[trishff]

Hi there, new to the board and have fallen in love with outlook. Yesterday went to saturn looking to get out of my 2001 Toyota Sequoia. Trade in value 7500. Very average condition, three kids and 1000 happy meals later.

I am very confused. Is it stupid to use the whole 7500 for inception costs and money down. The lese is for a demo xr fully loaded. The lease payment jumps about 100 dollars without using the whole thing. The inception fees are about 3000.

Please share your knowledge. Thanks.

Sequoia value is dropping every day.

 

[OL_Shopper]

I can't help you with the lease question. As far as trade-in value, Edmunds says a fully loaded 80K mile Sequoia is over $11K on trade in. I'm in the same situation with my wife's 2001 Durango. Edmunds says $6490 trade in for mine, a Dodge dealer offered $4K in initial negotiations on an '09 Journey (this was before we found the Outlook). I'm hoping the Saturn dealer will be more generous, or we may try to sell it outright.

 

[loach]

Leasing is the most expensive way to drive, so I'm always opposed to it. But I think even leasing fans would tell you that putting a bunch of money down on a lease is a bad move.

What would your '01 Sequoia be worth today if you had leased it? Oh right, you wouldn't be driving it but instead would have leased an '04 Sequoia and then an '07 Sequioa - all worth nothing at the end of each lease.