How many of you lease/finance your vehicle?

[nbaker00]

Hey,

I'm just curious to see how many of you lease or finance your vehicle as opposed to pay cash for it?

I find that in our dealership, between 80-90% of people are financing so I'm curious if that trend is approximatly the same on Beyond with all the millionaires we have!

Feel free to post or just vote annonymously.

[TYMSMNY]

I think most people will on here will vote "paid for in cash"

[nbaker00]

Originally posted by TYMSMNY
I think most people will on here will vote "paid for in cash"

I already see that trend starting in the poll lol
Oh well, whatever makes them feel good...

[TYMSMNY]

Yea.. but paying cash for a $1000 car is a lot different than a $50,000. Lots of people lease on here due to their work. It should be an interesting poll.

[broken_legs]

I'm interested to hear financial reasons for leasing as opposed to buying.

taking out a loan to buy a car in cash shouldn't count either.

Yes, I bought both of my 2000 dollar cars all cash.

[marko polo]

Originally posted by broken_legs
I'm interested to hear financial reasons for leasing as opposed to buying.

tax write off

[Jason Lange]

I lease my truck (it is a work vehicle) and I paid cash for my personal vehicles (supra and 300zx).

[TYMSMNY]

Leasing = write off the payments
Cash/Financing = write off the depreciation

[Destinova403]

i paid cash for my car... it wasnt overly expensive by some peoples standards but i worked my ass off through high school and saved up every penny for it.

[kenny]

When dealerships are offering 0.9% financing, you'd be a fool not to finance it even if you had the "cash".

[Crymson]

Well, it seems the trend is to have very low financing rates right now. I've seen alot of 0.9 and 0.0% rates. You'd be silly to pay cash at those rates, when that 60k could be working for you at the same time.

EDIT: Or say exactly what Kenny did, in more words. What a succinct bastard.

[Ajay]

I financed my car when I bought it. I still have a couple of years remaining on it.

Most people I know that have purchased cars have financed them from the dealerships because of the attractive rates and the prices being on par with US prices.

[jampack]

One consideration on some instances about financing/leasing is its contribution for your line of credit.

[Masked Bandit]

While I agree that paying cash for a new car when you can finance for 0% or 0.9% seems silly, one could argue that it's silly to buy brand new anyway (and I'm talking about personal vehicles here, not work related.....that's a whole other tax discussion).

Let's look at a $40,000 vehicle. IF you are set on buying new then financing at a low rate is definitely the better way to go. However, buying that same vehicle at two or three years old for $25,000 cash looks pretty good too.

[autumnrain]

Originally posted by nbaker00
Hey,

I'm just curious to see how many of you lease or finance your vehicle as opposed to pay cash for it?

I find that in our dealership, between 80-90% of people are financing so I'm curious if that trend is approximatly the same on Beyond with all the millionaires we have!

Feel free to post or just vote annonymously.

Do you work at porsche?

i'm leasing my car,
but my sister who just brought a car paid like $1700 worth of interest (2.9%) for 66 months. why would anyone not want to keep the cash and do something else with it.

[rc2002]

Originally posted by kenny
When dealerships are offering 0.9% financing, you'd be a fool not to finance it even if you had the "cash".

Exactly. They're practically giving you a free loan.

[nbaker00]

Originally posted by kenny
When dealerships are offering 0.9% financing, you'd be a fool not to finance it even if you had the "cash".

Yep, we have 0% financing on all our models right now so we havn't had a single cash buyer on new vehicles for 2-3 months.. It's basically free money to the purchaser.

Originally posted by autumnrain


Do you work at porsche?

Nope, South Deerfoot Suzuki
www.southdeerfootsuzuki.com

[SilverRex]

Originally posted by Crymson
Well, it seems the trend is to have very low financing rates right now. I've seen alot of 0.9 and 0.0% rates. You'd be silly to pay cash at those rates, when that 60k could be working for you at the same time.

EDIT: Or say exactly what Kenny did, in more words. What a succinct bastard.

exactly

plus you know the value of money only goes down over time. so leasing it or financing it on a fixed near 0% payment is the way to go

with 60k had you drop it on Visa IPO you could have walked away 30k richer. as an example.

[blownz]

Originally posted by kenny
When dealerships are offering 0.9% financing, you'd be a fool not to finance it even if you had the "cash".

Except that many times if you take the ultra low financing rates you give up extra cash incentives there may be. So you might save 3 grand in interest but pay 5 grand more for the vehicle. Not always the case, but sometimes 0% interest isn't worth it.


And I have paid cash for my last 3 vehicles. And yes cash and not loc or other loan. All 1-2 years old and nothing fancy (all under 37k) so it isn't too impressive but I like doing it this way.

[topmade]

We Leased our 07 Sienna. At the time they offered 1.1% which was a lot better then the finance rate. It will be bought out at the end of the 3 year term and we'll be keeping it for 10+ years so we didn't care too much about depreciation.