Again, lease only makes sense if you drive mileage "just about" what is in the contract.
There are situations when leasing makes sense....I was talking about this with my wife this morning.
I was driving a 1992 Cavalier. It was 1995 and I lost my job and was collecting unemployment insurance. I wanted to start my business, buying overstock books and delivering them to stores. I leased a 1995 Jeep for 30 months (remember the good old days when they did that) for $320 a month.
My income was such that I could make payments to run the Jeep, just barely. But, I wouldn't have grown the business or made it succeed if I hadn't had that Jeep. I couldn't afford to buy it, but I needed it.
The point is, there are certain situations where leasing is definitely worth considering. Not for most of us, but, there are unique situations where it is better to rent your vehicle and pay for the time you use it, and then just hand it back in. The sameas renting a home may be better for some people, as opposed to owning.
if *driver is able to lease through his company, then leasing might be the way to go for him.
That would be hard to do. A Canadian company leasing a car for me in Florida.
I could do it but I would have to find a business use for the car in Florida, and then I would have to WORK to justify the car.
It is done though. One large Canadian drug store chain openned stores in Florida, I am sure it was done so the owners could write off their winter vacations to Florida.
But, sometimes it is just easier and less to keep track of to lease a car under a company name, if it really is being used for business. Helps cash flow, instead of buying the car outright.
Driver, I've been hearing this problem for weeks. It all boils down to your wife wanting a car to drive for the Fla time. The only answer is for you both to drive your respective cars down and back (or drive 1 and ship 1). You'll both have exactly what you are used to driving and not a lot of hassle with buying/leasing/storing/insuring and all the other added expenses of an extra car. Heck, you're already paying maintenance and insurance on both.
that doesn't help with when they fly down for a shorter visit though.
Me, I would be reluctant to leave a car just sitting in the garage months at a time. I would likely find a rental operation that had good deals on longer term rentals, and get something when I was down. Financially that probably comes out better, and you just have to live with having a slushbox in Florida!
One large Canadian drug store chain openned stores in Florida, I am sure it was done so the owners could write off their winter vacations to Florida.
I doubt that someone who owns a “drug store chain” would go through that much work just to save a few bucks on their “vacations to Florida”. I say they did it to make money. Being able to then write off expenses is just a nice collateral benefit.
If I’m wrong you should start peddling books in Tampa to write off your place in Florida. You don’t have to do it yourself of course, hire a schlepper and rent him a Jeep to get it started.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
The only answer is for you both to drive your respective cars down and back (or drive 1 and ship 1). I am going to answer the 4 posts from 80523 in one post.
23 Mako..Stickguy is right, sometimes we want to fly down, so we need a car to be there. We could drive down seperately but that's not much fun, and the same problem...no car there if we fly.
24 Fezo That would be too simple....... Maybe you could drive one of the cars down for us. Do you want to drive the 535 or the newer A4?
25 Stick Me, I would be reluctant to leave a car just sitting in the garage months at a time. Good point! But, my BIL leaves a car down there and no problem, he unhooks the battery. It's not the best for a car, but it seems to be OK. Once my BILs Impala had flat spots on the tires when he came down. He got new much better tires and it isn't a problem.
26 JMonroe I say they did it to make money. Being able to then write off expenses is just a nice collateral benefit. Exactly. They are successful in Canada with over 1000 stores, and have taken their format to Florida. The main purpose is to make money, but, this way they can vacation in Florida and get some tax benefits. I could have a book route and oput books in the stores in the Tampa area...I think it would work, but to do that I would probably need a green card and I would have to file income tax etc. Kind of defeats the reason we are going there in the first place.
Thanks for the comments, everything always helps to make the best decision possible....lots of good thoughts and ideas.
Want to thank-you. I just saved myself $233 on my upcoming 6 month insurance policy. I've been with GEICO forever. I never thought to switch until I read your post about a month or so ago. I got something in the mail from Liberty Mutual saying they can get me a good rate due to my BMWCCA membership. I call them for a quote, they only write 1 year policies. Their 1 year is cheaper than GEICO. This morning I called ALLSTATE. Their quote was cheaper than GEICO & LIBERTY MUTUAL. So for the next 6 months, I'm "in good hands" & "protected from mayhem."
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD
I always review my insurance policies and premiums prior to the expiration date in any given year. I was not able to retain Allstate, but with Liberty Mutual, they saved me over $600 a year. Down here in Florida, rates are much higher than in most places in the country. I would imagine in New York, rates are also high!
We must carry personal injury protection (PIP) which is required by state statute. That's what causes our rates to be so high.
Everyone should automatically review their policy every renewal cycle.
Auto Insurance Rates in NY are extremely high. When I moved to Connecticut 2 years ago, my insurance dropped significantly. Nothing in life is free as they say. Any savings in auto insurance went right to The City of Stamford as we have to pay a Personal Property Tax on our vehicles.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD
The worst thing that can happen with long term storage is what happened decades ago to my brother. He went off on sabbatical for six months. When he got back he started up the car and the engine seized because all the oil had dripped off. End of the car. Do not attempt at home.....
