CL65 lease
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Joined: Jan 2004
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From: Denver, CO USA
2003 CL55, 2006 M5, 2008 Land Rover LR3
I would guess that if you can afford a $170,000 car you would not be interested nor need to lease it. I bought a Mas and the guy almost fell out of his chair laughing when I was curious about risiduals. Once you hit a price point you got it - no need to lease it.
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ITA with the above post....if you can afford it, why lease? But I've heard that you get a tax break if you lease, is this true? I've also heard that if you have a business it's a good idea to lease. Also, credit and down payment is also a factor. But, I would think the lease would be about $2500-2700.....that's just a guess.
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From: Sunny South Florida
1995 Jaguar XJS Convertible
Originally posted by trd277
I would guess that if you can afford a $170,000 car you would not be interested nor need to lease it. I bought a Mas and the guy almost fell out of his chair laughing when I was curious about risiduals. Once you hit a price point you got it - no need to lease it.
I would guess that if you can afford a $170,000 car you would not be interested nor need to lease it. I bought a Mas and the guy almost fell out of his chair laughing when I was curious about risiduals. Once you hit a price point you got it - no need to lease it.
I can afford to finance a Maserati, but why would I want to take a depreciation hit when I can lease, and only pay for the portion of the vehicle I "use".
IMHO, unless you plan on keeping a vehicle forever, financing a vehicle is as much a poor use of money as a 30 year, fixed-rate mortgage.
Last edited by Mr. Xristo; Jun 16, 2004 at 10:40 AM.
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There's a very good reason why you could afford to purchase it outright but opt to lease it: fixed residual value.
These cars depreciate like mad. Knowing I wouldn't want to keep the car more than about 3 years, I wanted to know in advance what amount of depreciation I'd be eating.
If you buy it outright and later trade it, you're completely at the mercy of the whims of the market. Witness the $105K sticker 750iL I traded against the CL600 and received $27K for :-)
- Dave
These cars depreciate like mad. Knowing I wouldn't want to keep the car more than about 3 years, I wanted to know in advance what amount of depreciation I'd be eating.
If you buy it outright and later trade it, you're completely at the mercy of the whims of the market. Witness the $105K sticker 750iL I traded against the CL600 and received $27K for :-)
- Dave
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From: 20854
new balance
Thanks for the above statements....I am about to sell a condo that I own and I will have about 275k after capital gains. The above reasons are why I believe in leasing....I believe in paying for the usage of a vehicle.... for when Iam done with them in 3-4 years they are worth nothing and then you are writing off nothing as well....I find that my money is better spent on buying another condo, leaseing the vehicle under a businesss entity and then write off the usage. FYI...I was just curious about the numbers....I think its way too expensive of a vehicle relative to what can be done to a CL600 with brakes, suspension, ECU and trans software, and some lightwetight wheels......
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From: Sunny South Florida
1995 Jaguar XJS Convertible
Originally posted by E55JAY
Thanks for the above statements....I am about to sell a condo that I own and I will have about 275k after capital gains. The above reasons are why I believe in leasing....I believe in paying for the usage of a vehicle.... for when Iam done with them in 3-4 years they are worth nothing and then you are writing off nothing as well....I find that my money is better spent on buying another condo, leaseing the vehicle under a businesss entity and then write off the usage. FYI...I was just curious about the numbers....I think its way too expensive of a vehicle relative to what can be done to a CL600 with brakes, suspension, ECU and trans software, and some lightwetight wheels......
Thanks for the above statements....I am about to sell a condo that I own and I will have about 275k after capital gains. The above reasons are why I believe in leasing....I believe in paying for the usage of a vehicle.... for when Iam done with them in 3-4 years they are worth nothing and then you are writing off nothing as well....I find that my money is better spent on buying another condo, leaseing the vehicle under a businesss entity and then write off the usage. FYI...I was just curious about the numbers....I think its way too expensive of a vehicle relative to what can be done to a CL600 with brakes, suspension, ECU and trans software, and some lightwetight wheels......
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From: McLean, VA
S4
Originally posted by Mr. Xristo
if you are only planning living in your new condo for a few years, I would highly recommend looking into an Interest Only Mortgage.
if you are only planning living in your new condo for a few years, I would highly recommend looking into an Interest Only Mortgage.
pros and cons of interest only loan as I see it:
pros:
lower monthly payments
lower interest
all payment is tax deductable
cons:
no payments go toward principle
must refi/renogotiate/sell property after initial term, under mercy of market/interest rates
any others you can think of??
