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Message
re: Questions on Leasing a Vehicle
Posted on 3/6/14 at 1:40 pm to LSUfan4444
Posted on 3/6/14 at 1:40 pm to LSUfan4444
quote:
Serious question...do you really not think you can find a quality AWD vehicle for $15,000 that will hold value in three years?
The value of what you have/own in three years has to be taken into account, not just what you spend over the three years prior.
If I were to buy a vehicle right now for $10k (not $15k) you would have to assume it's at least 5 years old. By the time I'm done with it, it would be 8 years old. In a vehicle that old, you're guaranteed to have to do some type of serious repair and by the time you go to sell it, it's 8 years old and you can't get it off your hands.
This post was edited on 3/6/14 at 1:41 pm
3
Posted on 3/6/14 at 1:41 pm to Corkfather
what is most you could get hands on if buying to put down? Including any you may or may not receive from selling a previous car
Posted on 3/6/14 at 1:42 pm to Corkfather
quote:
My monthly payment would be more than double, if not triple.
Nah, $10k, around 2% will be under $400/month for 36 months and even less for 48 (but 48 might be harder to find)
$100 extra per month = $3,600....for $15k, you can find a vehicle worth more than $3,600 in three years
Posted on 3/6/14 at 1:42 pm to Corkfather
No one is going to tell you what you want to hear, so I will. Drive what you want. If you're ok with the mileage limits, go ahead and lease whatever you want. A lot of these Dave Ramsey drones don't realize that some people derive enjoyment and value out if driving a nice car instead f the cheapest reliable shitbox to get from point A to B.
Posted on 3/6/14 at 1:42 pm to Corkfather
If you aren't in a position to outright purchase a vehicle in cash, whether you buy or lease a brand new vehicle, you're throwing away a lot of money unnecessarily. If you have so little cash that you need to finance a vehicle, don't finance something that's guaranteed to lose nearly half its value in the 2-3 years you'll be driving it. Get something used.
Posted on 3/6/14 at 1:43 pm to Corkfather
If you are making that kind of bank why don't you save $ for a while and buy a new/program vehicle damn near outright?
Posted on 3/6/14 at 1:43 pm to LSUfan4444
quote:
Nah, $10k, around 2% will be under $400/month for 36 months and even less for 48 (but 48 might be harder to find)
I was responding to someone that said I could get a new vehicle with one of those 0% down deals.
Posted on 3/6/14 at 1:43 pm to LSUfan4444
quote:
Nah, $10k, around 2% will be under $400/month for 36 months and even less for 48 (but 48 might be harder to find)
Don't play dumb. Obviously he was talking about buying the same car he would be leasing.
Posted on 3/6/14 at 1:43 pm to Corkfather
you would also save 4k during that same 3yr time span that could be used for another better car
Posted on 3/6/14 at 1:43 pm to eljusterina
quote:
If you are making that kind of bank why don't you save $ for a while and buy a new/program vehicle damn near outright?
Because come April 1st I will have no way to get back and forth to work.
Time is the main issue here. Not to mention I have to buy everything. I don't have a single piece of furniture; no bedroom set, sofa, table, etc. I don't even have a lava lamp.
This post was edited on 3/6/14 at 1:45 pm
Posted on 3/6/14 at 1:44 pm to Corkfather
quote:
If I were to buy a vehicle right now for $10k (not $15k)
Why 10k? You have over $5k now, right?
$5k down, finance $10k?
Posted on 3/6/14 at 1:44 pm to Corkfather
dp
This post was edited on 3/6/14 at 1:45 pm
Posted on 3/6/14 at 1:45 pm to LNCHBOX
quote:
some people derive enjoyment and value out if driving a nice car instead f the cheapest reliable shitbox to get from point A to B.
By all means, if he wants to spend money he hasn't even earned yet and come out on the other side with nothing to show for that money except the memories of his pleasure driving it, rock on.
This post was edited on 3/6/14 at 1:46 pm
Posted on 3/6/14 at 1:46 pm to Jack Bauers HnK
quote:
If you aren't in a position to outright purchase a vehicle in cash, whether you buy or lease a brand new vehicle, you're throwing away a lot of money unnecessarily. If you have so little cash that you need to finance a vehicle, don't finance something that's guaranteed to lose nearly half its value in the 2-3 years you'll be driving it. Get something used.
My wife's Prius we bought new at invoice and 0% apr. It will be worth more that 50% of its value in 3 years. Your entire post is a fail in my situation.
Put down your Dave Ramsey bible and realize that al situations are different.
Posted on 3/6/14 at 1:46 pm to LNCHBOX
quote:
Don't play dumb. Obviously he was talking about buying the same car he would be leasing.
That's absurd.
Buying a $40k infiniti isn't an option.
His options are leasing a car, or buying a car, not what is the best way to obtain the Infiniti G37. The money is finite, but the choice is the best way to spend the $15k over three years.
Posted on 3/6/14 at 1:46 pm to LNCHBOX
quote:
No one is going to tell you what you want to hear, so I will. Drive what you want. If you're ok with the mileage limits, go ahead and lease whatever you want. A lot of these Dave Ramsey drones don't realize that some people derive enjoyment and value out if driving a nice car instead f the cheapest reliable shitbox to get from point A to B.
typical. If you practice some sound financial decision now you can have what you WANT later. This is the problem with the nation's economy
Posted on 3/6/14 at 1:46 pm to Jack Bauers HnK
quote:
If you aren't in a position to outright purchase a vehicle in cash, whether you buy or lease a brand new vehicle, you're throwing away a lot of money unnecessarily. If you have so little cash that you need to finance a vehicle, don't finance something that's guaranteed to lose nearly half its value in the 2-3 years you'll be driving it. Get something used.
It's not that I don't have cash, it's that I have to do all of this in a two-week time frame and I'm starting with nothing.
I take home more than $1500 a week, not every two weeks, every week. I also have access to about $10k so I was gonna do half on the car, half on the apartment, furniture, etc.
Posted on 3/6/14 at 1:46 pm to LNCHBOX
quote:
My wife's Prius we bought new at invoice and 0% apr. It will be worth more that 50% of its value in 3 years. Your entire post is a fail in my situation.
Your prius will lose more value in the first 3 years than in the next three years. If you have the finances to afford that, great. But if you had bought a 3 year old Prius and driven it for the same amount of time, what could you have purchased with the difference you would have saved in depreciation? That difference is the premium you paid to drive a brand new prius. There's no morality to it, just economic reality. If that cost was worth it to you, then it was the right purchase for you.
This post was edited on 3/6/14 at 1:50 pm
Posted on 3/6/14 at 1:48 pm to Jack Bauers HnK
quote:
By all means, if he wants to spend money he hasn't even earned yet and come out on the other side with nothing to show for that money except the memories of his pleasure driving it, rock on.
I'm single with no kids. I could cover $249/month if I lost both legs and went blind.
Posted on 3/6/14 at 1:49 pm to Corkfather
you can get a 2012 G37AWD for 22k.
put down the 5k and finance 17k and you would still be in a better position. Truth be told if you can't afford something don't reach for it
put down the 5k and finance 17k and you would still be in a better position. Truth be told if you can't afford something don't reach for it
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