New Auto Purchase question...
03-04-06, 10:28 AM
#1
Red Mist
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New Auto Purchase question...
For those of you who know... when is it worth it to lease a vehicle over financing a vehicle if in the end, i know i want to keep the car?
what information do i need to figure out if it's worth it or not? and how do i use the residual value to factor into it?
right now, the car i'm looking at has $2k cash incentives and rebates on it if i lease the car, no rebates or incentives if i finance the car...
hmmmm a little help from the west?
what information do i need to figure out if it's worth it or not? and how do i use the residual value to factor into it?
right now, the car i'm looking at has $2k cash incentives and rebates on it if i lease the car, no rebates or incentives if i finance the car...
hmmmm a little help from the west?
03-04-06, 11:14 AM
#4
From what I've heard, leasing is only a good idea if you:
a.) ...don't plan on putting many miles on the car, AND
b.) ...don't plan on keeping the car for more than a year or two, AND
c.) ...don't plan on changing your mind before your lease is up.
I've heard of people leasing cars that they knew were definitely going to depreciate a LOT, and then buying them after their lease was up. This is a bit of a gamble, IMHO, it will depend on the terms and stuff like that.
Financially, the best way to buy cars is when they're about 2 years old, and you can pay cash and avoid payments (and the interest associated with them). The only trick to it is saving ahead of time, and finding a car that hasn't been abused.
-s-
a.) ...don't plan on putting many miles on the car, AND
b.) ...don't plan on keeping the car for more than a year or two, AND
c.) ...don't plan on changing your mind before your lease is up.
I've heard of people leasing cars that they knew were definitely going to depreciate a LOT, and then buying them after their lease was up. This is a bit of a gamble, IMHO, it will depend on the terms and stuff like that.
Financially, the best way to buy cars is when they're about 2 years old, and you can pay cash and avoid payments (and the interest associated with them). The only trick to it is saving ahead of time, and finding a car that hasn't been abused.
-s-
03-04-06, 11:58 AM
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RWH = no longer PCS,
look into your current debt to income ratio, your comsumer debt and your credit card debt totals, how much liquidity you have before and after each auto acquisition scenario. Make sure you maintain your 1 month emergency cash reserve either way, and make sure that whichever car you get, you get the Belligerency's approval first.
If after you determine that your debt situation exceeds what your comfort level will support, should a health or financial emergency arise, lease.
If you know that after looking into your credit score at www.freecreditreport.com will net you the utmost lowest finance interest rate, finance. Keeping in mind of course, that adds to your consumer debt total.
look into your current debt to income ratio, your comsumer debt and your credit card debt totals, how much liquidity you have before and after each auto acquisition scenario. Make sure you maintain your 1 month emergency cash reserve either way, and make sure that whichever car you get, you get the Belligerency's approval first.
If after you determine that your debt situation exceeds what your comfort level will support, should a health or financial emergency arise, lease.
If you know that after looking into your credit score at www.freecreditreport.com will net you the utmost lowest finance interest rate, finance. Keeping in mind of course, that adds to your consumer debt total.
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03-05-06, 01:04 PM
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Originally Posted by Cowboyfun
IF you are gonna keep the car, do a lease, take the incentives and lower payments then refinance.
With all due respect, CBF, that is about teh woy'st advice one can give. It's like saying "go ahead and smoke, you'll feel the immediate gratification. You can worry about the consequences later".
RWH, look inside yourself to find your hero.
03-05-06, 01:36 PM
#13
Red Mist
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Originally Posted by SERIES7
RWH = no longer PCS,
look into your current debt to income ratio, your comsumer debt and your credit card debt totals, how much liquidity you have before and after each auto acquisition scenario. Make sure you maintain your 1 month emergency cash reserve either way, and make sure that whichever car you get, you get the Belligerency's approval first.
If after you determine that your debt situation exceeds what your comfort level will support, should a health or financial emergency arise, lease.
If you know that after looking into your credit score at www.freecreditreport.com will net you the utmost lowest finance interest rate, finance. Keeping in mind of course, that adds to your consumer debt total.
look into your current debt to income ratio, your comsumer debt and your credit card debt totals, how much liquidity you have before and after each auto acquisition scenario. Make sure you maintain your 1 month emergency cash reserve either way, and make sure that whichever car you get, you get the Belligerency's approval first.
If after you determine that your debt situation exceeds what your comfort level will support, should a health or financial emergency arise, lease.
If you know that after looking into your credit score at www.freecreditreport.com will net you the utmost lowest finance interest rate, finance. Keeping in mind of course, that adds to your consumer debt total.
which cars are belligerent approved? can i get a list please?
03-06-06, 02:13 AM
#20
For you my friend, nothing but thee best:
Lamborghini Gallardo (don't know if daddy would spring for the Murcielago)
M5- Why not?
M6- yeahhh
Corvette C6 ZO6
Now for the poor peoples picks:
just go grab a 3 Series
But keep it real... move up to an S5 Turbo Vert widebody.. yeaaaaahhh!
Lamborghini Gallardo (don't know if daddy would spring for the Murcielago)
M5- Why not?
M6- yeahhh
Corvette C6 ZO6
Now for the poor peoples picks:
just go grab a 3 Series
But keep it real... move up to an S5 Turbo Vert widebody.. yeaaaaahhh!
