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I'm sure they are legit... But, anytime you have to buy out the lease, then lease it to someone else.. hard to see how you are going to come out ahead...
Just keep it for going thru the drive-thru lane late at night.... Or, get a job delivering pizzas one day per week..
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I'm guessing I'll receive a property tax bill in 2009, as well, since I will have "owned" the car at the beginning of the year.
As far as the property tax? Turn your car in about a week early... then, drop by the PVA office at the county courthouse that day, to let them know that you no longer have the car. You might get out of paying the property tax for 2009.. All of my leases have come from Ohio, so I have the added advantage of telling the PVA that the car is no longer mine, and has been removed from the state..
Just make sure you borrow a car for a week, and don't take delivery of a new one until after January 1st... You may get to skate on the property tax for a year..
The timing is critical.. I've only been able to do it one time... I had a lease ending on January 5th, and turned it in on December 30th.. The PVA is usually pretty easy to deal with.. they may ask you to fill out an affidavit.
Good luck!
kyfdx
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I suspect I'll be taking a page out of the book of qbrozen and getting the replacement vehicle at least a month or two before my lease ends. But, I'll try to schedule the lease turn-in for late December. Good advice!
I'm way under on my allowed mileage (I can drive up to 18,000 miles between now and then), so I'm thinking of driving down to Miami at the beginning of December for Art Basel.
If you are getting a car early, then be certain to drop the old one off early... Otherwise, you'll be paying property tax on both of them!
Not too familiar with Art Basel.. Is that anything like the basil in pesto sauce?
regards,
kyfdx
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No need to adopt me.
WhenIf I get into an accident we'll just say I was borrowing the car for the day since none in my fleet would work...Art Basel
How much is the property tax on autos in KY? (Here in Mass., it's called Excise tax).
I'd probably call the town or county assessor's office & ask them about it. I know here, if you've paid it, then sell the car, you can apply for a refund for whatever time you paid but didn't own the car.
.
BEvERage
Oh, well, at least it's an income tax write-off since I itemize deductions!
Q, I'd just keep the Accord and keep the miles off the Infiniti. Look at this as a lesson learned for the next time you think about a lease. And with the price of petrol going skitso, better to drive the higher mpg Accord until the end of the lease.
The Sandman
I SELL the car.
I'm just not sure how that would work. I figure, bottom line, I could probably get $17,500 for it. HOWEVER, Honda Finance will ONLY sell it to a dealer or to me. No 3rd party buyers. So, does that mean I have to buy it NOW and resell it? ORR... is this just like any other financial contract and I could sign power of attorney to any ole bank and they complete the transaction with the seller?
It would save me about $1k-$1200.
Yeah, yeah, I know, I COULD keep it and keep making the payments. Honestly, I'm feeling a bit self conscious about having so many vehicles. My family members roll their eyes at me enough as it is. *sigh*
I'm not against leases. Just gotta make sure you wanna keep what you get for a while.
We managed 43k of the allowed 45k in the Pacifica, so I think that went pretty well, all in all. Only paid for oil changes and a couple of tire rotations. Still had the original tires and brakes when I turned it in yesterday. We were given a clean bill of health, by the way, so no extra charges. woohoo!
Now, if I could get the wife to drive the Accord ... but one of the reasons for its retirement is that she can't drive stick. She's already managed to put 3500 miles on the Volvo, and it hasn't even been 2 months yet.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
I'm a little fuzzy about what you have to pay to turn it in. I assume the remaining payments, but theoretically, there should be some discount to you since the payments include interest (and taxes) that you shouldn't have to pay.
That really works out for Honda also. They get paid for 3 years of use, but the car only has 2, so it should be worth more than expected.
If you buy it out, you again pay all payments + residual, right?
I guess then that the only realistic solutions are turn it in and pay the price, or sell it to a Honda deal, hoping that it is worth more on a buy bid (with the dealer taking care of the payoffs, etc.).
Maybe it is good that I never leased!
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Well, this time around, it turned out to be a '55 DeSoto Firedome 4-door sedan, sitting at a used car dealer, of all places! Neat old car, but pretty rough looking. I guess if it actually ran, it might be worth about $1000-1500? They were asking $4988. Now if it was 2-3 years newer, I might be trying to figure out a way to get it home right now. Still, kind of a cool old thing to see. It was light blue with a white roof and spear. And yeah, it had a Hemi! :shades: Well, okay, a 291 CID Hemi putting out 185 gross hp. Might outrun a first-gen Prius.
