edit: I mean leasing a Z without the intent to buy it back. Also replaced "knuckleheads" with "guys".


riddle me this ... I'm pretty sure everyone already knows of one on this site(I won't name names) but do any of you guys have friends/acquaintances that are modding their leased Z (or any other car)? If so ... have you been giving them **** every since they've started?

 

they mod with intention to buy at the end of lease i guess.

 

My Z is currently leased and I will buy it at the end of the lease.....it's too late to turn back now. I leased it not knowing if I would want to keep it, but after about 6 months I knew I was going to keep it.

 

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

 

IMO this is bad economic planning ...

The Emotional Leasing Pothole
by Suze Orman

http://biz.yahoo.com/pfg/e16buylease/art011.html

"When you lease a car, essentially you are borrowing it from a leasing company for a fixed period of time. The most common lease period is three years, although four-year leases are popping up now as well. When the lease is over, you can either buy the car outright or turn it back in.

Whether you are planning on buying the car at the end of the lease or not, it is probably going to end up being a bad financial move. The sale price the leasing company will offer you is usually not a good deal. This price, known as the "residual value," can be inflated because of some financial sleight of hand the leasing company pulled off, under the guise of getting your monthly payment as low as possible, way back when you signed the lease."

 

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.

 

IMO I made the right decision. If you wanted to make this an economic and/or financial planning thread, you should have titled it appropriately. You will find that a lot of people on here have leased their car for their own reasons.

 

Well I didn't make it one until your fellow poster thought he was smart by stating: "It's called residual lease".

 

"Why can't we all just get along?"

 

Yah, $28k for my brand new Z with interest. Not a good deal my a$$.

Furthermore, at the end of the lease the dealer will more then likely negotiate price with you as well. I know this because I did it with my Jeep and got an additional $3k off. Your residual buyout is not set in stone by any means.

Now go insert your foot back into your mouth....fukin moron

 

nothing wrong with modding a leased car. just abuse it while you can and let the next owner deal with teh fallout. it makes owning a car fun, even though you have to give it back.


tommy

 

You made the decision because you wanted the car now instead of waiting several years down the road, which I can understand.

I just don't like it when people try to justify leasing a car with bull **** terms that the stealership told them.

 

Im going to start 12-step programs for:

1) those that mod leased cars
2) those that build their motor w/ TT...only to sell it after a few months because they want to buy a house.

 

so you think the dealership is just going to take it back "as is" ? They'll ream you a new one in charges because you voided the original lease contract.

 

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?

 

thats why most guys will inturn sell all the parts, because they actually know what they are doing with parts and have been around cars for years and years, not months.
did the same thing with my STi. had a few parts on it, they frowned, i saqid give me a day came back and they were pleased.

tommy

 

LMFAO

Thank god I bought my car and didn't lease.

 

What I would like to know is how he leased it for $288/month? Was this a base Z? Well, I guess it had to be.

 

That's not with interest. It's without. $30,000+ with interest.

Original MSRP for 2003 350Z

2dr Coupe Base $26,370
2dr Coupe Enthusiast $28,350
2dr Coupe Performance $30,530
2dr Coupe Touring $31,690
2dr Coupe Track $34,180

let's see the original MSRP for an 2003 Enthusiast is $28,350 .... yep you definitely got a grrrrrrrrrreat deal.


btw: I think you have "selective" reading problem.

also ... "Yah"? are you dutch as well? most people spell it "Yeah" ...
Je weet het niet wat jij zegt.

 

He could be leasing and automatic with TT and then selling it for a house.