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Got told I'm throwing money away on my truck loan, now I'm second guessing the whole thing
I was at a cookout last Saturday in Austin and this guy I barely know starts going off about how leasing is the only smart move and financing a used truck is like setting cash on fire. He said my $487 a month payment on a 2019 F-150 is money I'll never see again, and I should dump it and lease something new. But I've got 14 months left on a 5 year note and the truck only has 52k miles on it, so I figured I'd own it outright soon. The other side is I could trade it in now, get maybe $24k for it, and use that as a down payment on a lease with way lower payments. My buddy who works at a dealership says holding onto a paid off truck is better than any lease deal, but another guy at the cookout said he's been leasing for 10 years and never had a repair bill over $200. So which is it, are we dumb for financing to own, or are lease guys just paying forever for something they'll never keep? Has anyone here actually run the numbers on both and felt good about their choice, or is it all just guesses?
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