Quote:
Originally Posted by crbalch
Quote:
Originally Posted by premier3is
Quote:
Originally Posted by crbalch
Quote:
Originally Posted by Wyndi335I
Are you a person that purchases every 2 to 3 years? If so, leasing is your best option. If you can stomach a little higher payment, put less down and put the rest in a savings or CD or something. I personally dont lease and hold on to my cars for a while. My father was not rich by any means and he would only finance for three years and after, he would continue to put payment in a savings for the next car. Cars were cheaper then but it made sense.
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So I think what I'm going to end up doing is similar. I've got around 22k equity in my current car so I'll basically use that to pay the lease each month. Then I'll take the $600 ish a month that I was going to finance, and put that into an investment that appreciates. |
How do you have 22k positive equity on your car? Have you never driven it? Kind of hard to believe there's 22k positive equity on a car after it's been purchased.
I'm assuming you mean you'll get 22k for it.... |
I'm getting 27k for it and I have 5k left on the financing. Not difficult math |
I look at on either positive or negative equity terminology... so yea it's not difficult math but how you phrased it...
Just take what you paid for it - 22k. You'll see what your cost of ownership was for those 3 years. Simple. Compare it with the new car calculating your lease payments. If you flip cars often your best bet is leasing since you should notice the savings. Obviously there's more to it than this but this is a quick way to see it.
If money isn't the issue, then do whatever you like.
: there's tons of information out there if leasing or purchasing is better just like the post above mentioned