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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-05-2007, 02:48 AM   #21
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Re: Thoughts on buy or lease new car, Technology changing fast

if you like getting a new car every 3 years or so its usually cheaper to lease it. in fact if you will be buying and trading it in at a a wholesale price to the dealer after 3 years to get a new car it most definately works out cheaper to lease.

keeping it more than 3 years or cant stay within the terms of a lease than buy it.
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-05-2007, 09:49 AM   #22
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Re: Thoughts on buy or lease new car, Technology changing fast

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Originally Posted by mathjak107
if you like getting a new car every 3 years or so its usually cheaper to lease it. in fact if you will be buying and trading it in at a a wholesale price to the dealer after 3 years to get a new car it most definately works out cheaper to lease.

keeping it more than 3 years or cant stay within the terms of a lease than buy it.
Wonder how many LBYM folks get new cars every 3 years??
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-05-2007, 09:49 AM   #23
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Re: Thoughts on buy or lease new car, Technology changing fast

Hey, another thought, if you lease a car, you will have the money you would have spent upfront still drawing interest in some type of acct.
while you still make monthly payments for a 3 yr. period.. just another
thing to consider...3 yrs from now there should be some type
of changes to auto technology for the better...
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-05-2007, 01:48 PM   #24
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Re: Thoughts on buy or lease new car, Technology changing fast

auto industry bud just called to tell me kruse ( http://tinyurl.com/uv7sk ) is in town for the weekend. think i'll hop on my bicycle and check out the inventory.

don't know what a lease would run but pretty sure my swr won't cover it. likely wouldn't make much of a car for cross-country roadtrips anyway, what with no built-in navigation and all...
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-05-2007, 04:57 PM   #25
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Re: Thoughts on buy or lease new car, Technology changing fast

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Originally Posted by FinanceDude
Wonder how many LBYM folks get new cars every 3 years??
Hey FD, did you take look at some of the net worth's on the board for this year. Many of these folks can afford to lease.
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-05-2007, 06:55 PM   #26
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Re: Thoughts on buy or lease new car, Technology changing fast

We have a 2003 Impala that was a daily rental. It had ~30 000 kms and the rest of the warranty (50 000 kms) when we got it in March of 2004.

It was nicely appointed with many upgrades and free oil changes for 2 years for many $1000's less than new.

It has 80 000 kms.+ now and we couldn't be happier.

We would never buy new in the future.
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-05-2007, 07:05 PM   #27
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Re: Thoughts on buy or lease new car, Technology changing fast

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Originally Posted by 73ss454
Hey FD, did you take look at some of the net worth's on the board for this year. Many of these folks can afford to lease.
We didn't get to ER by leasing.

Haven't bought new since 1981, either...
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-05-2007, 07:53 PM   #28
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Re: Thoughts on buy or lease new car, Technology changing fast

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Originally Posted by Cut-Throat
I can watch DVD movies in it also when the car is parked!
Is that actually a hardwired transmission interlock or just a safe idea?
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-05-2007, 07:56 PM   #29
 
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Re: Thoughts on buy or lease new car, Technology changing fast

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Is that actually a hardwired transmission interlock or just a safe idea?
It's actually hardwired. You have to have the parking brake engaged. Although, there are some guys that are doing some mods to over ride this.

Having had both the cell phone and the Navagation system, I can say that the cellphone is far more distracting. The person on the other end of the line comanding your attention is dangerous. I won't do cell phones driving.
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-05-2007, 08:10 PM   #30
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Re: Thoughts on buy or lease new car, Technology changing fast

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Originally Posted by Cut-Throat
It's actually hardwired. You have to have the parking brake engaged. Although, there are some guys that are doing some mods to over ride this.
I'm just trying to imagine the thought process of the automotive engineer who decided that it'd be cool to sit in a parked car watching DVDs. Maybe he expected it to make him a chick magnet.

Unless, of course, the navigation system was designed by hacking a DVD player.
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-05-2007, 09:06 PM   #31
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Re: Thoughts on buy or lease new car, Technology changing fast

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Originally Posted by Nords
We didn't get to ER by leasing.
No, but now that we're FIRE'd, leasing sounds pretty good. I can drive nice cars and not mess with investments. I lease one and own two. Thinking about dumping the really old one and leasing another new one. I absolutely can not justify it financially, but I've decided that I'm a-okay with that. Trying to enjoy some of that FI.
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-06-2007, 02:51 PM   #32
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Re: Thoughts on buy or lease new car, Technology changing fast

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No, but now that we're FIRE'd, leasing sounds pretty good. I can drive nice cars and not mess with investments. I lease one and own two. Thinking about dumping the really old one and leasing another new one. I absolutely can not justify it financially, but I've decided that I'm a-okay with that. Trying to enjoy some of that FI.
OK, good point.

