Leasing is for Rich people??? - Saab General Bulletin Board - Saabnet.com
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Leasing is for Rich people???
Posted by Richard P. (more from Richard P.) on Thu, 27 Dec 2001 15:58:55
In Reply to: If you can't afford the payments, don't lease >, ChipJ, Thu, 27 Dec 2001 15:14:47
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How do you figure? I agree that leasing is generally for people who want a new car every few years, but is not for rich people only. For instance, if I wanted to buy a new SAAB 9-3SE, and assume a negotiated price of $28K, with normal APR rates at 5 years with $2k down your looking at a payment of ~$520/month. I can lease that same car with $1500 down for 4 years (12k miles/year) for about ~$350/month. Over four years, I save ($500 + ($70 * 48))= $3860. Let's think of this another way. Using the same example, you'll pay ($520 * 48)=$24960 over 4 years and you'll have a car worth $9000 (I'm giving you the benefit of the doubt here) leaving you with ~$16000 that you paid. I paid about the same amount over 4 years with lease payments. Sure I won't have a car at the end of the lease and you won't have a car payment, but not everyone wants to drive the same car forever. Besides, when you fincance a car, you still loose money on the depreciation, just as you do with leasing plus you loose money on the finance charges, just like leasing. Leasing works out for a lot of people that aren't rich (me for example). As you can see you can make math say anything. For me, leasing works...and I'm no where near being rich. I wish I could drive the same car until the wheels fall off, but I work so that I can have the things that I want, and I want a new car every few years.
Richard P. '99 9-3SE HOT
posted by 168.215.13...
Posts in this Thread:
- is it possible to trade in a car..., larry, Thu, 27 Dec 2001 14:18:23
- Here are some options..., pmr, Fri, 28 Dec 2001 07:28:17
- If you can't afford the payments, don't lease >, ChipJ, Thu, 27 Dec 2001 15:14:47
- Leasing is for Rich people???, Richard P., Thu, 27 Dec 2001 15:58:55 <-- Viewing This Message
- Keep an open mind & run the numbers, Marc, Sat, 29 Dec 2001 15:25:24
- Flawed analysis, Richard (Long), pursang, Thu, 27 Dec 2001 18:59:24
- Define "rich" as someone who >, ChipJ, Thu, 27 Dec 2001 16:41:57
- Money is never "lost" when you trade in...., Richard P., Thu, 27 Dec 2001 14:33:37
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