2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
There's a guy on the Passat leasing site that came up with this question for Car Man who seems to know everything you could know about leasing Passats.
2012 passat se w/ sunroof/nav by chevychase1 Jun 23, 2012 (7:25 pm) CARMAN - please help!
12k miles, 36 months
MSRP: $27,835.00 SELLING PRICE: $22778 TAXES + FEES: $2068 ADJUSTED CAP COST: $24,846 MONEY FACTOR: .00007 X 2400 = .178% RESIDUAL: $14,753 (53%) -dealer asking for $1999 down, and monthly payment $225/month
Wow, that sounds like a great deal to me. Even if I paid all the lease money up front $2k down plus $2800 a year...one check for about $11000! Option to buy for $14753!
Another thing about leasing, at least here, if you are only keeping the car for 3 years, you only pay tax on the portion of the car time you use.
He didn't mean the oil leaked out. He meant it drained back into the oil pan from the cylinders and pistons, rockers, valve guides, etc causing a metal to metal contact inside the engine. A few seconds of that and the engine is shot.
Lemme guess...you've never seen the inside of an engine or a diagram of the all important oiling system.
Lemme guess...you've never seen the inside of an engine or a diagram of the all important oiling system.
I have trouble locating the dipstick.
I had no idea that is what he meant, and I probably wouldn't have understood what can happen if I did know what he was explaining.
Should I be concerned though....I mean how often does that happen, especially on a newer car.
I just drive 'em, I am not that knowledgeable about fixin them or knowing how everything operates....that's why I try to stick with newer cars and like to have them under warranty.
btw....what's up with the Mustang, have you tried to find the top speed?
Driver, todays oils have more stay on the metal properties. But any car left for a long time without running could lose surface protection. STP used to brag about how it maintained lubrication properties for extended periods of time.
what's up with the Mustang, have you tried to find the top speed?
I have tried the "sport mode" a couple times. That's where the revs go up and you shift with the button on the shifter up or down. Or it auto shifts when the revs get near the red line. It all works fine. Only used it for a short time twice.
I did go into triple digits a couple of times on an open road and only for a few miles. It gets there pretty quick. I don't need any more power. I'm too old (62 in July) to lose my common sense or my drivers license.
If I were chevychase1, I'd take it, just roll everything but security deposit (if applicable) and first payment. If I were you, I'd also ask tol roll this things in AND decrease mileage to something like 8K/year.
My understanding is leases in Florida are actually taxed ongoing, i.e. each payment is taxed at time of collection, just like rental would be. Tax is on both depreciation and finance charge. I'm not 100% certain, Mike should know it.
But any car left for a long time without running could lose surface protection.
Ah, so it is the coating of oil on the metal parts that could be the problem...not an actual leak.
I don't know too many people who let there car sit for 8 or 9 months, but I have never heard of that actually happening. Maybe with some of todays oil and especially with synthetic oil that won't be a problem.
What I am really hoping though is for my very nice neighbor to take the car out for a spin once a month or so.
I know what you mean about speed and age. I have more horsepower than I have ever had, and less urge to use it than I have ever had. Especially since my speeding ticket returning from Florida. I think just knowing what the car can do is enough for me.....I got nothing to prove. The horses sometimes come in handy though to merge into traffic or to get up to speed, and things like that.
*dino, you are partially correct. Tax is paid on the out of pocket monies paid - inceptions, fees, etc., and on the monthly payment each and every month.
But, you are not paying tax on the depreciation, just the total amount of payment, divided by the total months the lease is contracted for LESS one month since you always pay the first month up front. You are taxed the sales tax rate in the county the car is registered.
As an exampe, 36 month lease at 220 a month + applicable sales tax, less first month's payment.
Here in Broward County, the county tax rate is 6%. In Miami-Dade County, it is 7%. In Palm Beach County it is 6.5%.
As for depreciation, the residual takes into consideration depreciation over the 3 year term of the lease.
One thing that must be remembered is that the residual is based upon a "guess" as to what the market will bear for a used car. Often, that amount is incorrect. Take for example the years during the economic disaster - residuals were way too high because the markets fell abnormally. So, who would buy a used car coming off least for 2000 more than it was worth? So *driver's assumption that the Passat would be worth 14,000 or so dollars at the end of the lease could be incorrect. Remember, *driver said he was getting a Passat with stick and almost nothing else. That makes the car more difficult to sell because of lack of equipment and automatic transmission. So, just remember, residuals are not always on target, usually abnormally high in today's markets.
If I were you, I'd also ask tol roll this things in AND decrease mileage to something like 8K/year
Yeh, chevy has a really good lease deal going there. That is an interesting idea, see what a lease would cost if I capped out at 4k miles a year. Even that might be high, we will use the car a maximum of 3 months and most of that time it will be a 2nd car.