Oh, guess I should also add that my Intrepid behaved perfectly on the trip up and back. And even managed to get around 32.1 mpg. A part of me was sort of hoping it would give me an excuse to start looking for something else. I'm torn right now. Part of me wants to get a new car, but part of me doesn't want to blow the money on one.
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I hope it lasts you a little while longer , because anything that gets decent fuel mileage is going at or near sticker right now. I took an '09 Corolla out for a test drive the on Thursday. We briefly talked numbers and they were only discounting them by $400 which i thought should be at least $1k. Well Thursday they had 6 Corollas on the lot, today the had 1 (a base with no options) with 4 others with sold stickers on them.
I may wait a few months to see if the panic subsides, or just go with something bigger and save the money on the front end. The new Mazda6 will be out in August so the have some good deals on the old style that I like better because it is a bit smaller and more sporty than the new one.
You're thinking of bailing on living in S. Florida? The hurricanes......I've read it's really difficult or expensive to get homeowner's insurance now. I actually owned briefly (but was not there much) a condo there about 5 blocks from the beach during hurricane Andrew. No damage where my condo was, just dumb luck (which I'll take!).
Never thought I'd want to move back to FL, but 20+ years of N.E. winters have me thinking about it.....of course there's the insane summer heat, the giant bugs, hurricanes, & some other drawbacks, but still.....no freezing to death, no snow tires, can own RWD bmw's w/o worrying about Winter......
However, you may be able to sell it to a dealership.. CarMax would be an excellent place to try... Just take your last lease statement with you on a weekday.. They will call AHFC right then, identify themselves as a dealer, and ask for their payoff if they take your car in trade. It doesn't matter that you aren't buying anything from them.. They'll make a cash offer, and you can see where you are. I wouldn't think you'll come out ahead there, either, but you never know..
Be sure to check with AHFC before making payments in advance. Sometimes leasing companies will take advantage of an early turn-in, and declare the lease in default, even though you've made all the payments. Many will not allow you to turn the car in early, and that may trigger an auction sale and deficiency judgement against you.. You wouldn't think it would matter, but if they have insured the residuals, turning the car in early may invalidate the car from being included.
regards,
kyfdx
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That is all very depressing. Remind me never to lease......sheesh......(I remember that Terry was totally against leasing) :confuse:
If I were to trade to a dealership, I SHOULD come out ahead beause of that tax advantage. It is something I didn't think about before when I bought the Infiniti. Wish I had. Off the top of my head, the numbers worth out to ~$750 in my favor by having a dealer buy it. But my next payment is 1 week from now, driving me down to ~$400 advantage. Is it worth $400 to go through all this? Carmax, for instance, is very far from me. I'm in NJ and I believe the closest is Maryland.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
Like a 55 DeSoto....
Actually, the '55 doesn't really turn me on the way the later years did, especially '57-58. Still, a pleasant enough car. Something that Mr. Roper might drive on "Three's Company". Actually, now that I think about it, they showed him driving a '56 in one episode, where he sold the apartment complex and moved to Cheviot Hills. He bumped the real estate agent's Seville with it, and I think he also backed over a fire hydrant.
Oh, I filled up the Intrepid this morning on the way into work. At first I thought that 32.1 mpg I got on the trip up to Carlisle was a fluke, like maybe the pump had shut off early. If so, I figured it would correct itself the next time I filled up. Well, I made the trip back home, about 110 miles. Roommate borrowed it yesterday to drive up to work to get his schedule (I guess the thought of using this marvelous invention called the telephone never occurred to him. :confuse: ). And then there was the maybe 2 miles to the gas station this morning. Total mileage on that tank, 121.3. Gallons to fill up: 4.082. So I figure 29.7 mpg overall. If it only got 20 mpg on those local miles, I figure on the trip miles, it had to have been getting 31. So, that 32.1 probably was accurate on the trip up.
Anyway, as much as I might get tempted to get into something new, or at least something different, I think financial prudence is going to prevail here, and I'm going to stick it out with this thing until something catastrophic goes on it. Wouldn't make sense to do it for improved fuel economy, because as little as I drive the fuel savings would never offset the monthly payment.
