Please .. this is for 07 owners only.

Are you leasing or using conventional financing?

Thanks

 

Discrimination!

 

Neither, I purchased it outright. One of the attractive things about the price point was being able to avoid any sort of car payment.

 

Dont see a reason to purchase it outright it's a depreciating asset, another factor to have in mind is value of the car if it was in any sort of accident. If you driving it to the ground then yes, not the case for me I like to switch every 2 or 3 years so I prefer Lease.

 

Leasing is fine. I decided not to finance a car and I don't intend to lease it. It is depreciating, but if you want to own it you'll get the best bang for your buck if you don't have to finance it. I could have purchased a much more expensive car that might retain it's value better, but the added cost of financing it doesn't make it a huge win for me.

 

Sorry, I guess I should have added purchase outright to the list. Maybe an admin or mod can do it?

 

I stole mine. Does that count ad financing or leasing?

 

I went in thinking I was going to lease, but ended up financing.

Here in Texas leasing is not as good an option as most other states. They charge you sales tax on the full cap-cost of the vehicle and then if you buy it at the end of the lease, you pay sales tax all over again. On 36-mo leases, that adds around $50/mo to the payment above what a lease would cost in another state. In short, I was able to buy outright for just $20/mo more than a lease with the first payment due the month after I got the car instead of starting the lease payments on day one.

I will be upside down on the equity for a year or two, but if I trade-in in 3yrs when the lease would be up, I'll get around $1500 in sales tax credit that I would have lost on the lease and I'm only paying about $100 more total during that time on monthly payments ($20/mo more less the of 1st month due up front with the lease). Plus I'll owe less on the car in 36 months than the residual value would have been and interest rates could easily be a lot higher 3 years from now.

The biggest risk I'm taking is if the value doesn't hold up and the lease residual might have been a lot higher than the actual value of the car in 3yrs and I could then walk away. However, even that would be moot if I were buying the car off lease.

/sorry for all the rambling
//could have just left a one word reply... "financing"

 

Neither.

Using my coupe's money and adding the rest.

It will be mine out the door.

 

For leasing, the rule seems to be make the lowest down payment (many posts on this). So for a G35X with prem/nav/tech (MSRP=$50,740 CDN) and 4% discount, with a $1000 down toward the car, this works out to :

3 year lease
Due on delivery: $5k CDN
Monthly payment: $848/mo CDN (tax in)
Buyback: $31k (tax in)
Total cost to own : $66k CDN

For comparison:

5 year finance
Larger Down payment, say: : $15k CDN
Monthly payments: $836 /mo CDN (tax in)
Total cost to own : $65k CDN

Cash
On the road, with tax: $57k CDN

Do these numbers sound correct?