The more I think about it though, I am sure it will be impossible for a visitor to lease a car.
I just checked Expedia and a rental car for 1 month in Florida...Nov 4 to Dec 3 would cost about $1400. The leased car will cost the initial $2000, but then will cost $2700 a year in payments. Renting for 3 months will cost $4200, leasing the first year will cost $4700, but then $2700 a year after that! Rental payments will probably go up over the years.
Just for fun I did a 4 month rental from Nov to the end of Feb and it would be $4000 to rent!
I love the idea that we could pay $2000 down and $225 a month to drive a new car, but I don't think it will work. Maybe someone could co-sign for us?
ah, so it is the coating of oil on the metal parts....
*driver, if you are going to store a car for more than 3 months, from my understanding, it is a good idea to drain all the oil out of the engine as well as disconnecting the battery, and replace the oil you took out of the engine with another type of oil - but I don't remember all the details. I'm sure one of our mechanic posters here can give you more specifics.
The very best of all worlds regarding storage of a vehicle is to have someone start the engine - not necessary to drive it - and let it run for 5 minutes. If this is done once a week or once every other week, there should be no problem.
i have more horsepower than I have every had...
I feel the same way as you do, *driver. I have 306 horsepower which I probably will never use. But, when getting on the Turnpike or I-95 or I-75 from the ramp, more horsepower is better than less horsepower to get up to speed for merging. And, for some reason, even though the Lexus has only 4 horsepower more than the Mercedes had, this car seems to react much quicker to throttle kick-down and get's up to speed more quickly. Don't know why, but it just does. Might have something to do with the torque, but the torque in both cars is almost exactly the same, as is the 0-60 time - 5.8 seconds, I believe.
Having sufficient horsepower is also important when doing 60 mph and the need arises to get to 70 or 80 quickly in an emergency. The Lexus seems to have more guts to it than did the Mercedes.
So I was close, it's just a little more subtle. An oddball car is always a bit harder to sell, of course, when you ttry to buy one from a dealer he tells you it's a rare jewel, so he deserves a big premium In that context, lease could be a good option. Leases' appeal is exactly transfer of economic uncertainty of the depreciation to another party. However, very low anticipated mileage is still a problem. If you could get some ridiculously low mileage lease, like 5-8K per year, it could be a solution. With such a low mileage, even a one-time payment lease may work, if they still offer those.
Passat would be worth 14,000 or so dollars at the end of the lease could be incorrect. Remember, *driver said he was getting a Passat with stick and almost nothing else.
Two points; 1) Some people, who only need a car for 3 years, could benefit from the fact they are only paying tax on the actual useage of the car. On the Passat for example, you may save about 6% on the $14000 risidual amount, which could be $840.....just good in certain situations.
2)The $14000 residual probably takes into account that a manual is worth less. But, if I wanted to buy that car back after 3 years, I would be happy to get a 3 year old car with about 8000 miles on it for $14000. Not only that, but, there might just be enough quirky people out there who would love to get a used manual shifter, in good shape.
Just another unknown, the economy may be boooming in 3 years, or the country might be printing money to cause inflation, so that $14000 locked in price may actually be a bit of security if prices rise.
With such a low mileage, even a one-time payment lease may work, if they still offer those.
There are some reasons why I think that is a good plan, if they allowed it. And they should, because basically they are covered...unless we snuck the car back into Canada I suppose.
Peace of mind means something. With a lease, even a one time payment lease, it gives me the option of turning the car in after 3 years or buying it back....depending on circumstances at that time.
The big drawback, and a reason I wouldn't do it...if for some reason, we can't go to Florida, say for health reasons, it would probably be difficult to get out of the lease or to sell the car....that could get complicated. At least if you own it, you can sell it when you want to sell it.
People have done a nice job describing what I was trying to say. Indeed no leaks. It, too was in a garage. All the oil - every drop of it - was sitting down there in the oil pan. My brother's FIL was the service manager of a Chevy dealership and told him the car would be fine for six months. Oh, well.
This was a 77 Nova with a flathead 6.
I always recommend starting the car - and maybe a short drive if doable every few weeks to keep things OK.
No, I'm not driving down from Jersey to start your car every few weeks.
2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
I was expecting you to offer to move into the condo to take care of that and the car for a few years if they weren't going to be able to make it down anymore.
Going back to chevychases possible lease deal....$225 a month with $2000 down.
One poster said, why not find out what it would cost with $0 down, it may raise monthly to $275 a month.
From a common sense point of view, that is probably the smarter thing to do, if you are leasing you should try to do it for $0 down to get maximum benefit of the lease.
I am overly cautious though. For me, I would rather throw in the $2000 and reduce my monthly payment, just in case I was stretched at some point. It sounds good to me, $225 a month, then even if I lost my job I could work at McDonalds and still keep up the payments.
