hello all! So my TT will be here in about a month. I am quite perplexed on what I should do for payment. I usually pay cash for cars or put a substantial amount down and finance.

This case is a bit different for me. I have never bought a car this expensive. As well, I have many cosmetic options (ie, stitching, painted exterior and int pieces, leather etc) that have really jacked the sticker price of my car up towards 140k. I very well know that these options, although costing money, will do NOTHING when it comes to resale value. This is why I am so tempted to lease, as I will likely not feel as much of an impact.

I have never leased a car before so I really dont know the inner workings of those types of deals. I know that you dont pay the full tax or gas guzzler taxes like you would if you pay cash or finance.

So, I am asking peoples opinions based on your experiences. I have enough cash to buy the car, but would obviously not do that as my cash earns me money through my investments, and a car is a depreciating asset. (if a car is 40k I dont mind paying cash, but this being 140k is a different story!). I could finance, but I owe the full tax and gas gizzler up front. plus, I take the depreciation hit on the "Extras" that really add no value.

Can someone explain the pros/cons of a lease for this type of car and clarify any errors I may have in my understanding of what I spoke of above?

thanks!!

 

Do you own a business?

If yes then lease it through your business as an expense.

If no then open a business and see line number one.

 

Hehe, what he ^ said.

No, but really.. I think leasing makes a lot of sense. First ask, how long do you want to own the car? If for several years, consider financing. If you see yourself in it for just 1-3 years, consider the lease.

Get a quote on lease payments, DP, sales tax (which are only on the monthly payment), etc... Add those up, for say, 36 months.

Then figure what you'd pay over 3 years if you financed it, including all of the sales tax, interest, DP, payments, etc. AND include a moderate opportunity cost of what this money could have done for you in your investments.

See which is less. Also with a lease, you don't have to worry about selling it at the end (a tedious process to me), but you do need to watch the mileage. Good luck!

 

I'm going to agree with the above posts. If your going to keep it for 1-3 years, than definitely a lease. If your asking these questions than your uneasy about something (That's very obvious) and if your worried about resale, that means you won't be keeping it forever.

So lease is soudning like the best bet. Hope you have a business to lease it through since that is the best financial way to lease in my opinion.

 

Check out board sponsor www.leasecompare.com I leased my last two cars there and their rates are by far the best.