IS300 purchase vs lease
05-23-17, 04:53 AM
#61
Lexus Fanatic
Me and my buddy refer to constantly swapping cars, as, "JKB fever." The reason is those are his dad's initials, and when we were in HS, his dad would come home with a new used car maybe every 3-6 mos., and we would eagerly anticipate what would come next. And, having 3 boys and a girl in the household, he always had 4-5 cars total (oldest brother I never really knew). Mercedes, BMW, Volvo, Subaru, you name it. But of course my favs were the BMWs and Volvos, and a turbodiesel S class MB. The Subarus were all purchased new as were the Volvos, the rest used. Maybe that's why my first 3 cars were Volvos, who knows. When we reconnected he was getting out of an Odyssey, and into a CR-V, and now had 2 more CR-Vs, his and hers. But last year, JKB fever came back and he got a 1965 Mustang convertible. Interesting, 3 Thanksgivings ago he told me back in his day, when you were 50, you were forced out. He was a CPA with a then big 8. So he found himself 57 y.o., and he made partner, being forced into retirement, but said he found that he had not saved enough because he already had 2 in college, and 3 more headed there. He did consulting work through his late 60's, and I got the feeling he wasn't recommending it....
p.s. my buddy said his uncle was into the American wagons like me, and would get a new one every 2-3 years....never met this uncle as he was in MI...
p.s. my buddy said his uncle was into the American wagons like me, and would get a new one every 2-3 years....never met this uncle as he was in MI...
05-23-17, 06:33 AM
#62
Lexus Fanatic
Me and my buddy refer to constantly swapping cars, as, "JKB fever." The reason is those are his dad's initials, and when we were in HS, his dad would come home with a new used car maybe every 3-6 mos., and we would eagerly anticipate what would come next. And, having 3 boys and a girl in the household, he always had 4-5 cars total (oldest brother I never really knew). Mercedes, BMW, Volvo, Subaru, you name it. But of course my favs were the BMWs and Volvos, and a turbodiesel S class MB. The Subarus were all purchased new as were the Volvos, the rest used. Maybe that's why my first 3 cars were Volvos, who knows. When we reconnected he was getting out of an Odyssey, and into a CR-V, and now had 2 more CR-Vs, his and hers. But last year, JKB fever came back and he got a 1965 Mustang convertible. Interesting, 3 Thanksgivings ago he told me back in his day, when you were 50, you were forced out. He was a CPA with a then big 8. So he found himself 57 y.o., and he made partner, being forced into retirement, but said he found that he had not saved enough because he already had 2 in college, and 3 more headed there. He did consulting work through his late 60's, and I got the feeling he wasn't recommending it....
p.s. my buddy said his uncle was into the American wagons like me, and would get a new one every 2-3 years....never met this uncle as he was in MI...
p.s. my buddy said his uncle was into the American wagons like me, and would get a new one every 2-3 years....never met this uncle as he was in MI...
05-23-17, 07:00 AM
#63
Lexus Fanatic
Gotta be careful buying and selling more than just a couple of vehicles in any one given year, though. Depending on the state and just how they are written, one could (?) run into curbstoning laws, which require a license to buy and sell more than a certain number of vehicles in a year.
I know my in-laws got fined for having so many cars in their driveway (private property). PD was in the driveway recently with a flashlight looking at a Volvo with FLA tags. A nosey neighbor complained they are operating a motor vehicle repair shop out of their residence, which they are not (having all kinds of tools, air compressors, 50 ton presses, etc. really doesn't help the case). They just happen to work on cars and have so many in-laws who live in NYC and have no garage space to do so.
05-23-17, 07:25 AM
#64
Lexus Fanatic
That's not curbstoning lol
05-23-17, 04:17 PM
#65
Lexus Fanatic
I think you have your answer then. Even at 6 years I would buy vs lease if I were you. If the financials are the same, then you are in a better position at year 6 as you can keep, sell, trade, or do whatever you want. Your life might not be the same as you think it is when you first sign the first lease.
05-23-17, 04:26 PM
#66
Lexus Fanatic
No, not in most places. I just brought it up, though, because laws differ state by state. Pat Goss, from Motorweek (I don't know if you listen to his call-in show or not....I occasionally do) repeatedly warns people about that, though, who buy and sell more than a couple of cars each year.
05-25-17, 07:46 AM
#68
Lexus Fanatic
Congrats! Enjoy it.
05-25-17, 11:01 AM
#69
Lexus Fanatic
05-25-17, 11:50 AM
#70
Lexus Fanatic
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