A ticket to vegas costs about $400. 3 nights at the Aria on the poker rate is about $500, meals comped. Plus a $1000 stake to play which sometimes turns fruitful and pays for itself. Since I work a real job for a living I can afford to go a couple of times per year. Right now though I dont really feel like I can go at all.



Nobody wanted to discuss the lease out option, everyone just started talking about the concept of affordability and making dumbass jokes about chicks recognizing my car and whatever the ****. We're moving forward here, we're talking about A LEASE, A LEASE, enough with the prior mistake, thats why I made this thread. I dont need to be lectured about how to budget since clearly I am already aware of my mistake. I am no car buying guru, and wasnt even sure if my logic about a lease made sense or if there was something I wasnt thinking about.

And no I'm not a little f'king kid who walked on to a ford dealership. I spec'd this car out for 4 months and had it custom ordered straight from Ford manufacturing and delivered with 5 miles on it still wrapped in plastic. I have purchased both new and used cars before and completed 2 leases to date. But I never had a really "cool" car. I got a new job paying more money and figured I deserved it, and that I'd totally love every minute of it while doing it. It wasnt so much as a financial decision as it was a treat. But please, go on and vent your frustrating because you got called out for being of little use in this thread.



No there are not lots of specifics needed to know. I'm not asking for financial planning here or calculations to merit the savings of leasing vs buying. The question was simply whether or not I am correct in my assessment that the negative EQ rolled into a lease would be effectively wiped out when the lease ends, or if theres something I'm not thinking about. Because having leased 2 cars before it seems to make sense. I just dont want to get caught with a "gotcha" because I signed something keeping me liable for thousands of dollars in residual value somehow. If a dealership is willing to lease a 16k car for 21k to me and it puts my payments about 40% less than what I'm paying then it sounds like a good deal, almost too good.

It's neither, the question is do I want to save $20,000 right now and then have a clean slate in 3 years to do it right the next time. Obviously the NET cost will be a loss, but what I lose over the next 5 years is worth it to get back on track with current finances.

The difference between my mustang and an econo car is more than just the monthly payment jackass. My mustang costs me about $10,000 a year to own. Premium gas, premium oil, premium cleaning products, etc etc etc.

Oh I'm sorry, is it a low end sports car? Is my definition not satisfactory to you? I guess high-end means only driving a 2013 McLaren? It was high end to me, and costs more than the average car. Get over yourself, and please dont return to this thread. I'm sure there are some kids you can shout at over your xbox live connection while playing Halo you basement dweller.

Dude, there was nobody even giving you crapp and you just bi-polar raged all over everyone in this thread...one guy gave you a hard time about teh fact you bought a Mustang and were calling it a high end sports car and a bad ass car etc. and thats IT......you are trash.

Cap217 is asking some basic questions to try and help you since he has good advice on these things I've seen in the past...but you wont even answer him.

I am pretty sure we all thought you owned an Aston Martin or something and the costs were much different.

I just still do not understand your assessment of a lease being a good value here considering the money, AT ALL. Which is why no one is responding to this plan without knowing WHY THE HELL YOU WANT TO DO THIS IF YOU CAN AFFORD TO MAKE PAYMENTS.


If you had an Aston Martin worth $60K and you owed $80K and were making $1,200 a month payments...OK, I get that, but you don't.

Your idea is to lose $5,000 dollars, giving up a car under warranty and go pay $1,000-$2,000 upfront on top of that to get into a leased car to save $250ish a month for which will require you to lease it for a minimum of 36-48 months at which point you will have no trade value, or equity at all?

Oh, and you save like $100 a year because you wont have to buy "premium" oil, and will save another $1000 buying gas .15 cents cheaper (you said you don't drive that much), and wont have to buy the "premium" mustang cream to clean your neato high end sports car?

Whatever....and no worries, I'll bounce out of your ******ed thread.

Impressive trolling I must say. I havent answered Cap's questions yet because I've been dealing with people like you. Go back and read the thread and find anything helpful and on-topic.

As for the lease, the $5k I lose by taking out a personal loan I'll make back in a year from saving $250/month. I dont need to provide 2k upfront to get a lease, you can get leases with no money down, I've done it twice now. Putting money down on a lease just lowers your payment that much further. With no down payment and leasing a projected total of 20k for 36 months my payment would be less than $300/month. Nobody ever really has equity in a car since the only way to obtain said equity is to dump a bunch of money on it up front to offset the depreciation. I can suddenly gain equity in my mustang right now if I felt like lighting $15,000 on fire. Then I could stop paying $220 per month on gas and stop getting $120 oil changes and spending 3 hours detailing my car every other weekend (the only non-essential component to my car budget).

But I suppose you didnt think of any of this, because you dont really think at all do you. You just had some knee-jerk reaction because you felt like getting on your high horse and entering a thread about car leasing, something you have probably never done, and then proceed to talk from your anus like you know a thing or two. Like I said earlier, I think you have better things to do. I'm sure theres someone else out there who is wrong on the internet about something which could use your dire attention and total inexperience.

LOL ugh this is so ******ed, why am I even responding.

What are the numbers guy?

You want advice on this and you still haven't posted them.

This is really f'ing simple to figure out if we have the numbers.

So what is your interest rate/monthly payments and payoff on this car.

What is the year and model type of your mustang with options.

What car would you plan on leasing, and under what terms (length, down payment etc.) - not all leases are $0 down.

Any good promotions being offered on a lease you are looking at? (free oil changes etc.)

How many miles on average do you drive a year?


You are right, I've never leased a car, I've always purchased brand new, besides my current truck which I did buy used. I purchased new because I purchased vehicles that I knew I really wanted, held their value well, had great warranties, and since buying new I received 0%-2.9% financing and I knew I would drive them for at least 5 years....and I did. I would certainly consider a lease though, and see good value to do so in some spots/cars.

And of course you can have equity in a car, it just takes time.

In 2 years you can sell that car for more then you owe if you take care of it and keep the mileage down....however, if you did sell it now and took a lease for 3 years, even at half the current payments and saving some gas money and "spending 3 hours detailing it every weekend with expensive Mustang special cleaners", I am pretty confident long term you are losing here if it comes down to money. Period.

Why dont you post the numbers though and we can do your homework for you.

it is - its a poor mans sports car - there's nothing wrong with that, just gotta call a spade a spade.

I was really trying to help but this isn't going anywhere. There is no need to argue because math is involved and we can find a solid concrete answer. If you want to post numbers then let's do it.

Ps

$2500 down
39 month lease
15k miles year
1% money factor
Buick regal 2013 32k car

$320 month

That's quite enough of OP's douchebaggery.

Go find advice elsewhere, not that you're going to listen to anyone else anyway.