gtmeouttahere
Recycles dryer sheets
- Joined
- Mar 24, 2006
- Messages
- 128
Actually, I've always been a buy and hold kind of guy but....I just leased a new car for the first time. It turned out that after doing a reverse amortization, it was equal to 2.9% financing with the option to buy after 3 years. It was a Honda Pilot and I know it will retain its value very well.
Besides, I looked in the sales lot and other 3 Year old Pilots were selling for more than $8,000 over my buyout option.
This actually allows me to pay cash in 3 years for the vehicle, if I choose. It also frees up money for me to invest over the next 3 years, instead of paying cash, which I would hope would outperform the 2.9% I'm currently paying.
Also, the family situation, and the type of fuel technology and cars that will be coming in the next few years, It's nice to have an option to offload the vehicle. But in my case I'll probably buy the vehicle and sell it for about $5-6000 more and it will make the lease even cheaper.
This is the first time however that I found a lease that makes sense.
So for now on, I will not rule out a lease IMO, It may be a viable option.
Besides, I looked in the sales lot and other 3 Year old Pilots were selling for more than $8,000 over my buyout option.
This actually allows me to pay cash in 3 years for the vehicle, if I choose. It also frees up money for me to invest over the next 3 years, instead of paying cash, which I would hope would outperform the 2.9% I'm currently paying.
Also, the family situation, and the type of fuel technology and cars that will be coming in the next few years, It's nice to have an option to offload the vehicle. But in my case I'll probably buy the vehicle and sell it for about $5-6000 more and it will make the lease even cheaper.
This is the first time however that I found a lease that makes sense.
So for now on, I will not rule out a lease IMO, It may be a viable option.