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lease with buyout is cheaper than buying
Posted by AdamD (more from AdamD) on Mon, 30 Sep 2013 10:09:14
In Reply to: A common misconception about leasing, Know Snaab, Mon, 30 Sep 2013 08:46:14
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My wife and I recently traded our '08 honda pilot to lease a new one.
The math made sense, where if you add up our down payment, our total lease payments, and the buyout at the end (assuming we can still get a decent interest rate) we will have paid less for the car than the original MSRP, including all tax/title/reg. and interest.
And if we decide we don't want to keep it, I still plan to buy it out and sell or trade for probably 5-8k in instant equity.
So, while it would be great to not have a payment, this makes more sense than paying cash for the car!
We did this with our last pilot too, and made money on trading it in. Not bad considering we never put much down.
Adam
'08 9-3 aero sc (will keep for a long time)
'13 Honda Pilot EXL (will keep for a while)
posted by 71.234.168...
Posts in this Thread:
- other fun alternatives, Jeff, Fri, 27 Sep 2013 13:17:20
- I think about this regularly, but the thing is..., Noel, Sun, 29 Sep 2013 17:03:56
- Re: other fun alternatives, Justin VanAbrahams , Fri, 27 Sep 2013 15:06:18
- Re: other fun alternatives, AeroLady, Fri, 27 Sep 2013 15:32:58
- i agree....n/m, Savary , Sat, 28 Sep 2013 07:10:35
- Re: other fun alternatives, Snowmobile , Fri, 27 Sep 2013 19:07:10
- Re: other fun alternatives, Justin VanAbrahams , Fri, 27 Sep 2013 17:00:05
- for fun and unique engineering sign me up for a, K-Saab , Fri, 27 Sep 2013 16:32:29
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