leasing an S2k?
Joined: Dec 2000
Posts: 4,404
Likes: 1
From: Cape Girardeau
Originally posted by cdelena
Sure you do, maybe you need a new calculator, or sold cars that dropped like a rock as they drove off the lot.
Even my wife's '98 Maxima that depreciates quite rapidly compared to a S2000 is slightly positive after three years. It was financed for five years with an attractive promotional rate and after 36 months was worth about $1000 more than the loan balance even though the down payment as small as most initial lease fees.
If you want to laugh, pony up the terms of your lease and we will calculate how a purchase would work.. We will compare total dollars and see who is laughing.
Sure you do, maybe you need a new calculator, or sold cars that dropped like a rock as they drove off the lot.
Even my wife's '98 Maxima that depreciates quite rapidly compared to a S2000 is slightly positive after three years. It was financed for five years with an attractive promotional rate and after 36 months was worth about $1000 more than the loan balance even though the down payment as small as most initial lease fees.
If you want to laugh, pony up the terms of your lease and we will calculate how a purchase would work.. We will compare total dollars and see who is laughing.
Secondly, you may have a slight amount of equity if you are very well at dealing with the car's initial price, and get a good finance deal, but it will be nowhere near the $5 grand I mentioned before.
Thirdly, you're showing your ignorance bad on this one...so you might want to let it go. You don't need my lease terms, just go to Carpoint.com and calculate them both for yourself...the numbers don't lie, besides, it'll give you something to do...since you obviously don't have anything else...haha.
You and I have had this little battle of wits going for a while now, maybe neither of us know when to say uncle, but on this issue of leasing Vs buying an S2000 you will never be able to prove that you would have less of an investment in 3 years in a purchase than you would in a lease...just not possible. The one variable here is the residual, and I'm truly sorry I can't remember mine now, but it would have to be a Ford Tartus...yes I said Tartus...residual to come out differently, so use whatever is available. Besides, we are discussing lease terms now and not when I purchased my S2000.
Andrew
Joined: Dec 2000
Posts: 4,404
Likes: 1
From: Cape Girardeau
[QUOTE]Originally posted by norice
[B]S2kguy> You fella's that talk of Equity in a car crack me up. Let me let you in on a little secret...psssst...come'ere... YOU DON'T HAVE ANY EQUITY IN A CAR AFTER 3 YEARS!!!!!!!!!!!!
[B]S2kguy> You fella's that talk of Equity in a car crack me up. Let me let you in on a little secret...psssst...come'ere... YOU DON'T HAVE ANY EQUITY IN A CAR AFTER 3 YEARS!!!!!!!!!!!!
Registered User
Joined: Aug 2001
Posts: 432
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From: beverly
Without getting too technical, and besides, the % int is a major factor here as well as time and residual, buying a vehicle does NOT lock you in to ownership (re:rent with option to buy vs. buy with option to sell (dump as some may refer). To keep it simple, assume all possibilites-1,2,3,4,5(?) year use and release gain or loss under each deal.
I traded a 99civic si for the stook. Bought it with a 9 year old car as trade. Paid 8k on the note and had a net value (trade over note balance) of ~6.2k. Gave car and 4500 for s2k. New note for 23k (for anyone who's counting, Mass has a 5% sales tax BLAHHHHH!!!!).
Max equity in car depends on market but will prolly happen betwen year 2 and 3.
I tend to be conservative (hey, I live in Mass.!), so like to leave a way out. just in case.
My $.02
chaz01
BTW - I could get really anal and look at the cost of the si note for the two remaining years prior to rollover as a factor also, but believe me, I went through all this enough when buying.
I traded a 99civic si for the stook. Bought it with a 9 year old car as trade. Paid 8k on the note and had a net value (trade over note balance) of ~6.2k. Gave car and 4500 for s2k. New note for 23k (for anyone who's counting, Mass has a 5% sales tax BLAHHHHH!!!!).
Max equity in car depends on market but will prolly happen betwen year 2 and 3.
I tend to be conservative (hey, I live in Mass.!), so like to leave a way out. just in case.
My $.02
chaz01
BTW - I could get really anal and look at the cost of the si note for the two remaining years prior to rollover as a factor also, but believe me, I went through all this enough when buying.
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