> Glad I bought it instead of leasing! (civic)
of course, at the end of the lease you could buy the car for the
pre-determined amount if the purchase price was less than the market value,
or turn it in if it wasnt.
disclaimer: even thought ive thought alot about leases, ive paid cash for
every car ive owned. too much of a cheapskate to do anything else.
still i think leasing is good because you tie up less capital than paying
cash. too much to consider!
-james
----- Original Message -----
From: Michael R. Clements <mrclem@telocity.com>
To: James Creasy <black94pgt@pacbell.net>; Anthony Tabacco
<atabacco@california.com>; Kelly, Katie <kkelly@spss.com>
Cc: <ba-autox@autox.team.net>
Sent: Wednesday, July 11, 2001 7:34 PM
Subject: RE: Leasing Versus Buying
> My experience regarding lease vs. buy is a bit different.
>
> For example, take my '95 RX-7. Bought it new in April '96 for $39k
including
> all taxes, fees, etc. Sold it in August '00 for $25k. Paid cash so no
> interest paid. Total cost of ownership: $14k + maintenance and about $2.5k
> of high performance addons. The maintenance was purely oil changes, the
car
> had only a single minor problem and that was fixed under warranty at no
cost
> to myself.
>
> If I had leased the car, it would have cost at least $400 per month. Call
it
> only 48 months for round numbers. That's $19200.00 in payments. I'd still
> have to pay the oil changes even if I were leasing, and I still would have
> bought the extra parts, so they cancel out of the equation.
>
> When all was said and done, I saved $5000 by buying instead of leasing,
and
> this is estimate is conservatively low. Not a bad chunk of change even for
> guys who don't worry too much about money.
>
> As you can see, if the RX-7 did not hold its resale value, and I sold it
for
> $20k instead of $25k, then it would have been a break-even between leasing
&
> buying. This is what people mean when they say it's better to lease a car
> that doesn't hold its value over time.
>
> I won't even mention my Honda Civic (OK well I guess I just did), which I
> bought new for $7k back in 1990. The only unscheduled maintenance it has
> ever had was a headlight that burned out. Cost me $10. The car still runs
> like new and is about as close to free transportation as you can get. Glad
I
> bought it instead of leasing!
>
> Now I'll pass on to you the advice my Dad gave me way back when, which is
> the same advice that thousands of other Dads have given their kids, and
that
> has saved me money several times since:
>
> If you intend to keep the car for its useful life (or at least several
> years), and you expect it to be fairly reliable (or hold its resale
value),
> then buy it.
>
> If you want to drive a new set of wheels every 2-4 years, and you will be
> driving cars that you expect might not be ultra reliable, or that might
not
> hold their resale value well, then consider leasing it.
>
> The future always has a degree of uncertainty so the buy/lease decision is
> always an educated guess. My personal experience makes me lean towards
> buying unless there is a really compelling reason to lease.
>
> -----Original Message-----
> From: owner-ba-autox@autox.team.net
> [mailto:owner-ba-autox@autox.team.net]On Behalf Of James Creasy
> Sent: Wednesday, July 11, 2001 19:00
> To: Anthony Tabacco; Kelly, Katie
> Cc: ba-autox@autox.team.net
> Subject: Re: Leasing Versus Buying
>
>
> > sometimes cars that are expected to hold their value
> > well can be decent candidates for leasing.
>
> the nice thing about leases is that you know in advance exactly how
> depreciation you will paying.
>
> but buy or lease, you pay the same depreciation. more on a fast
> depreciating car, less on a slower one. typically the slower ones are
> slower depreciating in percentage, but are more in actual dollars. in a
> purchase, you can kind of hide the depreciation, but you are paying it
> none-the-less.
>
> the big disadvantage to a lease is that it is harder to get out of than a
> purchase.
>
> -james c
>
>
>
>
>
>
> ----- Original Message -----
> From: Anthony Tabacco <atabacco@california.com>
> To: Kelly, Katie <kkelly@spss.com>
> Cc: <ba-autox@autox.team.net>
> Sent: Wednesday, July 11, 2001 6:20 PM
> Subject: Re: Leasing Versus Buying
>
>
> > Katie, last time I looked, whether the 2000 will live or die in AStock
> > (they're going to rename the classes though) depends on the classing of
> the
> > Boxter S. This is still under discussion. If the BoxterS stays SS, the
Z06
> > will likely be able to edge it, if it goes to AStock, the S2000 could
have
> a
> > hard time.
> >
> > In response to the leasing question, I would note the old truism that
> there
> > are only three things that ought to be rented. Propriety (and
undoubtedly
> > diligent webmasters) would forbid their mention in a forum such as this.
> > Suffice it to say cars are not one of them. I do understand that
> dependiing
> > on market conditions, sometimes cars that are expected to hold their
value
> > well can be decent candidates for leasing.
> > Tony
> >
> > ----- Original Message -----
> > From: "Kelly, Katie" <kkelly@spss.com>
> > To: <ba-autox@autox.team.net>
> > Sent: Wednesday, July 11, 2001 5:21 PM
> > Subject: RE: Leasing Versus Buying
> >
> >
> > > A new car doesn't really make much sense. I've just been corresponding
> > with
> > > Brent at SF Honda. He threw some numbers at me. A lease almost sounds
> > > reasonable, except for one thing. I can't afford it. Not right now,
> > anyway.
