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Am I getting raped on this lease???
- Thread starter NJjuice22
- Start date
mrdeeznuts
New member
better off financing over leasing.
mrdeeznuts
New member
NJjuice22 said:
http://www.leaseguide.com/lease03.htm
seems like leasing is better for you, i've never had much luck with leasing
mrdeeznuts
New member
NJjuice22 said:
i don't know if i had a bad experience with leasing or what. but i did go over the mileage every year which sucked and when i took it back they were being dicks about shopping cart dents and scratch that just couldn't be avoided.
a lot of vehicles now have great warranties though up to 100,000 pending on the vehicle.
covergrl80
New member
12k a year is not a lot.
mrdeeznuts
New member
Lestat said:
the recent vehicle i purchased bought in beginning of august. took it on 3 road trips and only has 4,000 miles on it. i don't think i'll get the full warranty out of it, it will run out of time before miles
covergrl80
New member
Yeah and when the 3 years are up.....another down payment out the window and another down payment on another car.Lestat said:
B
BrothaBill
Guest
just pay cash, thats how I bought my Bugatti
NJjuice22
New member
I work 1 mile from my house.
my current car has 31k miles on it , I had it for 35 months. So I average less than 900 miles a month on my car and that includes a road trip to florida I took last year.
like I said. leasing is just perfect me. i dont want to own . I get sick of things fast.
my current car has 31k miles on it , I had it for 35 months. So I average less than 900 miles a month on my car and that includes a road trip to florida I took last year.
like I said. leasing is just perfect me. i dont want to own . I get sick of things fast.
foreigngirl
New member
Erzulie said:
I do too. But I had someone with a magic touch to fix that problem on my Jetta before I returned it.
SilverDragon
New member
NJjuice22 said:
here's something useful that i found about 1 month after id bought my car... its good for anyone who's thinking of buying a new car.
http://www.edmunds.com/advice/buying/articles/42962/article.html
covergrl80
New member
Then I guess 12k would work just fine for you.NJjuice22 said:
on the other hand I can not understand why some people would spend that much on a car
I could never do it.
mrdeeznuts
New member
SilverDragon said:
best bet is to buy a car that has 8-15k already on it. then you can finance and it has about 8-10g lower sticker value
J
jenscats5
Guest
Did they tell you what the money factor was?? What's the residual??
Lease payments in NJ are pretty easy to figure out......
Lease payments in NJ are pretty easy to figure out......
foreigngirl
New member
its a guy thing..bla, bla, bla......I am a girl and these are the cars/trucks that I like to have (and one of them I will) - Audi A8, Dogde Charger, Mustang, the new Lincoln Navigator-lookin-pick up. I just have to limit myself to the Ford and Ford owned cars, unfortunatlyNJjuice22 said:
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alien amp pharm
Guest
I develop a foundness with my vehicles and drive them until they fall apart. I could never lease.
Let's see, last car I had I bought new in 1997 for $19,000. Sold it in 2006 for $5,000 with 130,000 miles on it. That was defintely a good investment.
Let's see, last car I had I bought new in 1997 for $19,000. Sold it in 2006 for $5,000 with 130,000 miles on it. That was defintely a good investment.
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BrothaBill
Guest
alien amp pharm said:
I figured with you being in the Russian mob you'd just have them get you one cheap
A
alien amp pharm
Guest
BrothaBill said:
You are pretty funny for an Eskimo.
DannoMight
New member
If you are positive you won't go over the miles leasing is ok. Besides most people will always have a car payment so why not upgrade and drive what you want every few years. I just buy and put a nice down payment and pay extra so that when I buy something else I can trade in or sell and get more off the next vehicle.
NJjuice22 said:
no its really not that bad at all. I wish I could have found a good deal locally on the BMW, being strapped for time and having to get into a car quickly I couldn't shop around. Maybe late this year Ill trade this one in or sell it. I am hard on cars, so I believe a lease would also be my best bet.
J
jenscats5
Guest
NJjuice22 said:
Crap!! Can't remember how to calculate the lease worksheet....but the residual is pretty standard & the money factor is a GREAT one.....
I have no clue why anyone would spend $500 a month on something they will never own.
J
jenscats5
Guest
superqt4u2nv said:
Because, over time, the cost of the monthly lease payments as compared to the cost of financing a car could result in one spending LESS money on the lease than on the finance......
