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I currently fully own 3 cars. But I can't say I wouldn't lease the next one. Just a question of how the numbers work out. There is also the enjoyment of always driving a new car. But being a finance genius I will probably get a Honda Accord with 50,000 miles on it. Buy it for $15K sell it five years later for $10k.
Yes it will.
Yuk. Wouldn't be caught dead in a Honda. Gotta have something a little more flashy. Whatever works for you though.
Guinness makes you drop mud.
Dolce and Gabbana "the one" is my #1. I fill several batches per day.
I like to play Eruption backwards on my vintage Strat (paid for, of course)...blinfolded...while reciting the Greek alphabet...backwards.
This post was edited by Heat Miser 18 months ago
After buying a new car a few years ago, I decided to lease one. Cars are a money pit no matter what, the absolute best you can do is to pick up a reliable used one and pray it doesn't have any major mechanical problems.
Leasing is also a bit easier if you're doing some business expense tax write offs.
Damn I didn't realize the thread change. I commute to work in one of my 14 helicopters, and have sky parties with sky supermodels.
Try to keep up.
When I'm bored, I get in my time machine and go get trashed and jam with my Grandpa and Jerry Lee Lewis at the Palomino Club.
Hopefully your company has catch up matching...
One Night! One team! Kill blue! Bleed Green!
2000+ posts and you haven't figured out that 90% of the posters on the board are ballers?
They pay 27 year olds an imaginary $200k. Why the fuck wouldn't they? Jeez, man
you are getting ripped off. And 6 years? Jesus.
"People don't care how much you know until they know how much you care." - Mark Dantonio.
The only problem is that then you're stuck with a shitty Honda.
What a terrible example he is writing about. Who is going to lease a car for $400 a month and 60 months? $24,000 on a lease? That's ridiculous. Of course its a bad deal for this situation. Obviously depends on the car but this example is just too extreme. I am looking at leases now and you can get a Cruze for under 200/month with taxes, doc, everything and no down payment for 2 years. That way the car is always under warranty and sometimes you can even talk them into doing all the needed maintenance for free (oil changes, tire rotations). You are a moran if you are basing all your replies in this thread on this one dave ramsey Q & A.
Are you getting an employer match on your 401(k) contributions? If so, you're probably leaving money on the table by hitting the max in April. Most employers stop their contributions once yours stop, so you're missing out on 8+ months of free money into your retirement plan.
That's what I said above. If they don't have a catch up clause, and most don't, this strategy is unsound.
One thing I'll disagree with most on is the length of loan on a purchase of a new/used vehicle. If you can get the same rate (my credit union will do 2% right now for any length of loan) there is no reason not to extend the loan as long as possible. Just have the discipline to pay extra each month but keep the flexibility of the lowest payment possible should you ever have a rainy day.
I own three cars, one for me, one for my wife, one in my garage that is sentimental to me. However, my daughter turns 16 in one month. We live 2 miles from her high school, we live 3 miles from her dance that she does 6 days a week. It keeps her busy till about 9:30 or 10:00 each night. I'm really thinking of leasing a liberty for 160 bucks a month for her. 10 thousand mile lease because she won't be driving it anywhere. I don't like leasing either. However, new driver, new car with better safety features in it then a used one. Basic stuff, just a solid transport from here to there. She'll be a freshman at MSU when it expires, so her little sister will use it one year. I'm really torn what to do. I hate the idea of a lease, but I think it's the way to go here. I really think like you say, buy a used one and it could be a money pit.
YOUR have been banned from reading and posting on the Michigan Wolverine board.
this thread is relevant to my interests. I've got 4 months left on a lease (I didn't want a lease but my car literally died and I was dead broke at the time and couldn't afford to buy). I like the car a lot and want to buy. My residual value is about $1,000 less than the car is being listed on kbb.com so that seems about right as I have 4 months left.
Any thoughts as to how much I should undercut the residual value in an offer? I know they don't want the car back, go through auction, etc. I'd like to use that to my advantage in negotiations.
Who are you negotiating with? The dealership you turn the vehicle into doesn't own the vehicle.
You must be a pretty small dude. How do you fit those big girls into such a small truck?
The leasing company which owns the car.
Agreed. Unless you have a 24 month loan, PLEASE don't pay 600/month for a minivan.
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