How many knuckleheads do you know who are modding their LEASED Z?
#121
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Originally Posted by bangbang001
steve5,
He is not keeping the car! His plan is to SEll it before the end of the lease, if it doesn't he will return it and walk away. He thinks it will still sell @ least for 22k or 23k buy the summer of 2008.
He is not keeping the car! His plan is to SEll it before the end of the lease, if it doesn't he will return it and walk away. He thinks it will still sell @ least for 22k or 23k buy the summer of 2008.
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Originally Posted by i8acobra
You can't sell a leased car because it's not yours. You're just renting it. Selling a leased car you be like trying to sell a house you rent. You need to buy out the lease (pay the remaining payments in a lump sum) and then pay the buyout before you can sell.
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Originally Posted by i8acobra
You can't sell a leased car because it's not yours. You're just renting it. Selling a leased car you be like trying to sell a house you rent. You need to buy out the lease (pay the remaining payments in a lump sum) and then pay the buyout before you can sell.
Not true.
You only have to make all the lease payments, then you can sell the car before the end of the lease. As long as the bank gets the lesase end buy out.
I leased a volvo for my wife, 1 month before the lease was up, I sold it to another couple. I paid the last month lease payment, got the final price to buy it from the leasing company and then sold it to another couple and made about 950.00 off the deal. The couples bank sent the leasing company a check for the lease end buy out price and gave me a check for the difference.
#124
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Originally Posted by bangbang001
Not true.
You only have to make all the lease payments, then you can sell the car before the end of the lease. As long as the bank gets the lesase end buy out.
I leased a volvo for my wife, 1 month before the lease was up, I sold it to another couple. I paid the last month lease payment, got the final price to buy it from the leasing company and then sold it to another couple and made about 950.00 off the deal. The couples bank sent the leasing company a check for the lease end buy out price and gave me a check for the difference.
You only have to make all the lease payments, then you can sell the car before the end of the lease. As long as the bank gets the lesase end buy out.
I leased a volvo for my wife, 1 month before the lease was up, I sold it to another couple. I paid the last month lease payment, got the final price to buy it from the leasing company and then sold it to another couple and made about 950.00 off the deal. The couples bank sent the leasing company a check for the lease end buy out price and gave me a check for the difference.
#125
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Originally Posted by kcobean
That's interesting. Do you suppose the same system would have worked if you had, say 6 months left on the lease?
#126
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Originally Posted by visionboy
if that's the case, the same can be said for selling a car you're financing. the car is not yours till you make all the payments. just cause you purchased a car doesn't mean it's technically yours, unless you paid for all of it up front.
#127
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Some people lease just because they want a new car every 3 years. I did it from 1992 until I got my Z in Oct. of 2002. When I pre-ordered, I looked at the lease rate and residual value and compared it to the interest rate I was able to get. As it turned out, the residual value after 36 months was about $5,000 more than the buyout would have been by buying the car. The payment differential was about $3000 over that time frame (cheaper for the lease), so I decided to buy.
I'm glad I did. I've now decided to keep the car for maybe 6 or 7 years, and for the first time in my life, I modified my car. Now that I have, I don't think I'll ever keep a car stock for the rest of my life. It's so cool having a car that no one else has. As my son said last Saturday, "I've never been in a car that gets more eye-f**ked than yours, Dad" (he's 20 years old). All I have is a Kaminari body kit, Data Systems spoiler, some CF trim, with HRE 445R wheels.
What a great feeling to have a one-off car!
Mike (still too wusss to play with the engine, other than cosmetically)
I'm glad I did. I've now decided to keep the car for maybe 6 or 7 years, and for the first time in my life, I modified my car. Now that I have, I don't think I'll ever keep a car stock for the rest of my life. It's so cool having a car that no one else has. As my son said last Saturday, "I've never been in a car that gets more eye-f**ked than yours, Dad" (he's 20 years old). All I have is a Kaminari body kit, Data Systems spoiler, some CF trim, with HRE 445R wheels.
What a great feeling to have a one-off car!
Mike (still too wusss to play with the engine, other than cosmetically)
#128
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Originally Posted by i8acobra
When you purchase a vehicle your name is on the title as the owner, the bank is on as the leinholder. Yes, the car is technically yours. The bank is not legally recognized as the owner. When you lease, the bank is on the title as the owner until you pay it off.
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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.
As I said before I went off topic when one of the posters starting throwing Dealership terms around trying to think he was the ****.
As I said before I went off topic when one of the posters starting throwing Dealership terms around trying to think he was the ****.
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I dont think it matters wheather you are leasing or buying, the argument should be should you put money into a car that you do not have the title on. Would it not be better to use that money to pay down the car. In my case I leased mine in early 04. Lease the car at 300 over invoice which was unheard of at the time but my company leased 4 cars that day. I leased the Z cause the company was paying for it. WHen you lease the car you can negotiate the same as if you are buying. You just go into the dealer and dont answer any questions. Just say I want that car there what i want to pay. It's all the same to the dealer they either get paid by the leasing company or the bank same difference. Anyway the lease was 410 with tax with nothing down and no fees. I think I left the lot for like 750 bucks including the first payment. Any way my buyout is $16200. The car cost 30,000 even. I am planning on buying the car so eiahter way to me it did not make a difference. But sometimes the lease buyout works out better then financing a car. so will have paid $30960, once the car is bought, well technically I havent made anypayments on it for the last three years but its still that same if you buy or lease you dont have the tittle so it doenst really matter.