Also, with a lease - the lessee never has to deal with being upside-down in their loan due to depreciation - this means the car is worth less in book value than what you actually owe on the car.....
Not when your spending $500 a month on a fucking car payment? Give me a break. Plus insruance? and all the other shit that goes with owning a car. Buy something that is reliable with in your means if you really must have a car don't waist you money on a lease of some SUV or yuppy ride like a beamer.jenscats5 said:
I bet NJ could get a buy a civic with half the car payments own it out right in 4 years and the dam thing would run for at least 10 if takin car or properly. I just don't see the value in leasing so you can keep up with jones every 3 years?
J
jenscats5
Guest
superqt4u2nv said:Not when your spending $500 a month on a fucking car payment? Give me a break. Plus insruance? and all the other shit that goes with owning a car. Buy something that is reliable with in your means if you really must have a car don't waist you money on a lease of some SUV or yuppy ride like a beamer.
I bet NJ could get a buy a civic with half the car payments own it out right in 4 years and the dam thing would run for at least 10 if takin car or properly. I just don't see the value in leasing so you can keep up with jones every 3 years?
QT - I worked for a leasing/finance company for 12 years - YES the cost of the lease payments for a particular lease as compared to financing often DOES cost less.......Many business people also lease cars as they can deduct a lease payment while a finance payment cannot be deducted.....
If you choose not to believe me, well then, that's up to you.....
Leasing a vehicle has nothing (all the time) to do with keeping up with the Joneses.....
And it's "waste".....
foreigngirl
New member
I can testify this to be true, cause we deducted the lease and cant deduct the finance/purchasejenscats5 said:QT - I worked for a leasing/finance company for 12 years - YES the cost of the lease payments for a particular lease as compared to financing often DOES cost less.......Many business people also lease cars as they can deduct a lease payment while a finance payment cannot be deducted.....
If you choose not to believe me, well then, that's up to you.....
Leasing a vehicle has nothing (all the time) to do with keeping up with the Joneses.....
And it's "waste".....
Does NJ have his own business? Is he righting it off? Yes leases have there place for some but for the most part I see it as a way for people to live beyond there menas.jenscats5 said:QT - I worked for a leasing/finance company for 12 years - YES the cost of the lease payments for a particular lease as compared to financing often DOES cost less.......Many business people also lease cars as they can deduct a lease payment while a finance payment cannot be deducted.....
If you choose not to believe me, well then, that's up to you.....
Leasing a vehicle has nothing (all the time) to do with keeping up with the Joneses.....
And it's "waste".....
superqt4u2nv said:Not when your spending $500 a month on a fucking car payment? Give me a break. Plus insruance? and all the other shit that goes with owning a car. Buy something that is reliable with in your means if you really must have a car don't waist you money on a lease of some SUV or yuppy ride like a beamer.
I bet NJ could get a buy a civic with half the car payments own it out right in 4 years and the dam thing would run for at least 10 if takin car or properly. I just don't see the value in leasing so you can keep up with jones every 3 years?
I think it's all relative to the person, their pockets and their personal priorities.
If you never own a car for more than 3 years and you have your own business why pay double for a car that you don't intend to keep anyway?
A $25,000 car is like $500 a month to purchase.
A $40,000 car is like $475 a month to lease for 3 years and all the car services are included.
(NY leases have changed a lot and while they may be called a lease they do have a balloon purchase - but that's another story)
I leased my Yuppie car and ended up buying it - not the greatest move financially but I did get a great rate and I did pay 4k under "list price" so all in all I didn't do too badly. If I didn't love my car so much and could find another car to get all hot and bothered over and not be
totally out of my price range I'd lease again - even with a balloon payment.
J
jenscats5
Guest
superqt4u2nv said:
Since he didn't post that information in this thread, I can't begin to speculate on that.......
Sounds to me you've made up your mind, regardless of the information or education you're given on this topic..... stick with what you're comfortable with then.....
J
jenscats5
Guest
velvett said:I think it's all relative to the person, their pockets and their personal priorities.
If you never own a car for more than 3 years and you have your own business why pay double for a car that you don't intend to keep anyway?
A $25,000 car is like $500 a month to purchase.
A $40,000 car is like $475 a month to lease for 3 years and all the car services are included.