It's smarter to put as little money down if leasing, especially if you are claiming the car as an expense on taxes, though you could probably calculate the down payment into the lease amount. Some people might be able to sleep better knowing they owe $225 at the end of the month instead of $275.....and the $2000 is like forced savings.
I look at it the opposite way. Put the least money possible into a lease.
first of all, if worried, put the 2K in the bank as a cushion. pay me now, pay me later!
and the big reason to put nothing into the lease? If it gets totalled, you won't be out as much. Even with GAP insurance to cover any shortfall, that money you put in is going to be gone (you would pay it instead of the insurance company).
bottom line, if "renting", I am putting nothing into the deal. And if I have to fork over much cash, I want to own what I am putting it into!
I'm with you - one of lease advantages that many people do not seem to understand is depreciation risk transfer, including early total loss. Considering that leases have now GAP insurance included as standard, there is absolutely no financial reason (ZERO) to put anything down other than first payment and security deposit, if required to get lowest money factor. $50/month payment "savings" due to a downpayment is a great deal, but to the bank, not to the lessee. It is basically unrecoverable money facilitating risk transfer from the bank back to the lessee. This is also why banks (manufacturers) love to promote leases with large amounts down - it not only lowers the payments (which of course makes the deal look better), but also lowers their risk in case of early total - basically defeating one of major lease advantages.
I know what you mean about speed and age. I have more horsepower than I have ever had, and less urge to use it than I have ever had. Especially since my speeding ticket returning from Florida. I think just knowing what the car can do is enough for me.....I got nothing to prove. The horses sometimes come in handy though to merge into traffic or to get up to speed, and things like that.
That’s pretty much the way I am with wanting HP. That’s why I got the Genny V8. I know it’s there when I want/need it. I drive the PA Pike everyday for about 40 miles round trip; plenty of trucks at times. When I want to get around them I want to do it on my terms. I don’t want to think that I have to get a running start. It’s been working pretty well so far.
I got a chuckle from a fellow worker about a month or so after I got the Genny when he wanted to know how many horses it had. I told him I did have time to count all of them but I know they’re under the hood somewhere because when I throw some hay at them they wake up.
The book says 368 HP with regular and 375 with premium. I believe them.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
How come Fezo gets to have all the fun? I could meet you at the Buffalo airport where you get those bargain flights and pick it up. In a month or two it would be right at your front door down there in sunny Florida.
Of course you would have to give me a ride over to Largo after supper.
BTW, have you checked to see if your Florida house is still there? TS Debbie is dumping 6+ inches of rain on the Tampa area. :surprise:
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
The very best of all worlds regarding storage of a vehicle is to have someone start the engine - not necessary to drive it - and let it run for 5 minutes. If this is done once a week or once every other week, there should be no problem.
That is a big fallacy that has been around for years. Just starting an oil lubricated internal combustion engine for a few minutes is OK and is better than nothing but the real way to do it is to drive the car for at least 10 minutes at least once a month. This gets the engine/transmission up to operating temp and lets the fluids slosh around under normal load conditions. Doing this will cook out most of the harmful moisture that has build up from sitting and what is introduced from the starting process. This is the main reason why manufactures have the qualifier about changing oil more often when doing short trip driving vs. open road driving when the car is at the desired operating temp for almost all of its road time.
The oils today are much better than years ago but you still have to be concerned with moisture. As an old lubrication engineer once told me, “once you start an oil lubricated internal combustion engine, the clock starts and you can’t shut it off without a LOT of storage conditions. The military knows all about this and that’s why they can take their vehicles out of storage and have almost no problems. The guy next door that wants to take his play car off the road for the winter is usually not going to go through all of that”.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
"...I would imagine in New York rates are also high..."
Depends on which part of the state. In the city I understand they are pretty bad but here in upstate Haggarity quoted me $188/year for liability and collision on a one year policy on the Vette 300/500 limit.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
"...a few seconds of that and the engine is shot..."
I have to admit, that's a new one on me. I thought every time you parked a car for more than a few hours you basically had a dry start, particularly with thinner synthetics. Would the few seconds it takes for the oil to circulate really trash the engine?
How would you ever start a car that's been stored for the winter without elaborate preparations?
I'd like to hear more on this.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
"...drive the car at least 10 minutes at least once a month..."
That's kind of what I do with the car I store for the winter only instead of driving it (not possible) I let it idle until it reaches full operating temp.
I also crank it a couple of time without letting it start to pump the oil up a little.
I sure hope I'm not doing any damage doing it like that.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Yep. You can indeed kill an engine that way. Not terribly likely (remember Woody Allen's 200 year old Volkswagen in Sleeper) but it happens.
I'd go with jmonroe's advice - get someone to drive it around long enough to get everything warmed up every so often. I've got a friend in Tampa. He's like a manager in IT so his hourly rate might not be cheap....
2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
How come Fezo gets to have all the fun? I could meet you at the Buffalo airport where you get those bargain flights and pick it up.
