02-27-2021, 10:36 PM | #23 | |
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02-28-2021, 06:32 PM | #24 |
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I got $14k off MSRP. That discount is more than fair and charging $14k on my rewards card was just extra that I asked plus all weather mats.
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03-12-2021, 01:20 PM | #26 |
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That was the cut-off for my dealer when I asked. He said he would go higher but after $5000 he would charge me what the CC charges them to cover costs of transaction.
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03-14-2021, 09:23 PM | #27 | |
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03-15-2021, 05:28 PM | #28 | |
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Having said that I'll be a hypocrite and ask why does the CEO of Goldman need a jet, cant he fly Southwest? Kidding. His time is obviously more valuable than mine.
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03-15-2021, 06:46 PM | #29 | |
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Talk to them- they get charged a credit card processing fee. Worth a discussion. |
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03-15-2021, 07:03 PM | #30 | |
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Certainly you have some good points and reasons, and for you and your wife it works out well. It also depends on the type of car and lease terms to know if it works; the vast majority of luxury cars are leases. You have the disposable income, and the numbers work for you and there are certain hassles it saves you from dealing with - and time is money. We have the disposable income and have made the decision to purchase in most cases (both new and CPO); the last lease we did was knowing that in 3 years we wanted to get out of the car and planned for a SUV thinking we would have kids by then. I've purchased outright as well and owned until paid off (mostly my M cars and the wife's cars), I've sold or traded cars before they were paid off (often for more than was owed on them). I've bought new, used, and CPO as well. I tend to turn over cars every 2-3 years or so because of high mileage I put on (driving for work) and I like to get out of them before major issues arise, I'll often buy my daily driver CPO/used with low mileage for that reason as I would pay too much on a lease for the miles I drive. For MOST people leasing is a poor financial move (just talking numbers here); its beneficial for some such as business owners or anyone who can deduct certain vehicle costs. For a certain subset, it makes sense to lease. We are under the assumption that we aren't buying a piece of junk money pit car; but if that's the case lease or buy you are covered under warranty and can bail before the warranty is up. The decision to buy or lease is a preference: Would you rather always drive a new car at a relatively low monthly payment or finance a car that you’ll someday own for a long time? Leasing is a luxury. If you constantly like to get new cars every few years for whatever reason, then leasing makes sense; remember leasing is a big money winner for the dealers/manufactures otherwise they wouldn't offer it. They get you with the lower monthly payment and little up front cost; initial cost of purchasing is higher than leasing. You're in their door every 3 years for another deal, maintenance is covered but they are still being paid by the manufactures for the work, and when its all said in done they acquire an asset that they can sell at a premium as a CPO car. Don't forget the hidden factors of a lease: mileage limits, extra mileage cost, cost for wear and tear not covered under warranty, damage expenses, higher insurance cost, liability for payment (i.e. lose your job), stuck with term until contract ends (can always refinance a car loan), can't claim the vehicle as an asset, etc. When you buy the car payments will eventually end and you now own an asset (even if its a depreciated one), whereas lease payments won’t end assuming that you always need a car and you never acquire an asset. Similar debate as buy a home or rent; a home is a more valuable asset that tends to appreciate over time, but in some HCOL areas renting is financially sensible.
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03-15-2021, 07:06 PM | #31 |
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$26K!!! Jealous!!
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