Re: Paralyzed by indicision- buy new or used? - Saab 9-5 Bulletin Board - Saabnet.com
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Re: Paralyzed by indicision- buy new or used?
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Posted by pursang (more from pursang) on Tue, 28 May 2002 14:17:38 Share Post by Email
In Reply to: Paralyzed by indicision- buy new or used?, Benny, Tue, 28 May 2002 11:29:41
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I rarely recommend leasing, but if 3,500 miles a year is all you drive, check to see it they will write a lease with a mileage allowance of less than the usual of 10,000 miles a year. That would lower your monthly payment as they may allow a higher residual.

If you would sell the car after three years with only 10,500 miles on it when a standard lease allows 30,000 for the same period, you should be able to purchase the car at the end of the lease and sell it for more than the residual buyout due to the absurdly low mileage.

Without more info (cost of each alternative, monthly payments, intended holding period, etc, ) its hard to say. And why do you feel pressured? There are a lot of dealers and a lot of cars; if you notice, cars are always on sale and there are always incentive programs.

I guess a 9-5 lease would be $3,000 down and $400 a month or a total of $17,400 for three years. A used car that costs $24,000 today may only be worth $12,000 (or less, if you get the older model with 30,000 miles) three years from now, so on a rough guess there is a $5,000 difference between leasing new and buying used over three years. Used gets you more repairs which could minimize that difference and you eventually have to sell it. If you are an all cash buyer, then my guess is your financial circumstances are better than most, so why not just lease and enjoy it.



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