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Lichi
what what!?
Member since 5/05 4206 total posts
Name:
Lissette
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Buying/Leasing/Financing a car....
DH & I have been talking about getting a new car. Talking/wanting & doing are two completely different things, but we share the inquisitive part of wanting to know how it all works.
Realitically, how much does it cost to get a car? There are many deals out there with the $0 down, and $199/month... but is that where it ends? Are there extra fees, and/or hidden costs they don't advertise in commercials? And not to mention car insurance... full coverage is a must when leasing/financing, right?
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Posted 7/5/05 11:39 AM  |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: Buying/Leasing/Financing a car....
Posted by Lichi
DH & I have been talking about getting a new car. Talking/wanting & doing are two completely different things, but we share the inquisitive part of wanting to know how it all works.
Realitically, how much does it cost to get a car? There are many deals out there with the $0 down, and $199/month... but is that where it ends? Are there extra fees, and/or hidden costs they don't advertise in commercials? And not to mention car insurance... full coverage is a must when leasing/financing, right?
well i think that depends on the car and how savy you are in dealing with salesmen.
I would know every little detail about the car you want before even talking to a salesmen.
And yes if you are leasing you need full coverage..
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| Posted 7/5/05 11:41 AM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: Buying/Leasing/Financing a car....
$0 down $199 a month would ahve to be a VERY inexpensive car with a very long financing term. Usually witha lease you have MORE due at signing bc of security deposits, etc, I think if you have good credit you CAn roll it over into the lease, but that just increases the payment. I think Toyota has some leases under $200, but they were with about $2000 down. With financing you stiull need comprehensive, but with leasing you need MORE coverage, so the premiums will be a lot higher. We just bought a car, and we did a SmartBuy type of thing where we pay for 3 years (lower than a finance payment, a little more than a lease), and then at the end of 3 years we can turn the car in in, pay the balloon or refinance the rest, For us this worked out well because we didn't have a downpayment large enough to get the payments on a straight finance down where we needed them to be, and also we will definitely have more money in3 years once I've graduated college and started working full time, so then we can afford to increase the car payments and pay it off within a year or two. it's better than a lease because we don't have to keep such a high level of insurance, we are the titleholders of the car
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| Posted 7/5/05 11:46 AM |
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Lichi
what what!?
Member since 5/05 4206 total posts
Name:
Lissette
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Re: Buying/Leasing/Financing a car....
Do car payments end up to be like paying for rent?
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| Posted 7/5/05 12:11 PM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: Buying/Leasing/Financing a car....
Posted by Lichi
Do car payments end up to be like paying for rent?
less expensive but yes!
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| Posted 7/5/05 12:12 PM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: Buying/Leasing/Financing a car....
Posted by Lichi
Do car payments end up to be like paying for rent?
In what way?
Witha lease yeah because you're ALWAYS paying. With financing it ends after a few years. I'm SO happy because we just sent in the FINAL payment on my car. it's such a relief!
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| Posted 7/5/05 12:20 PM |
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Lichi
what what!?
Member since 5/05 4206 total posts
Name:
Lissette
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Re: Buying/Leasing/Financing a car....
I'm afraid of paying $700-1000 of car/ins payments, when I could be saving that, and just keep my hoopty accord... 
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| Posted 7/5/05 12:23 PM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: Buying/Leasing/Financing a car....
We just bought a brnad new car and with a smartbuy kind of thing we pay a lot les than what you mentioned for our insurance and payments combined. (and our isnurance is high b/c we're under 25)
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| Posted 7/5/05 12:25 PM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: Buying/Leasing/Financing a car....
what kind of car are you looking to get?
ANd how much can you put down?
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| Posted 7/5/05 12:26 PM |
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Lichi
what what!?
Member since 5/05 4206 total posts
Name:
Lissette
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Re: Buying/Leasing/Financing a car....
Posted by Redhead
what kind of car are you looking to get?
ANd how much can you put down?
Anything that's newer than my '91 Accord... lol. Most likely an SUV, though... which I know cost more than 4-doors.
And we can put $2-3Gs down without feeling like we're depleting the savings. Does the down make such a huge difference, though?
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| Posted 7/5/05 12:38 PM |
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Lichi
what what!?
Member since 5/05 4206 total posts
Name:
Lissette
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Re: Buying/Leasing/Financing a car....
Posted by marymoon
We just bought a brnad new car and with a smartbuy kind of thing we pay a lot les than what you mentioned for our insurance and payments combined. (and our isnurance is high b/c we're under 25)
I'm gonna have to look up this smartbuy thing. 
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| Posted 7/5/05 12:38 PM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: Buying/Leasing/Financing a car....
online (i think edmunds,cm has this)myou can do a payment calculator and see how much of a difference the DP makes.
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| Posted 7/5/05 12:39 PM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: Buying/Leasing/Financing a car....
Posted by Lichi
Posted by Redhead
what kind of car are you looking to get?
ANd how much can you put down?
Anything that's newer than my '91 Accord... lol. Most likely an SUV, though... which I know cost more than 4-doors.
And we can put $2-3Gs down without feeling like we're depleting the savings. Does the down make such a huge difference, though?
Well if you are buying yes how much you put down certainly does make a difference on the payments..So does tha amount of years you choose to finance.
IMO if you are wanting a SUV then i would lease! Putting 2-3K on them really wouldn't make that much of a dent and YES you will be paying a lot in payments and in insurance AS WELL AS GAS!
Message edited 7/5/2005 12:45:04 PM.
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| Posted 7/5/05 12:44 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: Buying/Leasing/Financing a car....
