How many knuckleheads do you know who are modding their LEASED Z?
08-01-2006, 11:39 AM
#21
Originally Posted by MRfire
Same here...it's called residual lease. And with the $5k I put down on my four year lease I will only owe 13k at lease end (which happens to be this Feb.).
PS. My payments have only been $288 for the past three years
PS. My payments have only been $288 for the past three years
$5000 down payment
48 payments @ $288 for an 2003 Enthusiast = $13824
$13,000 to buy back without taking out a loan
new GRRRRRRRand total = $31,824
all for a BRAND NEW 2003 Z!
Originally Posted by MRfire
Yah, $28k for my brand new Z with interest. Not a good deal my a$$.
Originally Posted by MRfire
Now go insert your foot back into your mouth....fukin moron
Last edited by dutchboy350Z; 08-01-2006 at 11:47 AM.
waiting anxiously for MRfire's response........
08-01-2006, 11:52 AM
#24
Originally Posted by dutchboy350Z
Lets see ...
$5000+ down payment
36 payments @ $288 = $10368
plus $13,000 to buy back (assuming you have $13,000 in you saving account).
Total $28,368.
If you don't ... a loan for $13,000 financed for 4 years @ 8% (very conservative, more like 9%) will cost you $317.37 a month and you'll pay $2233.66 in interest over the 4 years of making payments towards your loan.
previous total plus $2233.66 = $30601.66 ... in other words not a good financial move.
$5000+ down payment
36 payments @ $288 = $10368
plus $13,000 to buy back (assuming you have $13,000 in you saving account).
Total $28,368.
If you don't ... a loan for $13,000 financed for 4 years @ 8% (very conservative, more like 9%) will cost you $317.37 a month and you'll pay $2233.66 in interest over the 4 years of making payments towards your loan.
previous total plus $2233.66 = $30601.66 ... in other words not a good financial move.
I guess when it comes down to it, it depends on your needs. If you need a lower monthly payment to get in the car you want, a lease with the intent to buy out isn't a horrible idea, even if it costs you a few bucks down the road. It may not be the most financially prudent thing to do, but the whole premise of modding a car is financially irresponsible, so it's completely irrelavent given the topic of your original post.
08-01-2006, 12:01 PM
#26
Originally Posted by kcobean
Assuming a sale price of $28,000 and putting $5K down, to hold the title in your hand you're going to pay $5,646 in interest at 9% over 60 months, which means the car will really cost you $33,646, not including taxes.
I guess when it comes down to it, it depends on your needs. If you need a lower monthly payment to get in the car you want, a lease with the intent to buy out isn't a horrible idea, even if it costs you a few bucks down the road. It may not be the most financially prudent thing to do, but the whole premise of modding a car is financially irresponsible, so it's completely irrelavent given the topic of your original post.
I guess when it comes down to it, it depends on your needs. If you need a lower monthly payment to get in the car you want, a lease with the intent to buy out isn't a horrible idea, even if it costs you a few bucks down the road. It may not be the most financially prudent thing to do, but the whole premise of modding a car is financially irresponsible, so it's completely irrelavent given the topic of your original post.
As I said before I went off topic when one of the posters starting throwing Dealership terms around trying to think he was the ****.
08-01-2006, 12:02 PM
#27
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Originally Posted by dutchboy350Z
I won't stoop to your 4th grade level.
Um it's not a brand new Z. It was a "brand new" Z when you originally leased it. The $28K total was if you had $13k in your savings account.
Considering you're leasing a car you couldn't originally afford, I seriously doubt you have 13 grand laying around. i.e. you'll have to take out a loan.
So the latter price would be $30,000+.
Also you must have the dealt with the dealership from heaven ... what dealership is going to knock of 3 grand because you asked?
Um it's not a brand new Z. It was a "brand new" Z when you originally leased it. The $28K total was if you had $13k in your savings account.
Considering you're leasing a car you couldn't originally afford, I seriously doubt you have 13 grand laying around. i.e. you'll have to take out a loan.
So the latter price would be $30,000+.
Also you must have the dealt with the dealership from heaven ... what dealership is going to knock of 3 grand because you asked?
First off, I leased it because I have two other cars and a bike and at only $288 a mo., why not? I spend more then that on beer and food in a week. $13k in my savings account? C'mon man...I would hope so, not to mention I am financially savvy when it comes to investments. Something I'm sure you're not acquainted with if you think $13k is a lot of money to have in a savings account. Hypothetically, if I didn't have the cash....I would still be getting a deal. The car is an 03' performance....better check the numbers again with your ninth grade math skills.
Regarding my Jeep (Grand Cherokee 5.9 Limtied)...yes, $3k off. Dealers don't WANT your lease back and will do what it takes to keep it in your garage. It's like starting all over again with the negotiation process. Ignorant people like yourself really crack me up. I'm hoping you're a still a teenager that hasn't experienced the "real" world yet. Everything is negotiable these days my man. Not to mention, there are a bazillion types of financing/lease programs out there. Contrary to what you hear, they are not all bad.
