I don’t think I’m contemplating a “1 pay lease.” I will sell/trade my car to the dealer. With the proceeds, I’ll pay $5,000, which enters into how much my monthly payments will be. I will walk out with the remaining cash and make payments for three years, using the cash that I walk away with, and invest for a good return.
Thanks. I understand and appreciate your points. For now, I have nothing to lose. I paid a totally refundable, $1,000 deposit. That gives me first crack at the car when it arrives. If I don’t like the deal, I walk out with my $1,000. I’ve usually bought a new car every 2-3 years.
Ok then what is the basis of the assumption that you are not laying out cash or making payments? If you sell the car and using that money…you are paying…money? The car sale is not even at a profit.
I already explained that above, and I was unclear beforehand. I will sell/trade my car to the dealer. With the proceeds, I’ll pay $5,000, which enters into how much my monthly payments will be. I will walk out with the remaining cash and make payments for three years, using the cash that I walk away with. So, I will lay out cash in the form of a down payment and lease payments,
Yea I get that. What confuses me is your position that the money from your car sale is like…a profit or something that you are using to essentially ‘not pay’ for a lease. You bought the car you have…presumably for more than $37k. You are just getting some of that money back…and then using it towards paying a lease. When you say you like ‘not laying out cash or making payments’ it doesn’t make sense to me because…you are laying out cash and making payments.
I understand that. I’m speaking figuratively. I guess a better way to say it is that I’d like a new car, and I may be able to spend the proceeds of the sale to cover the cost for three years. Obviously, I’ll lose money on the sale of my car, as with any trade-in or sale of a used car. And I will have to come with money to buy the leased car or get another car. I’m sure lots of people get a new car every 2-3 years, and it’s not a profitable endeavor. I didn’t mean to imply that I’m getting a “free lunch.”
1 Like
Right so the dealer isn’t doing your any favors. You may get slightly more on your trade with them but they’ll just give you less discount on the new car to make themselves whole. When the car lands and they give you the lease breakdown, we will help you hack it.
If a car is listed for $39-40k I seriously doubt they will pay more than $32-34k and that is if they really want to make the deal on the other side (new car must be profitable).
I’m starting to think that you’re right. But, I decided to buy/finance instead of leasing. The sales rep told me I’d do better than selling them my car and leasing. Plus the tax credit is a few thousand bucks.