Date: Fri, 28 Jan 2000 22:28:41 -0500 From: Four Weis <mweinopsamcom> Subject: Re: 1st time driving a saab (9-5 SE Wagon)
Ken Washington wrote: > My former father-in-law was in the car business. He explained leasing to > me one day. After his explanation, the only way to go with a luxury car > is to lease. The monthly lease payments, tax, tags, title and cap cost put in the > car for about $20,000 for 3 years. The way I see it, this makes sense only if you replace your car every three or four years. The total cost of leasing is $20,000 for three years, while the total cose of purchase, over four years is $55,000. But you have to remember that at the end of the lease you own nothing. At the end of four years with a purchase, you could sell the car for at least $20,000. So the difference is not so great. The way others have explained it to me, the best deal is to buy a car coming off a lease. Let someone else take that big depreciation. On the other hand the total cost for my Classic 900 is about $1,000 per year. The lease would cost you $6,667 per year. Don't forget to consider the lower insurance cost for an older car and I live in a commonwealth that taxes cars, so I save even more. If you have to drive a new car every three years, go for the lease. I have other hobbies which are straining my finances right now, so I plan on keeping a car for more than 15 years. However I will buy the 9-5 Wagon because I believe It can last that long and it has enough room to carry my lightbucket. >
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