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The Car Thread ... !
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If you worked through the math, you'd see your blanket statement on lease vs. finance vs. cash purchase is not accurate, it's absolutely advantageous for some people's ownership models.
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I tend to sell my car when it’s around £9k in value and then take out a £6-7k loan to pay back over 2 years. I change my car every 3 years and this works for me.
Right, which is why a short term (2-3 year) use benefits a lease, you don't have to worry about a sudden change in value, it's factored in, up front, if the bottom drops out of the value of some car, due to general industry shifts, release of a new model, I don't have a hit on my TCO, it's fixed, up front with a lease. The projected value, at best case, for our DD/RT (aka, the family ride), based on years of historical value trending, was the exact same at the difference of the amount we will pay into the lease.
The money we retained over the period was put into a slightly more aggressive investment, and will wind up easily offsetting any finance costs, and we do $0 up front, so it's a no cost up front entry point.
At best case, it's roughly the same as selling it / trading it, in 3 years, but with the added effort of __not__ dealing with that process, and worst case, it devalues quicker and we'd be in a deficit, unless we kept it past the originally intended period AND didn't have any major maintenance costs outside of warranty.
Longer terms, sudden catastrophic financial issues require dumping it, sure, those scenarios don't work well with a lease. Also, you can make a pitch to the leasing company to own the car, I did that with my Lexus, it was either hand over the keys, or they go $5K under the (at the time) current value, they went for it, I wound up driving it for almost a year and selling it for a break even (it was at the good point, especially for a Lexus, for greatly slowed depreciation).
Look lots of people lease and are perfectly fine with it. I prefer to pay cash. Sell it when I want and but another. That’s not going to change anytime soon. I hear the invest the cash make more money argument a lot. But I’d rather just pay cash and be free to exchange cars when I feel it’s the right time. I’m the only wage earner in my household so I’m naturally risk averse.
Just who I am.
I also buy my iPhones and everything else cash. Don’t even do interest free credit.
Crunch the numbers, and you can find that in many cases, leasing two vehicles over a 6 year period vs. financing a comparable vehicle for the same amount of time, you can actually come out roughly even if not a little ahead on a lease even after taking into account the likely resale value on an outright purchase after 6 years.
In that time, you'll have had two leased vehicles, both brand new and fully under warranty. For a family hauler/daily driver that can be a really appealing option. If you've financed a car for that same amount of time, you're likely close to if not out of warranty, and are going to be stuck with repair bills just as a lot of things start wearing out.
Leasing doesn't make sense for me with the way I buy cars. I like finding year or two old low mileage used cars(even fresh off lease, which can be a good thing), and depending on how favorable the interest rates are I will either pay as much cash or will finance as much as makes sense and for as short of a period of time as is possible. I then tend to hold on to cars a while. I do a lot of routine repairs and maintenance myself, which blunts the cost of owning an out of warranty car.
There are plenty of people for whom it does make sense, though.
In that time, you'll have had two leased vehicles, both brand new and fully under warranty. For a family hauler/daily driver that can be a really appealing option. If you've financed a car for that same amount of time, you're likely close to if not out of warranty, and are going to be stuck with repair bills just as a lot of things start wearing out.
Leasing doesn't make sense for me with the way I buy cars. I like finding year or two old low mileage used cars(even fresh off lease, which can be a good thing), and depending on how favorable the interest rates are I will either pay as much cash or will finance as much as makes sense and for as short of a period of time as is possible. I then tend to hold on to cars a while. I do a lot of routine repairs and maintenance myself, which blunts the cost of owning an out of warranty car.
There are plenty of people for whom it does make sense, though.
Yes I imagine the 1-2 year old cars I buy are ex lease cars. Let the first owner take the big hit on depreciation.
My daily driver always has a back up plan if I need it. My wife's car! But as I'm working from home more, its not like I do high milage anyway.
@bunnspecial is correct, and not because it agrees with my previous posts, but because it's an accurate understand of a lease, and I agree with his perspective on why someone wouldn't choose a lease.
My lease is highly favorable to depreciation, I have a fantastic residual, again, you have to understand all the parameters of a lease.
There is no right or wrong. Everyone has their own way of doing things. We all get to choose how to spend our hard earned £££.
What we can agree on is there are so many good choices now when buying a car. A lot more than there was as I was growing up. Cars in the 70's and 80's were awful (well the ones my parents drove!).
Understand 100% it just will never be how I live my life. Like I said I just don't do finance even if it saves me money. Thats not going to change ever.
OK, this is very interesting ...
www.caranddriver.com
Hahaha, the company name, Nikola ... somewhere, Musk is filled with rage
Nikola's Badger Is Dead as GM-Nikola Agreement Is Scaled Back
GM and Nikola have revised their earlier agreement; in this smaller deal, GM will only be supplying Nikola with fuel cells rather than building the Badger.