(NY leases have changed a lot and while they may be called a lease they do have a balloon purchase - but that's another story)
I leased my Yuppie car and ended up buying it - not the greatest move financially but I did get a great rate and I did pay 4k under "list price" so all in all I didn't do too badly. If I didn't love my car so much and could find another car to get all hot and bothered over and not be
Several leasing companies have also chosen to no longer execute leases in NY state due to the state making laws that make the leasing company liable in an accident as opposed to the driver of the car.....
Only time I ever leased a car, it seemed like a reasonable deal; I lived close to mass transit. Then my company asked me to start commuting... to Connecticut.
From New Jersey.
Oops.
They gave me a nice bonus to pay back the excess mileage, but it did teach me something about the virtues of ownership. Could have used the bonus to buy a beater to rack up those miles, 'cept it came after the fact.
From New Jersey.
Oops.
They gave me a nice bonus to pay back the excess mileage, but it did teach me something about the virtues of ownership. Could have used the bonus to buy a beater to rack up those miles, 'cept it came after the fact.
i think it depends on your priorities. For me, I had a large sum of money to put down but didn't want another big bill or money sitting in my back that would be wasted on something else, so i bought my car in full instead of leasing.
if style is important for you and you think leasing is the way to go for a luxury car.... go for it.
if style is important for you and you think leasing is the way to go for a luxury car.... go for it.
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The Shadow
Guest
NJjuice22 said:
I'm sure this has been covered, but:
the 480.00 in and of itself isnt bad.
I'm assuming its open ended??
Refundable damage deposit??
Is the lease tax write off for work??
Is the dealer including scheduled servicing(despite what is advertised, some dealers do not)
Totally an individual thing.
superqt4u2nv said:Not when your spending $500 a month on a fucking car payment? Give me a break. Plus insruance? and all the other shit that goes with owning a car. Buy something that is reliable with in your means if you really must have a car don't waist you money on a lease of some SUV or yuppy ride like a beamer.
I bet NJ could get a buy a civic with half the car payments own it out right in 4 years and the dam thing would run for at least 10 if takin car or properly. I just don't see the value in leasing so you can keep up with jones every 3 years?
whatever someone priorities are
NJjuice22
New member
1.the juice doesnt like honda civics
2. the juice wanted a BMW, the juice gets what he wants.
3. the juice takes home 5k clean a month between work and my side venture and can afford the car.
yes im talking in the 3 rd, and yes super should get off my thread. you aint helpin with my question fool.
2. the juice wanted a BMW, the juice gets what he wants.
3. the juice takes home 5k clean a month between work and my side venture and can afford the car.
yes im talking in the 3 rd, and yes super should get off my thread. you aint helpin with my question fool.
I can't believe people are questioning whether or not he can afford the payment. Do any of you know what he does for living? What his other expenses are? I admire that he actually responded in Post #53.
Actually, I learned something from this thread. I didn't know leases can be deducted for a business. I have made a mental note of that.
Actually, I learned something from this thread. I didn't know leases can be deducted for a business. I have made a mental note of that.
NJjuice22
New member
HS Lifter said:
lol.. i was trying to piss them off. I am live for the moment type guy. I dont like to plan out my entire life. I take care of my responsibilities , I pay my bills, child support and put money on the side for my daughter's college fund . If I want a nice car IM GONNA BUY A NICE FUCKIN CAR.
oh HS lifter...i saw your reply about it being a 2 door. The new 3 series coupe comes out this fall, since my payment is considered "cheap" for a 330i i can get rid of my car easily on swapalease.com. so if I really like the coupe when it comes out this fall I'll get rid of this one and get the coupe.
Did you know they are making an M3 four door. kinda hot.I always liked 4 doors.
I didn't mean to question if he coud afford. I don't see the value in a car or leasing for MYSELF. (Got that Jennycgirl said:
) It is his money and as he clearly stated he is going to do what he wants with it. The guy I am dating is a business manager for a dealership he tells me about guys getting leases on cars for almost $1000 a month. Me personaly I think that is a bit crazy but eh that is me.
NJjuice22
New member
superqt4u2nv said:I didn't mean to question if he coud afford. I don't see the value in a car or leasing for MYSELF. (Got that Jen
tell me how my thread regarding the numbers of my specific lease in relation to the cost of that specific car have to do with your opinion on getting an expensive car. I Dont give a shit about your personal opinions on justifying money spent. seriously.
HS Lifter
New member
NJjuice22 said:
Yeah living in the moment is cool, as long as you don't get carried away. Don't listen to these fools anyway, EF is the most entertaining part of their day.
