- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Never leased a car before
Posted on 10/20/18 at 7:43 pm to LSUtigerME
Posted on 10/20/18 at 7:43 pm to LSUtigerME
quote:
Do you understand how interest and depreciation works?
If you buy a new vehicle, you’ll sink 20k into it regardless. Leasing only puts you on a schedule to replace it and renew the terms.
Yeah especially a 40-50k vehicle.
Posted on 10/20/18 at 7:46 pm to Joshjrn
quote:
I have friends who are attorneys who can't figure out how to tip 20% after dinner. I also have friends who are attorneys who can do math on the fly that blows me away. Unless the attorney practices in an area in which math is relevant, I imagine we, as a cross section, are fairly similar to any cross section done of the general population.
Aptitude for math can be a large contributing factor in choosing a career, and it usually shows up early in a person's educational path. For 2016-2017 applicants to ABA law schools who had a undergrad degree in any type of engineering, physics, computer science, math, a physical science etc, all combined together was was less than 5%, by comparison 18% had PolySci degrees, 5.6% had criminal justice degrees. Compared to a cross section of the population engineering and sciences is probably not too far off, but PoliSci and Criminal justice are pretty high.
Posted on 10/21/18 at 12:04 am to EA6B
Would you mind rephrasing that? I appreciate that it’s a bit past my bedtime, but the only interpretation I’m coming up with for your post is absurd, so I assume I’m misreading it
Posted on 10/22/18 at 6:57 pm to Joshjrn
quote:I think he’s saying that very few law school applicants have a math-heavy undergraduate degree.
Would you mind rephrasing that? I appreciate that it’s a bit past my bedtime, but the only interpretation I’m coming up with for your post is absurd, so I assume I’m misreading it
I’m not 100% sure what that means in regards to the op, other than maybe like the regular population, lawyers aren’t really math-focused.
This post was edited on 10/22/18 at 6:59 pm
Posted on 10/22/18 at 7:34 pm to buckeye_vol
So in the MB’s opinion, what is the ideal car buying situation?
Posted on 10/23/18 at 2:49 pm to lnomm34
quote:
$19k to drive the car for three years and have nothing in it at the end?
And what do you have after three years of paying a note? You'll be screwed on the sales tax and you'll have a three-year old car with an expired warranty.
Posted on 10/23/18 at 3:09 pm to Layabout
im pretty confused. I leased a new car in 2012. 3 year lease at $225 month and I put $1,500 down. After 3 years I had the option to buy then 2012 CRV which would be 3 years old with 36,000 for about $15k
Go find me a 3 year old CRV under 40k for 15k
Also if you can that's fine but it couldn't be much cheaper and I was the driver of it brand new so I know how it was driven
Go find me a 3 year old CRV under 40k for 15k
Also if you can that's fine but it couldn't be much cheaper and I was the driver of it brand new so I know how it was driven
This post was edited on 10/23/18 at 3:17 pm
Posted on 10/24/18 at 6:07 am to iAmBatman
quote:
What happens if you put that money down and then the car gets wrecked..that down payment is lost.
Almost all manufacturer lease contracts include what is called gap insurance that covers you if the vehicle is totalled.
Posted on 10/24/18 at 6:25 am to gobuxgo5
quote:
Go find me a 3 year old CRV under 40k for 15k
Just searched on cargurus, there are over a hundred 2015 CRVs with less than 40,000 miles listed for sale for less than $15,000.
Posted on 10/24/18 at 7:25 am to lnomm34
Honda buys it out at the end so if I changed my mind I'd just turn it back in and not take it for the buy out price
Posted on 10/24/18 at 3:54 pm to Tiger Attorney
quote:
I've always bought. Wife wants a '19 Acura RDX. leasing seems like maybe the better option. I want to put down a max of 7500 and the note would be in the 320 range for 36 months. 15000 miles per year. To buy with 15k down, would be 5 years at 480 or so per month. This was at Walker Acura. We plan to go up to BR soon. Typically, we have kept cars 6 or so years, but I am not married to that idea. Thoughts on leasing?
Everyone has their opinion, but I spent 27 years in the luxury car business and know leasing. Happy to help, fire your questions away, as I am PRO leasing.
Posted on 10/24/18 at 4:32 pm to Layabout
quote:gap insurance covers difference in the value of the car and what you owe. It does not get you your down payment back.
Almost all manufacturer lease contracts include what is called gap insurance that covers you if the vehicle is totalled.
Posted on 10/24/18 at 5:53 pm to gobuxgo5
So I get down voted but let's do the math.
I pick out a sticker price $26k CRV. For the 1st 3 years I paid a total of $9,960 (lets round up to 10K)
After the 3 years, I can buy it for $14,600 (Let's round up to 15K)
If I decided after 3 years I liked it enough to keep it I end up paying $25k after all taxes and fees.
Is it cheaper to buy? A little.. but if technology is rapidly changing and you may want to upgrade I don't want to get pounded in the arse trading in a car with thousands in negative equity. I'd rather pay a little more for years 1-3 if its a fair deal and I'm not 100% sure it'll be a 10 year car for me. The buy out option is great.
