2017~2024 Lease end conditions and possible charges?

Status
Not open for further replies.
If you buy a car for 30 grand
That's simply something I won't do. I buy a few year old cars for $10-12 thousand in cash, letting some other sucker take that absolute beating for the first couple years of depreciation. Then I drive it until the maintenance simply gets too expensive. My Mazda 3, I bought at 7 years old with 114,000 miles for $5,600. I drove it until last November when it started using oil at 230,000 miles. Then I sold it for $3200. So, my depreciation was only $2,400, not $24,000! You speak of using someone else's money? Well there it is.

My new car is a 2013 CX-5 that had only 82,000 on it, as clean as if it was brand new, and a full service history down to the wiper blade changes. I paid $9,200 for it, and I suspect I'll have it for at least 10 years, if not longer.
 
You're absolutely right, as far as it goes. It depends where you're willing to spend money. I've never bought a new motorcycle, and have sold most for as much as I paid for them a few years later. And I like working on them and doing most maintenance myself. The one I have now I paid 9G's for in '09, have been on it for 12 years and I could probably turn it for about 4500. It listed for 15G's in '05 new so it's a been a fair deal, since I've gotten more than the difference in enjoyment out of it and it's still going strong.

But I hate screwing with cars, so it's worth it to me to roll 'em every three years and never worry about anything more than an oil change. And the advances in the tech, particularly in the safety department, make it a worthwhile expenditure to me. The lane centering / warning noise might have saved me and my wife's ass once on a long drive after a too much fun weekend when I got drowsy and started to drift out of my lane onto the shoulder. I probably would have caught it in time, but the self centering and rumble noise certainly didn't hurt.

Like most things in life it's just a matter of how you want to use your money. One man's waste is another's worthwhile toy...
 
You're absolutely right, as far as it goes. It depends where you're willing to spend money. I've never bought a new motorcycle, and have sold most for as much as I paid for them a few years later. And I like working on them and doing most maintenance myself.

Talking about bikes, this is my current project: a 74 CL125 that I'm restoring. It's going to be sweet when I'm done with it!

IMG_20210122_174814269.jpg
 
It is always cheaper to buy a car with cash, new or used. That being said, the used car market is insane right now. I helped sell my niece's 9 year old Nissan Rogue with 131K miles on it, and she got 5,000 for it, parked in my yard for 4 days. I was shocked she got that much.
 
That's simply something I won't do. I buy a few year old cars for $10-12 thousand in cash, letting some other sucker take that absolute beating for the first couple years of depreciation. Then I drive it until the maintenance simply gets too expensive. My Mazda 3, I bought at 7 years old with 114,000 miles for $5,600. I drove it until last November when it started using oil at 230,000 miles. Then I sold it for $3200. So, my depreciation was only $2,400, not $24,000! You speak of using someone else's money? Well there it is.

My new car is a 2013 CX-5 that had only 82,000 on it, as clean as if it was brand new, and a full service history down to the wiper blade changes. I paid $9,200 for it, and I suspect I'll have it for at least 10 years, if not longer.
And say the person bought that CX-5 with cash. They would have paid 18K for it, say 19K, and after owning it for 7 years they got $9,200 for it. So they paid $9,800 over 7 years or $116/month.
 
Talking about bikes, this is my current project: a 74 CL125 that I'm restoring. It's going to be sweet when I'm done with it!
Nice! I owned a CB350 and a CL350 long ago. I crashed one and it disappeared off the side of the expressway and I never saw it again. The other one was a dog, but after I recovered I took it out to see if I still had the cajones to ride. As I was riding along it literally shot out one of the plugs from the cylinder head and it landed about 10 feet away on a lawn. I took this as a sign, parked it and just walked away. I got a registered letter about 5 years later from someone who had it in their garage and wanted me to pay for storage. I went to their house and explained it sure wasn't me that had put it the garage, and made them hand it over. I parked it behind a friend's house while I was deciding what to do with it and it was stolen from there. Life can be funny sometimes...
 
This thread seems to have run its course.
It does seem like it has...A reminder for everyone, please do keep threads on topic and for those that are straying off topic, please try and get them back on track, much appreciated, thanks!

Thread closed.
 
Status
Not open for further replies.
Back