lol depends which card your referring too, some have balances some don't. I'm just saying if you don't have 4k in the bank you shouldn't buy a 35k+ car. Does that make sense? You need to plan for things called contingencies, i.e. losing a job, kids, car problems, accidents, insurance, and in your case beer monies.. It's wise to have a cushion.

Read his reply, he said "I'm a type of a person that don't have that much money to put down"

To me (OPINION) only, you should not be in an Infiniti dealership, or ANY new car lot if you are a "type of person that doesn't have much money to put down". You should get a pre-owned car. There is nothing wrong with that.

It's called living beyond your means, have you heard of it beer man?
That's just like the show off who goes and buys a new Porsche without owning a home and lives in his mothers house. Simply not a wise decision if you speak with ANY type financial advisor. Carry on sir.

 

You can have 100K in the bank and not want to put 4K down. It's all about cost to own or use. If you want to buy a 24K car at 500/month or lease a 45K car at that price the cost is the same to run.

 

^ Omg you just want to talk... Yes you can have 100k, and if you did you wouldn't say your the type of guy that doesn't "have" much monies to put down, you'd say I don't "want" to put monies down. Two totally different financial situations. I was speaking of this one, good day sir. Sorry I angered you.

 

Sorry to say this, but dropping $4K down on a lease is stupid and a FAR CRY from a "GOOD DEAL".

 

well it is cheaper in New York to pay the taxes and bank fee up front instead of putting it into the payment so you pay interest on it. I'm aware some states you do not have the option when you lease.

it's all a mental game...some people just want to hear a monthly payment low



when we had 12 month leases people put down $2000-$3000 to have a low payment-- 12 months later, they walked away realizing they rented a luxury car and threw money away and got nada out of it.

tons of people live three steps ahead. its true how many people think they're cool living with mommy and daddy and leasing a luxury car but that is their choice

 

So true.

 

+1

Its not wise to put any money down on a lease. Why put money down when in 3 years you'll be returning the car.

If you're trying to lease an expensive car and trying to get it within your budget with a down payment, then you're the one who is making financial mistake.

 

I understand you guys, but I have a serious question. I do not have a lease. But what's the difference if you put monies down on a car, and sell it before it's paid off, in the majority of the time if you sell/trade the car in your upside down depending on your down; don't you lose the monies and "rent" the car as well? Just asking because I always buy my cars, and get rid of them within 5 years and feel I "rent" the car as well lol.......... Ive never kept a car more than 5 years and the only time I was in the positive was when I had mustangs. I lost money on my 07 G35, and my 08 G37 and sure I will lose money on my 09 G37.......... am I renting cars and just as foolish as lease people?? or would I be better off leasing?

 

^^^
you are foolish.. since you get bored of your car FAST, you should be leasing.


Finance is to purchase to own. So now your just rolling over old debt onto new debt. In the end you'll end up in the hole or have to Lease a low priced new car to get out, and still pay high payments.



Edit..
you are not foolish..lol

 

You are not foolish. I like to trade in my car every 2 years also. I like purchase because I control everything. I can trade in whenever I want and I don't have to be worry when I need to put 20k miles per year.

However, if you don't have money to pay in full, it's cheaper to lease this car than taking out a loan. I don't have a loan, so, my depreciation after 2 years is about the same as the total lease payment. If I can find a place where I can earn 5% on a CD, I might want to lease instead but it has to be a 24 months lease.

 

I must of skipped that part of him actually purchasing his car in full..


you are not foolish.

 

That makes sense, I buy them so I can mod them, but either way I see it as losing money (down payment) lease or buy. You can put a down payment on a buy, drive it off the lot, and your down payment is gone either way you look at it, you "lost" the monies. Unless your keeping your car forever I really don't see the difference.

If I didn't mod the car, I think it would be actually smarter to lease. What's the point in keeping a car for 4-6 years, paying it off + interest, just to sell it for 30% of what you paid. In reality you rent the car, and lose a lot more than a lease customer.

 

Putting "money" down on a lease is fine if you want to pay less per month. A lease is a negotiated payment of the car. If you have a $50,000 car and the lease is basically 50% of the value you have to pay $25,000 to use the car. If you put "money down" you just lower the monthly liability. Some people may like to write a check for $4,000 at the lease start and pay less a month. Some want to pay more. Since you pay the taxes on the payment per month you will pay a little less.

But I still have to laugh at people who think you don't put money down, or it's dumb. It's not dumb...it's all just math.

 

not just math...

negotiate the price of the vehicle best you can. On a lease you're paying the residual price of the purchase price.

I negotiated with BMW on a 46k car, walked out with a fully loaded ride at 580 month, no money down, 3 yr lease. Putting 4k down would of only brought the car to 540.

now I saved about 3k by not putting a down payment.

 

Writeoffs or company cars. Some people have company car allowances, and they'd rather have a one time expense to get that car into the monthly payment range that would be covered by the company.

Others can only write off a portion of their car payment, and need it to be at a certain payment monthly.


What would I do? Take the high payment and minimal down. If that car is totalled as I drive it off the lot, gap insurance on the lease will cover the entire car with no liability to me. Had I put money down, I would eat the depreciation on the car.