It's more than likely a clerical error. I would have them change it as it will affect your warranty. To the service department it will look like it has that many miles already. Find out if it was reported to the manufacturer as sold and what mileage was stated on the RDR. (Retail Delivery Report) Mack
Let me clear some misconceptions regarding lease turn-in and buyouts. First, the residuals are set based on the MSRP of the car. Rarely do they miss the mark on residuals.
Second, when a customer returns a lease and does not buy it out the vehicle is "grounded" TFS is notified. They then send an independent appraiser to look the vehicle over for any dents, damage, excess wear, take pictures, etc.. He submits the report to TFS.
TFS then puts pictures of the vehicle on Dealer Daily so that Toyota dealers can see the vehicle and buy it if they choose. (Kind of like e-bay but the price is fixed no negs with dealers either) The original leasing dealer has first dibs.
If the original dealer decides to buy the car they just go online and click on the "buy vehicle" button and the car now belongs to the dealership. The operations center is notified, they issue a check to TFS and a new stock number on the vehicle. The used car manager sends the vehicle through service to have it checked out and certified if it qualifies for certification then it's put on the lot for sale.
Any questions?
Mack :shades:
p.s. Oh, this is in CAT. I assume other regions do the same.
If someone buys a car every 6 years of their life, from the time they are 22, till they are 75, that's roughly 8.83 cars bought over a lifetime.[bear with me please]
If every experience with the dealership/salesperson was horrible, and criminal, that's 8.83 bad car purchasing experiences in lifetime.
I have 8 customers a month that lie, waste my time, and get mad at me for things out of my control.
1. Upside down on trade.
2. To many miles on lease, and trashed car out.
3. Their bad credit is my fault. [one of my favorites]
4. Can't believe that they can't trade their car in on a 3 year newer car, and still lower their payment.
Not complaining, I love my job. Just trying to give people some perspective in here that can't understand that car salesman isn't another name for miracle worker.
Sales Manager said the car was traded from another store ~50 miles away... Which would match the OD on the day I picked it up.. Thanks for the RDR pointer. He promised to correct the paperwork. Said it was not a Demo. I'm just a bit uneasy.
sorry i couldn't post sooner, but i had it under control. i slipped his 6pm delivery a franklin(cheaper than bail money) and told them to offer to take 'brit out for drinks, but not to worry about it, he only liked papaya juice.
2024 Ford F-150 STX, 2023 Ford Explorer ST, 91 Mustang GT vert
i'm with 'isell on this one. you enter into a contract, you both live with it.
maybe someone can explain the difference between a closed end lease and an open ended one.
my wife leased a saab. it was in $3500 accident while we were leasing it. the buyout on it was about 19, i called and offered 17, but was told the buyouts are not negotiable. months later i got a letter stating they got 15 for it. that's just the way it goes. i don't get the crook angle.
2024 Ford F-150 STX, 2023 Ford Explorer ST, 91 Mustang GT vert
"...send an independent appraiser to look the vehicle over for dents, damage, excess wear..."
What steps (if any) do they take to assess if the car has received required maintaince? What if the customer failed to change the oil for 20K miles, would they catch that?
I used to think that a car coming off lease would be a sure bet because the dealer would be sure that the car was cared for. Now I'm not so sure.
I asked this question a while back but no one answered. :confuse:
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
The way I read it, this poster wanted to buy the car at the end of the lease and then got upset because the residual was set in stone.
Thats the way I read it, but the residual should not be what the car sells for after the lease. After the lease the car should sell for fair market value, if the leasing company guessed wrong then they should eat the difference. If they don't sell to him then they will have to sell to someone else and they wont care one iota what the residual value is, all they will care is what the market value is.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
What steps (if any) do they take to assess if the car has received required maintaince?
None. I have been with the independent guy when he looks at some of ny customers lease returns. They can be good people to be friends with.
What I have seen them look at is if there has been body work to the car.... look for damage such as scratches, dings, dents... And look at the tires... And look to see if the floor matts are there.