I don't like leases or "smartbuys" because if you look at the fine print... you are always paying more in interest.
Most of these deals... interest can run anywhere between 3% and 6%.
There are so many cars you can buy out there for under 3% of interest... a good amount of cars are offering 0% interest which is a big deal.
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| Posted 7/5/05 12:45 PM |
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luvsun27
Check out my cool glasses
Member since 5/05 8135 total posts
Name:
Kim
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Re: Buying/Leasing/Financing a car....
Why not buy a used car? DH and I just bought a 2004 Explorer...it was about 12K less than a new one...only had 20,000 miles on it and was fully loaded (leather seats, moonroof, etc).
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| Posted 7/5/05 12:54 PM |
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Bxgell2
Perfection
Member since 5/05 16438 total posts
Name:
Beth
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Re: Buying/Leasing/Financing a car....
I leased my 2001 VW Cabrio, and WHAT A PAIN. The interest is usually higher on a lease, insurance is high, and you're literally getting NOTHING at the end of the lease, except for getting whacked with a huge turn-in fee for any excess miles and wear and tear (usually ends up being between $1k-$2k). This time around, DH and I bought a used 2002 Suburu Outback with 20,000 miles for only $15k. We put a $2k down, and will end up paying no interest because we transferred the rest to a zero balance credit card that we'll pay off by the end of the zero interest term. That way we aren't paying interest, no turn-in fees, lower insurance, and as well, we aren't losing out on the first few years of significant depreciation in buying a new car.
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| Posted 7/5/05 1:34 PM |
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ckdk
My girls
Member since 5/05 7027 total posts
Name:
Cheryl
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Re: Buying/Leasing/Financing a car....
i have always been a fan of buying cars...Like the pp said, you get NOTHING at the end of your lease. At least now i will get something when I sell my car, and I have no payments. I financed for 4 years.
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| Posted 7/5/05 1:55 PM |
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Lichi
what what!?
Member since 5/05 4206 total posts
Name:
Lissette
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Re: Buying/Leasing/Financing a car....
You still end up paying fees & interests whether you finance or lease, though, right?
Red, I was doing a lot of wishful thinking when I said I wanted an SUV... lol. I would LOVE to get a 2002-2004 Land Rover, but know it's not a reality for me at this point in my life.
Beth, you bring up a GOOD point... we could EASILY put the purchase on a zero balance credit card, and pay off by the end of the no interest term.... if I could only find a zero balance no interest for 10 years credit card, though...  
One thing I HATE about cars... is that you lose no matter what you buy.... unlike a house where there's always a profit *sigh*.
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| Posted 7/5/05 2:10 PM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: Buying/Leasing/Financing a car....
Posted by Lichi
Red, I was doing a lot of wishful thinking when I said I wanted an SUV... lol. I would LOVE to get a 2002-2004 Land Rover, but know it's not a reality for me at this point in my life.
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i would like one too!
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| Posted 7/5/05 2:14 PM |
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DebG
Pick a cause & stand up for it
Member since 5/05 18602 total posts
Name:
The cure IS worse!
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Re: Buying/Leasing/Financing a car....
I say buy pre-owned as well. We just got a preowned Mazda Tribute that has 14,000 miles on it and our monthly payment is a measly $218!
ETA- We did not put any money down but did get 2k for our trade in.
Message edited 7/5/2005 2:20:54 PM.
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| Posted 7/5/05 2:15 PM |
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Lichi
what what!?
Member since 5/05 4206 total posts
Name:
Lissette
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Re: Buying/Leasing/Financing a car....
Posted by Redhead
Posted by Lichi
Red, I was doing a lot of wishful thinking when I said I wanted an SUV... lol. I would LOVE to get a 2002-2004 Land Rover, but know it's not a reality for me at this point in my life.
.
i would like one too!
I'll check to see if they're handing them out like flyers, and hold one for you.
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| Posted 7/5/05 2:27 PM |
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TAD
LIF Adult
Member since 5/05 1199 total posts
Name:
Terri
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Re: Buying/Leasing/Financing a car....
Posted by Lichi
Posted by Redhead
Posted by Lichi
Red, I was doing a lot of wishful thinking when I said I wanted an SUV... lol. I would LOVE to get a 2002-2004 Land Rover, but know it's not a reality for me at this point in my life.
.
i would like one too!
I'll check to see if they're handing them out like flyers, and hold one for you.
I need one too
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| Posted 7/5/05 2:30 PM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: Buying/Leasing/Financing a car....
Posted by Lichi
Posted by Redhead
Posted by Lichi
Red, I was doing a lot of wishful thinking when I said I wanted an SUV... lol. I would LOVE to get a 2002-2004 Land Rover, but know it's not a reality for me at this point in my life.
.
i would like one too!
I'll check to see if they're handing them out like flyers, and hold one for you.
thanks much....and if you can..i like silver
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| Posted 7/5/05 2:30 PM |
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Lichi
what what!?
Member since 5/05 4206 total posts
Name:
Lissette
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Re: Buying/Leasing/Financing a car....
Ok, now you're just being picky...
Message edited 7/5/2005 2:34:47 PM.
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| Posted 7/5/05 2:34 PM |
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TAD
LIF Adult
Member since 5/05 1199 total posts
Name:
Terri
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Re: Buying/Leasing/Financing a car....
Seriously, Let me get this straight it would be better to put 2000.00 down do you think on a newer car to lease or should I honestly buy a used car if they can be financed? And if so what style would be the best for a family of 4
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| Posted 7/5/05 2:35 PM |
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