Average Monthly Auto Loan Now $503 @ 68 months

gamble said:
Also can't see why ppl would lease outside of business use or you're caked up.
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i agree

delete

so im gonna lease, i will use that money to invest in reselling from home for now
 
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Jetpacunlimited said:
SneakerPro said:
I'll never buy a car that depreciates so much that I have to buy it used to afford it.

I bought my 2013 Challenger R/T new in January 2013. It stickered for 33800 after my work discount and rebates I paid 28600.

I sold it in November of 2015 for 24000. I did leave my sound system in it and exhaust but with the cost of those items I essentially paid $275 a month once interest is factored in. 6200 bucks was my true cost of ownership plus interest and aftermarket stuff I put into the car over that 34 month period. My interest rate was in the high 3s for this car.
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You financed 28600, and paid 275 a month....

ON 0% INTEREST FOR 72 MONTHS - THAT ONLY COMES OUT TO 19800

explain.
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I didn't only finance 28600 with the Challenger. I was upside down on my previous car about 3K and I didn't really put anything down.

Add in interest and the money I put into aftermarket products is where I got that number
 
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Since the average price of a brand new car is $34k over there in the US, how much are y'all paying for BMWs, Audis, Mercedes, ...? Just out of curiosity. $34k seems a huge amount me to me. That's enough to buy a BMW 3 or 4 series (starting options) here. And well enough to buy pretty much any standard car with good options.
 
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People forget all the incentives and low interest rates that come with new cars in these arguments.
 
Asked this in the other thread

Is it worth it to finance a car under 10k? Plan on it being a CPO Corolla or Civic.
 
I would never buy a luxury car, I'd lease one but never buy it.

I'd finance an accord all day tho. Them new ones not bad.
 
I got a 2008 accord with 50k back in 2014 I plan to drive it til the wheels fall off , ppl forget a car is about getting from a to b first, everything else is second
 
703 Hwy said:
I would never buy a luxury car, I'd lease one but never buy it.

I'd finance an accord all day tho. Them new ones not bad.
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That's what I've been saying for a while now. Why buy a luxury car and when the warranty is done, you're going to pay more then what the car is worth in maintenance, money pit. If you lease a luxury car, you will never have to worry about any of those.. Well, a VW, I would lease because those parts are extremely expensive.
 
703 Hwy said:
I would never buy a luxury car, I'd lease one but never buy it.

I'd finance an accord all day tho. Them new ones not bad.
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exactly, all these cats talking "depreciation", who cares about Value if you going to ride the car till the Wheels fall off?

Folks gotta stop using this "point a to point B" discussion as if it applies to leasing. You lease if you like cars and want something new every so often, but cats need to dead the argument as if everyone loves cars like that, some people just need to get to work and its idiotic to have eternal car payments when you can buy a car pay it off and then use that former car note money to go into a rainy fund incase you have pay for a major repair or any other life emergency.

lol Why would I pay 300+ a month for ever leasing when I can pay that for 3-4 yrs and then be done with it.

Nothing wrong if you love cars, but leasing is idiotic to the avg person who just cares about a means of transportation.
 
Paid off my 2013 camry se in less than 3 years. Only financed 15k, and put down $10k, so my monthly payments were pretty low.
 
SneakerPro said:
I'll never buy a car that depreciates so much that I have to buy it used to afford it.

I bought my 2013 Challenger R/T new in January 2013. It stickered for 33800 after my work discount and rebates I paid 28600.

I sold it in November of 2015 for 24000. I did leave my sound system in it and exhaust but with the cost of those items I essentially paid $275 a month once interest is factored in. 6200 bucks was my true cost of ownership plus interest and aftermarket stuff I put into the car over that 34 month period. My interest rate was in the high 3s for this car.


I had equity that I used to buy my Scat Pack Charger in December of 2015 which I got for a similar deal. Sticker was 43 I paid 38 and some change.

If my current car holds its value like its predecessor the SRT8 Super Bee I will be looking at roughly 7-10K in equity after 3 years. I'm on a 72 month 0.9% interest loan.

My projected true cost of ownership over the next 36 month is around 9 grand give or take and puts me at round 250 a month.

I drive 16000 miles a year and there isn't any lease I could get with either of those cars or any car at their price points with those miles that compares.

People need to stop buying these entry level, first real job, entry level luxury cars that drop like a rock in value AND more importantly stop trading your cars in to the dealer and sell them yourselves.

Also you should ALWAYS check the rates at your local credit union. Go through the dealership to get the rebates, incentives and refinance right away with a credit union.

My situation and my particular tastes in cars could be an exception but I don't know because I only drive Da Hemis.
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challengers hold their value extremely well.
 
I will never have a payment over 400 dollars... although i said that at 350 too... i wanna lease a new Tundra or 4 runner though i think next
 
Buick is honestly the best wing of that company now. I have a 14 impala my mom and sister both have newer Buicks and my dad says all the time they ride as good or better than his cadillacs now that they share a frame and magnetic suspension theres no reason to cop a caddy. None.
 
When you have Chevrolets eclipsing the $70k price point, people that cant afford these cars are leasing them instead of being smart and walking away from these ridiculous prices. A very nice car can be purchased for less than $5k.

I own my cars, an I'll be paying cash for my next reliable auto if when and only when one of mine goes down. I'll never jump into the depreciation cycle again.
 
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