Quote:
Originally Posted by Ubetit
With all the mods you've done like cutting bumpers and hoods and dipping your car, I'm surprised to hear you say you leased yours.
|
I don't think people truly understand a lease. It's still my car no different then a purchase. At any point I can break the the lease to sell it out right, trade it in, go to a bank and get a check to pay nissan off for the buy out price, mod it, etc etc. its still my car 100%. ONLY issue is if I turned it in at lease end and the car wasn't mint. But no one does that!!! You'd be a fool to turn it in to have someone go over it with a fine tooth comb to charge you extra money.
You only go and 1. trade it in (the price will be the residual plus any payments left and plus or minus the actual blue book trade in value. Sometimes you make money, sometimes you owe money), 2. sell it out right (the buyer needs to give you whatever you want which will probably be residual and or any payments left so you break even. But again if the car still holds a high value you can ask for more money and make money. All depends on the market), or 3. buy it for the residual plus any payments left from your bank and carry on.
I plan to buy it off nissan for 21-22k and carry on. The entire time I'll own the car with a lease/purchase my payments will be around $400. This keeps my wallet more full to buy parts and go do track days. If I would have purchased the whole time for 6 years my payment would have been around $600. So for 6 years I'd of been out of pocket $200 a month which kills my play money. I will however pay out more with the lease/purchase vs a straight purchase in the end but I look at like a credit card. You borrow money now for fun and pay a little in interest over time. For me a little extra money in interest is ok to have and get what I want now. If I wasn't ok with that philosophy then I'd pay for everything cash, cash for cars, and cash for a home! But I'm not rich so I borrow and pay someone interest.