Quote:
Originally Posted by Kdogg
Ok gotta reply to this one. Unless you are blessed to be able to pay cash for a car as soon as you leave the dealer your car starts depreciating. I always do sign and drive so no money comes out of pocket. I will pay $200 to $300 dollars less than someone buying and can afford a maxed out car not a stripper or mid-range model. I lease end I have option to buy at a discounted rate. Example, my last car a Hyundai genesis sedan snickered for $43,000 dollars,in 3yrs at lease end I can buy for $26,000.when it goes on the lot you will pay between $30,000 and $35,000 for it. For a few extra bucks a month I can get mileage bumped to 15 a year which is plenty for the average driver. Depending on car company you can get your maintenance paid for. BMW does it and when I had my c230 kompressor MB I paid no maintenance . Even if the brand is not premium they will throw in oil changes. Again,while the average car buyer is putting down a hefty down payment and paying for 5yrs, after 3 i'am in the next best thing. Not to mention after 5yrs and your car is paid off and the warranty has expired,you start getting nickeled and dimed to death! When you lease your car is always under warranty! I have beem leasing for 17yrs and have had some very nice fully loaded cars that I wouldn't have been able to buy. Do I own my car no,but neither do buyer. The banks own your car untill it's paid for. My lease is mine till lease end and then I have option to buy at a discounted rate! Does it work for everyone (no) ,but I works for me!
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Yup, you can buy it for 26k, but don't forget, you also just paid 3 years worth of monthly payments. So don't forget to add that cost to that 26k. So at $200 a month for 36 months = $7,200. Add that to your 26k, = over 33k you are paying for the car. Plus the fact, unless you pay cash, you are going to be paying on that loan for another 4 to 5 years. That's 7 to 8 years you are making payments on the same car. Sorry, I just couldn't do that.