They asses how much it will cost in lbaor and parts and come up with a figure.
Nissan gives there customers up to $500 wear and tear.
I am hoping that he/she has the right VIN to the car... I mentioned for him to do that. I don't know if that actually got done. But what if they registered the wrong VIN to the car...
I have seen it happen before. You have to "like vehicles" two stock numbers. The managers work the wrong stock number and sometimes and doesn't get caught.
If that is the case he could be driving illegal :sick:
Good work, explorerx4. He'll never be the wiser...
Funny thing on residuals. Reminds me why I don't ever lease. I'd have the same kind of reaction I'm sure.
That said, when you've got a deal that says on x date when the lease is over you can buy it for y dollars I don't see where it is the fault of the manufacturer or the dealer to negotiate a lower price.
I know that some will negotiate but understand that manufacturers who have a set policy on these matters know they'll actually lose money on some but they've got the numbers to show they'll be ahead overall.
I suppose if I leased a car for however many years and took care of it I might get pretty attached to it after all (not likely when I'm surrounded by newer cars but it could happen). If I like it that much or value it so much that it's worth more to me than book I may have to suck it up and pay the agreed to residual. The fact that I could get the same car with the same mileage but an unknown history for less shouldn't matter.
Now, we never did check this out but my dad's last car was a Buick Century. He'd had it less than a year when he couldn't drive any more. We kept paying the exorbitant lease payment (some sales department had a field day with an 87 year old guy who had been leasing Caddys from them) and whoever drove dad around in it when he needed to be somewhere.
Earlier this year the car got turned in three years old with maybe 12K on it. I don't know what the residual was or whether they'd dicker. Had it been his last DeVille I'd have at least asked. Dad never liked that Buick so it wasn't the same.
2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
"maybe someone can explain the difference between a closed end lease and an open ended one. "
Easy. An open ended lease means just that. You are open to whatever the dealer wants to do. They can charge you for excess wear and tear (subjective), new tires, new mats, etc, etc,..
These type of leases were outlawed about ten years ago with the introduction of Regulation M. This regulation gave birth to the closed end lease which provides for total disclosure of lease terms, what's expected of the customer and the dealer.
Open ended leases gave leasing a bad rap. Anybody want pizza? Mack
Ok, I think we should put this baby to bed. Here it is straight from Toyota at the bottom of the page as I stated.
"*** Manufacturer's Suggested Retail Price, including delivery, processing and handling fee. Excludes taxes, title and license. Actual dealer price may vary."
Let me give you an answer from the perspective of the customer on your question regarding dealers being aware of lease car condition. I certainly do not know as much about leasing as you sales guys, but I've leased about 34 new cars in 40 years. I get them all open end, 48 month, and always buy them before lease end, about 26 to 32 months in, I tire of cars quickly.
Sound like a terrible idea? It could be but the way I do it is carefully choose a model I think in demand, the proper color, right options, never hit 20K in mileage and carefully maintained with records. I've always retrieved equity in these cars so that cut's down my lease costs.
I've lost, sold less than buy-out on about 4 of all those cars. And the answer to your question is the dealer knows nothing about the cars condition on lease turn in unless you have it serviced at the brands dealer and they have the computer record.
Here is the disclaimer from the "Select a model to begin" page.
* 2008/2009 Manufacturer's Suggested Retail Price, excludes the Delivery, Processing and Handling Fee of $660 for Cars and $685 for Trucks, Vans and SUVs. (Historically, vehicle manufacturers and distributors have charged a separate fee for processing, handling and delivering vehicles to dealerships. Toyota's charge for these services is called the "Delivery, Processing and Handling Fee" and is based on the value of the processing, handling and delivery services Toyota provides as well as Toyota's overall pricing structure. Toyota may make a profit on the Delivery, Processing and Handling Fee.)
