NTers who lease their whips? Vol: new whip every 3 years

[polosanddunks]

First months payment and fees for down payment [emoji]128526[/emoji]

Tell em

 

[diego]

Owning a luxury vehicle isnt a big deal you just have to expect and be ready for higher repair bills.

Unless you run into major issues you still save more on most paid for cars than keeping a payment. Especially if you properly maintain your cars.

If you have a 4-600 a month car payment do you really think you would spend 4800-7200 a year on repairs if you no longer had the payment and saved that payment?

I've always said the worst thing about repair bills is the unexpected aspect of it.
Bills already taken into account against the budget dont suck nearly as bad as that unexpected broken Whateverthefk that you now have to find $800 for.

 

[$tacy]

Exactly why I stay away from luxury joints. Rick from the hood can't give me that special, by the part give him $50, some Newport and a 6 pack. But nah fa real this dude can fix anything on any American car and all he want is a friend, some smokes and beer.

 

[usabasketball08]

Got 12 months left on my lease and I'm already at the mileage limit. Yikes. Lesson learned.

Going to start putting away a reserve each month for the excess mileage payment at the end of the lease. I'll probably buy next time only because I'm in Texas and everything is so spread out so I have to drive a ton of miles.

 

[MVP]

Got 12 months left on my lease and I'm already at the mileage limit. Yikes.

Lesson learned.

Going to start putting away a reserve each month for the excess mileage payment at the end of the lease. I'll probably buy next time only because I'm in Texas and everything is so spread out so I have to drive a ton of miles.

Yikes, that's going to be a helluva bill, you should see if you can increase the mileage. 

 

[usabasketball08]

Yikes, that's going to be a helluva bill, you should see if you can increase the mileage. 

They asked me if I wanted to buy extra miles up front and I said no like a fool. This was my first nice car out of college. Got it 3 months after I graduated thinking I was doing it. Ah man. I pay $325/month.

You're saying that there might be a way that I can increase the miles two years in?

 

[MVP]

They asked me if I wanted to buy extra miles up front and I said no like a fool. This was my first nice car out of college. Got it 3 months after I graduated thinking I was doing it. Ah man. I pay $325/month.

You're saying that there might be a way that I can increase the miles two years in?

I'm not sure, you'll have to look at your lease terms, wouldn't hurt to ask. Or if you can find you a hooptie to get you back and forth, that would be an option too. May end up being cheaper. Or just start saving now, I think most leases are .10-.30 per mile over, if you get yourself a rough estimate based on your previous year of driving that's what you can shoot for. 

 

[SneakerProSr.]

If you like V8 muscle cars, buy them new.

Between the incentives and depreciation rates it makes sense to buy

Trucks and muscle cars are the only things I would buy new.

 

[polosanddunks]

Got 12 months left on my lease and I'm already at the mileage limit. Yikes. Lesson learned.

Going to start putting away a reserve each month for the excess mileage payment at the end of the lease. I'll probably buy next time only because I'm in Texas and everything is so spread out so I have to drive a ton of miles.

Are you getting another car from that same dealer/manufacturer at the end of that lease? If you are they may just waive the excess mileage since your continuing business with them.

Most of the time dudes do that or just sell the car to another dealership like carmax and pay the lease end buyout price and then hop in another lease.

 

[drew]

If you like V8 muscle cars, buy them new.

Between the incentives and depreciation rates it makes sense to buy

Trucks and muscle cars are the only things I would buy new.

As someone else said, I Japanese cars as well.


I wonder what would be a better idea between financing or leasing a GTR.



-Drew

 

[SneakerProSr.]

My wife bought a new Altima 2 years ago brand new.

3000 off sticker and 1.77% interest. I figured it's such a cheap car and such low interest we would be good.

2 years later and it's 4 grand upside down.

My Charger has 3 grand of equity and I have a higher interest rate, more miles and I bought 6 months later.

Never again am I buying another appliance car.

 

[dwalk31]

My wife bought a new Altima 2 years ago brand new.

3000 off sticker and 1.77% interest. I figured it's such a cheap car and such low interest we would be good.

2 years later and it's 4 grand upside down.

My Charger has 3 grand of equity and I have a higher interest rate, more miles and I bought 6 months later.

Never again

This type of math is what made me do the switch.

 

[Betonblck]

My wife bought a new Altima 2 years ago brand new.

3000 off sticker and 1.77% interest. I figured it's such a cheap car and such low interest we would be good.

2 years later and it's 4 grand upside down.

My Charger has 3 grand of equity and I have a higher interest rate, more miles and I bought 6 months later.

Never again am I buying another appliance car.

Did you put anything down on either car?

It's pretty common knowledge that you are upside down the first 2 years of financing a car unless you have a down payment or trade.

Also, you don't buy a car to track the day to day changes in equity like a stock investment, if you are worried about equity after the 1st year of buying a car and not thinking about driving it for at least 5 years, you made the wrong decision.

