What are your payments a month?
Thread Starter
Registered User
Joined: May 2008
Posts: 370
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From: Northern NJ
It's nice not to have car payments, but for me it was a simple decision to use financing instead of paying in full. Unless you are trying to keep your total debt down, why not put that money in the bank and draw an extra 2-3% per month, plus it's there in the bank should you need it for some emergency.
Could make more just racking in the the interested earned in a savings account.
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Joined: Aug 2008
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Leased
nav/premium/Sports/technology/Illuminated kick plates?
39 months
40K out the door - 29K residual.
10k miles per year
$536 monthly(tax included) biught in March
0 fees 0 out of pocket - paid for first month payment
nav/premium/Sports/technology/Illuminated kick plates?
39 months
40K out the door - 29K residual.
10k miles per year
$536 monthly(tax included) biught in March
0 fees 0 out of pocket - paid for first month payment
Registered User
Joined: Aug 2007
Posts: 272
Likes: 1
From: Miami, FL
I wonder the same... I leased the same vehicle more or less (I have spoiler instead of illuminated kickplates), and I'm paying 650/month including taxes. Granted I got the vehicle when it first came out, but it still sounds like a pretty good deal I suppose...
ohh, I have 15k miles per year...
ohh, I have 15k miles per year...
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Lease Deal
Santa Monica , CA - through IFS
marsb007 - extra 100 per month = $3900 for 39 months = 15K extra miles @ .20 per mile + tax? over so its the same deal; your just paying the mileage up front- I just saw a 0 interest for 72 months sign at the Thousand Oaks Dealer (not sure which cars it applies to).
marsb007 - extra 100 per month = $3900 for 39 months = 15K extra miles @ .20 per mile + tax? over so its the same deal; your just paying the mileage up front- I just saw a 0 interest for 72 months sign at the Thousand Oaks Dealer (not sure which cars it applies to).
Last edited by albuki; Aug 8, 2008 at 01:01 PM. Reason: updated
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^^^ dude, you're paying $590 a month on a LEASE after putting 7k down and only 12k miles per year? are you in canada?
if you're in the states, i'm no expert at this but i'd say you were overpaying. what's the MSRP on the car you got? i was going to put $5k down total on a car and they came back with 15k miles a year, 39 months and $364/month...but changed my tune to $2500 due at signing, $437 a month on 15k miles and 39 months...
if you're in the states, i'm no expert at this but i'd say you were overpaying. what's the MSRP on the car you got? i was going to put $5k down total on a car and they came back with 15k miles a year, 39 months and $364/month...but changed my tune to $2500 due at signing, $437 a month on 15k miles and 39 months...
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Joined: Jan 2008
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My deal:
12k miles a year
24 month lease
$2850 OTD
$469/month
g37s (6MT, Premium, Sport, spoiler)
*This includes $300 negative equity from trade-in which I rolled into payments.
12k miles a year
24 month lease
$2850 OTD
$469/month
g37s (6MT, Premium, Sport, spoiler)
*This includes $300 negative equity from trade-in which I rolled into payments.
Last edited by hotshothenry; Aug 29, 2008 at 06:07 PM.
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Purchased Fully Loaded (Navi, Tech, Spoiler, Moonroof, sport package etc) Platium Graphite G37 except 4WS 5AT (I know, should have bought a stick and Athens blue 6MT - My First choice)
10k down
11k for 2002 celica trade in
$415 per month @ 60 months 3.9APR.
43k OTD $500 below invoice.
10k down
11k for 2002 celica trade in
$415 per month @ 60 months 3.9APR.
43k OTD $500 below invoice.
Last edited by PlatGraphiteG37; Aug 29, 2008 at 01:13 AM.
I got a G37S 6MT everything 'cept tech and 4 wheel thing. Also added lojack and the tire/wheel protection package
$43K OTD
about $15K down
Financed @ 2.9% for 60 months
$500 a month
$43K OTD
about $15K down
Financed @ 2.9% for 60 months
$500 a month
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The mileage is what really did it for me. I have an 80 mile round trip commute to my job and home. That comes out to under 20k a year and that doesnt include driving on the weekends. I think most people that lease either:
1) Don't have a lot of money to put down on a car as a down payment
2) Want to get out of the car in a few years to get something newer down the road
3) Want lower monthly payments and in turn not own the car outright.