Hey, I like this deal better than the fezo deal. We drive the car to Buffalo, get on a plane....and you drive the car down. I am not sure why it will take a month or two, but other than that it sounds like a good plan.
Once you get to Florida we drop you off in Largo....that's a good plan. The capitalist system is working..........
Yeh, I saw that Debbie dumping rain on Tampa. We are inland so maybe not as bad. Our neighbors there will tell us if there is a problem....right now, no news is good news.
Around these parts we run into challenges storing marine engines during the long winter season (generally October through April). My personal plan includes placing the battery on an electrical tender, draining the block of cooling water as best as possible, stabilizing the fuel, running the stabilized fuel through the injection system for 10 minutes, injecting engine fogger through the air intake system for a minute while the engine idles, and lastly pulling each plug and dousing the cylinder in additional fogger. No problems to date after such preventative maintenance. Oil gets changed at the start of the season just in case condensation builds up during storage.
I'm not an engine builder, but I have helped some friends that were. I was the plastigage smasher (determines a main/con rod bearing size/diameter) and crankshaft/camshaft installer/helper. They ran the business, I was having fun/learning.
Anyhoo, these guys always used an electric drill to turn the oil pump before hitting the starter to run the engine. This has to be done even on well lubricated freshly installed parts after rebuilding an engine so it sure tells me the importance of lubrication from the get go or after a long shut down. Ask any engine rebuilder.
It's been raining heavily here since yesterday morning due to Debbie's cyclonic flow of moisture across southern Florida. We've had over 4" so far with lots more expected. No wind or tornadoes, just heavy rain with thunder and lightning. Most of the winds are north of us near Sarasota and Clearwater, which includes Tampa area.
This Debbie never did Dallas - she did Tampa. *stickguy, you've been working so diligently on street ready vehicles that you got your mind in the "gutter!"
Comments
There are situations when leasing makes sense....I was talking about this with my wife this morning.
I was driving a 1992 Cavalier. It was 1995 and I lost my job and was collecting unemployment insurance. I wanted to start my business, buying overstock books and delivering them to stores. I leased a 1995 Jeep for 30 months (remember the good old days when they did that) for $320 a month.
My income was such that I could make payments to run the Jeep, just barely. But, I wouldn't have grown the business or made it succeed if I hadn't had that Jeep. I couldn't afford to buy it, but I needed it.
The point is, there are certain situations where leasing is definitely worth considering. Not for most of us, but, there are unique situations where it is better to rent your vehicle and pay for the time you use it, and then just hand it back in. The sameas renting a home may be better for some people, as opposed to owning.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Yes, I totally agree with everything you said!
On the other hand, if *driver is able to lease through his company, then leasing might be the way to go for him.
2024 Genesis G90 Super-Charger
That would be hard to do. A Canadian company leasing a car for me in Florida.
I could do it but I would have to find a business use for the car in Florida, and then I would have to WORK to justify the car.
It is done though. One large Canadian drug store chain openned stores in Florida, I am sure it was done so the owners could write off their winter vacations to Florida.
But, sometimes it is just easier and less to keep track of to lease a car under a company name, if it really is being used for business. Helps cash flow, instead of buying the car outright.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
You'll both have exactly what you are used to driving and not a lot of hassle with buying/leasing/storing/insuring and all the other added expenses of an extra car. Heck, you're already paying maintenance and insurance on both.
2013 Mustang GT, 2001 GMC Yukon Denali
Me, I would be reluctant to leave a car just sitting in the garage months at a time. I would likely find a rental operation that had good deals on longer term rentals, and get something when I was down. Financially that probably comes out better, and you just have to live with having a slushbox in Florida!
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
I doubt that someone who owns a “drug store chain” would go through that much work just to save a few bucks on their “vacations to Florida”. I say they did it to make money. Being able to then write off expenses is just a nice collateral benefit.
If I’m wrong you should start peddling books in Tampa to write off your place in Florida. You don’t have to do it yourself of course, hire a schlepper and rent him a Jeep to get it started.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
I am going to answer the 4 posts from 80523 in one post.
23 Mako..Stickguy is right, sometimes we want to fly down, so we need a car to be there. We could drive down seperately but that's not much fun, and the same problem...no car there if we fly.
24 Fezo That would be too simple....... Maybe you could drive one of the cars down for us. Do you want to drive the 535 or the newer A4?
25 Stick Me, I would be reluctant to leave a car just sitting in the garage months at a time. Good point! But, my BIL leaves a car down there and no problem, he unhooks the battery. It's not the best for a car, but it seems to be OK. Once my BILs Impala had flat spots on the tires when he came down. He got new much better tires and it isn't a problem.