 

[John Wick]

My wife bought a new Altima 2 years ago brand new.

3000 off sticker and 1.77% interest. I figured it's such a cheap car and such low interest we would be good.

2 years later and it's 4 grand upside down.

My Charger has 3 grand of equity and I have a higher interest rate, more miles and I bought 6 months later.

Never again am I buying another appliance car.

depreciation is real my guy. You never buy brand new unless you just got money to burn and it has to be brand new.

 

[SneakerProSr.]

My wife bought a new Altima 2 years ago brand new.

3000 off sticker and 1.77% interest. I figured it's such a cheap car and such low interest we would be good.

2 years later and it's 4 grand upside down.

My Charger has 3 grand of equity and I have a higher interest rate, more miles and I bought 6 months later.

Never again am I buying another appliance car.

Did you put anything down on either car?

It's pretty common knowledge that you are upside down the first 2 years of financing a car unless you have a down payment or trade.

Also, you don't buy a car to track the day to day changes in equity like a stock investment, if you are worried about equity after the 1st year of buying a car and not thinking about driving it for at least 5 years, you made the wrong decision.

I had positive equity in both of the 2 new cars I bought for myself after 2 years. Hell my Challenger was right side up in the first year.

I had kids which is why I was looking at trading them in.

So in my experience with buying new cars being upside down was a new thing.

Also my wife was pregnant and her car broke down which is why I didn't look at residual values because I kind of needed a car asap for her.

But you live and you learn.

 

[Rootin4EverybodyBlack]

My wife bought a new Altima 2 years ago brand new.

3000 off sticker and 1.77% interest. I figured it's such a cheap car and such low interest we would be good.

2 years later and it's 4 grand upside down.

My Charger has 3 grand of equity and I have a higher interest rate, more miles and I bought 6 months later.

Never again am I buying another appliance car.

Yeah, Altimas don't hold their value at all from what I could gather when I was looking at cars. at them being appliance cars, you're absolutely right about that.

 

[ninjahood]

The problem with leasing is that you just paid a car for 1,2,3 years and when you turn it in you have absolutely NOTHING to show for it lol

I could go to an expensive restaurant tonight and tomorrow morning I'll have nothing to show for it.

durable goods ≠ food

If you like V8 muscle cars, buy them new.

Between the incentives and depreciation rates it makes sense to buy

Trucks and muscle cars are the only things I would buy new.

v8 muscle cars and trimmed up trucks hold their value very well.

My wife bought a new Altima 2 years ago brand new.

3000 off sticker and 1.77% interest. I figured it's such a cheap car and such low interest we would be good.

2 years later and it's 4 grand upside down.

My Charger has 3 grand of equity and I have a higher interest rate, more miles and I bought 6 months later.

Never again am I buying another appliance car.

depreciation is real my guy. You never buy brand new unless you just got money to burn and it has to be brand new.

 

[DB Cooper]

Got 12 months left on my lease and I'm already at the mileage limit. Yikes. Lesson learned.

Going to start putting away a reserve each month for the excess mileage payment at the end of the lease. I'll probably buy next time only because I'm in Texas and everything is so spread out so I have to drive a ton of miles.

I was kind of in the same boat with my Lexus. They had sent me a waiver for the last 3 months of my lease and I was able to get into another new Lexus early. I had gone over 3k miles at the time I got into the new car. Of course my dumb***** didn't negotiate for them to waive the over mileage fee.

 

[oh you mad]

If you like V8 muscle cars, buy them new.

Between the incentives and depreciation rates it makes sense to buy

Trucks and muscle cars are the only things I would buy new.

As someone else said, I Japanese cars as well.


I wonder what would be a better idea between financing or leasing a GTR.



-Drew

Assuming you want a new GTR, neither unless you find a very attractive "managers lease special"

Used market is horrible on this car and you will lose 25-30K + after the first year... selling it is a pita and trade in will be below auction prices because of how hard they are to move.

Get a lightly used one if possible.

 

[$tacy]

Better roll them joints back or holla at the dude that can put the piece on there so it doesn't move

 

[supermiles]

Thank you for this thread!

 

[flyny]

I wonder what NTs favorite financial advisor, Jay Z, has to say about this

 

[pitman13]

Anyone wants to shed some light on their leasing experience?

Even though I've done extensive research on leasing, this was my first experience and it's been pretty good so far.


What vehicle do you have and what do you pay?

2017 430i xDrive Gran Coupe

View media item 2489447
I paid way less than the initial $587/month w/ a $4,500 down payment they offered lol

Do you recommend leasing?

All depends on the car you want, the pricing, incentives, & rebates. But yes, I highly recommend leasing.


How is your credit?

792.

 

[polosanddunks]

I hope you put damn near 0 down payment other then tax title and first months payment

Nice car!

 

[pitman13]

^^ That's exactly what my down payment consisted of, taxes (which is the bulk of the payment), title, and first month's payment.

And not a penny more.