Yeah, he said he'd buy it out at the end of the lease..but I wonder if he'd be in over his head paying more than it's worth at the end of the lease. He's got s McLaren though, so money isn't an issue to him probably.
Lease a hellcat for 399.99 a month
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Yeah, he said he'd buy it out at the end of the lease..but I wonder if he'd be in over his head paying more than it's worth at the end of the lease. He's got s McLaren though, so money isn't an issue to him probably.
...or more money than sense. A McLaren? Arent tunes for those like 4 to 6 thousandddddd dollars? lol
The battery cost $3000 for a MP4 12C
holy cow man
Here you go all you need to know about the MP4 12C and the maintenance headaches.
The guy giving lessons on depreciation is the same one with a "pile of cash" in the bank being eaten up by inflation year after year while his bank makes tons of money investing his "pile". #facepalm
Leasing a vehicle makes the most sense for my wife's car. I work overseas which means I'm gone 75% of the time. My wife does not have a mechanical thought in her mind. For me its about piece of mind. I have a wife and younger children I don't want my family worrying about any kind of mechanical issue with the vecicle while I'm gone. So I make sure she has an excellent insurance policy and has a vehicle with bumper to bumper warranty at all times. This way the most she ever has to worry about is $200 for the deductable if she happens to get into an accident. I dont have to worry about the stelaership or any other shop trying to rip her off over some sort of mainteanace that may or may not need to be done.
I make decent money but I'm not rich by any stretch of the word. I have my car which is paid off. There are times that a lease makes the most sense. Not all decisions are monetary based.
I make decent money but I'm not rich by any stretch of the word. I have my car which is paid off. There are times that a lease makes the most sense. Not all decisions are monetary based.
I have a 401k and a couple other investments going. I also keep a large amount of cash easily available as I don't ever plan to borrow again.
Apparently you feel if it isn't invested it should be burnt up on depreciating property asap.
I don't care if people live their lives in debt but if it ends up affecting me then its a problem. The problem is if people have debts they can't pay or die with less assets than debt those left over debts get passed on to the other consumers. This results in higher bank fees, medical costs, etc to the rest of us.
A prime example is the democrats have floated out debt forgiveness on student loans because of the massive debt crisis. That debt won't just disappear it will be paid for by tax payers.
I have a 401k and a couple other investments going. I also keep a large amount of cash easily available as I don't ever plan to borrow again.
Apparently you feel if it isn't invested it should be burnt up on depreciating property asap.
I don't care if people live their lives in debt but if it ends up affecting me then its a problem. The problem is if people have debts they can't pay or die with less assets than debt those left over debts get passed on to the other consumers. This results in higher bank fees, medical costs, etc to the rest of us.
A prime example is the democrats have floated out debt forgiveness on student loans because of the massive debt crisis. That debt won't just disappear it will be paid for by tax payers.
I always thought leasing was stupid until I met people at the dealership that actually did it. one was a realtor who burned up miles quick on his cars so he would just lease every few yrs for a newer model. majority of people who leased from what I saw weren't worried about money. they also don't care about 14 yr old Terminators...
best worst idea ever
I agree with you there bro. 100%!
No, just don't come in and criticize others like you have it all figured out. I also put away a decent amount towards 401k, and have a pension and have outside investments and also have a considerable amount in life insurance. But guess what? I lease a vehicle. Because it's worry free and monthly payments are way lower than if I bought the same car. Something happens, like the other day that the sound system wasn't working, I texted the salesman and he came to my house in the afternoon with a loaner and took mine. Next day he came back and dropped mine off and took the loaner.
I think you are missing the point, if you can afford it great but lots of people can't and still treat cars like they are cell phones.
Looking only at the monthly payment is stupid. Always negotiate the cash purchase price first. Remember you are buying a car, not a monthly payment.
Leasing a car has distinct advantages over buying a car:
1. No huge down payment.
2. Lower monthly payments
--Here is why: When you buy a $30,000 car you make payments based on that price minus the down payment. When you lease the payments are lower because the car isn't yours at the end of the lease. That means you don't have to pay for the whole car. That means the car that is worth $30,000 may still be worth $15,000 after a 36 month lease. So the leasing company would base their payments on $15,000 not $30,000.
3. You can walk away from the car at the end of the lease.
4. You can drive a more expensive car.
Sounds pretty good huh? No down payment, no headache of selling a used car...lower monthly payments...
Well there is a reason. Leasing is always more expensive then buying a car. That is because at the end of the lease you have nothing to show for all those payments. You can either drop the car off or buy it at the residual value.
There are two types of leases. Open and closed-end leases.
Closed end lease- Fixed residual rate with the option to buy.
This type of lease means that the residual value is fixed at the beginning of the lease and you have the option of purchasing the car at the residual value or simply walking away from it.
Open end lease- Fixed residual rate with the option to buy, BUT you must pay the difference.
With an open end lease there is still a residual value set at the beginning of the lease but if the car is worth more than the residual value then you must pay the difference. Always go for closed-end lease.