Don't sell yourself short....go to school and keep your eyes open
Last edited by MRfire; 08-01-2006 at 12:06 PM.
08-01-2006, 12:08 PM
#30
Originally Posted by MRfire
better check the numbers again with your ninth grade math skills.
Maybe you should have done your own math because I mistakenly projected those numbers base on a 3 year lease not a 4.
08-01-2006, 12:09 PM
#31
Originally Posted by kcobean
I hear ya....You did group everyone modding a leased car into the "knucklehead" category though. 
08-01-2006, 12:10 PM
#32
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Amen Brohter!
Originally Posted by 97supratt
A lease is basically used for two purposes;
1) Perfect for somebody that cannot afford to buy it
2) Used as a business vehicle.
THE END
1) Perfect for somebody that cannot afford to buy it
2) Used as a business vehicle.
THE END
Executive Lease
Term 1 year
includes free maintence (oil changes,tires, etc.!!)
company also covers insurance
cost $215 a month!!!!!!
I am now gonna go hide before you guys come and beat me up.
08-01-2006, 12:13 PM
#34
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Originally Posted by dutchboy350Z
You used my "ninth grade" math skills and said you got a steal @ $28,000.
Maybe you should have done your own math because I mistakenly projected those numbers base on a 3 year lease not a 4.
Maybe you should have done your own math because I mistakenly projected those numbers base on a 3 year lease not a 4.
08-01-2006, 12:14 PM
#35
Originally Posted by vincentalunni
05 Crossfire convertible 6 speed base
Executive Lease
Term 1 year
includes free maintence (oil changes,tires, etc.!!)
company also covers insurance
cost $215 a month!!!!!!
I am now gonna go hide before you guys come and beat me up.
Executive Lease
Term 1 year
includes free maintence (oil changes,tires, etc.!!)
company also covers insurance
cost $215 a month!!!!!!
I am now gonna go hide before you guys come and beat me up.
08-01-2006, 12:20 PM
#36
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Originally Posted by MRfire
LOL, clueless...love it.
Regarding my Jeep (Grand Cherokee 5.9 Limtied)...yes, $3k off. Dealers don't WANT your lease back and will do what it takes to keep it in your garage. It's like starting all over again with the negotiation process. Ignorant people like yourself really crack me up. I'm hoping you're a still a teenager that hasn't experienced the "real" world yet. Everything is negotiable these days my man. Not to mention, there are a bazillion types of financing/lease programs out there. Contrary to what you hear, they are not all bad.
Don't sell yourself short....go to school and keep your eyes open
Regarding my Jeep (Grand Cherokee 5.9 Limtied)...yes, $3k off. Dealers don't WANT your lease back and will do what it takes to keep it in your garage. It's like starting all over again with the negotiation process. Ignorant people like yourself really crack me up. I'm hoping you're a still a teenager that hasn't experienced the "real" world yet. Everything is negotiable these days my man. Not to mention, there are a bazillion types of financing/lease programs out there. Contrary to what you hear, they are not all bad.
Don't sell yourself short....go to school and keep your eyes open
There's the primary reason they gave you $3K off. It's a Jeep Grand Cherrokee with a 5.9 Liter engine! Bad car (IMO) to have when gas is over $3 a gallon.
08-01-2006, 12:20 PM
#37
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Originally Posted by MRfire
Hmm...seems like a deal to me considering I bought it when they were still selling over invoice. Now why don't you let me critique your deal there genius...no fabricating now..
08-01-2006, 12:22 PM
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Originally Posted by freefallin
There's the primary reason they gave you $3K off. It's a Jeep Grand Cherrokee with a 5.9 Liter engine! Bad car (IMO) to have when gas is over $3 a gallon.
08-01-2006, 12:22 PM
#39
Originally Posted by MRfire
Hmm...seems like a deal to me considering I bought it when they were still selling over invoice. Now why don't you let me critique your deal there genius...no fabricating now..
After tax, tags, and title fees. Total $34,680 (still under KBB).
put $18,000 down. Financed 16,680 @ 9 percent. Made my first two car payments of $6,500 and $1,000.
Car will be paid off in less than a year. With me only paying under $500 interest.
Please critique away oh great one.
edit: If only you could have been civil to begin with ... I wasn't insulting you at all I was merely stating IMO that is wasn't sound financial planning. Why are you posting on this board if you can't take constructive criticism?
Last edited by dutchboy350Z; 08-01-2006 at 12:33 PM.
08-01-2006, 12:22 PM
#40
Originally Posted by dutchboy350Z
Well considering I'm taking my own personal experience ... I bought my used Roadster for $34,650 and put $18,000 down. The other $16,650 I'm financing @ 9% and it will paid off within the next year. Total interest I will pay comes to under $500.
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