# If I were to trade in the 6.... **URL:** \ **Category:** NYSpeed Automotive\ **Created:** [July 19, 2006, 10:07am UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788 "2006-07-19T10:07:42Z")\ **Posts on this page:** 20\ **Page:** 2
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [July 20, 2006, 11:51am UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/21 "2006-07-20T11:51:46Z")
PM replied…doooooeet ---
**Author:** ![jay\_g](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jay_g/32/111288_2.png) [@jay\_g](https://forums.speedlife.net/u/jay_g)\ **Post date:** [July 20, 2006, 11:56am UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/22 "2006-07-20T11:56:11Z")
Good luck :tup: ---
**Author:** ![BAD99TA](https://avatars.discourse-cdn.com/v4/letter/b/5fc32e/32.png) [@BAD99TA](https://forums.speedlife.net/u/BAD99TA)\ **Post date:** [July 20, 2006, 11:57am UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/23 "2006-07-20T11:57:55Z")
> [@Clean Baldy](#): > > I just went and testdrove a black 2004 GTO with 16k miles on it. If I get what I want for my trade, and they sell it to me for how much I want, the car payment will be the same. > > So… what do you guys think? going from a 2004 Mazda 6S fully loaded with 48000 miles, to a 2004 GTO with 16k miles… 🙂 DO IT Jeff! Come…to the dark side! EDIT: Is it an M6 or auto? ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 20, 2006, 12:02pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/24 "2006-07-20T12:02:39Z")
GTO… no 05+, no care. LS2 \> LS1. 400 HP \> 350 HP. Scooped hood \> not scooped hood. ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [July 20, 2006, 12:06pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/25 "2006-07-20T12:06:18Z")
> [@JayS](#): > > GTO… no 05+, no care. > LS2 \> LS1. > 400 HP \> 350 HP. > Scooped hood \> not scooped hood. LS2 GTO totally knocked the price on the 04 down. You can get 04’s with 10-20k miles for around 18-19k now, whereas 05’s are around 24k. 04 GTO + scooped hood + $5500 for a blower when warranty expires = 550HP. \>LS2. ---
**Author:** ![BAD99TA](https://avatars.discourse-cdn.com/v4/letter/b/5fc32e/32.png) [@BAD99TA](https://forums.speedlife.net/u/BAD99TA)\ **Post date:** [July 20, 2006, 12:06pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/26 "2006-07-20T12:06:39Z")
2004 GTO \> 2004 Mazda 6 However, JayS has a very valid point as well. Decisions decisions… ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 20, 2006, 12:30pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/27 "2006-07-20T12:30:09Z")
> [@Joe](#): > > LS2 GTO totally knocked the price on the 04 down. You can get 04’s with 10-20k miles for around 18-19k now, whereas 05’s are around 24k. > > 04 GTO + scooped hood + $5500 for a blower when warranty expires = 550HP. \>LS2. Yeah, all good points. Get the 04. I’ll just be faster than you when I get my 05 😉 ---
**Author:** ![Clean\_Baldy](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/clean_baldy/32/7308_2.png) [@Clean\_Baldy](https://forums.speedlife.net/u/Clean_Baldy)\ **Post date:** [July 20, 2006, 1:06pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/28 "2006-07-20T13:06:28Z")
I guess I should have done my research, but again… I need payments to be the same if not lower than what I have now. The 05 would put me over budget. Do you think I’ll feel less superior in the 04, knowing the 05 is faster… ??? Damnit, back to searching again ☹ ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [July 20, 2006, 1:09pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/29 "2006-07-20T13:09:02Z")
Either way it’s better than what you have now, and potentially cheaper. If you really feel less superior, get a scooped hood if thats your thing and spend $500-1000 in bolt ons that will put you a little ahead of a stock LS2. ---
**Author:** ![Clean\_Baldy](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/clean_baldy/32/7308_2.png) [@Clean\_Baldy](https://forums.speedlife.net/u/Clean_Baldy)\ **Post date:** [July 20, 2006, 1:18pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/30 "2006-07-20T13:18:00Z")
> [@Joe](#): > > Either way it’s better than what you have now, and potentially cheaper. > > If you really feel less superior, get a scooped hood if thats your thing and spend $500-1000 in bolt ons that will put you a little ahead of a stock LS2. I have a 220bHP FWD car right now, that weighs 3300 lbs. It does a 10.5 second 1/8th mile. I honestly don’t think that a 350bHP RWD car weighing 3800 lbs and does 0-60 in 5.3 seconds will leave me feeling sad. Either way, I think I win. The only thing I’ll be missing is the trunk space for my 1200w system ☹ No more bass for me… :sad: ---
**Author:** ![walter](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/walter/32/7202_2.png) [@walter](https://forums.speedlife.net/u/walter)\ **Post date:** [July 20, 2006, 1:19pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/31 "2006-07-20T13:19:59Z")
From another board > [@Walter](#): > > That’s right and wrong. > > Leasing is right for a few people, but NO ONE should be financing any car for 60 or 72 months. If you have to, you can’t afford it. > > Leasing is right if you must have a new car every 2-3 years, and DO NOT DRIVE MUCH. > > Other than that, leasing is the retardo. I don’t understand how people think leasing is fine, yet understand that rent-a-center is retarded. Same concept. > [@Walter](#): > > You can buy a new 72" plasma TV for $30/month on your %30 interest credit card, it doesn’t mean it isn’t retarded. > > > QUOTE > > Leasing is right for ANYBODY that swaps