26 JMonroe I say they did it to make money. Being able to then write off expenses is just a nice collateral benefit. Exactly. They are successful in Canada with over 1000 stores, and have taken their format to Florida. The main purpose is to make money, but, this way they can vacation in Florida and get some tax benefits. I could have a book route and oput books in the stores in the Tampa area...I think it would work, but to do that I would probably need a green card and I would have to file income tax etc. Kind of defeats the reason we are going there in the first place.
Thanks for the comments, everything always helps to make the best decision possible....lots of good thoughts and ideas.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD
I always review my insurance policies and premiums prior to the expiration date in any given year. I was not able to retain Allstate, but with Liberty Mutual, they saved me over $600 a year. Down here in Florida, rates are much higher than in most places in the country. I would imagine in New York, rates are also high!
We must carry personal injury protection (PIP) which is required by state statute. That's what causes our rates to be so high.
Everyone should automatically review their policy every renewal cycle.
2024 Genesis G90 Super-Charger
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD
The worst thing that can happen with long term storage is what happened decades ago to my brother. He went off on sabbatical for six months. When he got back he started up the car and the engine seized because all the oil had dripped off. End of the car. Do not attempt at home.....
The car will be parked in a garage, so if the oil leaks out, we should be able to know about it.
But, that is one reason we want a new car.....that kind of thing shouldn't happen.
I'll be happy to take either one down!
We will think about that one.........................for about .24 of a second
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
2012 passat se w/ sunroof/nav by chevychase1 Jun 23, 2012 (7:25 pm)
CARMAN - please help!
12k miles, 36 months
MSRP: $27,835.00
SELLING PRICE: $22778
TAXES + FEES: $2068
ADJUSTED CAP COST: $24,846
MONEY FACTOR: .00007 X 2400 = .178%
RESIDUAL: $14,753 (53%)
-dealer asking for $1999 down, and monthly payment $225/month
Wow, that sounds like a great deal to me. Even if I paid all the lease money up front $2k down plus $2800 a year...one check for about $11000! Option to buy for $14753!
Another thing about leasing, at least here, if you are only keeping the car for 3 years, you only pay tax on the portion of the car time you use.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Lemme guess...you've never seen the inside of an engine or a diagram of the all important oiling system.
2013 Mustang GT, 2001 GMC Yukon Denali
I have trouble locating the dipstick.
I had no idea that is what he meant, and I probably wouldn't have understood what can happen if I did know what he was explaining.
Should I be concerned though....I mean how often does that happen, especially on a newer car.
I just drive 'em, I am not that knowledgeable about fixin them or knowing how everything operates....that's why I try to stick with newer cars and like to have them under warranty.
btw....what's up with the Mustang, have you tried to find the top speed?
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
what's up with the Mustang, have you tried to find the top speed?
I have tried the "sport mode" a couple times. That's where the revs go up and you shift with the button on the shifter up or down. Or it auto shifts when the revs get near the red line. It all works fine. Only used it for a short time twice.
I did go into triple digits a couple of times on an open road and only for a few miles. It gets there pretty quick. I don't need any more power. I'm too old (62 in July) to lose my common sense or my drivers license.
2013 Mustang GT, 2001 GMC Yukon Denali
My understanding is leases in Florida are actually taxed ongoing, i.e. each payment is taxed at time of collection, just like rental would be. Tax is on both depreciation and finance charge. I'm not 100% certain, Mike should know it.
2018 430i Gran Coupe
Ah, so it is the coating of oil on the metal parts that could be the problem...not an actual leak.
I don't know too many people who let there car sit for 8 or 9 months, but I have never heard of that actually happening. Maybe with some of todays oil and especially with synthetic oil that won't be a problem.
What I am really hoping though is for my very nice neighbor to take the car out for a spin once a month or so.
I know what you mean about speed and age. I have more horsepower than I have ever had, and less urge to use it than I have ever had. Especially since my speeding ticket returning from Florida. I think just knowing what the car can do is enough for me.....I got nothing to prove.
The horses sometimes come in handy though to merge into traffic or to get up to speed, and things like that.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
*dino, you are partially correct. Tax is paid on the out of pocket monies paid - inceptions, fees, etc., and on the monthly payment each and every month.
But, you are not paying tax on the depreciation, just the total amount of payment, divided by the total months the lease is contracted for LESS one month since you always pay the first month up front. You are taxed the sales tax rate in the county the car is registered.
As an exampe, 36 month lease at 220 a month + applicable sales tax, less first month's payment.
Here in Broward County, the county tax rate is 6%. In Miami-Dade County, it is 7%. In Palm Beach County it is 6.5%.
As for depreciation, the residual takes into consideration depreciation over the 3 year term of the lease.
One thing that must be remembered is that the residual is based upon a "guess" as to what the market will bear for a used car. Often, that amount is incorrect. Take for example the years during the economic disaster - residuals were way too high because the markets fell abnormally. So, who would buy a used car coming off least for 2000 more than it was worth? So *driver's assumption that the Passat would be worth 14,000 or so dollars at the end of the lease could be incorrect. Remember, *driver said he was getting a Passat with stick and almost nothing else. That makes the car more difficult to sell because of lack of equipment and automatic transmission. So, just remember, residuals are not always on target, usually abnormally high in today's markets.