I wonder what kind of fuel economy that '55 DeSoto would have gotten on a trip? My '57 would hit about 16 mpg. It weighs about the same, around two tons, and has a larger engine, a 341 with 270 hp. But it also has a 3-speed automatic, compared to the '55's 2-speed, so that would make the '55 less efficient. Plus, they had to use a shorter axle ratio with the 2-speed.
I assume they work the sme way as Carmax.
You really need to find a couple of cars that you like and work for you, get them paid off, and in the words of the late, lamented Terry: Stay away from the car lots!
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
What??!
You don't mean that in the sense it sounds, right? Do you know something I don't?
Driving around a paid off car is just so foreign to me. WELLL... I guess my Alfa qualifies there, as does the pickup and my wife's bimmer.
But my last daily driver to be paid off was my volvo. And before that was my 4runner, which I sold shortly after getting my first post-college job, and took on a note on a Dodge Dakota V8.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
Uwchland and Hatfield.
Westhampton opening in August.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
But that was at least a year ago.
2-3 years ago, when Prius' still had a $2K+ federal tax credit, I seriously thought about buying one......oh well.
OTOH, there's a good article in the 6/5 WSJ: When Buying A Gas Guzzler Makes Sense, about the large discounts on new SUV's, & great deals on used ones. At some point, used Gas Guzzlers may be a good deal, but then gas could be $5 by Labor Day. $5.75 wouldn't surprise me.....
I think that most sheeple, I mean people, just panic and don't think. I ran the numbers and if I were to trade my 28 mpg MS3 for something that got 35 mpg I'd save $1.20 a day, Asuming an even trade.
Mine: 1995 318ti Club Sport-2020 C43-1996 Speed Triple Challenge Cup Replica
Wife's: 2021 Sahara 4xe
Son's: 2018 330i xDrive
It's kind of a boring vehicle, but all the passenger and cargo room you could ever want... And, the old body style in its last few years should be more reliable than an untested new model.
Had one just like it (although in much much worse shape) with the same color combo. My favorite vehicle I have ever had. Power everything, non-muffled 350 (yes it was very non muffled.) I wrapped the remains of what used to be mufflers around the rear axle one night romping through some desert bushes and had to cut them off with a hacksaw. I left the mufflers in the desert and drove around with two cut off pipes just aft of the transmission....
But the truck ran good once I tuned the carberator (sp?) was a blast to drive. It might have helped that I was only 18 at the time.
My Escape is getting up there at 85k and in 6 months it will be having it's 3rd birthday with me so I guess I am getting a little itchy for something new. I just did the math and the Denali would cost me $7500/yr in gas if it goes to $5. Was it Terry that used to say "God hates a coward", I could step up now and hope this all goes away by Christmas and we are back to $2 like the good ole days.
Thanks.
Unfortunately, it doesn't look so good the closer you get to it. It's rusting out on the passenger side rocker panel, and where it joins the back of the cab. The paint's still sort of shiny because it's non-metallic, but is oxidizing. Rub your fingers across it and they'll turn red. And when I push snow off of it, it turn red, too! Although that blue Chrysler does the same thing. It also got rear-ended twice a couple years ago, and after getting the bumper fixed the second time, someone pulled a hit and run when it was parked, and I just gave up.
It has power windows, but the driver's side is broken. Even better, the a/c doesn't work, so it gets nice and toasty in the summer! Although it has a sliding rear window, and the vent windows, so it's tolerable. And, I don't know how Granddad managed to pull this off, but he found a truck with cloth inserts on the door panels, but a vinyl seat! :confuse:
It just has the 305-4bbl, but that engine seems adequate for most purposes. Fuel economy is pretty horrible though. Maybe 10-11 around town. Best I've gotten out of it was maybe 18, in just about pure highway driving, and taking it easy. Back when it was newer though, it would get maybe 20-22 on the highway.
I've thought about getting a newer truck, especially with the way they're discounting them these days. But as little as it gets driven, it just wouldn't pay off. My mechanic also has a body shop, so I'm thinking about running it by there and seeing how much it would cost to get the rust in the rocker fixed. I'm not necessarily looking to get the thing restored to showroom new, but just to make it last.
Here's a closer up pic that I took of the thing earlier in the year. And here's an ancient pic that someone took of Granddad standing by it back in 1985. He tried putting that camper on the back and drove it around the block to see how it would take it. Did horribly, so he never did it again. His previous truck was a '76 GMC 3/4 ton crew cab that could take it without noticing.