Excludes taxes, license, title and available or regionally required equipment. The Delivery, Processing and Handling Fee in AL, AR, FL, GA, LA, MS, NC, OK, SC and TX will be higher. Actual dealer price will vary. Pricing, specifications, standard features and available equipment are based on information available when this page was produced and are subject to change without notice. Vehicles shown may have optional equipment at additional cost.
I'm having some difficulty finding the disclaimer you posted. The configurator doesn't want to work for me. Keeps kicking me into a local inventory search. Doesn't have an MSRP disclaimer that I see.
I can see how it could be confusing. The disclaimer I posted says the fee is excluded and that the local distributor may charge an additional fee. The disclaimer you posted says the fee is included.
You are basically financing the years these vehicles depreciate most, then turn around and sell an outstanding car to some financially astute buyer for them to enjoy. Almost the entire difference in price between leasing and buying is the amount of equity you are getting in your ever depreciating asset. That's why salespeople are burdened so heavily to sell the payment, not the price. And after 40 years you don't have a paid for car because they've sold you on the payment being cheaper...
People are free to spend money the way they choose and there wouldn't be a used car market if everyone bought used but you are throwing an incredible amount of money at a tool to get from Point A to Point. To each his own.
Thank you for taking care of the errors while I was on a mountain vacation. Mrs. Richard would allow no computers on the trip---or cell phones. At first I thought that I might go crazy, but then I discovered white water rafting. Man, what a thrill. It was almost better than posting on Edmunds. :P
As you say, Sir, to each his own. I have never been sold on a "payment only", I believe I'm too astute to deal in such a manner, also I have no need to deal in payments only as that does not enter into my picture. I am concerned only in driving a new car of my choice and pleasure for 2 years at the lowest possible cost to me, then move on to the next.
The operating costs per month for these 2 years is solely what concerns me, if you buy them right and sell at a price, I drive for maybe two hundred a month times 24, well worth it to me.
As far as going 40 years without a paid for car, that is exactly what I want. I will not pay cash for a car although I certainly could because I believe in renting a depreciating asset and purchasing an appreciating asset, a rule I have successfully followed for those "40 years."
A car is only new when it is still on the dealers lot. Once anyone takes possession it then becomes a used car, therefore you never see a new car on the road!!
As you say, Sir, to each his own. I have never been sold on a "payment only", I believe I'm too astute to deal in such a manner, also I have no need to deal in payments only as that does not enter into my picture. I am concerned only in driving a new car of my choice and pleasure for 2 years at the lowest possible cost to me, then move on to the next.
The operating costs per month for these 2 years is solely what concerns me, if you buy them right and sell at a price, I drive for maybe two hundred a month times 24, well worth it to me.
But if you are trying to minimize your cost each month, which is what you wrote, you are being sold on the payment. And there is nothing to stop you from buying a car and reselling it every two years; it doesn't have to be a lease. My point is buying a car is cheaper than leasing one in the long term because you are building equity (albeit in a terrible place to begin with). This is w/o taking into account how you are negotiating your lease which is MUCH more difficult than negotiating a direct sale since they can hide money more easily. Or the fact if you paid w/cash you'd get a better deal than w/credit.
Regardless, you aren't doing what you are wanting to do, and that is drive at the lowest possible cost. I can understand loving cars because I do too, but it baffles me to spend more money than one has to in doing it. The guy really enjoying cars is the one buying your castoffs. I wish I lived where you do (maybe I do! ) so I could plant a bug in your ear and have you buy me a Honda Odyssey.
BTW, my wife works in the leasing industry and along with these goofy warranties Best Buy and those kinds of stores sell it is one of the biggest ripoffs to consumers and its where these big companies make TONS of money.
In the broad sense, perhaps I am being sold on a payment, but my denial is based on the fact I have no need to meet a certain payment limit per month nor would I let that influence my choice in any manner.
If I purchased that 35K car today, paid the full state sales tax on the purchase, I would tie up my 35K for two years on a worthless investment, actually loose a significant amount in lost interest, lose my 7% sales tax on that 35 grand, ($2450) and since I sell every 24 months, now I can go out and buy another new car and do the same foolish thing again.
