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11-21-2023, 12:23 PM | #23 | |
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If you get a $30000 car for $360/month that would be $1500 month for a $125,000 car. Last edited by gblansten; 11-21-2023 at 12:36 PM.. |
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11-21-2023, 12:34 PM | #24 |
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I think we need t be careful not to judge people's wants/desires etc. I mean it makes no objective sense to drive anything but a RAV4, but hot damn 30K for 18 months made me yelp in pain.
1% of MSRP seems very low on a lease. So if a vehicle is $70K you're paying $700? On what planet? That'll be closer to $1200. Last edited by Alfisti; 11-21-2023 at 01:04 PM.. |
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11-21-2023, 12:49 PM | #25 |
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$55.55 per day. You know how many families in a developing country that would feed?
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11-21-2023, 01:03 PM | #27 | |
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You're basically saying that a vehicle on a 36 month lease should have a residual value of around 73-75%. That is not a realistic number for a luxury vehicle, or the manufacturer is giving a large discount. And that's assuming interest rates closer to last year numbers. The Ghost/Wraith you mention sit around 25% residual loss after 3 years which means you'll have 90-100k in depreciation. I can tell you by looking up Edmund numbers for various Porsche's, that they aren't giving you anything close to 75% on 3 year leases for nearly any model. Their actual residual may be better but they aren't passing those off to their lease customer. Last edited by strohw; 11-21-2023 at 01:15 PM.. |
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11-21-2023, 01:26 PM | #28 |
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Looks like he is trying to get Peter Rawlinson (Lucid Motors CEO) the highest-paid auto industry CEO for the second year in a row despite all the financial problem Lucid is currently facing... if so, make perfect sense.
Lucid’s Peter Rawlinson is highest paid auto CEO in 2022 with $379 million compensation Lucid 2022 Revenue: $608 million Lucid 2022 CEO Pay: $379 million https://www.teslarati.com/lucid-pete...4379%20million. |
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11-21-2023, 01:28 PM | #29 | |
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I leased a $39k Wrangler for $360/month, paid $0 up front, and then sold it for $8k more than my payoff when the lease ended. Net cost was around $100/month. In general, leasing is terrible for most cars, especially Porsche as they have some of the worst lease rates of any manufacturer. BMW heavily subsidized their leases for years. I leased a 335d for a payment that was around 0.8% of MSRP with nothing up front, but that was also years ago obviously. |
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11-21-2023, 01:35 PM | #30 |
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It's not just interest rates chief, it's inflation.
We just bought out our STelvio, we were paying $825 a month all in, including taxes etc with no money down. The EXACT same vehicle with less options is now $1,145 a month. |
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11-21-2023, 01:35 PM | #31 | ||
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Where did I say you should go lease a new Wraith/Ghost? Used cars exist. Would I rather have a used Wraith for 3 years that I might lose $20-30k on or a new X6M that I'm guaranteed to lose $60k on? Easy choice for me. That's just an example, there's plenty of other nicer cars than an X6M that won't lose anywhere near $60k in 3 years. |
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11-21-2023, 01:39 PM | #32 | |
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https://forum.leasehackr.com/t/signe...380-das/510563 Here's the second link on that page, a Volvo EV with $58k MSRP for $321/month: https://forum.leasehackr.com/t/signe...-36-10k/510517 Took me 10 seconds to find those. More: Q8 E-tron with $81k MSRP for $780/month - https://forum.leasehackr.com/t/signe...00-msds/509975 $1165/month for an $182k e-Tron RS - https://forum.leasehackr.com/t/signe...fective/510145 $120k e-tron GT for $480/month with $5k due at signing - https://forum.leasehackr.com/t/signe...500-msd/507530 |
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11-21-2023, 01:43 PM | #33 | |
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11-21-2023, 01:47 PM | #34 |
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11-21-2023, 01:56 PM | #35 |
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YESSSSS another lease vs BUY thread its been soo long
there is no way leasing makes sense overall in long term ownership of a car. Maybe if you get incentives and then buyout. Now i am sure some people on the fourm have the money to blow. hell I could lease 3 Lucid whatevers this guy has and still not really effect me. but still its kind of bonehead to me and I am a frugal guy. to each their own, if you got the money then fuck it. Now if you underwater, or in debt(personally)....which most are in leasing as its a means to drive something you can't afford. then I mean whatever as well. AMErrriKAAaaaaaaa People have this notion that cars needs to be replaced every 3-5 years which is total utter bullshit. again if you have fuck you money do as you please. buy cars can EASILY last 10+ years with minimal maint |
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11-21-2023, 01:56 PM | #36 |
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11-21-2023, 02:12 PM | #37 |
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$1165/month is the effective rate, which would include everything other than any MSDs. But what does MSD's have to do with anything? You get those back at the end of the lease, so your "cost" on them is the 5% interest you'd lose by not having that cash in your bank.
I literally just posted 5 examples of under 1% leases and those were all within the first few posts on leasehackr. This is not some big secret... |
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11-21-2023, 02:18 PM | #38 | |
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11-21-2023, 02:27 PM | #39 |
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11-21-2023, 02:27 PM | #40 | |||
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Wouldn't people who read your paragraph assume you're talking about new vehicles? Am I the one who is confused with what you were saying? Quote:
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11-21-2023, 02:29 PM | #41 |
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11-21-2023, 02:34 PM | #42 |
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I agree that leasing is almost never the right call for a private owner but corporate leases are a whole different thing tax wise.
Also if I was going to look at an EV I would absolutely lease as who know what the market will be in three years and I would rather let the lessor take the risk. |
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11-21-2023, 02:35 PM | #43 |
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I agree with this as manufacturers use both leasing and financing to move certain vehicles and there isn't always a parity on the methods used. Or a great example is the EV cars in this thread that get a $7500 lease credit that isn't give on the fiance side.
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11-21-2023, 02:36 PM | #44 |
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The Ridgeline and Wrangler are niche markets? I didn’t say every car is available with an under 1% deal, I said that’s what a good deal is and then posted several examples with minimal effort required to search for them after being told it’s not possible. Obviously if the residual value sucks, the money factor is high, and you can’t get a good price then the lease is going to suck too.
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