Car purchase thoughts

[GodFearinGunTotin]

Think with me on this. Nothing party's like a rental which is what your are basically getting when you by a used program car. The previous people are just drivers, not owners. Different mindset. Oil changes......maybe. Tire rotations......Ha. They run them ragged and turn in the keys to pick up another one.

If you put the 1st 20K on it with the intentions of owning you will take care of it.

A lot of truth there. But we just bought a 2012 Malibu earlier this year with less than 20K on the odometer and other than a couple of scratches on the roof, it looked, smelled, and drove like brand new. Yeah, getting a car off of a lease or out of a factory program can be risky but there are good deals out there. Like the one we bought, not all of them on the lots are lease trade-ins. (He said, typing with his thumbs because his fingers are crossed...and just knocked on wood).

 

[weezy]

Leasing isn't always a bad deal, especially if you own your own business and can write it off. Buying new cars is usually when the biggest depreciation takes place though.

 

[JettaKnight]

It is a 2015 Malibu LT2. A 2013 is going for $15,000 to $18,000 with 20K......used.

That is why I think I am missing something. Seems like a no brainer to take the lease, even if I instantly pay the 2 year lease then buy it outright next week. Still seems cheaper........by quite a bit.

Then don't over think it and miss out on the deal.

 

[Hogwylde]

Do the math............. $170 x 23 months is $3910. Add to that the $17,300 that you can buy it for at the end of the lease....and you are at $21,210. $210 MORE than if you purchase it new for $21,000. Plus, depending how many miles you are allowed to drive during the lease, you may have to pay a mileage penalty if you go over and there is normal wear and tear that you will be responsible for at the end of the lease....not to mention the condition of the tires. Anything and everything that they can ding you for, they will. THEN you can purchase for $17,300????

Don't forget the SALES TAX too...........

 

[churchmouse]

A lot of truth there. But we just bought a 2012 Malibu earlier this year with less than 20K on the odometer and other than a couple of scratches on the roof, it looked, smelled, and drove like brand new. Yeah, getting a car off of a lease or out of a factory program can be risky but there are good deals out there. Like the one we bought, not all of them on the lots are lease trade-ins. (He said, typing with his thumbs because his fingers are crossed...and just knocked on wood).

Yes there are some fair deals out there and I do hope you got one.

I bought my last 3 used. Still have 2 of them. Been good to us.

 

[BehindBlueI's]

It is a 2015 Malibu LT2. A 2013 is going for $15,000 to $18,000 with 20K......used.

That is why I think I am missing something. Seems like a no brainer to take the lease, even if I instantly pay the 2 year lease then buy it outright next week. Still seems cheaper........by quite a bit.

Don't pay the lease early. You don't save like paying a loan early. The lease company should also provide gap insurance. You drive it off the lot and get it creamed by a bus, the only thing you are out is your first payment. Let them hold that liability. Pay per the contract.

 

[JettaKnight]

Do the math............. $170 x 23 months is $3910. Add to that the $17,300 that you can buy it for at the end of the lease....and you are at $21,210. $210 MORE than if you purchase it new for $21,000. Plus, depending how many miles you are allowed to drive during the lease, you may have to pay a mileage penalty if you go over and there is normal wear and tear that you will be responsible for at the end of the lease....not to mention the condition of the tires. Anything and everything that they can ding you for, they will. THEN you can purchase for $17,300????

Don't forget the SALES TAX too...........

I may be wrong, but if you take the offer to buy, extra mileage and wear and tear aren't a factor. I had a lease years ago, had a few accidents, etc.; never had to pay extra.

As to $210 MORE. Seriously? You're railing against $210 over two years. Time Value of Money... dude, it's 1%. Time Value of Money.

 

[BehindBlueI's]

Do the math............. $170 x 23 months is $3910. Add to that the $17,300 that you can buy it for at the end of the lease....and you are at $21,210. $210 MORE than if you purchase it new for $21,000. Plus, depending how many miles you are allowed to drive during the lease, you may have to pay a mileage penalty if you go over and there is normal wear and tear that you will be responsible for at the end of the lease....not to mention the condition of the tires. Anything and everything that they can ding you for, they will. THEN you can purchase for $17,300????

Don't forget the SALES TAX too...........

You need to read the op again. Purchase price is 13,400 at end of lease.

Also, if you buy at the end you don't pay mileage or reconditioning.

Sales tax is there regardless, but since total lease price is less, less tax.

 

[seedubs1]

This. I'll make well over 1% on my investing over 2 years.....unless **** hits the fan, but if it gets that bad, guns and ammo are going to be a bigger concern than finances

As to $210 MORE. Seriously? You're railing against $210 over two years. Time Value of Money... dude, it's 1%. Time Value of Money.

 

[slowG]

Its so hard to find a good deal anymore! Good luck with your search Randy!

 

[Dirtebiker]

Best deal is ALWAYS buying used, three or more years old, for CASH, from an individual!
let someone else eat the depreciation.