By my computation, I would indeed be a fool to purchase. Again, this system is hardly for the person who purchases with intent to keep for quite a while, that is an entirely different perspective one has to assume.
The fallacy in your argument is the assumption you would tie up your entire $35K. In reality you would put a certain percentage down and get a loan for the rest.
And here's another piece of info... you're still paying sales tax when you lease a car. In some states like Texas, you're actually paying sales tax on the entire car just like a purchase. Some municipalities (like mine) also hit you with a property tax when you lease.
The only good thing about leasing is the protection from depreciation. You know exactly what the car can be purchased for at the end of the lease, and you can either purchase or walk away. That's something you don't get when you buy.
Man what is this the 109th time we have discussed the pros and cons of leasing now? There are plenty of other reasons to lease besides locking in the depreciation. Many times leases will have much lower interest rates, in the form of money factors, then is available on a car for a traditional purchase. It is not often that you see 0 percent financing advertised by any brand and when it does happen it usually one of the Big Three domestics but it happens fairly often with leases. Sometimes those special leases with near 0 percent financing have lease cash on the hood too. Many European makes build the majority of their incentives into leases and leave out the cash and finance buyers. BMW is probably the best example of this but Mercedes does it too.
A vehicle with a MSRP near 70,000 dollars shouldn't lease in the 700 dollar range a month for a 12,000 miles a year lease with no money down but BMW routinely does this.
Saab is another great example of this. Saab typically has great lease deals but the cash or financing incentives they offer aren't nearly enough when compared to the leases. Combined with Saab's truly atrocious resale value and a lease is the only option that makes sense.
We went to the Chattooga River in Georgia---where the movie Deliverance was filmed. In fact, we saw the exact spot where Burt Reynolds supposedly was injured when their canoes turned over. As an old man, I had to have the guided raft experience. Still, it was thrilling to be there. We went in with another couple and rented a cabin on the river. For a week, we did our own cooking, took hikes, read books, played bridge, and talked politics. It had been a long time since I had done without the technology and modern conveniences of man. I didn't really miss civilization that much. It was the only trip in 41 years where my wife didn't go shopping. That alone payed for the trip. :P I hope that you find a good spot and enjoy your trip.
To stay on topic: I drove the suv as far as land would allow.
the fallacy in your rebuttal is that there would be indeed the loss of the entire 35K as I would not finance a vehicle if purchased and pay that loan interest. Another fallacy in your argument is that where I live I pay only sales tax on the lease principle , not the entire amount as you state, that's another "piece of info" for you.
Wow that makes great financial sense... shell out $35K cash so you don't have to pay the loan interest. My point is that you're still paying interest when you lease a car, i.e. the money factor, and you're still paying sales tax. As I said previously, "some states" charge the entire amount, some don't. Texas happens to be a bad place to lease, as I found out the hard way.
Point taken. Maybe I should have said it another way. It seems to me that the biggest advantage of leasing over buying is knowing up front exactly how much money you are putting at risk.
With leasing, you know it to the penny - it's the sum of the lease payments, right?
With buying, you have no idea. Take for example all the people who bought Tahoes and Expeditions 2 or 3 years ago and are trying to sell them now.
"*** Manufacturer's Suggested Retail Price, including delivery, processing and handling fee. Excludes taxes, title and license. Actual dealer price may vary."
This is worthless without the link to the page.
At least the disclaimer I posted is with a link :shades:
"Or the fact if you paid w/cash you'd get a better deal than w/credit. "
Another misconception. It's actually the other way around now. Dealers are more apt to give you a better price if you finance the car through them. Maybe in the old, old days paying cash might have got you a better deal. Today the dealer gets his money either way, cash or finance.
Comments
Mack
First, the residuals are set based on the MSRP of the car. Rarely do they miss the mark on residuals.
