Re: Why wouldn't I just pay cash? Well.... - Saab General Bulletin Board - Saabnet.com
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Re: Why wouldn't I just pay cash? Well....
Posted by Karen (more from Karen) on Thu, 16 Jan 2003 23:55:50
In Reply to: Why wouldn't I just pay cash?, s, Thu, 16 Jan 2003 20:13:40
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For the lease you know exactly how much you will pay. For instance, at $3,000 drive off and $300 per month for 36 months you're at $13,800.
If you pay $33,000 for the same car, you have lost interest on that money for three years (admittedly not that much these days...maybe $1k?) plus the depreciation on the car.
So, if my math is right, I think if you buy the car for cash and sell it after three years for about $20k you will break even vs. the lease. If the car is worth more... then cash was the better deal. If less, the lease was better.
Those of us without $33,000 in cash sitting in a bank account have to decide between leasing and financing. Unless we get an amazing interest rate, leasing looks really good to me and not just from a cash flow standpoint (i.e., buying more car than one can really afford).
I think the best reason for not leasing is that you drive more than 15k miles per year.
Karen
posted by 24.171.157...
Posts in this Thread:
- Saab slashes lease rate on 9-3SS....., Mike Lynch , Thu, 16 Jan 2003 17:52:23
- Why wouldn't I just pay cash?, s, Thu, 16 Jan 2003 20:13:40
- Bragging? Hm.... n/m, Taylor, Fri, 17 Jan 2003 03:46:13
- Re: Why wouldn't I just pay cash? Well...., Karen, Thu, 16 Jan 2003 23:55:50 <-- Viewing This Message
- Motto: A man who can't live beyond his means......, Mike Lynch , Thu, 16 Jan 2003 20:55:44
- Thanks!, chris4, Fri, 17 Jan 2003 07:08:57
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