Money factor. This is the phrase used for the finance rate upon which the lease payments are based. The lower the rate, the lower the monthly payments. Obviously you want the lowest rate you can find.
GAP protection This is extra insurance coverage that will cover the lease balance and any early termination fees.
Mileage allowance
Watch the mileage allowance you are getting. If you are going to go over the allowence, trade your car in early. By doing that you can finance what you owe on the car by putting it towards your next lease instead of paying the mileage penalty up front.
Wear and tear
You have to keep the car in good shape. If you don't maintain the car well and run it down, you will be responsible for the damages at the end of the lease.
MISC. Fees
--Be prepared to give a security deposit.
Acquisition fee and Disposition fee. Ask for these fees to be negotiated out of your lease.
*******
Remember leasing a car is not different from buying a car. Never announce to the dealer you can pay x a month to lease a car. Start by negotiating the price of the car as if you are buying the car. Then negotiate the residual value and the excess mileage fees.
To lease or not to lease
-Leasing may be good for you if you want to invest your money in something other then a car.
-Drive a more expensive car
-Trade in every 2-3 years.
-No hassle of selling a used car
====
-Leasing may not be right for you if you usually drive your car more then 15k miles a year.
-You don't take care of your car.
-You want to keep the car long term
Bottom line. Make sure leasing is right for you, and make sure you understand everything you sign. Don't understand it? Walk away.
====
FWIW, I would never lease a car. For me, it doesn't make any sense. I mod and keep my cars long term.
Leasing a car has distinct advantages over buying a car:
1. No huge down payment.
2. Lower monthly payments
--Here is why: When you buy a $30,000 car you make payments based on that price minus the down payment. When you lease the payments are lower because the car isn't yours at the end of the lease. That means you don't have to pay for the whole car. That means the car that is worth $30,000 may still be worth $15,000 after a 36 month lease. So the leasing company would base their payments on $15,000 not $30,000.
3. You can walk away from the car at the end of the lease.
4. You can drive a more expensive car.
Sounds pretty good huh? No down payment, no headache of selling a used car...lower monthly payments...
Well there is a reason. Leasing is always more expensive then buying a car. That is because at the end of the lease you have nothing to show for all those payments. You can either drop the car off or buy it at the residual value.
There are two types of leases. Open and closed-end leases.
Closed end lease- Fixed residual rate with the option to buy.
This type of lease means that the residual value is fixed at the beginning of the lease and you have the option of purchasing the car at the residual value or simply walking away from it.
Open end lease- Fixed residual rate with the option to buy, BUT you must pay the difference.
With an open end lease there is still a residual value set at the beginning of the lease but if the car is worth more than the residual value then you must pay the difference. Always go for closed-end lease.
Money factor. This is the phrase used for the finance rate upon which the lease payments are based. The lower the rate, the lower the monthly payments. Obviously you want the lowest rate you can find.
GAP protection This is extra insurance coverage that will cover the lease balance and any early termination fees.
Mileage allowance
Watch the mileage allowance you are getting. If you are going to go over the allowence, trade your car in early. By doing that you can finance what you owe on the car by putting it towards your next lease instead of paying the mileage penalty up front.
Wear and tear
You have to keep the car in good shape. If you don't maintain the car well and run it down, you will be responsible for the damages at the end of the lease.
MISC. Fees
--Be prepared to give a security deposit.
Acquisition fee and Disposition fee. Ask for these fees to be negotiated out of your lease.
*******
Remember leasing a car is not different from buying a car. Never announce to the dealer you can pay x a month to lease a car. Start by negotiating the price of the car as if you are buying the car. Then negotiate the residual value and the excess mileage fees.
To lease or not to lease
-Leasing may be good for you if you want to invest your money in something other then a car.
-Drive a more expensive car
-Trade in every 2-3 years.
-No hassle of selling a used car
====
-Leasing may not be right for you if you usually drive your car more then 15k miles a year.
-You don't take care of your car.
-You want to keep the car long term
Bottom line. Make sure leasing is right for you, and make sure you understand everything you sign. Don't understand it? Walk away.
====
FWIW, I would never lease a car. For me, it doesn't make any sense. I mod and keep my cars long term.
The sad reality is that cars are to expensive for a lot of people to purchase so they turn to leasing. Lease = renting a car. The prices will continue to rise every year. Especially with all the technology people want added, MPG regulations and added safety equipment.
Do you keep your copy and paste replies in folders?
http://www.svtperformance.com/forums/threads/the-smartest-way-to-buy-new-cars.974460/page-3
https://www.svtperformance.com/forums/threads/any-good-lease-deals-on-trucks-out-there.903255/
Lol
I agree that people often live outside their means, I just don't see the point of pinching every penny for a rainy day mentality. There has to be some sort of happy medium where you save but still enjoy some luxuries in life. I've seen a good number of people at my job working their final years thinking about retirement and how well they have planned for it, then they retire and die 6 months later.
Ya spend a long time in the ground when it's over. So you better enjoy your money while you can.
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