New Car....

[cvm4]

As long as you resign yourself to the fact that you will always have a car payment and UNDERSTAND the cons as well as the pros to leasing it is fine.

Bingo! You never build equity (if you can call it that) in the vehicle and you have to give it back after making all those payments. And when you give it back you have to either lease or buy :dunno: Some people like new cars and a payment to go along with it. Buying/financing is the only way for me eace:

 

[Saully]

Bingo! You never build equity (if you can call it that) in the vehicle and you have to give it back after making all those payments. And when you give it back you have to either lease or buy :dunno: Some people like new cars and a payment to go along with it. Buying/financing is the only way for me eace:

I bought my car in July of 2001. It has been payment-free for the past year. I don't know how much longer it will last until it starts needing regular repairs but the past year without payments has been great.

 

[mealstrom]

Nice! Want to come steal my car?

 

[rpb67]

Just finalized the lease on the new car today.

Old one goes back Tuesday and the new one comes home.

 

[CWS]

It really is a mind set. No problems, no repair costs, new car...every couple of years. You really dont build equity in a car because it depreciates too fast. It you add in the cost of up keep on an older car you might be suprised what you are paying. I have both. I lease a car and have a new one all the time. I have two I own outright. Leased car just watch the mileage and I have a new car every couple of years. Yes I make payments but I am only paying for the part of the car I am using. Buy a car and it depreciates the minute you drive it off the lot. Your paying for future use that you may or may not get. If it runs for 10 years, great. If it breaks down and you put $5000 in an engine and tranny, you start over but now with an old car.

 

[ATCDub]

I like buying two year old cars that have come off a lease. My wife's car was bought this way. I'm not a fan of leasing vehicles but I also don't really care about having a new car every three or four years. The last new vehicle I bought was my '02 truck. I had it on a three year note and today it's got about 53,000 miles on it. I hoping to get another 5 years out of it. Leasing does work for many people so I don't fault anyone for getting one. For me I would just be paying the depreciation on one for 2 or 3 years then be right back in the same boat looking for another car. Personally, I think if you're looking for a value then do your research on reliability for vehicles three years ago. Look at the dealer's for those cars coming off their leases. They will have 36,000 miles or less, they should have had their maintenance kept up (since most dealerships include that with the lease), and you've got a car with 3 years track record for reliability. So please keep leasing vehicles because you'll be providing me with my next car.

 

[Boppa-Wasch]

Just don't park it in the same place the other was in when it got stolen. Maybe they don't steal trucks????

 

[oneaday]

I buy one yr old low mileage cars and lease them to my company. When they get 58/59 K on them I sell em and do it all over again.

 

[tripp]

A neat leasing trick is for a person with a business to do a lease with a high mileage option. In other words set it up with 30,000 or 40,000 miles per year or even more. This creates a very low residual but a very high payment, albeit a tax deductible payment. At the end of the lease the vehicle is going to be worth much more than the residual. The individual buys the car for the residual and then sells it for the actual value pocketing several thousand dollars of "tax free" income.

:jitb: :jitb: :jitb: :jitb: :jitb:

 

[cvm4]

Nice trick there JT

 

[caudio51]

Just finalized the lease on the new car today.

Old one goes back Tuesday and the new one comes home.

What did you get?

A neat leasing trick is for a person with a business to do a lease with a high mileage option. In other words set it up with 30,000 or 40,000 miles per year or even more. This creates a very low residual but a very high payment, albeit a tax deductible payment. At the end of the lease the vehicle is going to be worth much more than the residual. The individual buys the car for the residual and then sells it for the actual value pocketing several thousand dollars of "tax free" income.

:jitb: :jitb: :jitb: :jitb: :jitb:

Very nice tax trick