cars every 2-4 years and only wants a new one! The only time mileage matters is if you turn the vehicle back in to the dealer at the end of lease OR if it’s excessive (60k miles in 2 years) when trying to trade it in on another vehicle. > > WRONG. If you can pay for the car, or make a sizable down payment (which is smart anyway), then as long as you aren’t buying a Chevy that will depreciate faster than a golden turd, then it will be smarter to purchase than lease. Leasing leaves you with NOTHING. > > Not to mention that changing cars every 2 to 4 years is STUPID. It is a LUXURY, and one of the worst places to put your money. Extending yourself by going to the longest loan term available only adds stupidity to the fire. If you want to switch cars a lot, then that’s fine, ti doesn’t mean it is RIGHT or SMART at all. > > Add on to that that if you drive more than 12,000 miles a year (I drive about 24k personally) then it also is incredibly dumb. > [@Walter](#): > > For the mathematicly challenged, here are some quick numbers. > > Purchase an 04 Accord 3.0LX, MSRP $23,300 (who pays MSRP anyway?) > > Put $10k down (perfectly reasonable ammount) and finance over 3 years @ 5.25%. > > Monthly payment is $400 > > KBB 3 years later is $18k > > Your totaly cost to own (Down payment + all loan repayment - blue book value) is $6403.87 > > Say you get a super lease for $350/mo, stay under mileage, etc etc etc. Your lease payments are $12,600 for 3 years. Nearly double the cost to buy the car WHEN YOU CAN AFFORD IT. > > How about only 1/3 down ($7500)? Your cost is still only $6595, still way less than leasing. > > You know how so many ghetto ass retards drive around in Navi’s with TVs? They do math like you do. They can pay the lease on a car that is far beyond what they can afford. The majority of people leasing are doing this, biting off way more than they can chew. It has nothing to do with wanting new cars, it has everything to do with sucking at money and wanting to live beyond their means. > > Does leasing allow you to have more car for less money? Sure. Does it allow you to get new cars all the time? Sure. Does it make financial sense? Fuck no. > > There are a few cases when it makes sense, the MAJORITY of the time it does not. > > There is a LARGE difference between being able to pay for something, and being able to AFFORD it. > > Come back when you’ve reached the real world. > [@Walter](#): > > I got 5.875% on a used car 3 months ago. > > People’s that credit is getting them 9% (that’s a joke) should be even more concerned about buying a car every 4 years. And people that can’t come up with 1/3 of the purchase price like in my example ($7500) should also really be concerned. People can’t get 9% credit, also aren’t likely o qualify for a good lease. According to Honda, someone like that is likely to be paying closer to $450/month. And on top of that, their lease vs. buy calculator won’t even work unless your downpayment exceeds 20% of the value of the car. Not having the down payment = not affording it. > > Yea, it’s not fun to hear, but it’s the truth. > > And look at what I said in nearly every post. There are situations where it makes sense, esp. in business related situations. > > People can get 100% financing for a house these days, you don’t even need stellar credit, however, it still doesn’t meant it’s a good idea. > > If you can only put, 2 3 or 5 grand down, you should NOT be buying a brand new $25k car. It’s plain and simple. If you are going to be successful, and good with money, you’ll understand that and get something within your means. > > Sure, there are people who will buy cars just to have cars, and that’s a choice you can make. Everyone can choose to waste their money on whatever they want, it doesn’t mean it’s right or a smart decision. > [@Walter](#): > > Ran more numbers. > > For someone w/ (IMO) bad credit and bad sense, say you put down $5k @ 9% over 48 months. Your monthly payment is $450.40. Your total cost of ownership is still only $8,859. > > If your credit is that poor, my guess is you either don’t qualify for my stellar lease price, or a lease term. Either would make the $12,600 figure quoted go up. > > So even with only 5 grand down, you can see it still doesn’t add up like some people would like to have you believe. > > Like I said, for the majority of people, LEASING FTMFL! **Cliffs** Leasing is ok for a _very_ small portion of the population. For the rest of us/you, it’s just allowing you to live beyond your means and waste money. People need to learn the difference between being able to “pay” for something and being able to “afford” something. ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [July 20, 2006, 1:20pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/32 "2006-07-20T13:20:38Z")
LOL i’m getting my system from my firebird installed in a couple weeks, 2 10’s, 800w amp for them, 300w speaker amp, 4 6.5 components. What do you have, 12’s? ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [July 20, 2006, 1:28pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/33 "2006-07-20T13:28:18Z")
Interest rates have gone up so you can probably figure at least 4% financing. So… you might be able to come out ahead $3000 if you trade it in. So if you buy a 21,000 dollar car you get: (21000-3000)\*1.0875 = 19575 financed @ 4% for 5 years = $360.50 per month. ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [July 20, 2006, 1:32pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/34 "2006-07-20T13:32:11Z")