I pick out a sticker price $26k CRV. For the 1st 3 years I paid a total of $9,960 (lets round up to 10K)
After the 3 years, I can buy it for $14,600 (Let's round up to 15K)
If I decided after 3 years I liked it enough to keep it I end up paying $25k after all taxes and fees.
Is it cheaper to buy? A little.. but if technology is rapidly changing and you may want to upgrade I don't want to get pounded in the arse trading in a car with thousands in negative equity. I'd rather pay a little more for years 1-3 if its a fair deal and I'm not 100% sure it'll be a 10 year car for me. The buy out option is great.
This post was edited on 10/24/18 at 5:54 pm
Posted on 10/24/18 at 7:34 pm to gobuxgo5
quote:
I pick out a sticker price $26k CRV
This is where you are off. I'm not a pro leasing by any means, but you are thinking you are getting a great deal by going off the sticker price instead of the actual purchase price.
What you are saying is not wrong by any means. Leasing does make sense if you want a new vehicle. But the idea that a 3-5 year old vehicle is "outdate" is also pretty dang goofy. There's not much on a brand new vehicle that you can't spend $500 on after market to add to a 5 year old vehicle.
Its kinda goofy to argue whether buying a new vehicle regularly or leasing is better. The real answer is the best thing to do is buy vehicles off lease and drive for 3-5 years if you want newish vehicles for the best price.
But in all reality vehicles are just expensive depreciating assets so there's no cheap way to do it.
Posted on 10/24/18 at 10:06 pm to baldona
Ive bought 25 cars in my life and leased 1 and just saying it wasn't terrible. I get it. What about when technology changes rapidly and my buddy with his "amazing deal on the mercedes" is still saying "Audiox on" because he doesn't have a god damn USB port for the iPhone. Sometimes leasing good because the technology changes so much
Posted on 10/25/18 at 10:40 am to gobuxgo5
Lots of uneducated people on here talking about leasing.
First thing to know, is that not everyone is a candidate to lease. If you drive something like 20k miles/year, leasing really isn’t for you.
Second, not everyone wants to own a car for 10 years and 200k miles. Some people like new tech or whatever, and want a new car every few years or so. Those types of people should consider leasing.
Third, and most importantly, is each vehicle has a unique lease program. Some vehicles don’t lease well at all, and some can be had for killer deals. Someone mentioned it earlier, leasehackr is a fantastic resource.
Anyone making a blanket statement such as “leasing sucks” is 100% uneducated on the topic.
First thing to know, is that not everyone is a candidate to lease. If you drive something like 20k miles/year, leasing really isn’t for you.
Second, not everyone wants to own a car for 10 years and 200k miles. Some people like new tech or whatever, and want a new car every few years or so. Those types of people should consider leasing.
Third, and most importantly, is each vehicle has a unique lease program. Some vehicles don’t lease well at all, and some can be had for killer deals. Someone mentioned it earlier, leasehackr is a fantastic resource.
Anyone making a blanket statement such as “leasing sucks” is 100% uneducated on the topic.
Posted on 10/25/18 at 10:43 am to achenator
quote:
gap insurance covers difference in the value of the car and what you owe. It does not get you your down payment back.
Whoever downvoted you and upvoted the other post is an idiot. Shows that a lot of people here have no clue what they’re talking about.
Posted on 10/26/18 at 1:40 am to Powerman
quote:
That's pretty similar to a car loan that I had a few years ago. I got 5 more years out of it after paying it off.
Where do you find the 8-track tapes for your player?
Posted on 10/26/18 at 10:01 am to weagle99
quote:quote:
The 19k with nothing to show 3 years later was the tough part to wrap my head around.
And rightly so. I will never lease.
I mean technically, all things equal, if you had to sell your car after 3 years, it should be relatively close when comparing leasing to owning. But it only works if you compare at that 3 year mark. Not many people go into owning a car assuming they will only own for 3 years and stay under a certain amount of miles. That's when leasing can sometimes be better. Comparing outside of those terms and owning blows leasing out of the water. Comparing inside those terms and in some scenarios, leasing will be financially better.
Posted on 10/26/18 at 11:21 am to Tiger Attorney
$7,500 down is a LOT for a lease. You are not required to put money down, but your note will obviously be higher. It is also my understanding that if you total the car, you don't get the downpayment back from the insurance company.
Also, make sure you are still negotiating the sale price of the car. They might make it sound like the lease price is fixed, but it's not. You still need to settle on the sale price on the car, so be prepared to play hard ball. Finally, find out what the money factor is, set by the manufacturer. The dealer will mark it up obviously, but see if you can negotiate that as well. They aren't going to give to the minimum money factor, but you can at least try to talk them down a bit
Also, make sure you are still negotiating the sale price of the car. They might make it sound like the lease price is fixed, but it's not. You still need to settle on the sale price on the car, so be prepared to play hard ball. Finally, find out what the money factor is, set by the manufacturer. The dealer will mark it up obviously, but see if you can negotiate that as well. They aren't going to give to the minimum money factor, but you can at least try to talk them down a bit
Popular
Back to top
Follow TigerDroppings for LSU Football News