Flaw in your logic...compare apples to apples... - Saab General Bulletin Board - Saabnet.com
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Flaw in your logic...compare apples to apples...
Posted by Richard P. (more from Richard P.) on Fri, 28 Dec 2001 08:37:03
In Reply to: Flawed analysis, Richard (Long), pursang, Thu, 27 Dec 2001 18:59:24
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First of all I was assuming 1500 total down which would include capital cost reduction and any fees (most times you don't have to pay those anyway). To compare apples to apples, I could lease a car for 60 months and lower the payment even further to say 325/month.
So let's try this again:
60 month finance of a 28000 car
2000 down
31200 = 520 * 60 car + finance charges
-7000 trade in value @ 60th month
26200 spent
60 month lease of 28000 car
1500 down
19500 = 325 * 60 lease payments
21000 spent (even if I keep the payment at 350 I still only spend 22500).
So after the 60 months, I've spent less and we both have to buy a new car because my lease ended and you sold yours to CarMax or something. Yes there may be penalty charges at the end of the lease, but that's only if you don't take care of the car or if you go over the mileage (something I wouldn't do because I carpool with the wife). Even so, I still could come out on top, plus I'd have a new car and you'd be driving a car with 100K miles on it...shall we add up repair bills?
Richard P. '99 9-3SE HOT
posted by 168.215.13...
Posts in this Thread:
- is it possible to trade in a car..., larry, Thu, 27 Dec 2001 14:18:23
- Here are some options..., pmr, Fri, 28 Dec 2001 07:28:17
- If you can't afford the payments, don't lease >, ChipJ, Thu, 27 Dec 2001 15:14:47
- Leasing is for Rich people???, Richard P., Thu, 27 Dec 2001 15:58:55
- Keep an open mind & run the numbers, Marc, Sat, 29 Dec 2001 15:25:24
- Flawed analysis, Richard (Long), pursang, Thu, 27 Dec 2001 18:59:24
- Define "rich" as someone who >, ChipJ, Thu, 27 Dec 2001 16:41:57
- Money is never "lost" when you trade in...., Richard P., Thu, 27 Dec 2001 14:33:37
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