You like 4 doors? WTF. If you are single, get a coupe...period.
I might buy the new m3 when it come sout(coupe, no family sedan for me)
HS Lifter
New member
NJjuice22 said:
If you like sedan's...
Audi RS4 is bad ass.
http://www.velocityjournal.com/images/stk/2006/ad2006rs41776588m.jpg
Sassy69
New member
To yet again regurgitate the obvious - leases are becoming a viable option. I personally have a record of keeping my cars for several years, and I have bounced around alot over the last several years w/ jobs & moving so I can't reliably say I put on a certain number of miles per month. For me, a financed purchase (2001 BMW 330i) worked out fine. I was able to save a few bucks on it as I took a demo model that had some miles on it and it was later in the model year when I bought it. The equivalent priced new car would've been the 4 cylinder - once I drove the 6 cylinder, I was sold.
My brother just leased the new H3 hummer - pretty wild for him, but he got a killer discount thru his company. He drives about 10 minutes to work and he said its just "damn cool!"
My brother just leased the new H3 hummer - pretty wild for him, but he got a killer discount thru his company. He drives about 10 minutes to work and he said its just "damn cool!"
Razorguns
Well-known member
there are plenty of sites on the web that go into this in detail.
But to recap. If you:
(1) Own a business that pays taxes
and/or
(2) Don't drive your car much and take good care of it.
I disagree with the u can't be upside thing. If you drive it like you own it, and have scratches/dings/mech. failure -- you'll pay a huge penalty. Plus many leases force you to come to them for over-inflated expensive service every XX miles. You can't take it to Joe's Auto shop.
But to recap. If you:
(1) Own a business that pays taxes
and/or
(2) Don't drive your car much and take good care of it.
I disagree with the u can't be upside thing. If you drive it like you own it, and have scratches/dings/mech. failure -- you'll pay a huge penalty. Plus many leases force you to come to them for over-inflated expensive service every XX miles. You can't take it to Joe's Auto shop.
NJjuice22
New member
tiger88 said:more important questions...u getting SMG or manual ?
HS lifter
new m3
*2 door or 4 door
*v8
*only SMG/2
*no convert
*2 door coupe thinking price will be around 70k and up
I go to this bmw forum all the time and I heard they are makign a cabrio (convertible) versionof the m3. ...I'm getting it with a steptronic transmission, i dont like stick...too much work.
P
powderguy
Guest
If I can't pay cash, I don't buy it. Period. Credit will give you a false sense of security, and leasing is, IMO, the worst possible thing you can do with your money as far as a vehicle goes...
What is the residual value on your lease? It is the price that you can opt to buy the car for at the end of your lease...
What is the residual value on your lease? It is the price that you can opt to buy the car for at the end of your lease...
powderguy said:
you are a moron...why pay cash for something that will only go down in value? why spot out 40k in cash and you can use that for something else (assume u get a good % rate) invest it etc
he said he doesnt plan on getting the lease so he will get a new toy in 3 years... read the fucking post
NJjuice22
New member
Erzulie said:
oh the car is ordered already sista. I post up questions and seek peoples opinions on here just out of a curiosity, doesnt mean I actually listen to any of ya. lol. I put the order in almost 3 weeks ago. I am tracking the production online. pretty cool.
powderguy, i dont want to buy it when the lease is up. I 'll get a new car .
P
powderguy
Guest
Tiger88, think about what you just said. You said why pay cash for something that is going to go down in value?tiger88 said:
A vehicle will lose around 60% of its lot value during the first several years. So, why not buy something that is a couple years old for CASH and let someone else take the hit?
According to what you are saying. .(If you are capable of doing some simple arithmatic) is that you would rather pay $17,280 for something you have to give back? What sense does that make? Why not pay that ammount in cash for something a little older and then invest the money you would be paying on that lease in a good mutual fund or roth IRA? (In case you don't know about a roth IRA, you don't have to pay taxes on the interest you gain)
Don't feel bad, you are like most other Americans who have no concept of what being 'wealth' means.... You are under the impression that if you have 'good credit' and a 'nice car' that means you are wealthy... What it really means is that you will be in debt your entire life and your childeren will be paying for your own funeral becuase you don't have the money LMAO!~
Now, who is the 'fucking moron'? Furthermore, I will post where ever I feel like putting my two cents in...