Oh, and like Walter said, leasing is the suck. Paying a lot of interest from high rates and/or long terms is also the suck. ---
**Author:** ![STEALTTH](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/stealtth/32/7582_2.png) [@STEALTTH](https://forums.speedlife.net/u/STEALTTH)\ **Post date:** [July 20, 2006, 1:35pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/35 "2006-07-20T13:35:25Z")
If you get the GTO…You’re going to love it. ---
**Author:** ![ly555is](https://avatars.discourse-cdn.com/v4/letter/l/3bc359/32.png) [@ly555is](https://forums.speedlife.net/u/ly555is)\ **Post date:** [July 20, 2006, 2:55pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/36 "2006-07-20T14:55:59Z")
damn, walter’s got some kickass posts that just cleared up so much shit for me :tup: i know that it did for some of you too but you’re too cool to admit it ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [July 20, 2006, 3:00pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/37 "2006-07-20T15:00:29Z")
He skewed the information to make himself look right though, if i had more time i could do the opposite. He picked a really really low depreciating vehicle, relatively, and fudged some numbers. I only have a minute going down to the square but you can start by paying 8.75% tax on $20,000 worth of equity that you wouldnt have had to before($1800 extra up front.) If you put your $10,000 down payment into a savings account earning 5% for the 3 years to make the payment out of, you still end up earning another thousand in interest. Also, your lease payment depends directly on the buyout at the end of the lease. High buyout, low payments. Low buyout, high payments. If you pay high payments for 3 years, you’re likely to have the option to purchase the vehicle at well below market value. That covers the difference. Leasing can work out to be a great deal if you don’t go over the mileage, are smart about it, and dont have joel giambra credit. ---
**Author:** ![ly555is](https://avatars.discourse-cdn.com/v4/letter/l/3bc359/32.png) [@ly555is](https://forums.speedlife.net/u/ly555is)\ **Post date:** [July 20, 2006, 3:01pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/38 "2006-07-20T15:01:21Z")
hrm… if you get the time, i’d like to see the opposite bro :tup: ---
**Author:** ![walter](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/walter/32/7202_2.png) [@walter](https://forums.speedlife.net/u/walter)\ **Post date:** [July 20, 2006, 3:17pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/39 "2006-07-20T15:17:56Z")
> [@Joe](#): > > He skewed the information to make himself look right though, if i had more time i could do the opposite. He picked a really really low depreciating vehicle, relatively, and fudged some numbers. No, I didn’t “fudge” any numbers, none. > I only have a minute going down to the square but you can start by paying 8.75% tax on $20,000 worth of equity that you wouldnt have had to before($1800 extra up front.) > If you put your $10,000 down payment into a savings account earning 5% for the 3 years to make the payment out of, you still end up earning another thousand in interest. Talk about fudging numbers, there are only one or two online only places you can get a 5% rate on a savings account. Why not quote HSBC down the road? Oh yea, it’s only %.25 on a regular savings account. :hang: Next, most leases require money down, there are specials run when you can get zero down, but guess what, you can get 0% on a car loan as well… > Also, your lease payment depends directly on the buyout at the end of the lease. High buyout, low payments. Low buyout, high payments. If you pay high payments for 3 years, you’re likely to have the option to purchase the vehicle at well below market value. That covers the difference. Leasing can work out to be a great deal if you don’t go over the mileage, are smart about it, and dont have joel giambra credit. Really? Your astounding proof of “I told you so” has immediately changed my financial planning methods. How about the fun stuff you aren’t caring to remember, like the exorbitant rate you’ll have to pay when you go over your measly 12,000 miles/yr. Oh wait, that’s right, cheap charlie probably thought he’d save money by only getting 10,000 miles a year anyway. We’ve all had that friend “I can’t drive, I dont’ want to put miles on my lease” :touchy: When it’s all said and done, cars are luxuries. Only in a VERY small percentage of the time does leasing make any sort of financial sense (arguably never). If you like cars, and want new ones, then you pay to play, it’s not that big a deal, but in reality, one isn’t necessarily “smarter” than the other, it’s just “less dumb”. Everyone is entitled to spend their money however they want. You can buy plasma TVs on your credit card, and rent a phat apartment with a parking spot for your leased M3, but when it comes down to it, it’s just plain dumb money. It’s ok, because most people really suck at money. :gotme: ---
**Author:** ![Clean\_Baldy](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/clean_baldy/32/7308_2.png) [@Clean\_Baldy](https://forums.speedlife.net/u/Clean_Baldy)\ **Post date:** [July 20, 2006, 3:22pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/40 "2006-07-20T15:22:25Z")
I will know tuesday if the car is mine. They guy called me and we quickly talked 60-month payment of $375/month. So, if the other buyer backs out… I may have the car for the price I was looking to pay. Very close to what I pay now. 🙂 [Previous page](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788.md?page=1) [Next page](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788.md?page=3)