2024 Genesis G90 Super-Charger
Yeh, chevy has a really good lease deal going there. That is an interesting idea, see what a lease would cost if I capped out at 4k miles a year. Even that might be high, we will use the car a maximum of 3 months and most of that time it will be a 2nd car.
The more I think about it though, I am sure it will be impossible for a visitor to lease a car.
I just checked Expedia and a rental car for 1 month in Florida...Nov 4 to Dec 3 would cost about $1400. The leased car will cost the initial $2000, but then will cost $2700 a year in payments. Renting for 3 months will cost $4200, leasing the first year will cost $4700, but then $2700 a year after that! Rental payments will probably go up over the years.
Just for fun I did a 4 month rental from Nov to the end of Feb and it would be $4000 to rent!
I love the idea that we could pay $2000 down and $225 a month to drive a new car, but I don't think it will work. Maybe someone could co-sign for us?
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
*driver, if you are going to store a car for more than 3 months, from my understanding, it is a good idea to drain all the oil out of the engine as well as disconnecting the battery, and replace the oil you took out of the engine with another type of oil - but I don't remember all the details. I'm sure one of our mechanic posters here can give you more specifics.
The very best of all worlds regarding storage of a vehicle is to have someone start the engine - not necessary to drive it - and let it run for 5 minutes. If this is done once a week or once every other week, there should be no problem.
i have more horsepower than I have every had...
I feel the same way as you do, *driver. I have 306 horsepower which I probably will never use. But, when getting on the Turnpike or I-95 or I-75 from the ramp, more horsepower is better than less horsepower to get up to speed for merging. And, for some reason, even though the Lexus has only 4 horsepower more than the Mercedes had, this car seems to react much quicker to throttle kick-down and get's up to speed more quickly. Don't know why, but it just does. Might have something to do with the torque, but the torque in both cars is almost exactly the same, as is the 0-60 time - 5.8 seconds, I believe.
Having sufficient horsepower is also important when doing 60 mph and the need arises to get to 70 or 80 quickly in an emergency. The Lexus seems to have more guts to it than did the Mercedes.
2024 Genesis G90 Super-Charger
2018 430i Gran Coupe
Two points;
1) Some people, who only need a car for 3 years, could benefit from the fact they are only paying tax on the actual useage of the car. On the Passat for example, you may save about 6% on the $14000 risidual amount, which could be $840.....just good in certain situations.
2)The $14000 residual probably takes into account that a manual is worth less. But, if I wanted to buy that car back after 3 years, I would be happy to get a 3 year old car with about 8000 miles on it for $14000. Not only that, but, there might just be enough quirky people out there who would love to get a used manual shifter, in good shape.
Just another unknown, the economy may be boooming in 3 years, or the country might be printing money to cause inflation, so that $14000 locked in price may actually be a bit of security if prices rise.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
There are some reasons why I think that is a good plan, if they allowed it. And they should, because basically they are covered...unless we snuck the car back into Canada I suppose.
Peace of mind means something. With a lease, even a one time payment lease, it gives me the option of turning the car in after 3 years or buying it back....depending on circumstances at that time.
The big drawback, and a reason I wouldn't do it...if for some reason, we can't go to Florida, say for health reasons, it would probably be difficult to get out of the lease or to sell the car....that could get complicated. At least if you own it, you can sell it when you want to sell it.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
At least I'm not old like Dave. I won't be 62 until January....
This was a 77 Nova with a flathead 6.
I always recommend starting the car - and maybe a short drive if doable every few weeks to keep things OK.
No, I'm not driving down from Jersey to start your car every few weeks.
What kind of friend are you?
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Yeh, I might even have left him a slightly used Passat with only a few lease payments left to make.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
One poster said, why not find out what it would cost with $0 down, it may raise monthly to $275 a month.
From a common sense point of view, that is probably the smarter thing to do, if you are leasing you should try to do it for $0 down to get maximum benefit of the lease.
I am overly cautious though. For me, I would rather throw in the $2000 and reduce my monthly payment, just in case I was stretched at some point. It sounds good to me, $225 a month, then even if I lost my job I could work at McDonalds and still keep up the payments.
It's smarter to put as little money down if leasing, especially if you are claiming the car as an expense on taxes, though you could probably calculate the down payment into the lease amount. Some people might be able to sleep better knowing they owe $225 at the end of the month instead of $275.....and the $2000 is like forced savings.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
first of all, if worried, put the 2K in the bank as a cushion. pay me now, pay me later!
and the big reason to put nothing into the lease? If it gets totalled, you won't be out as much. Even with GAP insurance to cover any shortfall, that money you put in is going to be gone (you would pay it instead of the insurance company).
bottom line, if "renting", I am putting nothing into the deal. And if I have to fork over much cash, I want to own what I am putting it into!