Second, when a customer returns a lease and does not buy it out the vehicle is "grounded" TFS is notified. They then send an independent appraiser to look the vehicle over for any dents, damage, excess wear, take pictures, etc.. He submits the report to TFS.
TFS then puts pictures of the vehicle on Dealer Daily so that Toyota dealers can see the vehicle and buy it if they choose. (Kind of like e-bay but the price is fixed no negs with dealers either) The original leasing dealer has first dibs.
If the original dealer decides to buy the car they just go online and click on the "buy vehicle" button and the car now belongs to the dealership. The operations center is notified, they issue a check to TFS and a new stock number on the vehicle.
The used car manager sends the vehicle through service to have it checked out and certified if it qualifies for certification then it's put on the lot for sale.
Any questions?
Mack :shades:
p.s. Oh, this is in CAT. I assume other regions do the same.
How about if we take out the vowels? Then you have prft which IS a four letter word...
Next you'll be telling me that the vowels are printed on tech contract and non-negotiable...
If every experience with the dealership/salesperson was horrible, and criminal, that's 8.83 bad car purchasing experiences in lifetime.
I have 8 customers a month that lie, waste my time, and get mad at me for things out of my control.
1. Upside down on trade.
2. To many miles on lease, and trashed car out.
3. Their bad credit is my fault. [one of my favorites]
4. Can't believe that they can't trade their car in on a 3 year newer car, and still lower their payment.
Not complaining, I love my job. Just trying to give people some perspective in here that can't understand that car salesman isn't another name for miracle worker.
Sales Manager said the car was traded from another store ~50 miles away... Which would match the OD on the day I picked it up.. Thanks for the RDR pointer. He promised to correct the paperwork. Said it was not a Demo. I'm just a bit uneasy.
Thanks for your time.
Regards,
Neil
Regards,
Neil
Yeah just one.
TFS...is that "Toyota Financial Service"?
I hope I'm not the only one that doesn't know this. :confuse:
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
i slipped his 6pm delivery a franklin(cheaper than bail money) and told them to offer to take 'brit out for drinks, but not to worry about it, he only liked papaya juice.
maybe someone can explain the difference between a closed end lease and an open ended one.
my wife leased a saab. it was in $3500 accident while we were leasing it. the buyout on it was about 19, i called and offered 17, but was told the buyouts are not negotiable. months later i got a letter stating they got 15 for it. that's just the way it goes. i don't get the crook angle.
Mack
Mack
What steps (if any) do they take to assess if the car has received required maintaince? What if the customer failed to change the oil for 20K miles, would they catch that?
I used to think that a car coming off lease would be a sure bet because the dealer would be sure that the car was cared for. Now I'm not so sure.
I asked this question a while back but no one answered. :confuse:
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Thats the way I read it, but the residual should not be what the car sells for after the lease. After the lease the car should sell for fair market value, if the leasing company guessed wrong then they should eat the difference. If they don't sell to him then they will have to sell to someone else and they wont care one iota what the residual value is, all they will care is what the market value is.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
None. I have been with the independent guy when he looks at some of ny customers lease returns. They can be good people to be friends with.
What I have seen them look at is if there has been body work to the car.... look for damage such as scratches, dings, dents... And look at the tires... And look to see if the floor matts are there.
They asses how much it will cost in lbaor and parts and come up with a figure.
Nissan gives there customers up to $500 wear and tear.
I am hoping that he/she has the right VIN to the car... I mentioned for him to do that. I don't know if that actually got done. But what if they registered the wrong VIN to the car...
I have seen it happen before. You have to "like vehicles" two stock numbers. The managers work the wrong stock number and sometimes and doesn't get caught.
If that is the case he could be driving illegal :sick:
GP
Funny thing on residuals. Reminds me why I don't ever lease. I'd have the same kind of reaction I'm sure.
That said, when you've got a deal that says on x date when the lease is over you can buy it for y dollars I don't see where it is the fault of the manufacturer or the dealer to negotiate a lower price.
