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Thread: Auto Lease Reply to Thread
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  Topic Review (Newest First)
02-03-2005 11:10 PM
showmethebombs
Re: Auto Lease

Quote:
Originally Posted by cbr99xx
But... But... Did you watch the vid??? 'cause it's really cool!!!!

jeeze...how in the fbomb did he get that gun? Figment?
02-03-2005 10:45 PM
sheepofblue
Re: Auto Lease

Quote:
Originally Posted by Diesel954
Ok to keep this thread from continuing I will get the exact #s and pm them to you. I dont want you to lose sleep on this.
No worry I was just using your numbers as an example to demonstrate to others how to calculate an effective equivalency between a lease and loan That was kind of the flavor of this thread, whether to do a lease or not. People were voicing opinions (myself included) but your comment allowed a demo using numbers.
02-03-2005 10:44 PM
cbr99xx
Re: Auto Lease

Quote:
Originally Posted by cbr99xx
Hopefully not as many as Jesse put in this RX7 (albeit 30 cal holes).

http://www.cybertoolzz.com/videos/je...niguns_rx7.wmv

But... But... Did you watch the vid??? 'cause it's really cool!!!!
02-03-2005 10:41 PM
Diesel954
Re: Auto Lease

Quote:
Originally Posted by sheepofblue
OK again with numbers
The original price was 28000 - 5000 = 23000 but to own the car at the end you need 12000 more so this is close to equivalent to a 11000 loan. So a 11000 loan for 48 months at 13.75% gets you a payment of 299.21.
Ok to keep this thread from continuing I will get the exact #s and pm them to you. I dont want you to lose sleep on this.
02-03-2005 10:38 PM
sheepofblue
Re: Auto Lease

Quote:
Originally Posted by Diesel954
No our buyout will be around $12k with a retail value of around $17-18k. She did put around $5k down on the initial purchase of 28 and change. Its on a 4 year lease and I dont know what her % rate is. She bought the car before we met. Her father sold cars at one time so he might know tricks of the trade.
OK again with numbers
The original price was 28000 - 5000 = 23000 but to own the car at the end you need 12000 more so this is close to equivalent to a 11000 loan. So a 11000 loan for 48 months at 13.75% gets you a payment of 299.21.
02-03-2005 10:33 PM
Diesel954
Re: Auto Lease

No our buyout will be around $12k with a retail value of around $17-18k. She did put around $5k down on the initial purchase of 28 and change. Its on a 4 year lease and I dont know what her % rate is. She bought the car before we met. Her father sold cars at one time so he might know tricks of the trade.
02-03-2005 10:23 PM
sheepofblue
Re: Auto Lease

Quote:
Originally Posted by Diesel954
4 years at 15k miles a year. Just checked KBB and the trade on it in exc condition is around $14k. Retail is about $18k so we'll have around seven grand equity when we buy it. Hopefully that is.
OK here is how I would evaluate this sample lease:
with assumptions,
30000car-12000buyout= 18000 loan now at 0% interest and 48 payments a loan is $375 so something is missing or this is an awesome deal

So change my assumptions
30000car-12000buyout+3000down = 15000 loan at 0% and 48 months this is a 312.50 payment. so something is missing or this is an awesome deal

Etc.
Here is an example of bad,
30000car-12000buyout+3000down = 15000 loan for 60 months now a payment of 297.01 is 7% interest.

There are other factors such as risk but you get the idea. You can calculate the loan equivalent for most leases if you have the contract.
02-03-2005 10:05 PM
cbr99xx
Re: Auto Lease

Quote:
Originally Posted by showmethebombs
how many 9mm holes are we talking here?
Hopefully not as many as Jesse put in this RX7 (albeit 30 cal holes).

http://www.cybertoolzz.com/videos/je...niguns_rx7.wmv
02-03-2005 10:01 PM
showmethebombs
Re: Auto Lease

Quote:
Originally Posted by abtech
Hey, if you have cash and don't mind a few 9mm holes in the drivers door, I can hook you up!
how many 9mm holes are we talking here?
02-03-2005 9:58 PM
showmethebombs
Re: Auto Lease

Quote:
Originally Posted by Diesel954
4 years at 15k miles a year. Just checked KBB and the trade on it in exc condition is around $14k. Retail is about $18k so we'll have around seven grand equity when we buy it. Hopefully that is.

you must have dropped some cash as a DP or trade right? that is a low lease.
02-03-2005 9:42 PM
Diesel954
Re: Auto Lease

Quote:
Originally Posted by sheepofblue
How long is the lease?
4 years at 15k miles a year. Just checked KBB and the trade on it in exc condition is around $14k. Retail is about $18k so we'll have around seven grand equity when we buy it. Hopefully that is.
02-03-2005 9:22 PM
sheepofblue
Re: Auto Lease

Quote:
Originally Posted by Diesel954
We are leasing the wife's Acura and plan to purchase it when the lease expires in about a year. She gets a $30,000 car for monthly payments of $295 and the option of buying it. It only has 35000 miles on it right now. She is allowed 60000 miles. At the current rate the car will have around 41000 miles and the end of the lease. The buyout price will be around $12,000. I havent checked KBB but I think thats about 4 grand less than the trade value.
All that to say I think the lease is actually a good deal for someone who doesnt drive much and takes really good care of their car.
How long is the lease?
02-03-2005 8:21 PM
Diesel954
Re: Auto Lease

We are leasing the wife's Acura and plan to purchase it when the lease expires in about a year. She gets a $30,000 car for monthly payments of $295 and the option of buying it. It only has 35000 miles on it right now. She is allowed 60000 miles. At the current rate the car will have around 41000 miles and the end of the lease. The buyout price will be around $12,000. I havent checked KBB but I think thats about 4 grand less than the trade value.
All that to say I think the lease is actually a good deal for someone who doesnt drive much and takes really good care of their car.
02-03-2005 7:10 PM
abtech
Re: Auto Lease

Hey, if you have cash and don't mind a few 9mm holes in the drivers door, I can hook you up!
02-03-2005 6:44 PM
showmethebombs
Re: Auto Lease

you guys crack me up. I am currently looking at H2's.
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