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Of course not.
They should fly you down to drive the car for a little while to keep it operating nicely.
2014 Malibu 2LT, 2015 Cruze 2LT,
2018 430i Gran Coupe
The horses sometimes come in handy though to merge into traffic or to get up to speed, and things like that.
That’s pretty much the way I am with wanting HP. That’s why I got the Genny V8. I know it’s there when I want/need it. I drive the PA Pike everyday for about 40 miles round trip; plenty of trucks at times. When I want to get around them I want to do it on my terms. I don’t want to think that I have to get a running start. It’s been working pretty well so far.
I got a chuckle from a fellow worker about a month or so after I got the Genny when he wanted to know how many horses it had. I told him I did have time to count all of them but I know they’re under the hood somewhere because when I throw some hay at them they wake up.
The book says 368 HP with regular and 375 with premium. I believe them.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
How come Fezo gets to have all the fun? I could meet you at the Buffalo airport where you get those bargain flights and pick it up. In a month or two it would be right at your front door down there in sunny Florida.
Of course you would have to give me a ride over to Largo after supper.
BTW, have you checked to see if your Florida house is still there? TS Debbie is dumping 6+ inches of rain on the Tampa area. :surprise:
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
That is a big fallacy that has been around for years. Just starting an oil lubricated internal combustion engine for a few minutes is OK and is better than nothing but the real way to do it is to drive the car for at least 10 minutes at least once a month. This gets the engine/transmission up to operating temp and lets the fluids slosh around under normal load conditions. Doing this will cook out most of the harmful moisture that has build up from sitting and what is introduced from the starting process. This is the main reason why manufactures have the qualifier about changing oil more often when doing short trip driving vs. open road driving when the car is at the desired operating temp for almost all of its road time.
The oils today are much better than years ago but you still have to be concerned with moisture. As an old lubrication engineer once told me, “once you start an oil lubricated internal combustion engine, the clock starts and you can’t shut it off without a LOT of storage conditions. The military knows all about this and that’s why they can take their vehicles out of storage and have almost no problems. The guy next door that wants to take his play car off the road for the winter is usually not going to go through all of that”.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
Depends on which part of the state. In the city I understand they are pretty bad but here in upstate Haggarity quoted me $188/year for liability and collision on a one year policy on the Vette 300/500 limit.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
I have to admit, that's a new one on me. I thought every time you parked a car for more than a few hours you basically had a dry start, particularly with thinner synthetics. Would the few seconds it takes for the oil to circulate really trash the engine?
How would you ever start a car that's been stored for the winter without elaborate preparations?
I'd like to hear more on this.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
I am sorry I spoiled the subtlety. :grin
2014 Malibu 2LT, 2015 Cruze 2LT,
That's kind of what I do with the car I store for the winter only instead of driving it (not possible) I let it idle until it reaches full operating temp.
I also crank it a couple of time without letting it start to pump the oil up a little.
I sure hope I'm not doing any damage doing it like that.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Yep. You can indeed kill an engine that way. Not terribly likely (remember Woody Allen's 200 year old Volkswagen in Sleeper) but it happens.
I'd go with jmonroe's advice - get someone to drive it around long enough to get everything warmed up every so often. I've got a friend in Tampa. He's like a manager in IT so his hourly rate might not be cheap....
How about just once a month.....or even every other month. It could work in your favor, depending on how many lease payments are left.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Hey, I like this deal better than the fezo deal. We drive the car to Buffalo, get on a plane....and you drive the car down. I am not sure why it will take a month or two, but other than that it sounds like a good plan.
Once you get to Florida we drop you off in Largo....that's a good plan. The capitalist system is working..........
Yeh, I saw that Debbie dumping rain on Tampa. We are inland so maybe not as bad. Our neighbors there will tell us if there is a problem....right now, no news is good news.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
I'm not an engine builder, but I have helped some friends that were. I was the plastigage smasher (determines a main/con rod bearing size/diameter) and crankshaft/camshaft installer/helper. They ran the business, I was having fun/learning.
Anyhoo, these guys always used an electric drill to turn the oil pump before hitting the starter to run the engine. This has to be done even on well lubricated freshly installed parts after rebuilding an engine so it sure tells me the importance of lubrication from the get go or after a long shut down. Ask any engine rebuilder.
2013 Mustang GT, 2001 GMC Yukon Denali
It's been raining heavily here since yesterday morning due to Debbie's cyclonic flow of moisture across southern Florida. We've had over 4" so far with lots more expected. No wind or tornadoes, just heavy rain with thunder and lightning. Most of the winds are north of us near Sarasota and Clearwater, which includes Tampa area.
2024 Genesis G90 Super-Charger
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
This Debbie never did Dallas - she did Tampa. *stickguy, you've been working so diligently on street ready vehicles that you got your mind in the "gutter!"
ROFL
2024 Genesis G90 Super-Charger