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+--- Thread: buying out my lease - refinancing my ride... (/showthread.php?tid=660)
buying out my lease - refinancing my ride... - 60FeetUnderWater - 06-17-2003
Got any advice?
Gotta meet up with the dealership tonight to discuss "the numbers". I plan on not making ANY decision tonight...is this a good strategy?
Do I have the right to still request the original dealership invoice for the car I leased to establish the true price of my car? I plan on crunching the numbers at home afterwards to construct my "counter-proposal".
Does that sound like a good plan?
I know I want to buy this car - I leased it when it only had 10 miles on it. I love driving it and hell, I already poured so much money into it....makes sense to me to just buy it out.
I just never went in to the lions den by myself before.
buying out my lease - refinancing my ride... - Rooner - 06-17-2003
Cant help ya bro, Ive never paid more two grand for a car, never had a car newer than 5 years old.
buying out my lease - refinancing my ride... - Ronin - 06-17-2003
of course you can get that stuff.. you should be able to.. i leased my car and then bought it after word.. what a pain in the ass that was..
Quote:I already poured so much money into it....makes sense to me to just buy it out.
what did you do to it?
buying out my lease - refinancing my ride... - Luna - 06-17-2003
Quote:Originally posted by fhore twenteeDon't make any decision right away.
Got any advice?
Gotta meet up with the dealership tonight to discuss \"the numbers\". I plan on not making ANY decision tonight...is this a good strategy?
Do I have the right to still request the original dealership invoice for the car I leased to establish the true price of my car? I plan on crunching the numbers at home afterwards to construct my \"counter-proposal\".
Does that sound like a good plan?
I know I want to buy this car - I leased it when it only had 10 miles on it. I love driving it and hell, I already poured so much money into it....makes sense to me to just buy it out.
I just never went in to the lions den by myself before.
I've never bought a car at the end of any of my leases, but, I will tell you they are a bunch of hard-ons. Usually it's the leasing co. that you buy it from not the dealer.
buying out my lease - refinancing my ride... - 60FeetUnderWater - 06-17-2003
Ronin - it's not like I suped the car up or anything. It's just that I've made so many payments on it; If I were to lease a new car or buy a different car - all of that money that I've paid into this car becomes WASTE. Ya feel me?
Luna - Got ya. I know for SURE that I will not be making any decisions tonight. As a matter of fact, this meeting tonight resulted after a game of phone tag between me and the guy who originally sold/leased me the car. I told him I'd meet him BRIEFLY to discuss the numbers adn then I would make my decision sometime after that. I said nothing else.
First time, this guy took me for a nice ride...(long story as to how & why I allowed it to happen...)
But not this time. not again. :nod:
buying out my lease - refinancing my ride... - Ronin - 06-17-2003
yeah, i understand.. that's how i felt about my car.. that why i bought it.. 98 honda accord lx.
buying out my lease - refinancing my ride... - Sloats - 06-17-2003
Quote:Originally posted by fhore twentee
Ronin - it's not like I suped the car up or anything. It's just that I've made so many payments on it; If I were to lease a new car or buy a different car - all of that money that I've paid into this car becomes WASTE. Ya feel me?
Luna - Got ya. I know for SURE that I will not be making any decisions tonight. As a matter of fact, this meeting tonight resulted after a game of phone tag between me and the guy who originally sold/leased me the car. I told him I'd meet him BRIEFLY to discuss the numbers adn then I would make my decision sometime after that. I said nothing else.
First time, this guy took me for a nice ride...(long story as to how & why I allowed it to happen...)
But not this time. not again. :nod:
Leasing = Renting
Buying = Mortgage
Since you are not trying to attain an asset, merely just paying for use and depreciation, leasing is not nearly as much as buying. Usually about 75%. Now if we could only get k1d in here to talk about the joys of leasing....
buying out my lease - refinancing my ride... - 60FeetUnderWater - 06-17-2003
Sloats - you lost me a bit...I do agree with your "formula/equation"
This is why I'm trying to buy or "mortgage" this car now...
Originally - this salesman was trying to convince me that I can terminate this lease (6 months early) and get a new car (via leasing)
I told him I was not interested in leasing again. That I was only interested in either buying this car out or, if the numbers aren't good for me, I'd go out and just pick up a used car.
(and of course, I said this for negotiating/leverage sakes)
I also plan on saying things like "well, so & so dealership offered me a brand new blah blah blah for X amount of $s"...
They like to play games, these people.
I can play too, damn it.
buying out my lease - refinancing my ride... - Six-Pack - 06-17-2003
Do you hate yourself that much that you would deal with car salesmen twice on the same car? I still have aneurisms from when I bought my car in early '01
buying out my lease - refinancing my ride... - Sloats - 06-17-2003
What I am saying is that the money you poured into it, is not nearly as much as it should have been had you desired to buy the car. A $300 Lease would be a $400 Loan for the same period.