In Reply to: Not really much higher....New is 0 maint for 3/36..., Mike Lynch [Profile/Gallery] , Fri, 11 Feb 2005 12:34:24

buying.

For a 10 yr old car, you drop comprehensive, and keep minimium. If someone tells me my 10 yr old mint condition 9000 is worth more than $5,000 I take the money. If I crash the car tomorrow, I walk away without owing anyone. If I got body damage to my 10yr old car, I doubt I would spend much to fix it. I'm sure I would think differently if I have a much newer car.

If buying a new car, you most likely want full coverage, unless you don't mind walking away if totaled. If lease, you pay full coverage, plus gap if you desire. Either case, your out of pocket is way more than keeping the old car and paying for repairs, more so for high insurance states.

Money has to come out of somewhere, you pay Saab upfront in the lease/purchase for your $0 3yr/36K miles. I have a 2003 9-5 Aero, I would be lucky if I could get $20K out of it wholesale currently. I paid $35,846 + tax & lic new. The depreciation alone is a hell lot more than paying for any repair for my 1995 9000 in the last ten years and I don't do much repair myself. Incidentally, I paid over $30K for the 9K in 1995, and it is until recent years that my average cost per month (including *ALL* maintainence, including wearable items, plus original cost of the car) has dropped to about $300/month. It is always the last few years of owning the car that makes owning better than leasing.

The same is true for a preown buy/lease. You pay for a CPO, same as the 3yr/36k free maintainence deal for a new car.

posted by 12.42.232...

• To sell or not to sell..., Saaby Texan, Thu, 10 Feb 2005 10:38:27
  • Re: To sell or not to sell..., Saaby Texan, Fri, 11 Feb 2005 12:27:56
  • Time to sell..., Mike Lynch , Thu, 10 Feb 2005 16:04:21
    • But you failed to mention the higher insurance cost...., TKC, Fri, 11 Feb 2005 06:06:20
      • Not really much higher....New is 0 maint for 3/36..., Mike Lynch , Fri, 11 Feb 2005 12:34:24
        • Can't compare apples and oranges, nor lease vs...., TKC, Fri, 11 Feb 2005 13:49:37 <-- Viewing This Message
          • Sure you can compare...., Mike Lynch , Sat, 12 Feb 2005 17:35:39
  • Re: To sell or not to sell..., Chris L, Thu, 10 Feb 2005 14:29:09
    • Heater core would leak on the passenger side..., turrbo , Thu, 10 Feb 2005 15:44:33
      • Don't disagree, Chris L, Thu, 10 Feb 2005 17:39:12
        • Definitely...if it smells like coolant, its probably, turrbo , Thu, 10 Feb 2005 18:00:21
  • My take is similar to others, I don't really do ....., TKC, Thu, 10 Feb 2005 13:33:31
    • Re: My take is similar to others, I don't really do ....., Saaby Texan, Fri, 11 Feb 2005 12:57:08
  • Well, to start with, stay away from the dealer..., Noel, Thu, 10 Feb 2005 11:01:39
  • And the alternative is?, Ari , Thu, 10 Feb 2005 10:43:18
    • Keep car as a spare if you have room, Dave 37, Thu, 10 Feb 2005 18:07:10
    • How to you value conjugal rights?, Dave in Houston, Thu, 10 Feb 2005 13:58:51
      • Where in Houston, 2saabs, Fri, 11 Feb 2005 06:39:00
        • Re: Where in Houston, Saaby Texan, Fri, 11 Feb 2005 12:51:38
          • I live in West University, 2saabs, Mon, 14 Feb 2005 16:08:26
    • Don't forget ..., Eric, Thu, 10 Feb 2005 10:53:37

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