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#1
posted to rec.boats
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Affording Fuel
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#2
posted to rec.boats
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Affording Fuel
"jps" wrote in message ... In article . net, says... I don't know why anyone would purchase their car after the lease is up. In some states you will pay sales tax twice. I have had very good offers to keep cars, but not good enough to move to the next, new car. My 2002 Audi has about 20K miles on it and in near perfect condition. I could probably net a couple grand on it if I bought it and resold it. How long was your lease on it? |
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#4
posted to rec.boats
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Affording Fuel
"jps" wrote in message ... In article . net, says... "jps" wrote in message ... In article . net, says... I don't know why anyone would purchase their car after the lease is up. In some states you will pay sales tax twice. I have had very good offers to keep cars, but not good enough to move to the next, new car. My 2002 Audi has about 20K miles on it and in near perfect condition. I could probably net a couple grand on it if I bought it and resold it. How long was your lease on it? 48 mos. Financing was ridiculous and nothing out of pocket. It was my second lease with them and, although I'm attracted to the new a6 (mostly the interior), I'm also attracted to getting off the merry go round. Per our discussion, Volkswagen would still get its money out of the car vs. GM having to write off the difference between residual and the actual worth of the car. Audi had a great lease on its A6 and A4. The A4 was $349/mo. with zero out of pocket, 12,000 mi/yr, for only 24 months. The A6 was $569/mo. or $599/mo with the same terms. Obviously, the 24 month term was what I found most appealing. But I wanted to be under $500, so I didn't even drive the A6. The A4 was too small and too slow. I couldn't get used to a 4-cylinder after driving the G35...even if it was turbocharged. |
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#5
posted to rec.boats
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Affording Fuel
In article et,
says... "jps" wrote in message ... In article . net, says... "jps" wrote in message ... In article . net, says... I don't know why anyone would purchase their car after the lease is up. In some states you will pay sales tax twice. I have had very good offers to keep cars, but not good enough to move to the next, new car. My 2002 Audi has about 20K miles on it and in near perfect condition. I could probably net a couple grand on it if I bought it and resold it. How long was your lease on it? 48 mos. Financing was ridiculous and nothing out of pocket. It was my second lease with them and, although I'm attracted to the new a6 (mostly the interior), I'm also attracted to getting off the merry go round. Per our discussion, Volkswagen would still get its money out of the car vs. GM having to write off the difference between residual and the actual worth of the car. Audi had a great lease on its A6 and A4. The A4 was $349/mo. with zero out of pocket, 12,000 mi/yr, for only 24 months. The A6 was $569/mo. or $599/mo with the same terms. Obviously, the 24 month term was what I found most appealing. I couldn't do that. The thought of having to go through the hassle every 24 mos. is not appealing to me. But I wanted to be under $500, so I didn't even drive the A6. The A4 was too small and too slow. I couldn't get used to a 4-cylinder after driving the G35...even if it was turbocharged. I love the growl of the a4 3.0. I tried to squeeze into it after returning my 1999 a4 but couldn't justify it. Good thing too, I had 5 grown men in the a6 for business two weeks after taking delivery and too many times since. jps |
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#6
posted to rec.boats
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Affording Fuel
jps wrote:
In article . net, says... I don't know why anyone would purchase their car after the lease is up. In some states you will pay sales tax twice. I have had very good offers to keep cars, but not good enough to move to the next, new car. My 2002 Audi has about 20K miles on it and in near perfect condition. I could probably net a couple grand on it if I bought it and resold it. jps That means you either paid too much in depreciation during the course of your lease or you paid a large "cap cost reduction" so the residual value is higher. What you "net" on it in a sale would be a repayment to yourself for overpayment. You will also pay sales tax on the residual value since you never owned it in the first place. You would now be buying it from the bank. That can be avoided if you trade it in. As far as I can tell, leasing is a guessing game for the banks. They have to guess what the car will be worth after a certain period of time with a certain number of miles on the odometer. I have also traded in a lease right before its expiration date and picked up a grand, or so. I have traded in others that were essentially a wash just to avoid the return hassle. Dan |
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#7
posted to rec.boats
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Affording Fuel
In article ,
says... jps wrote: In article . net, says... I don't know why anyone would purchase their car after the lease is up. In some states you will pay sales tax twice. I have had very good offers to keep cars, but not good enough to move to the next, new car. My 2002 Audi has about 20K miles on it and in near perfect condition. I could probably net a couple grand on it if I bought it and resold it. jps That means you either paid too much in depreciation during the course of your lease or you paid a large "cap cost reduction" so the residual value is higher. What you "net" on it in a sale would be a repayment to yourself for overpayment. You will also pay sales tax on the residual value since you never owned it in the first place. You would now be buying it from the bank. That can be avoided if you trade it in. The reason I have a disparity of value at the end of the lease is that I don't put anywhere near the mileage on the car the lease anticipates. I'm 3 miles from work and, being in the NW, not on the road that much, not like folks in the NE who can drive through 5 major metropolitan areas in 5 hours. Most of our travel is by plane... As far as I can tell, leasing is a guessing game for the banks. They have to guess what the car will be worth after a certain period of time with a certain number of miles on the odometer. Right. I have also traded in a lease right before its expiration date and picked up a grand, or so. I have traded in others that were essentially a wash just to avoid the return hassle. I guess that depends on the dealer/financing folks flexibility. jps |
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