1) Don't have a lot of money to put down on a car as a down payment
2) Want to get out of the car in a few years to get something newer down the road
3) Want lower monthly payments and in turn not own the car outright.
I love #3 and how people who finance think they OWN their car, versus "just renting" with a lease. Unless you have paid your final finance payment or drop the full 38K initially, you don't OWN squat. If you doubt that, stop making payments to your financial institution and see who REALLY owns your car.
I gave up the frills. I got a Base G37, had VPP, but (I think) negotiated lower from there: 2000 DOD, 350/ mth, 12K per year. Even if I blow over the mileage, I still have options that make financing still a bad decision financially speaking. In two years if I have 37K miles on it, I can arrainge a buyer to pay the residual amount, or close enough where my amount to settle up with the original lease wouldn't come close to pouring our 5K initially and 600/ mth instead of the 2K and 350/ mnth I've been paying.
After two years at my numbers, the total cost is 10,400 while the finance example is 19,400. That means my "high mileage" leased vehicle would have to sell for 9,001.00 LESS to make financing a better deal even with high miles. If you need to put 10K in mods on your car, why don't you just buy 10K more car?? Heck you'd be able to pick up a V-8 M3 for under 60K and if a V-8 screaming at 8K RPM's isn't fast enough for you, well, you should be in military flight school...
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Or 4) Don't believe it's financially smart to throw tens of thousands of dollars upfront on a rapidly depreciating asset.
I love #3 and how people who finance think they OWN their car, versus "just renting" with a lease. Unless you have paid your final finance payment or drop the full 38K initially, you don't OWN squat. If you doubt that, stop making payments to your financial institution and see who REALLY owns your car.
I gave up the frills. I got a Base G37, had VPP, but (I think) negotiated lower from there: 2000 DOD, 350/ mth, 12K per year. Even if I blow over the mileage, I still have options that make financing still a bad decision financially speaking. In two years if I have 37K miles on it, I can arrainge a buyer to pay the residual amount, or close enough where my amount to settle up with the original lease wouldn't come close to pouring our 5K initially and 600/ mth instead of the 2K and 350/ mnth I've been paying.
After two years at my numbers, the total cost is 10,400 while the finance example is 19,400. That means my "high mileage" leased vehicle would have to sell for 9,001.00 LESS to make financing a better deal even with high miles. If you need to put 10K in mods on your car, why don't you just buy 10K more car?? Heck you'd be able to pick up a V-8 M3 for under 60K and if a V-8 screaming at 8K RPM's isn't fast enough for you, well, you should be in military flight school...
I love #3 and how people who finance think they OWN their car, versus "just renting" with a lease. Unless you have paid your final finance payment or drop the full 38K initially, you don't OWN squat. If you doubt that, stop making payments to your financial institution and see who REALLY owns your car.
I gave up the frills. I got a Base G37, had VPP, but (I think) negotiated lower from there: 2000 DOD, 350/ mth, 12K per year. Even if I blow over the mileage, I still have options that make financing still a bad decision financially speaking. In two years if I have 37K miles on it, I can arrainge a buyer to pay the residual amount, or close enough where my amount to settle up with the original lease wouldn't come close to pouring our 5K initially and 600/ mth instead of the 2K and 350/ mnth I've been paying.
After two years at my numbers, the total cost is 10,400 while the finance example is 19,400. That means my "high mileage" leased vehicle would have to sell for 9,001.00 LESS to make financing a better deal even with high miles. If you need to put 10K in mods on your car, why don't you just buy 10K more car?? Heck you'd be able to pick up a V-8 M3 for under 60K and if a V-8 screaming at 8K RPM's isn't fast enough for you, well, you should be in military flight school...
DOMO