Been renting my two extra cars on Turo for the past few months. Having a good time mostly, but I want to start scaling up and increasing profits. Looking at purchasing a new vehicle and trying to decide whether I should be leasing or purchasing. My #1 pick right now is a Tesla Model 3. Wanted a Tesla for a while (Model S, but I can work up to it), and knowing my goal is to sell once it hits 50K miles, I don't plan on keeping it longer than 3 years most likely if it even lasts that long. The confusing part I'm having is knowing figuring out the better deal between the two. I was thinking, 3 year lease w/ 12K miles and paying for any overages. Do I need to be concerned with the residual value at the end of the lease if I plan on trading up at the end anyway? Should I purchase to keep the payment low and sell at my leisure when I feel like the time is right?
Other honorable mentions for vehicles is a 3 series BMW, BMW SUV, Highlander, Tahoe, Jeep. AWD is a must with the winters here, don't trust anyone to put chains on a 2WD vehicle.
Other honorable mentions for vehicles is a 3 series BMW, BMW SUV, Highlander, Tahoe, Jeep. AWD is a must with the winters here, don't trust anyone to put chains on a 2WD vehicle.