P
powderguy
Guest
You are correct. That was your 2 cents? Letting me know that I misspelled a word? Look, I am not trying to start shit with you.... I am simply replying to tiger88'ths reply about me being a moron....NJjuice22 said:
What you do with your money is your business.... I just don't agree with leases at ALL and I just wanted to state that fact.
GoldenDelicious
New member
it comes down to 2 things: 1) cashflow (so long as $ is flowing, leasing is a great thing to do from a couple of points of view and 2) satisfaction from simply "owning" your vehicle. lots of whitegoods stores have advertisments making fun of people who rent furniture etc, saying that it "isnt really theirs", for example.powderguy said:
personally i like the idea of owning, because im one of those super careful people with my stuff, and its always in FAR better condition than everyone elses. besides, i dont buy things that depreciate quickly, and im not running a business atm.
sounds to me like juice is doing exactly the right thing. have fun, bor
P
powderguy
Guest
If you don't care about other peoples opinions, why even post this in the first place? So you can brag about the BM you are about to get? Trying to 'pull some ho's'?NJjuice22 said:
NJjuice22
New member
powderguy said:
you are a fucking moron dude. I dont care about peoples opinions of the idea of leasing a car . whether it a good decision or not to lease in general. I dont care about that.
what i was looking for was opinion on MY SPECIFICS NUMBERS on THIS SPECIFIC lease for people who know about leasing.
ok dipshit..got it? good.
P
powderguy
Guest
LMFAO!NJjuice22 said:
P
powderguy
Guest
What's that? I can read your post! LOL!NJjuice22 said:
T
The Shadow
Guest
nycgirl said:
...and others as well.
You can write either:
1 - Total expense of the car including payment, gas repairs, tires etc
OR
2 - Mileage driven at the new fed rate of, I believe, 48.5 cents per mile.
Also - if the company requires you to maintain additional insurance, the difference may be a deduction as well
pintoca
New member
curling said:
For once I will be honest with you curling
Leasing rates simply depend on:
1. mileage/year
2. Down payment
3. Type of contract (mileage or residual value)
4. lenght of contract in years
1. Careful with this, there is a "sweet spot", which varies with cars and with brands, where a lease is no longer economical: If you drive 60.000 miles/year (just pulled the number of my ass), chances are the lease will be as expensive as buying.
2. Why would you put a downpayment on something you will never own? I never pay anything on my leases, 0, nothing, nada. I prefer to play with the other factors. But that is just me
3. This is where most people get chaffed: Here we have 2 types of contracts: Mileage, which specifiy how many miles/year you will drive. At the end of the contract, you drove more, you pay per mile, you drove less, you get money back. With a "Residual value" type of thing, you agree beforehand, what will be the end-value of the car after you use it... you can estimate it, but you have NO CONTROL over this. This is how salesmen can offer very low monthly rates: They simply overestimate (knowingly) the residual value... what is the catch? at the end of the period you have to pay, cash, the difference between the real value and the estimated value. Beware of a contract of this type that says "residual value of 45-50% after 5 years..." you won't know what hit you.
4. Again, need to find the sweet spot, it varies from brand to brand and from car to car (how hot a car is). Most cars are a good deal, ONLY, starting at 3 years contract... Most people lease from 36 to 60 months...
The decision to lease a car is a complicated one where you cannot sterotype, you need to keep in mind foremost:
1. How long do you keep your cars
2. How well do you treat them
3. How important is the aftermarket factor to you (tuning and stuff)
4. How reliable is the car you are leasing
I keep good care of my cars, and my previous lease I sold to a friend, since he knew how well the car was kept.
All in all, demand transparency from the leasing company, NEVER tell what you can pay/month. Negotiate on the basis that you are BUYING the car, not leasing it.
I think unless the lease payment would be something that i could afford, I would rather just finance it and when the 3 or 5 years is up, the car is paid for, instead of having to buy it AGAIN, or getting another vehicle that your obviously going to have to pay for.
NJjuice22
New member
curling said:
well you should never put 5k down on a lease. Always just pay the inception fees. Lets say your car was stolen or totaled, you will get only the value of the car...your 5k is gone , you'll never see it again. Someone who put 1k down will get the same amount for the car as someone who put 5k down.
pintoca
New member
curling said:
They do lower your payments, but the risk is that. I find you are paying way too much, specially after such a down-payment. That money is gone for good.
Worst case scenario is that after the lease expires, you decide to buy the car for the residual value, that normally, depending on the car, works up to 5-10K more expensive than MSRP
