My first lease, curing my BITOG syndrome

[JoelB]

Got a lease deal i couldn't pass up this weekend on a new 2020 corolla SE. I've been drawn to a lease for a while now for a few reasons. Since I don't plan on keeping the car after the 3 years/36k miles I have no anxiety about oil changes, rust, micro marring, wear and tear on interior.

It also comes with "Toyota care" which is basically 25k miles of free service. So for the first time in a long time I wont be under this car for any reason for 2 years. I plan to maintain the car by the book, not abuse it in any way. But it feels good that i don't have to worry about the long term.

The car is awesome. I've never owned a new Toyota. Could be in my head but it just feels so quality. Pretty wild to me that this 0w16 FF is going to go 10k miles but it is what it is.

 

[joekingcorvette]

I had a 2003 Corolla and it was one dependable car. Congrats!

 

[BMWTurboDzl]

My own experience with leasing is that I find out that I end up wanting to keep the vehicle because I've taken better car of it from a cosmetic and wear-n-tear point of view.

 

[demarpaint]

Lease car, that I wasn't planning on keeping., that would cure my BITOG syndrome too. I would do only what I was required to do, and nothing more. Seeing the condition some of the lease returns I checked came back in, and talking with the customers, doing the bare minimum maintenance would be a blessing.

 

[ZebRuaj]

It's a Corolla and a lease vehicle. You are wasting money if you maintain it by the book. Do the oil changes as needed for 3 yrs. If it needs anything else, you are either abusing it or you got a lemon.


Side note .. how's the headlights in the 2020's? The previous gen's LED's irked me as an oncoming driver. Spray and pray.

 

[SwampSurvivor]

Originally Posted by demarpaint
Lease car, that I wasn't planning on keeping., that would cure my BITOG syndrome too. I would do only what I was required to do, and nothing more. Seeing the condition some of the lease returns I checked came back in, and talking with the customers, doing the bare minimum maintenance would be a blessing.


Yep. Saw that coming with fiance's leason. Makes a nice DD. It was rear ended a few months back so now I don't want it.

 

[doitmyself]

I would say that leasing a car as a solution to avoid OCD compulsion to maintenance, scratches, micro-marring, interior wear, etc. still qualifies you as having BITOG syndrome, LOL.

I assume you are prepared to accept the upcoming onslaught of BITOG advice about the evils of leasing and/or not buying the car with cash!

Hey, enjoy your new ride. I have an old rust bucket work place truck and it IS nice not to worry about dinging it up.

Some recent body work I just completed:

 

[JoelB]

I can definitely acknowledge that leasing isn't a great financial move. But I live a simple life and have a decent job so this is an area i can live with being less than perfect financially. The lease is only costing me $184 a month so it's really not a terrible deal I don't think.

 

[ARCOgraphite]

Originally Posted by JoelB
I can definitely acknowledge that leasing isn't a great financial move. ...The lease is only costing me $184 a month so it's really not a terrible deal I don't think.


That's fine. Most studies have shown its a wash to buy and keep for 6 years or lease.

I imagine a Corolla would be perceived as a big step up from a Spark. The little Daewoo are " pretty horrid" says Simon C.

This is coming from a guy who loves micro cars, having owned Fiat 128, Yugo GV, Suzuki Sprint, Subaru Justy 3 cylinder.

BTW you will be under there to get the FF out at 3500 - 5000 miles.

You just have to

 

[nickaluch]

Enjoy the new ride. When the lease is close to finished check carvana or similar to sell it you might make a few bucks

 

[Mad_Hatter]

Too early to say you're cured.. besides, you're still on BITOG....

 

[JoelB]

Yeah cured is a strong word. I may have already pondered a supertech 0w16/ OE filter oil change before 5k....

 

[Mad_Hatter]

Originally Posted by JoelB
Yeah cured is a strong word. I may have already pondered a supertech 0w16/ OE filter oil change before 5k....

 

[JeffKeryk]

There are good leases and bad leases. I'm sure you did fine.
You will love your Corolla.
Take good care of it; you just might want it at lease end.

 

[jeepman3071]

As much as I think leasing is not the smartest financially, I can understand why people do it who live in the salt belt. It makes more sense than the depreciation hit on a new vehicle, which will be a rusty piece of junk after 5-6 years here. I see a lot of guys buying $80-90,000 trucks that have frame and body rust after 2 years, especially those used for plowing.

 

[gofast182]

As long as you went in knowing you were a good candidate then you will be fine. I wouldn't want to buy a depreciating asset if I met the criteria for a lease.

 

[IronMaidenRules]

Originally Posted by JoelB
I can definitely acknowledge that leasing isn't a great financial move. But I live a simple life and have a decent job so this is an area i can live with being less than perfect financially. The lease is only costing me $184 a month so it's really not a terrible deal I don't think.

Was this with $0 down? If so, that's a fantastic deal.

 

[Mr Nice]

Corolla = reliable transportation

 

[Mr_Luke]

Toyotas sure are ice. I bought a leftover 1999 Tacoma SR5 extra cab once. I've also driven many Corollas of various years, mostly 90s cars.

I thought of a Corolla lease myself but I'm probably too cheap to go for it. I think I could lease one for $159 a month with $____ due at signing.
I better use up the oil and filters I've already collected for my current car, LOL.

 

[JohnnyJohnson]

What is this doing in Passenger car motor oil?