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Did you just call me Coltrane? 03-03-2004 10:47 AM

Someone please tell me why I shouldn't lease
 
Depreciation depresses me and, being a young small-law guy, I don't have a whole bunch of dough stashed away for a car (especially since I'm saving for a condo).

Mmmm, Burger (C.J.) 03-03-2004 11:05 AM

Someone please tell me why I shouldn't lease
 
Quote:

Originally posted by Did you just call me Coltrane?
Depreciation depresses me and, being a young small-law guy, I don't have a whole bunch of dough stashed away for a car (especially since I'm saving for a condo).
Lack of equity at the end of the term?

Nothing wrong with leasing--it's like renting rather than owning. Well, not like, is. There are a lot of things to recommend it, not the least of which is you're basically buying a put option on your used car in 3-4 years. If you like it and took good care of it, no accidents, you can get a good deal. Put differently, if it's a piece of crap, you can sell at a price certain in three years. (By sell, I mean walk away instead of make the balloon payment).

BTW, isn't there something funny about leasing in Ill.? Like the sales tax is paid in some odd way? It may not matter, but investigate.

Did you just call me Coltrane? 03-03-2004 11:19 AM

Someone please tell me why I shouldn't lease
 
Quote:

Originally posted by Mmmm, Burger (C.J.)
Lack of equity at the end of the term?

Nothing wrong with leasing--it's like renting rather than owning. Well, not like, is. There are a lot of things to recommend it, not the least of which is you're basically buying a put option on your used car in 3-4 years. If you like it and took good care of it, no accidents, you can get a good deal. Put differently, if it's a piece of crap, you can sell at a price certain in three years. (By sell, I mean walk away instead of make the balloon payment).

BTW, isn't there something funny about leasing in Ill.? Like the sales tax is paid in some odd way? It may not matter, but investigate.
Not sure about sales tax. I'll check it out. Thanks. Another reason I might do it is b/c there is no way I will drive over 10,000 miles in any given year. I'd be lucky to go 6000.

Mmmm, Burger (C.J.) 03-03-2004 11:52 AM

Someone please tell me why I shouldn't lease
 
Quote:

Originally posted by Did you just call me Coltrane?
Another reason I might do it is b/c there is no way I will drive over 10,000 miles in any given year. I'd be lucky to go 6000.
Although then you're paying for far too many miles. For every mile under the limit you turn in the car at, you're wasting value unless you buy. If you're not putting a lot of miles on the car, you might consider the loan, because at the end of four years you'll have a car that's more valuable than what they expected for a lease-end turn in.

Did you just call me Coltrane? 03-03-2004 11:59 AM

Someone please tell me why I shouldn't lease
 
Quote:

Originally posted by Mmmm, Burger (C.J.)
Although then you're paying for far too many miles. For every mile under the limit you turn in the car at, you're wasting value unless you buy. If you're not putting a lot of miles on the car, you might consider the loan, because at the end of four years you'll have a car that's more valuable than what they expected for a lease-end turn in.
Great point. Thanks.

baltassoc 03-03-2004 12:00 PM

Someone please tell me why I shouldn't lease
 
Quote:

Originally posted by Did you just call me Coltrane?
Not sure about sales tax. I'll check it out. Thanks. Another reason I might do it is b/c there is no way I will drive over 10,000 miles in any given year. I'd be lucky to go 6000.
Some states (Texas I know, having researched it for a client, but others as well) assess sales tax on the entire amount of the car upon lease, while others assess only on the amount of the expected payments on the lease. If you have a relatively short lease, you get screwed. If you win a car lease in a sweepstakes with typical rules (taxes are the responsibility of the winner), you get screwed even worse.

Alex_de_Large 03-10-2004 10:06 PM

2005 Chrysler 300C
 
Looks pretty good.

http://a332.g.akamai.net/f/332/936/1...0c.f34.500.jpg

Read more about it here.

Mmmm, Burger (C.J.) 03-11-2004 03:30 PM

2005 Chrysler 300C
 
Quote:

Originally posted by Alex_de_Large
Looks pretty good.

Does it come with a burger maker?

'cuz it's already got the fry maker:

http://images.amazon.com/images/P/B0...1.LZZZZZZZ.jpg

robustpuppy 03-11-2004 03:31 PM

2005 Chrysler 300C
 
Quote:

Originally posted by Mmmm, Burger (C.J.)
Does it come with a burger maker?

'cuz it's already got the fry maker:
Please, no more talk about fattening foods!

Dave 03-11-2004 10:16 PM

2005 Chrysler 300C
 
Quote:

Originally posted by Mmmm, Burger (C.J.)
Does it come with a burger maker?
That's what the engine is for, see. You just take some aluminium foil, see. And you wrap your burger in it, see. You put it on the engine, see. And you go for a long, long drive, see. And there you have it folks, burger a la 300C.

Sorry RP. Say, does that thing got a Hemi?

ltl/fb 03-11-2004 10:29 PM

2005 Chrysler 300C
 
Quote:

Originally posted by robustpuppy
Please, no more talk about fattening foods!
Just look at his huge fat belly. God, it's disgusting. Has he no self-control?

pony_trekker 03-11-2004 11:52 PM

Someone please tell me why I shouldn't lease
 
Quote:

Originally posted by Did you just call me Coltrane?
Not sure about sales tax. I'll check it out. Thanks. Another reason I might do it is b/c there is no way I will drive over 10,000 miles in any given year. I'd be lucky to go 6000.
You'll be the beneficiary there: I don't know if you can lease w under 10k miles but assume you do 10k miles per year and the buyout after 3 years 30k miles is $20k, if you have a car with 18k miles it will be worth $24k for which you will have the option to buy at $20k.

Tyrone Slothrop 03-12-2004 02:20 AM

Do I want all-wheel drive? If so, why?

Atticus Grinch 03-12-2004 03:06 AM

Someone please tell me why I shouldn't lease
 
Quote:

Originally posted by pony_trekker
You'll be the beneficiary there: I don't know if you can lease w under 10k miles but assume you do 10k miles per year and the buyout after 3 years 30k miles is $20k, if you have a car with 18k miles it will be worth $24k for which you will have the option to buy at $20k.
Nah, it's a wash at best, because in the meantime he would have been paying for depreciation + interest on a car the bank assumed would depreciate from X to $20K. If he buys at $20K when it's worth $24K at lease end, he's already spread X minus $20K over the lease term with financing, yes? So that particular element is a wash between leasing and buying, with the nose to buying because if he gives the car back (which would be stupid, of course; see below) he's giving the additional value to the bank.

However, he will benefit from having an option at $20K if due to market forces not accounted for in the mathematics of the lease the car turns out to be worth $21K in an arm's length transaction. He can even exercise the option and sell for profit, or even more profit because the bank wants to avoid retaking possession and is very willing to negotiate the buyback price below the price stated in the lease at lease end.

ltl/fb 03-12-2004 03:39 AM

2005 Chrysler 300C
 
Quote:

Originally posted by Alex_de_Large
Looks pretty good.

http://a332.g.akamai.net/f/332/936/1...0c.f34.500.jpg

Read more about it here.
I think the huge grill on the front is quite unattractive, but based on the review other than that it doesn't sound too bad to me, which is surprising.


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