[ATTACH=CONFIG]21985[/ATTACH]
He is probably waiting there with a medium dog cage/crate that is built into his Chevy Captiva
It’s a Chevy Captiva, damn it.
Please see edited post #41.
I used to feel the same way, but there ARE times where it makes sense (my 2012 F150 is a lease)…
for example, my f150…
I walked in prepared to BUY it. My price on A-plan was $25,xxx out the door. A 5yr loan term was going to be $441 a month for a payment. Leasing for 36mo was (is) $260/mo, and in 3yrs I can get another one for probably a BETTER payment from loyalty and such that has BRAND NEW everything on it… so to take this example out to 5yrs going on payment prices alone, I’d have spent $12-14k to OWN the truck I’m leasing, not including having to take care of maintenance items such as brakes and tires and such. Blue Book values of a 5yr old f150 are around guess what… $12-14k. So BEST CASE SCENARIO in 5yrs its a dead wash. But by leasing I’m holding on to almost an extra $200/mo NOW. Plus, if it doesnt make the same sense when this lease is up, I BUY the next one, OR see what the bubble is on this one to keep it should I feel that’s a good idea.
Leasing DOES have it’s place.
EDIT: to the OP, if you haven’t figured it out already, PM Beck and at least weigh out the option of putting her in a toyota lease plan
I must also disagree with the lease options. You could pay $200/month on a $5000 car for about 2 years, and walk away with a $3000 car at the end…or lease a car for $200/month and have nothing at the end.
Also, those of you who believe a $5000 car will only last 2-3 years, I’m not sure where your experience comes from. I made an $800 civic last 5 years/ 60k miles.
If money is an issue, then some sacrifices have to be made. Sometimes you might have to do your own brakes to save a little cash. That’s how you get ahead in life.
I agree with you guys.
I never really thought about leasing for her. But it could make sense and be feasible. I know for myself I would rather own my vehicles and not the bank. Both of my cars are paid off lol.
I might simply help her out and do some maintenance as long as it’s not anything time consuming such as head gaskets or whatever.
---------- Post added at 02:52 PM ---------- Previous post was at 02:51 PM ----------
And I think right now her best bet is buying a beater until she has better income. I’m not sure if she would want a car payment as she is only 18.
This thread was about a girl so disregard working on your own shit.
Most of us having nothing against buying a beater for cash…I drove around a purple 1994 SL1 Saturn for a couple years I got for $800.
You do realize buying a $5000 car and having it still worth $3000 2 years later is dream?
The thing everyone was against was financing a car for 5000.
A $5,000 car today is worth $500 on trade in 3 years, maybe $1,000.
Leasing is the way to go. You wouldn’t buy a house if it was worth 1/3rd of what you paid for it in 5 years, not to mention, maintenance and repair costs.
You’re math is skewed. If you finance a $5,000 car for a $150 payment, you’d be paying on it for 4 years…assuming a good rate. In 2 years, you’d still owe more than half of what you originally financed, meaning if you sell it for $3000 (unlikely) you’re going to walk away with almost nothing.
Look, the original point is that leasing is a cheaper short term option, that is nearly the equivalent of buying new and sellign at the end of the 3 years. My point is that it is likely a better alternative than financing a $5k car. I mean that in terms of comfort, maintenance and financial security.
The ideal option here is that you find your girlfriend a $5k car from a private seller and pay cash for it. This provides you with reasonable cost, financial security (you don’t potentially owe a bank more money than the car is worth) and if you shop it correctly, a reasonable level of reliability.
The last thing you want to do is to finance a $5k car at a high interest rate, then 6 months later you need to sell and you can’t get enough out of it to pay off the loan. Even worse, if there is major mechanical damage and the car needs to be scrapped.
Also remember, lenders will require collision coverage on insurance, so your insurance costs are higher.
edit: didnt see beck’s post above me because i was busy typing. seems he’s stated some of the same things i was intending to.
NYS law mandates collision, liability and full comprehensive on any vehicle with a lein.
---------- Post added at 02:58 PM ---------- Previous post was at 02:58 PM ----------
“BUT IF YOU LEASE, YOU HAVE NOTHING LEFT AT THE END. YOU NEVER OWN THE CAR.”
Some people are going to have a really hard time when they move out of their parents basements.
Yes, that is true.
I’m thinking more long term. Basically whatever the solution we’re thinking in years not months.
I never said you “never own the car”. i simply look at long term. I’ve had my Toyota Celica 6 years, and will for the next 6. My 350Z for the next 10 years.
One thing that makes a big deal breaker when leasing is the money factor and residual.
Been googling and reading up on leases?
When did a 5k car become a piece of shit? I do agree that leasing might be a good option for her.
since values went way up due to the gas crisis and economy slump…causing DECENT used cars to be “worth” much more than $5k now. $5k these days will get you an 7-10yr old 100,000mi+ econobox basically(at a dealer).
FWIW, my lease paperwork shows that over the course of the 3yrs I will have this truck I’ll have paid roughly $9k. that is on a $25k priced truck. If this chic can “afford” half of that, she can ABSOLUTELY get a lease deal for around $150/mo on a very decent entry level car…brand new, maintenance-free, comfortable, reliable. This is an 18yr old female we are talking about…full coverage for her is probably only going to be fucking $80/mo on a small economy car.
As I said I’ve worked in sales at dealers. I know how they work and I have my bachelors in marketing. Present versus future value blah blah.
But thanks for being a dick.
My brothers Camry at the time when he got it was a $2000 car that was with 150K, it now has 100K more and still worth something.
She’s 18? She should go live on a college campus without a car.
INB4NUDES
Wow. We’re slipping.
If my aunt had balls she’d be my uncle, what’s your point?
I’m trying to help you. If you worked in sales at a dealer, and don’t anymore…and are looking for a $5,000 car, obviously you should be taking my advice.
PS - His car is worth $350.
PSS - I’m TRYING to help you.