Great write up, here are some more thoughts... - Saab 9-3SS Bulletin Board - Saabnet.com
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The one wild card in this debate is the interest rate of the loan or lease versus the rate you can get in a CD, savings, or money market account. If you can get a higher guaranteed return in an investment, you should lengthen the loan. When I bought my 2004 9-3, I got a 3.75% loan through my credit union and my money market account was paying 4.5%. I expected interest rates to increase (which they did), so I "earned" money off of the loan. This would also support the case for a lease then purchase method if the lease payments are low. One might also be able to negotiate a lower price on the residual value at purchase time.
The problem with leasing is that it encourages perpetual payments whereas buying a car and holding it for 8 to 10 years provides financial relief after the payments are done, even with repairs and maintenance figured in. One other issue with leasing is that it locks you in to making payments for the length of the lease. Transferring it to somebody else doesn't seem to work too often. A person who purchases a car can
Some people say that when you lease a vehicle, you don’t own it. To that I say that you don’t own a vehicle when you purchase it through a loan until you pay the last dollar off.
Posts in this Thread:
- Help! Choosing between 2006 vs. 2007, A123, Tue, 30 Jan 2007 10:25:36
- Re: Help! Choosing between 2006 vs. 2007, Patrick008, Wed, 31 Jan 2007 10:46:50
- Re: Help! Choosing between 2006 vs. 2007, Teajuice, Tue, 30 Jan 2007 17:59:14
- Re: Help! Choosing between 2006 vs. 2007, TJ, Tue, 30 Jan 2007 17:20:57
- Re: Help! Choosing between 2006 vs. 2007, EGD , Tue, 30 Jan 2007 14:27:11
- Re: Help! Choosing between 2006 vs. 2007, phillymb75, Tue, 30 Jan 2007 13:01:16
- Re: Help! Choosing between 2006 vs. 2007, plap, Tue, 30 Jan 2007 11:47:17
- Value of nav....., Mike Lynch , Tue, 30 Jan 2007 10:48:54
- Re: Value of nav....., Steve Krenz, Tue, 30 Jan 2007 11:41:18
- Re: Value of nav....., A123, Tue, 30 Jan 2007 10:55:53
- Lease pros and cons....., Mike Lynch , Tue, 30 Jan 2007 13:38:57
- Your assumptions may not be true for everyone (+), vvk, Tue, 6 Feb 2007 13:42:24
- Re: Lease pros and cons....., Chris C, Fri, 2 Feb 2007 06:30:47
- Great write up, here are some more thoughts..., Caarma , Thu, 1 Feb 2007 13:23:54 <-- Viewing This Message
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