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Leasing questions

4502 Views 8 Replies 3 Participants Last post by  john
We have never leased before but are thinking about it for the Q3 because a new model could be coming in the next 2-3 years.

Some questions if the community please care to provide feedback:

1) Can we trade in a car as part of the down payment/capital reduction to lower the monthly pmts?

2) If yes, does it make sense to trade in a car that we have a sizeable residual equity in for basically a little/no monthly payment?

  • if #2 is yes only if we have the discipline to actually sock away the monthly in savings - that would be our thought process.
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Another simple thing to think about when leasing : somebody is making money on your lease - AND it's NOT you! Lease's make sense for a business deduction when/if possible, but otherwise just COST the buyer more in the long run. They may look attractive cuz of payments to value, but still in the end, that's a COST to the buyer - always go back to my first statement - ALWAYS true...any other paradigm has not followed the money.
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Leasing lets me get into new cars frequently which is a cost I accept! Cars are an emotional purchase for me so I plan to spend money on cars and expect I will always have some kind of car payment as a result. However I budget for this and don't spend money on things like golf/tennis/Vegas weekends/etc. I chose to spend it on cars. BUT.. I don't use my liquidity to buy down a lease.
I like it : a straight-up aware spender ... I'm similar in emotion, just choose to create a positive NPV for myself -
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