re: Questions on Leasing a Vehicle

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I don't have the money to buy outright or put down a $10,000 down payment. I can lease a car for what I'd put down in something new.

I have to get an apartment (or possibly buy a house), furnish it, and move up here. I'm not gonna get a shitty apartment so I can buy car. I don't have the time or the money to buy. I'm not going to have any money from my F-150 because I'm not selling it.

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then you simply don't need a car. I know you have some functional transportation mode

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then you simply don't need a car. I know you have some functional transportation mode

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How am I supposed to get around? Put grease on my arse and slide?

I can't bring the truck up here because it's 2-wheel drive and you have to consider the winter when you buy something up here. Not to mention if there's someway I can claim it on my tax return...

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I am not in agreement with Dave Ramsey

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One of the flaws with Ramsey's arguments is basing it on a five-year lease. No one in their right mind leases a car for five years and pays for tires, batteries, tune-ups, etc. when the odometer passes 30,000. The whole point is to drive a trouble free vehicle that is covered by the manufacturer's warranty and costs you nothing for maintenance.

BTW, my last two leases were worth more than the residual value at lease end. Instead of turning them in to the leasing company, I sold them outright to the dealer and got the seed money for the next leases. Sweet.

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Dave Ramsey's answer when asked to point out flaw's in leasing:

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Clark Howard's view, he been on CNN and well known around Atlanta,

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At the end of the lease, it’s called the residual value. If you pay $400 a month for 60 months, you pay $24,000 before turning it in. The car will not have gone down in value more than that, because the car companies would lose money if it did. When they get the car back, you will have paid them more than the car has depreciated during that time.

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What he said.

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buy a 10k used 4x4 truck. Save your money and let it work for. You gonna be a slave to the man the rest of your life

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I'm just doing research bro. It's not a "I want it now" thing, I've been looking at cars for over a month now. Do you know what $10,000 will get you for a 4x4 truck? A beater that someone dogged the frick out of and has 80k+ on the odometer.

You think I'd really get 3 years out of that $10k? The total of the lease, down payment and monthly payments, is under $15k. That's not including interest (which I still need to look into) or the fees and TT&L, but I'd pay those on something I bought anyway.

If I had the money to buy, I would.

Capitalized cost reduction is that $4,000 they want you to pay at signing. You are paying for that depreciation right up front. You take the hit, they do not.

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Serious question...do you really not think you can find a quality AWD vehicle for $15,000 that will hold value in three years?

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You just raised the cost by 50%. That's not really fair

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I also need to find an apartment, furniture, etc. I have a lot of expenses right now and buying something outright would really eat away at my budget and I'd wind up sacrificing on pretty much everything else

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You write that you need money to cover other expenses yet have to come up with more than $4600 up front.

I think you should check into a high quality used car or a new car with zero down. I bought a new car about 6 months ago, put nothing down and it has 0% interest financing. I you could get the same deal you wouldn’t have to come up with any upfront money and would have more money for your other expenses.

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I think you should check into a high quality used car or a new car with zero down. I bought a new car about 6 months ago, put nothing down and it has 0% interest financing. I you could get the same deal you wouldn’t have to come up with any upfront money and would have more money for your other expenses.

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My monthly payment would be more than double, if not triple.