All financial assumptions have to be examined after FIRE, especially if they're part of the entertainment & vacation budgets...

I'd still feel that I wasn't mature or responsible enough to handle a leased vehicle. Too much to take care of and to protect from careless dings.
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-06-2007, 10:38 PM   #33
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Re: Thoughts on buy or lease new car, Technology changing fast

i lease or own according to how long i intend to hold onto a vehicle and how many miles to drive it.

as to the percentage of my funds, i paid for cars according only to my lbym figure before retirement and i'll be figuring similarly after retirement based less on my lbym figure and more on the swr. so lease or ownership becomes less relevant as either way i'm within my budget.

as i don't chance destroying my aging knees on surf boards or in martial arts, i have no problem ding-safing cars on the opposite side of the parking lot for fear that i won't be able to walk back to it. though i've noticed less dings in cars with handicap stickers as they do get the wider spots.
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-07-2007, 09:31 AM   #34
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Re: Thoughts on buy or lease new car, Technology changing fast

Is it worth buying "previously owned" from the dealer or do you pretty much get screwed here too?
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-07-2007, 09:44 AM   #35
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Re: Thoughts on buy or lease new car, Technology changing fast

i think you'd still be beating previous depreciation. and as that seems to be where most used cars wind up, you'd be gaining choices you won't have in the private market. the more time you spend in a car, the happier you should be with it. www.edmunds.com shows the retail markup of used cars.

i sure wouldn't bother leasing a used car though, seems to defeat the purpose.
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-07-2007, 10:14 AM   #36
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Re: Thoughts on buy or lease new car, Technology changing fast

A timely question. DW/me were out "shopping" yesterday, to replace my 18 year old "daily drive", in preperation for retirement this year. Not that we "need" a car, but that we can now walk into a dealership and know we can put "cash on the barrel".

Speaking of technology, the salesman had a checklist to fill out concerning the '89 Olds (we are trading it in, just to get rid of it. We don't want the hassles of selling it privately, and our tax basis is such that donating it dosen't make a lot of sense from a financial view).

Anyway, one of the questions was "was the airbag(s) ever deployed". I replied, "certainly not, since it has no airbags ".

Thus the question of technology.

We never bought a car, depending on technology or "style". We bought it based upon it's ability to get us from point "A" to point "B".

That being the case, and that we keep our cars a long time (since we are cheap frugal) has led us to the "state of FI" (and in a few months, RE ).

- Ron
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-07-2007, 07:20 PM   #37
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Re: Thoughts on buy or lease new car, Technology changing fast

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Originally Posted by lazygood4nothinbum
i think you'd still be beating previous depreciation. and as that seems to be where most used cars wind up, you'd be gaining choices you won't have in the private market. the more time you spend in a car, the happier you should be with it. www.edmunds.com shows the retail markup of used cars.

i sure wouldn't bother leasing a used car though, seems to defeat the purpose.
Edmunds and Kelly Blue Book are way out of whack............ :P :P

Anybody got a recent NADA Black Book I can borrow??
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-07-2007, 07:46 PM   #38
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Re: Thoughts on buy or lease new car, Technology changing fast

Whatever you choose to do, do it on the last day of a month. Sales quota pressure the evening of the 30th or 31st is worth a few hundred bux.
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-08-2007, 09:26 AM   #39
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Re: Thoughts on buy or lease new car, Technology changing fast

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Whatever you choose to do, do it on the last day of a month. Sales quota pressure the evening of the 30th or 31st is worth a few hundred bux.
It is??
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Re: Thoughts on buy or lease new car, Technology changing fast
Old 01-08-2007, 10:00 AM   #40
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Re: Thoughts on buy or lease new car, Technology changing fast

Check out reports from new car show, see a lot of electric/gas talk by
2009, at lower costs than todays cars...another push to lease for 2 yrs
or so then see what is going on in the marketplace...a lot of new styles
and concepts, and my thought is that it will happen fast as the American
public will demand that car mfg's build cars that are gas misers...

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