I think that camper weighed 1750 pounds. Hate to admit it, but I've taken a chance putting heavier stuff than that in the back! But not to go cross-country or anything.
Uwchland is the one I mentioned (out near West Chester, literally right off the PA turnpike),and Hatfield is closer in (in the Quakertown area, I think of the 611 exit of the PA pike).
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Do you just park the rest outside?
2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)
I've been thinking about building a carport-style addition off the back of the garage, but I don't know if that would put it too close to the woods. Might be kinda risky to park cars back there, in case a tree ever fell down.
I also think there's a lot of speculation, fear, and greed priced into the oil market right now.
Don't know whether I will pick up a fire-sale SUV or get another sporty sedan. I've got six months to make up my mind...
I sent a note through their system and got a response this morning. Salesperson gave me the rundown of when they do inspections and, in order to save me time, asked that I let him know what range of values I was hoping to get.
I wrote back and let him know that, as I'm sure he understands, I don't want to give a range and lowball myself, so if he would be so kind as to give me HIS range, I would appreciate it.
We'll see what happens.
Of course, I know what its worth. But as I've seen so many folks get OVERBID at carmax, I don't want to throw away an extra $500.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
Mine is now about 35 feet --- distance from the bedroom to the home office.
Ah, the joys of being able to work from home. Boss is in Toronto, rest of the team is either in Kansas or California, so nobody cares where my body is.
I've only put 4K on my L since January.
And, since my wife and daughter work at the same place on (roughly) the same schedule, I've told my daughter that if she drives the Ion to work (and mom carpools with her), I'd pay for her gas. So the VUE sits at home most days, too.
RUG is now $3.87 at the local station ... up .04 since Sunday.
My brother is rebuilding a 1953 Chevy truck that is almost finished. He made some changes like adding air conditioning, power windows (with the window cranks) automatic, etc. It will still look original but with amenities.
M156
For 30 minutes yesterday I did my bi-monthly Mini fantasizing; MCS Clubman. Couldn't quite make the fuel savings work to sell my 8 y.o. 5 series to buy a new Mini.....
If LX470's & TLC's start going for insanely low prices (which I doubt), I could get real interested. I'm guessing X5's won't (esp. the 6 cyl.), but I always wanted one.
My Grandad had a '54 Ford P/U--what I wouldn't give to have that now.....
andre: how much could it be to fix that power window? For the A/C. I imagine you would have to convert the whole system to the R134a, right? So $700 or more?
2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)
...not to mention, doesn't the 5-wagon actually have more?
Edit...yup, Edmunds confirms max cargo capacity of the 535 wagon is 75 cu ft, only 58 for the X5. 61 cu ft for the 328 wagon, so it also has marginally more...
2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)
I ran the math on my pickup, and it's costing my roommate about 40-42 cents per mile, to drive it back and forth to work!
I think the problem with the power window is a burnt-out motor. Honestly, I could probably do it myself for just whatever the part costs. Never really bothered to price them, but I'd guess around $125? I think back then, at least, on the assembly line GM used rivets to fasten the power window motors, but when you buy a replacement, it comes with bolts, and you just have to drill out the rivets holding the old one in, and then use the bolts to fasten the new motor. The motor in the driver's door was replaced once before, back around 1991, so I'm guessing it's bolted in.
I replaced two motors in my '79 5th Ave awhile back. Chrysler bolted theirs in. Basically, once you pull the interior trim off so you can get to it, it's just three bolts, some wiring that actually plugs in, and it's done. Probably the reason that I haven't bothered to fix it is that I don't have to drive it that much! :P This time last year, I was driving the truck and letting my roommate borrow the Intrepid, but the window worked back then. It was starting to go bad, but as long as you didn't put it all the way down you could always grab it and help it back up. But once the roommate got laid off and then got a closer job, I made him use the truck, and it was soon after that the it went out totally.
As for the a/c, my stepdad had converted it to R134 at some point, but I don't know how good of a job he did. It wasn't working when I got the truck, but I never really bothered with it to find out what, exactly, was wrong with it. When I take it in to have the mechanic give me an estimate on fixing the rocker panel rust, maybe I'll have him check the a/c, too., and at least find out what's wrong with it.