I know that some will negotiate but understand that manufacturers who have a set policy on these matters know they'll actually lose money on some but they've got the numbers to show they'll be ahead overall.
I suppose if I leased a car for however many years and took care of it I might get pretty attached to it after all (not likely when I'm surrounded by newer cars but it could happen). If I like it that much or value it so much that it's worth more to me than book I may have to suck it up and pay the agreed to residual. The fact that I could get the same car with the same mileage but an unknown history for less shouldn't matter.
Now, we never did check this out but my dad's last car was a Buick Century. He'd had it less than a year when he couldn't drive any more. We kept paying the exorbitant lease payment (some sales department had a field day with an 87 year old guy who had been leasing Caddys from them) and whoever drove dad around in it when he needed to be somewhere.
Earlier this year the car got turned in three years old with maybe 12K on it. I don't know what the residual was or whether they'd dicker. Had it been his last DeVille I'd have at least asked. Dad never liked that Buick so it wasn't the same.
You just proved that the blond jokes are for real
http://www.toyota.com/byt/pub/init.do?seriesCategory=1
read bottom of the page
Easy. An open ended lease means just that. You are open to whatever the dealer wants to do. They can charge you for excess wear and tear (subjective), new tires, new mats, etc, etc,..
These type of leases were outlawed about ten years ago with the introduction of Regulation M. This regulation gave birth to the closed end lease which provides for total disclosure of lease terms, what's expected of the customer and the dealer.
Open ended leases gave leasing a bad rap. Anybody want pizza?
Mack
Here it is straight from Toyota at the bottom of the page as I stated.
"*** Manufacturer's Suggested Retail Price, including delivery, processing and handling fee. Excludes taxes, title and license. Actual dealer price may vary."
Yes please...I'll have 2 slices of that old/stale open
endedboxed stuff. :Pjmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
Sound like a terrible idea? It could be but the way I do it is carefully choose a model I think in demand, the proper color, right options, never hit 20K in mileage and carefully maintained with records. I've always retrieved equity in these cars so that cut's down my lease costs.
I've lost, sold less than buy-out on about 4 of all those cars. And the answer to your question is the dealer knows nothing about the cars condition on lease turn in unless you have it serviced at the brands dealer and they have the computer record.
* 2008/2009 Manufacturer's Suggested Retail Price, excludes the Delivery, Processing and Handling Fee of $660 for Cars and $685 for Trucks, Vans and SUVs. (Historically, vehicle manufacturers and distributors have charged a separate fee for processing, handling and delivering vehicles to dealerships. Toyota's charge for these services is called the "Delivery, Processing and Handling Fee" and is based on the value of the processing, handling and delivery services Toyota provides as well as Toyota's overall pricing structure. Toyota may make a profit on the Delivery, Processing and Handling Fee.)
Excludes taxes, license, title and available or regionally required equipment. The Delivery, Processing and Handling Fee in AL, AR, FL, GA, LA, MS, NC, OK, SC and TX will be higher. Actual dealer price will vary. Pricing, specifications, standard features and available equipment are based on information available when this page was produced and are subject to change without notice. Vehicles shown may have optional equipment at additional cost.
I'm having some difficulty finding the disclaimer you posted. The configurator doesn't want to work for me. Keeps kicking me into a local inventory search. Doesn't have an MSRP disclaimer that I see.
I can see how it could be confusing. The disclaimer I posted says the fee is excluded and that the local distributor may charge an additional fee. The disclaimer you posted says the fee is included.
People are free to spend money the way they choose and there wouldn't be a used car market if everyone bought used but you are throwing an incredible amount of money at a tool to get from Point A to Point. To each his own.
I did see your message and thanks!!. The VIN matches, ( :shades: ). whew.
Regards,
Neil
Richard
Those stopped years ago.
We're thinking of a rafting/camping trip in August. Where did you go?
