# 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:** 7\ **Page:** 3
**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, 5:17pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/41 "2006-07-20T17:17:51Z")
jeff, what’re you going for - the '04 GTO? stick/ auto? thanks joe, walter - i’d never lease anything, but i’m learning a lot from this :tup: ---
**Author:** ![Justin](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/justin/32/7459_2.png) [@Justin](https://forums.speedlife.net/u/Justin)\ **Post date:** [July 20, 2006, 5:34pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/42 "2006-07-20T17:34:20Z")
Used car FTW, never lease. ---
**Author:** ![91MR2](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/91mr2/32/7217_2.png) [@91MR2](https://forums.speedlife.net/u/91MR2)\ **Post date:** [July 20, 2006, 6:35pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/43 "2006-07-20T18:35:37Z")
> [@Clean Baldy](#): > > I don’t know what price range to look in, and I feel if I buy a car that’s 20,000 i’d be taking a step down. Image problem? ---
**Author:** ![Adictd2b00st](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/adictd2b00st/32/7625_2.png) [@Adictd2b00st](https://forums.speedlife.net/u/Adictd2b00st)\ **Post date:** [July 20, 2006, 6:44pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/44 "2006-07-20T18:44:22Z")
used and obd1 ftw 😛 ---
**Author:** ![MaximaSE98](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/maximase98/32/7600_2.png) [@MaximaSE98](https://forums.speedlife.net/u/MaximaSE98)\ **Post date:** [July 20, 2006, 6:45pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/45 "2006-07-20T18:45:44Z")
> [@Clean Baldy](#): > > 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: wow…my 190hp FWD does 9.9 ---
**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, 11:31pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/46 "2006-07-20T23:31:15Z")
> [@walter](#): > > No, I didn’t “fudge” any numbers, none. > > 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… > > 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: So since you decided to use one end of the extreme with the Accord with extremely low depreciation, lets use the other. Say you bought a Lincoln Town Car in 2003. MSRP is 40,270, base model, with nothing on it. Even if you put $15,000 down, almost half of the purchase price, and got 4.9% financing, you’d pay $44,169 total including finance charges to own the car for 3 years. If you sold it 3 years later, KBB is $13,070. That means the total cost to own it was $31,100 for 3 years. Typical lease payment on this vehicle was between $450 and $500 with only tax title and registration down. Throwing out the extra $3000 in taxes and potential interest gained, the cost of leasing the vehicle is between $16,200, and $18,000. So you save between $13 and 15,000. This is just as applicable as your Honda Accord example. So regardless of what finance god, i mean walter says, sometimes leasing is the right move for you. [http://www.bankrate.com/brm/news/auto/car-guide-2004/residual-value1.asp](http://www.bankrate.com/brm/news/auto/car-guide-2004/residual-value1.asp) Good read by the way about residual value and how it impacts lease prices. ---
**Author:** ![\_Karu](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/_karu/32/7602_2.png) [@\_Karu](https://forums.speedlife.net/u/_Karu)\ **Post date:** [July 20, 2006, 11:46pm UTC](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788/47 "2006-07-20T23:46:44Z")
> [@Daddie](#): > > Ahh, buying new cars is like wonderful. > > especially when you realize how much money you are going to lose when you try to sell it later ☹ > > buy used man… this is so true… _sigh_ [Previous page](https://forums.speedlife.net/t/if-i-were-to-trade-in-the-6/14788.md?page=2)