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I second that . . .
Posted by Mike D [Email] (more from Mike D) on Mon, 22 Oct 2001 19:02:59
In Reply to: Re: Lease Deal On 2001 SE Convertible - Looking for Feedback, Jose, Mon, 22 Oct 2001 15:17:21
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. . . I'm really nervous about going beyond 3 years on any lease. Preferably 2 1/2 years, but they get pricey.
The thing is, with a 4-year lease, you're not building any equity in the car -- and still have to keep the car 4 years -- whereas if you did, say, a 5 or 6 year loan, after 4 years you're probably going to have some equity in the car over and above the amount of the loan remaining. One of the original ideas with leasing was that you get to drive a new car every 2-3 years at a reasonable monthly payment, without taking a hit when you give it back. If you take a 5-year loan, these days you're still underwater on the loan after 2-3 years (assuming no money doan), so you'd take a bath when trading it in. But for 4 years, I gotta think that equity would work in your favor, for about the same amount of payments, even if you're on a 5 or 6 year note.
posted by 216.122.6...
Posts in this Thread:
- Lease Deal On 2001 SE Convertible - Looking for Feedback, Marco709, Mon, 22 Oct 2001 15:07:33
- Re: Lease Deal On 2001 SE Convertible - Looking for Feedback, Neal, Mon, 22 Oct 2001 21:05:13
- Re: Lease Deal On 2001 SE Convertible - Looking for Feedback, Gary M., Mon, 22 Oct 2001 16:17:00
- That sounds more like a 36 month payment., brian@saabcenter.com, Mon, 22 Oct 2001 15:32:31
- Re: Lease Deal On 2001 SE Convertible - Looking for Feedback, Jose, Mon, 22 Oct 2001 15:17:21
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