The operating costs per month for these 2 years is solely what concerns me, if you buy them right and sell at a price, I drive for maybe two hundred a month times 24, well worth it to me.
As far as going 40 years without a paid for car, that is exactly what I want. I will not pay cash for a car although I certainly could because I believe in renting a depreciating asset and purchasing an appreciating asset, a rule I have successfully followed for those "40 years."
2013 LX 570 2016 LS 460
The operating costs per month for these 2 years is solely what concerns me, if you buy them right and sell at a price, I drive for maybe two hundred a month times 24, well worth it to me.
But if you are trying to minimize your cost each month, which is what you wrote, you are being sold on the payment. And there is nothing to stop you from buying a car and reselling it every two years; it doesn't have to be a lease. My point is buying a car is cheaper than leasing one in the long term because you are building equity (albeit in a terrible place to begin with). This is w/o taking into account how you are negotiating your lease which is MUCH more difficult than negotiating a direct sale since they can hide money more easily. Or the fact if you paid w/cash you'd get a better deal than w/credit.
Regardless, you aren't doing what you are wanting to do, and that is drive at the lowest possible cost. I can understand loving cars because I do too, but it baffles me to spend more money than one has to in doing it. The guy really enjoying cars is the one buying your castoffs. I wish I lived where you do (maybe I do!
BTW, my wife works in the leasing industry and along with these goofy warranties Best Buy and those kinds of stores sell it is one of the biggest ripoffs to consumers and its where these big companies make TONS of money.
If I purchased that 35K car today, paid the full state sales tax on the purchase, I would tie up my 35K for two years on a worthless investment, actually loose a significant amount in lost interest, lose my 7% sales tax on that 35 grand, ($2450) and since I sell every 24 months, now I can go out and buy another new car and do the same foolish thing again.
By my computation, I would indeed be a fool to purchase. Again, this system is hardly for the person who purchases with intent to keep for quite a while, that is an entirely different perspective one has to assume.
And here's another piece of info... you're still paying sales tax when you lease a car. In some states like Texas, you're actually paying sales tax on the entire car just like a purchase. Some municipalities (like mine) also hit you with a property tax when you lease.
The only good thing about leasing is the protection from depreciation. You know exactly what the car can be purchased for at the end of the lease, and you can either purchase or walk away. That's something you don't get when you buy.
A vehicle with a MSRP near 70,000 dollars shouldn't lease in the 700 dollar range a month for a 12,000 miles a year lease with no money down but BMW routinely does this.
Saab is another great example of this. Saab typically has great lease deals but the cash or financing incentives they offer aren't nearly enough when compared to the leases. Combined with Saab's truly atrocious resale value and a lease is the only option that makes sense.
We went to the Chattooga River in Georgia---where the movie Deliverance was filmed. In fact, we saw the exact spot where Burt Reynolds supposedly was injured when their canoes turned over. As an old man, I had to have the guided raft experience. Still, it was thrilling to be there. We went in with another couple and rented a cabin on the river. For a week, we did our own cooking, took hikes, read books, played bridge, and talked politics. It had been a long time since I had done without the technology and modern conveniences of man. I didn't really miss civilization that much. It was the only trip in 41 years where my wife didn't go shopping. That alone payed for the trip. :P I hope that you find a good spot and enjoy your trip.
To stay on topic: I drove the suv as far as land would allow.
Richard
And you're the guy who corrects OUR grammer?
With leasing, you know it to the penny - it's the sum of the lease payments, right?
With buying, you have no idea. Take for example all the people who bought Tahoes and Expeditions 2 or 3 years ago and are trying to sell them now.
This is worthless without the link to the page.
At least the disclaimer I posted is with a link :shades:
Another misconception. It's actually the other way around now. Dealers are more apt to give you a better price if you finance the car through them. Maybe in the old, old days paying cash might have got you a better deal. Today the dealer gets his money either way, cash or finance.
You got him Craig!
And you're the guy who corrects OUR grammer?
Oh my God :sick:
Here, try this link:
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.