Hahaha, the company name, Nikola ... somewhere, Musk is filled with rage
Money isn't my god. Living my life the way I think is right for me and my family is. I was brought up that if you want something you save up and you buy it. I refuse to own a credit card or use credit for annoying (excluding small mortgage).Wow, OK, well, carry on
When you do the sums, lease verses buy/sell the difference is pretty minimal. But you have to factor in all the variables.
If you overshoot the milage or have to pay for cosmetic damage repairs for example. Where as with owning there are the costs or repairs and maintenance. Its horses for courses and we are all different. I know I've met a lot of people who get into trouble with credit. I just know that will never be me.
Yes, hahaha, tired of talking about it
Wow, nice. So did you source your own exhaust valves? Or is that a system that starts as adjustable, and you had your installer adapt it to your Land Rover? You'll have to shoot some video, mostly for the sound, I haven't heard of many people doing this sort of exhaust mod on a LR.
My GT has the 4 way adjustable exhaust, including a special "quiet start mode" that can be set for a specific time of the day, I added a SS H-pipe, removed the resonator, it's PERFECT now.
I had cutouts on my '94 Vette, they were insanely loud. One side wound up getting stuck, removed them, welded closed to the dumps, traded car away.
FWIW, I had a Disco II back in the late 90's, long, complicated story, but I pretty much gave it to the woman I was living with when I bailed (just sold my company, disappeared for a couple of years, those stories are best told in person, over MANY beers
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I had them do it. They are a vmax200 shop. Normally do mainly Japanse builds, but I liked them. And their main fabricator convinced me that they can do a good job keeping it stealth like, and also turn it anti social ? And my daughter got a summer job there as well. I think the valves are by Powerflow, there is nothing standard available for my model. So they had to fabricate it all. Cat back but next, once this is finished and made black (I don’t like shiny stuff) then it’s the race cats plus a supercharger “reduction” and remap.
The sound is awesome, but to be transparent they messed up the sound inside the car. There is a drone around 1200rpm and again at around 2,000-2,450 rpm. So the back boxes will be changed.
The valves are Bluetooth operated. So also a quite start as the car does Rev on startup, but sometimes I leave early and need to sneak out ?
The sound is awesome, but to be transparent they messed up the sound inside the car. There is a drone around 1200rpm and again at around 2,000-2,450 rpm. So the back boxes will be changed.
The valves are Bluetooth operated. So also a quite start as the car does Rev on startup, but sometimes I leave early and need to sneak out ?
Oh nice, that's a nice custom fab. Yeah, it's tricky to get a "drone-less" setup, all the harmonics involved, etc., I had a Solo II exhaust on a previous ride and it had J-pipes that were adjustable so you could really dial-out the done, it was still present, but in a very small RPM window (like 76-77 in 6th, so you could drive a little slower, or faster, or in 5th vs. 6th, this was a manual car).
I'm stunned at the H-pipe I added , lots of extra sound, especially in Sport or Track, but zero drone introduced, even cross checked it on the highway at 75-ish with the top up, which is like < 1% I use the car
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That would be a first I’ve come across a transverse exhaust set-up before. I don’t know about anyone else, but I’m finding custom exhaust work is becoming harder to find in my area. When you’re looking at building a custom exhaust with mandrel bends, it obviously takes more time and patience, which I’m wondering sometimes if it’s a matter if some of these projects are just so diverse, that they don’t have the confidence to Take the challenge. Case-in-point, When I had my boosted Impala SS, I remember there was two shops that wouldn’t even touch my exhaust because the bends were to difficult where they had to loop around the Top side of the muffler and out the back, and I wanted to use stainless at the time. I finally found a shop about 25 minutes north of where I live that said they could accept my project, but it would take two days with the bends and welding. I find that some shops don’t even invest in pipe benders, because they’re 1.) Expensive and 2.) They don’t have enough use for them when they just would use a referral to another shop that specializes in custom work.
I mean there are a lot more choices these days. No one makes terrible cars anymore.BL pumped out a million Marinas and Itals in that time period. Enough said
Tell me about it, there is a range rover that has 575 HP engine... ON AN SUV! Back in the day, anything that hits 500HP is a track only car. I wonder what happened with technology that made average cars so speedy and packing so much horse power. Its still mechanical combustion engine...so what technological breakthrough did they discover to make so much power for the same price, I am talking like Nissan Altimas and Toyota Camrys here.
Nice mention on the M5 400HP. The 1999 M5 was literally a "super" car, I was there, and with 400HP on a super car it only shows where that Marauder stands with 300HP. It might sound abysmal now when a $30K Toyota Camry comes with a 300HP engine, but for its time it was something. To put things in perspective, 2002 Camrys came in 157HP only!
Whats going on with the 0-60MPH speeds? I am seeing average cars with mind boggling 4s and 5s...I remember with the Ferrari Modena was out it was 4.2s 0-60....4 seconds is a Ferrari performance car!