new ride SOON :)

yes and no but the payments are good and then i f i want to buy the car afterwards its not much then if i want to sell after its bought ill still get my moneys worth for it cause its a toyota(corolla's sell better then any other toyota cause the name is good)

If the qualtiy is as good as the older ones you will have no trouble and wont regret it as far as maintnence concerns.

PhotoShark wrote:

yes and no but the payments are good and then i f i want to buy the car afterwards its not much then if i want to sell after its bought ill still get my moneys worth for it cause its a toyota(corolla's sell better then any other toyota cause the name is good)

That's a general misconception.....because after a 5 year lease, you might still have to take out another loan to buy it out. What is the "Buy-out" price????? Unless you have $10,000 sitting around when the lease is up, guess what you would end up owing up to 8 years of payments (5 for the lease, 3 for the buy=out) when all is said and done. And after 8 years you might be lucky to sell it for $3000. Just because it's a Toyota doesn't guarantee a high re-sale value. Do the math...cars are not an investment....houses/property is

buyout price is 4100

what is the actual selling price of a 09 Corolla??

leasing is not the way to go, its just as bad as renting a house. if your gonna pay for something atleast have something to show at the end, paying 5 years on a lease then having no car isnt my thing. if i pay 5 years i want to own it.

14,565 msrp

Ok. Were gonna do some math.

245$/Month x 60 months = $14 700 + $4 100 to buy out car = 18800.....

-hotdog wrote:

Ok. Were gonna do some math.

245$/Month x 60 months = $14 700 + $4 100 to buy out car = 18800.....

good job dude...however, we forgot to calculate the taxes on that price

and for $14,565msrp...that sounds like a base model. No way a Corolla Sport or CE is $14565....Sport is usually $19995msrp

and 5-8 years from now....what will be your resale value on that base model???

actually its 248.00 taxes levies and delivery included and thats with a 2500dollar down payment

Optimus Prime wrote:

-hotdog wrote:

Ok. Were gonna do some math.

245$/Month x 60 months = $14 700 + $4 100 to buy out car = 18800.....

good job dude...however, we forgot to calculate the taxes on that price

I thought about that, then i remember running around with my buddy when he was lookin for a car and the dealers always gave him his payments with the taxes and fees or w/e in.


NOW,
with a 2500$ down payment, you just upped your total cost to $21 300.

yeah, basically you're getting ass raped, because you still, after all those calculations have to add taxes and fees on to your buyout price.... ur fucked.

Do you actually have the car yet... or are we doing all this calculation based on a pipe dream that you might get one...

IronHide wrote:

yeah, basically you're getting ass raped, because you still, after all those calculations have to add taxes and fees on to your buyout price.... ur fucked.

Do you actually have the car yet... or are we doing all this calculation based on a pipe dream that you might get one...

No we dont have to add the taxes and fees. Dealers generally give you the prices with the taxes included. Either way though, Ass rapeage is definitely in the future.

Your buyout price won't include taxes and or fees, because there's no way to predict what the taxes/fees will be in 5 years time.... not to mention if you have to refinance it at that time.... your buyout price should not include tax.

IronHide wrote:

Your buyout price won't include taxes and or fees, because there's no way to predict what the taxes/fees will be in 5 years time.... not to mention if you have to refinance it at that time.... your buyout price should not include tax.

i agree.....been there many times for the wife's vehicles

IronHide wrote:

Your buyout price won't include taxes and or fees, because there's no way to predict what the taxes/fees will be in 5 years time.... not to mention if you have to refinance it at that time.... your buyout price should not include tax.

so add another 500$ top to the price.

or subtract if the tax rate goes down again

-hotdog wrote:

IronHide wrote:

Your buyout price won't include taxes and or fees, because there's no way to predict what the taxes/fees will be in 5 years time.... not to mention if you have to refinance it at that time.... your buyout price should not include tax.

so add another 500$ top to the price.

don't forget interest rates if he refinances. Worst thing is you pay interest on the taxes. So that $4100 buyout is more. It's only $4100 on the spot....granted if you have saved $4100 after 5years. If he refinances the $4100 at oh 5%, that $4100 is now higher.....or whatever depending on interest rates and what PRIME RATE is at that point in time. Could get costly down the road. My question still stands. Would it be worth it after 5-8 years??

blu.thunda wrote:

or subtract if the tax rate goes down again

not sure what you mean here??

car dealershits are in it to make money....not lose it. You see those low interest rate cars are usually those lot sitters taking up space. Only way to clear the lot is to give the customer a low rate as a lure. Bait and hook

Optimus Prime wrote:

blu.thunda wrote:

or subtract if the tax rate goes down again

not sure what you mean here??

car dealershits are in it to make money....not lose it. You see those low interest rate cars are usually those lot sitters taking up space. Only way to clear the lot is to give the customer a low rate as a lure. Bait and hook

all i have ot say is, your getting hooked in. Too bad no good.
lets get durnker.

but at my financial situation thats the best i can get and thats my decision and you can say what you want but its an import and the resale value on those cars are not bad so even if i do decide to buy it at the end i can still make some form of money on it.also im establishing my on credit line without having to risk someones name with mine. so in other words my ass is on the line if i dont make the payments and not my parents.

stop thinking that you'll "make" money in the end... if you're buying a car new.... it's simply NOT even a little bit likely that you'll ever recoup any of that money. Between interest and depreciation, you'll ALWAYS be behind on a car purchase. It's almost always a losing investment, and unfortunately a Corolla doesn't fall outside of that losing category, regardless of what the resale value might be in 5 years, which btw won't matter because you'll either have to buy the car or return it to the dealership, you can't sell it.

But congrats on trying to be independent, it's a good feeling to buy a new car all by yourself. Just don't get disillusioned and think that it's profitable investment.

Buddy of mine leased a civic 2 years ago. he has 1000 km's left. to last him to march. and all he does is drive around town and a few trips to the valley for golf. his buy out is 15000 or certAin amount per km over or something.. hes still going to get fucked directly in the ass.. i wouldnt lease if my life depended on it. i would rather frive a 5000 car then a 20000 leased vehicle.

i remembered my parents leased a car and we went over our mileage heavy...like a lot....they payed for it for a long time after.

i could finance it for an extra 40 bucks a month lol