> > >
> > > Any ideas as to how the Honda S2000 will fit in Solo II's new classing
> > > structure next year?
> > >
> > > Doesn't matter. It's the year FOLLOWING that I'll even be able to
think
> > > about it.
> > >
> > > In the meantime, anybody know anything about road bikes?
> > >
> > > Katie
> > >
> > > -----Original Message-----
> > > From: James Creasy [mailto:black94pgt@pacbell.net]
> > > Sent: Wednesday, July 11, 2001 5:23 PM
> > > To: Clifford Richardson; kkelly@spss.com; ba-autox@autox.team.net
> > > Subject: Re: Leasing Versus Buying
> > >
> > >
> > > if you want to drive a new car, then i see no reason not to lease,
> > > financially.
> > >
> > > new cars, leased or bought, cost you big time in the hidden specter of
> > > depreciation.
> > >
> > > > -Buy if you don't intend on paying for a car for the rest of your
life
> > >
> > > but you see, this isnt true. you pay depreciation. at least with a
> lease
> > > you can get out of it when the lease ends, or buy the car if you like
> it.
> > > (only true for closed-end leases)
> > >
> > > however, to me all new cars are pretty much the same as the next, so i
> > dont
> > > bother much with them.
> > >
> > > -james 'never bought a new car' creasy
> > >
> > >
> > >
> > > ----- Original Message -----
> > > From: Clifford Richardson <the_brain7@hotmail.com>
> > > To: <kkelly@spss.com>; <ba-autox@autox.team.net>
> > > Sent: Wednesday, July 11, 2001 4:48 PM
> > > Subject: Re: Leasing Versus Buying
> > >
> > >
> > > > Not sure how my thoughts would rate since my first autox run is yet
to
> > > come
> > > > but here goes...
> > > >
> > > > My car's leased. An advantage for me is that I don't worry too much
> > about
> > > > pushing her too hard. She's still under warranty and after I've
> whipped
> > > all
> > > > the performance out of her, I get to give her back and get a fresh
> car.
> > > The
> > > > minus is the possibility that she and I may become a perfect
> driver/car
> > > > combo after so many miles. Returning her might set me back a bit
while
> I
> > > > essentially build a whole new relationship with a new vehicle. You
> > > > know...learning how that car handles, it's moods, limits, etc...No
two
> > car
> > > > is ever the same, just like no two g/fs...um...nevermind.
> > > >
> > > > Did any of that make sense? :-) didn't think so...
> > > >
> > > > General thoughts:
> > > > -Don't use your leased car to auto-x if you're afraid of extra
charges
> > for
> > > > dings, etc...
> > > > -Lease if you don't drive long distances and you have excellent
credit
> > > > -Lease if you're loaded
> > > > -Buy if you don't intend on paying for a car for the rest of your
life
> > > > -Buy if you're gonna customize the car
> > > > -Lease if you want a brand new car every 3-5 years
> > > >
> > > > Just thoughts, I'm sure some of you may disagree.
> > > >
> > > > -Arnold
> > > >
> > > >
> > > > ----Original Message Follows----
> > > > From: "Kelly, Katie" <kkelly@spss.com>
> > > > To: "'ba-autox@autox.team.net'" <ba-autox@autox.team.net>
> > > > Subject: Leasing Versus Buying
> > > > Date: Wed, 11 Jul 2001 15:59:18 -0700
> > > > MIME-Version: 1.0
> > > > Received: from [207.173.21.42] by hotmail.com (3.2) with ESMTP id
> > > > MHotMailBD162861004540043260CFAD152A0BE50; Wed, 11 Jul 2001
> > 16:12:35 -0700
> > > > Received: (from majordom@localhost)by teamfat2.dsl.aros.net
> > > (8.11.0/8.11.0)
> > > > id f6BN8QJ04434for ba-autox-actors; Wed, 11 Jul 2001 17:08:26 -0600
> > (MDT)
> > > > Received: from hqmrelay.spss.com ([64.16.210.2]) by
> > teamfat2.dsl.aros.net
> > > > (8.11.0/8.11.0) with ESMTP id f6BN8Mx04429 for
> > <ba-autox@autox.team.net>;
> > > > Wed, 11 Jul 2001 17:08:22 -0600 (MDT)
> > > > Received: from sfemail1.spss.com ([10.10.53.4]) by hqmrelay.spss.com
> > > > (8.9.3/8.9.3) with ESMTP id SAA27604 for <ba-autox@autox.team.net>;
> > Wed,
> > > 11
> > > > Jul 2001 18:08:16 -0500 (CDT)
> > > > Received: by SFEMAIL1 with Internet Mail Service (5.5.2650.21) id
> > > > <3TQSVFRG>; Wed, 11 Jul 2001 15:59:20 -0700
> > > > From ba-autox-owner@autox.team.net Wed, 11 Jul 2001 16:13:43 -0700
> > > > Message-ID: <93456CB7A08FD211B33D00A0C99D6373701E19@SFEMAIL1>
> > > > X-Mailer: Internet Mail Service (5.5.2650.21)
> > > > Sender: owner-ba-autox@autox.team.net
> > > > Precedence: bulk
> > > >
> > > > Hey, anyone out there leasing their autocross vehicles? Can you tell
> me
> > > the
> > > > pluses and minuses?
> > > >
> > > > Thanks,
> > > > Katie K.
> > > >
> > > > _________________________________________________________________
|