Does anyone lease their Titan?

Your Friend · 04-03-2007, 08:59 AM

I do. I have had mine since October. I traded in my 2003 Xterra and got a 2006 Deepwater SE with the popular and big tow packages. The truck was listed at 35,000. I told the guy I only wanted to test drive one and he started working on a deal right away. I deflected every offer until he said I can lease it for the same monthly payment I was paying on my Xterra and at the end of three years I only owe 11,000 on it, if I want to keep it. I thought it was a great deal since they agreed to pay off the balance on my Xterra and after three years I will owe less on the Titan than I did on the Xterra. I am very happy with the truck, I just want to know how many people lease their trucks.

Yellomantis · 04-03-2007, 09:13 AM

Sounds like you got a good deal on the truck. Just make sure they didn't sneak anything into the fine print. Dealers are sneaky with leases and tend to hide things in the fine print of the contract.

I leased a vehicle one time. That was the first and last time I will ever lease a vehicle. The only reason I see for leasing a vehicle is if it's for a business, for tax write off purposes.

mjbuck · 04-03-2007, 10:13 AM

I lease. Just picked up an '07 Titan Crew Cab LE. My wife leases her '06 Nissan Murano also. Both are 39 month leases with 39 thousand miles. She has had her vehicle for 15 months and the milege is currently at 11,900. I've had my Titan for 6 weeks and have 1,250 miles on it.

There are several reasons we found leasing to our advantage. The biggest is the lower payment. I live 2.5 miles from work, my wife 3 miles, so that helps keep the mileage low. This was a big factor in assuring we don't go over the allotted mileage. I was going to buy my Titan, but the salesman talked me out of it. He has known me long enough to know that we purchase new vehicles every 12 to 24 months and assumed I would do the same with my Titan. He showed me what I would owe after two years and what the resale value would be. He proved that I would be upside down on the loan after two years and would lose a significant amount on a trade in or private party sale. That is where the lease made sense the most. With leasing in mind, I made sure I drove every other truck available and researched each extensively. I wanted to make sure the Titan was the best choice for me and I wouldn't mind having it for 39 months. I really like the truck and I am not sorry I committed myself to it for that long. The dealership guarantees what the truck will be worth when the lease is up, so one option I have is to buy it outright. The other is to trade it in. There is also a chance the truck will be worth more than the approximate $17,000 value they state, which gives me the option of selling it and making a small profit, or trading it in and using the difference toward a new purchase.

We are also able to keep our leased vehicles like new both inside and out with proper maintenance and cleaning. (Having no children makes that a lot easier). The Murano looks like it did when we drove it off the lot new. So, for us leasing is by far the best route to go when considering new vehicles. There are many good articles on the web to help you determine if leasing is to your advantage. Hope this helped.

drse · 04-03-2007, 10:39 AM

I agree with mjbuck I've leased every vehicle I've had since 1995. As long as you are dealing with a reputable dealer (preferably with the fleet or internet manager) you should be getting a straight deal.

I get really impressed when the manager actually has you in his office and shows you the numbers as he is entering them into the computer. That way you know that they are not marking up the interest rate or anything like that.

These days, there is not much the dealer can hide in the contract. Unlike years ago when all they had to show was the payment. Now they have to disclose all the terms of the lease.

Yellomantis · 04-03-2007, 10:42 AM

Also, if you are going to mod the vehicle (like me) a lease does not make sense.

Psychlone · 04-03-2007, 11:14 AM

I've leased my last 5 trucks (not this one though...I'm KEEPING it!)
The only thing that sucked was the down payment...dishing out $4000 to drop the payments isn't something I looked forward to every 3 years (and not getting to keep the truck!)
But, my last leased truck was an '02 Dakota, which I lifted, put chrome wheels and 33/12.50 MTs on, tool box, graphics on the side, stereo...I put about $2000 into it and when I got my Titan, they paid it off, AND gave me an extra $1800 toward my downpayment because of the extras I did to the Dakota. - So for me, it paid off...AND I got into the truck I wanted (financed instead of leased this time), with the payments I wanted!

Psychlone

Your Friend · 04-03-2007, 11:28 AM

Quote:

Originally Posted by Psychlone

I've leased my last 5 trucks (not this one though...I'm KEEPING it!)
The only thing that sucked was the down payment...dishing out $4000 to drop the payments isn't something I looked forward to every 3 years (and not getting to keep the truck!)
But, my last leased truck was an '02 Dakota, which I lifted, put chrome wheels and 33/12.50 MTs on, tool box, graphics on the side, stereo...I put about $2000 into it and when I got my Titan, they paid it off, AND gave me an extra $1800 toward my downpayment because of the extras I did to the Dakota. - So for me, it paid off...AND I got into the truck I wanted (financed instead of leased this time), with the payments I wanted!

Psychlone

That is the reason I think I really think I made out good I didn't have to put anything down on my Titan. I only traded in my Xterra.

baggettp · 04-03-2007, 12:08 PM

I am leasing mine. Couldn't pass up the deal.

Nutdotnet · 04-03-2007, 01:09 PM

Quote:

Originally Posted by baggettp

I am leasing mine. Couldn't pass up the deal.

Same here.

I pay $18 over the life of my 39-month lease as "rent charge" which is essentially the same as an interest rate. The rest of my payment goes towards "depreciation", which is essentially the principal on the "loan".

So, at the end of my 39-month lease, all the $$$ I've paid towards the truck is attributed TO the truck. If I decide to re-finance I only owe the difference between the purchase price and the sum of my payments minus $18.

If I decide to not keep it I should be able to trade it in with a little positive equity, and I know if I sell it privately I'll come out a head...it was really a win-win situation for me. I've had the vehicle 6 months now and I have 3400 miles on it...

Even without the rebates I came out ahead.