So true!

 

Do you know what your buyout price is chance, Im wondering what that is versus a 36 month lease. Mine for 36 months was 31, 600 or so

 

I agree. I sold my 13 year old 2002 Acura TLS with 120k miles on my own on craigslist in 3 days. Dealer was offering $2500 originally for my trade with $500 off MSRP on new fully loaded 3IS F Sport. Selling Acura on my own net'd me additional $3250 for total of $5750 and I was able to get the car for $3500 off MSRP. This is total of $6250 difference in my favor by doing minimal amount of additional work.

 

How do you get attention driving a dime-a-dozen car? The 3IS looks different than almost every other car on the road, and they are not very plentiful making them rather attention-getting, at least for now.

 

Keyframe, I called my insurance company and gave them my scenario of putting a proposed $14,000 down on a leased car. They said they will payoff the ACV on the car. The lease company gets paid first and if there any residual left it would be paid to me. They said if the car gets totaled or stolen early in the lease (first few months) I get more back, if it happens later after 2 to 21/2 into the lease I would not get anything because of the depreciation of the car and the lease company would get the check anyway. If I elect to put the $14,000 down when the car comes in, it is almost the equivalent of what they call a One Pay lease which I read about today. Im so confused right now I have no idea what I will do.

 

It's the luxury thing. A BMW or Benz badge is considered more of a luxury vehicle than a Lexus badge.

 

I would negotiate better terms for your lease no question about it. If not wait until you get it.

I know "gotta have it" urge can be tough especially when you like the car a lot but it needs to be done on better terms. You are not talking about the last car available. There will be plenty for you and maybe even one with ventilated and memory seats!

 

Why would you put $14K down?
Go with multiple security deposits to get the payment down some and get the security deposits back at lease end.

 

You can say some people see high price and high maintenance as feature of the car! LOL!

 

1. My friend is only 150lbs at 5'10, but good job assuming and resorting to petty attacks!
2. Toyota Camry isn't fun to drive ...you missed the whole first and last paragraphs.
3. Re-reading my statement (one sentence in particular) I can see how it could be misinterpreted as douchy but I assure you no harm was meant. In fact, till this reply of yours I would not have called this a "argument" but a discussion. The whole tone of my reply was merely to point out both sides have equal merits. Outside of that sentence that got misinterpreted, I gave you no fault in any way in my reply. If I meant to dishonor you, trust me it would not be passively aggressively. It would be direct and without question.

I have no desire to get caught up in a forum flame war, especially when my words came across in a way I did not intend. If you are ok with this than I will apologize but if you still hate me than so be it.

 

Yup. I agree with this.

At the end of the day, its all about 1) need of leverage given the cost of living in your location, and 2) understanding/mentality of alternative investments. responses on this thread are not surprising if you look at peoples sig locations. you would be more hardpressed to find car owners in the west coast and north east because paying for things outright in cash makes less sense given the alternatives. cash could be put to much better use paying down a mortgage, or, just based on demographics, they are more inclined to invest in stocks, bonds, etc.

there is also a strong argument somewhere on wall street oasis, that in the most financial savvy industry, those that crunched the numbers on lease vs buying strongly favored leasing in the end. why? for the principles above, and a stronger understanding of investment alternatives better than that of a depreciating asset. for the example set forth previously - having 50k in cash and putting it towards a car makes less sense than 1k of cash in a down payment with 49k going towards your mortgage, or investing.

advertising is a good indication of this. certain areas (metro NYC for example) you will only see car ads with monthly lease quotes. alternatively, if you walk into a dealership in texas and start talking about leases, they may defer you to another salesman that knows what the hell your talking about.

interestingly enough, there is a geographic study that layers 3 items: Leasing vs owning cars, owning stock vs not, and cost of living index. the overlaps are startling.

...not placing preconceptions on people, as everyone has their own unique situation. just stating demographical studies...on a whole, the ratio of those leasing vs buying is strongly in favor of one or the other from a geographic standpoint..