One last thing, in my opinion what someone does with there money is there decision lets jsut be thankfull that most us that drive Z's are not worried about where there next meal is coming from!
One last thing, in my opinion what someone does with there money is there decision lets jsut be thankfull that most us that drive Z's are not worried about where there next meal is coming from!
#131
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Originally Posted by streetracer
If you take that $18,000 and invest it in a mutual fund with an 8% interest rate, you will have accumulated a wealth of Final Savings Balance:$ 132,123.17 ( ) over a 25 year period. I don't know how old you are to have 25 years for retirement, but I'll take 132k over some few grands of interests anyday.
#132
Originally Posted by streetracer
If you take that $18,000 and invest it in a mutual fund with an 8% interest rate, you will have accumulated a wealth of Final Savings Balance:$ 132,123.17 ( ) over a 25 year period. I don't know how old you are to have 25 years for retirement, but I'll take 132k over some few grands of interests anyday.
Last edited by dutchboy350Z; 08-04-2006 at 07:41 AM.
#133
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Originally Posted by i8acobra
If he did that, he'd be earning 8% on the $18,000 invested, but paying 9% on the $18,000 borrowed. He'd be losing 1% over the term of the loan. Not very sound financial advice. Better off using the money as a down payment.
#134
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Originally Posted by streetracer
I'm not sure I follow ya. If you think so, be my guest. There is always real estate also to invest in.
If he didn't put down the $18,000 and invested it like you suggest, he'd have to borrow that $18,000 to buy the Z, correct (he'd have to borrow $34,650 instead of $16,650)? Borrowing the $18,000 against the Z would cost him more in interest paid than what he would make in interest if it had been invested for the same amount of time.
#135
Originally Posted by i8acobra
I have many investments.... real estate, stocks, etc...
If he didn't put down the $18,000 and invested it like you suggest, he'd have to borrow that $18,000 to buy the Z, correct (he'd have to borrow $34,650 instead of $16,650)? Borrowing the $18,000 against the Z would cost him more in interest paid than what he would make in interest if it had been invested for the same amount of time.
If he didn't put down the $18,000 and invested it like you suggest, he'd have to borrow that $18,000 to buy the Z, correct (he'd have to borrow $34,650 instead of $16,650)? Borrowing the $18,000 against the Z would cost him more in interest paid than what he would make in interest if it had been invested for the same amount of time.
#136
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Originally Posted by i8acobra
I have many investments.... real estate, stocks, etc...
If he didn't put down the $18,000 and invested it like you suggest, he'd have to borrow that $18,000 to buy the Z, correct (he'd have to borrow $34,650 instead of $16,650)? Borrowing the $18,000 against the Z would cost him more in interest paid than what he would make in interest if it had been invested for the same amount of time.
If he didn't put down the $18,000 and invested it like you suggest, he'd have to borrow that $18,000 to buy the Z, correct (he'd have to borrow $34,650 instead of $16,650)? Borrowing the $18,000 against the Z would cost him more in interest paid than what he would make in interest if it had been invested for the same amount of time.
Last edited by streetracer; 08-04-2006 at 10:15 AM.
#137
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Originally Posted by i8acobra
I have many investments.... real estate, stocks, etc...
If he didn't put down the $18,000 and invested it like you suggest, he'd have to borrow that $18,000 to buy the Z, correct (he'd have to borrow $34,650 instead of $16,650)? Borrowing the $18,000 against the Z would cost him more in interest paid than what he would make in interest if it had been invested for the same amount of time.
If he didn't put down the $18,000 and invested it like you suggest, he'd have to borrow that $18,000 to buy the Z, correct (he'd have to borrow $34,650 instead of $16,650)? Borrowing the $18,000 against the Z would cost him more in interest paid than what he would make in interest if it had been invested for the same amount of time.
$18,000 invested at 8% will become $26,448 after 5 years, making the profit on the investment $8,448.
$18,000 financed on a 9% simple-interest car loan 5 years would be an approximate monthly payment of $374/month. That total is $22,440, or roughly $4,440 in interest over 5 years. By investing the $18K he has in cash and then borrowing the additional 18K needed to buy the car, he'd still have made $4,008 dollars more on his investment than he payed in interest on the loan.....The reason this works is because investment interest is not calculated the same as a simple interest car loan is.
#139
---> slaps self in forehead .... forgot about paying against the principal ... But even if I was paying interest only on the loan (pretty sure they don't exist on cars) investing it would still make a couple hundred more. After 5 years of interest only loan @ 9%: $8,100. Investing would still give me as Kelly calculated: $8,448. So I'd still make $348. I guess my credit rating point is still valid.
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