your lease and yes that would be stupid, but if you buy it out at the end you've had lower payments for 36 months and then you own it, isn't that smarter?
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nugsfan
Dodge Dakota
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6/01/2005
02:23:34
| RE: lease a new dak or keep the old
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Well the big argument that everyone makes against it is that after the lease you dont own it, but you have had a new vehicle that you will probably roll into another new vehicle and continie driving. Take that and compare to purchasing on a 6yr note and after the 6yrs what do you have? A high mileage vehicle with low resale/trade in value. Sure you can drive it till the wheels fall off but what you actually own is a big step down from what you paid. The big determining factor is if you can stay within the allotted miles. If you cant its prohibitve and not a good idea to lease.
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