Author Topic: Car Lease v. Buying (Read 170253 times)

Dan · « **Reply #600 on:** August 02, 2021, 04:33:28 PM »

Quote from: Lurker on August 02, 2021, 04:29:58 PM

If you sell it now before it needs repairs and still has significant value, you can lower the out of pocket cost on the van you have for the next 8 years.

True, but prices are sky high now. And the current gen Ody has much lower ratings than our previous gen.
And I wouldn't mind waiting until a competitive electric minivan exists.

Lurker · « **Reply #601 on:** August 02, 2021, 04:35:29 PM »

Quote from: Dan on August 02, 2021, 04:33:28 PM

True, but prices are sky high now. And the current gen Ody has much lower ratings than our previous gen.
And I wouldn't mind waiting until a competitive electric minivan exists.

On the contrary- used is sky high, while new hasn't risen nearly as much. Right now you can get the most value.

Dan · « **Reply #602 on:** August 02, 2021, 04:39:38 PM »

Quote from: Lurker on August 02, 2021, 04:35:29 PM

On the contrary- used is sky high, while new hasn't risen nearly as much. Right now you can get the most value.

I was able to get ~33% off my Altima in 2011 and ~20% off my Ody in 2013. From what I've seen getting under sticker now is nearly impossible, though I didn't verify that myself due to the other 2 factors.

CountValentine · « **Reply #603 on:** August 02, 2021, 04:43:05 PM »

Quote from: Dan on August 02, 2021, 04:39:38 PM

I was able to get ~33% off my Altima in 2011 and ~20% off my Ody in 2013. From what I've seen getting under sticker now is nearly impossible, though I didn't verify that myself due to the other 2 factors.

Went out car shopping last week with my daughter. They are at sticker or over. When you walk out they don't even call you.

Dan · « **Reply #604 on:** August 02, 2021, 04:43:31 PM »

Quote from: Dan on August 02, 2021, 04:39:38 PM

I was able to get ~33% off my Altima in 2011 and ~20% off my Ody in 2013. From what I've seen getting under sticker now is nearly impossible, though I didn't verify that myself due to the other 2 factors.

CNN saying average sales price for minivans last month was 8% above sticker

https://www.cnn.com/2021/08/02/success/minivans-cool-again/index.html

Dan · « **Reply #605 on:** August 02, 2021, 04:43:44 PM »

Quote from: CountValentine on August 02, 2021, 04:43:05 PM

Went out car shopping last week with my daughter. They are at sticker or over. When you walk out they don't even call you.

Wild!

CountValentine · « **Reply #606 on:** August 02, 2021, 04:43:55 PM »

Quote from: Lurker on August 02, 2021, 04:35:29 PM

On the contrary- used is sky high...

Only certain models.

CountValentine · « **Reply #607 on:** August 02, 2021, 04:45:11 PM »

Quote from: Dan on August 02, 2021, 04:43:44 PM

Wild!

Civic was 2k over sticker and after calling around they were the cheapest. I thought some dealers were closed because I seen no cars.

yitzgar · « **Reply #608 on:** August 02, 2021, 04:46:12 PM »

When is this all going to be over and back to normal?

CountValentine · « **Reply #609 on:** August 02, 2021, 04:47:51 PM »

Quote from: yitzgar on August 02, 2021, 04:46:12 PM

When is this all going to be over and back to normal?

We will end up with the new normal.

Lurker · « **Reply #610 on:** August 02, 2021, 04:48:19 PM »

Quote from: Dan on August 02, 2021, 04:39:38 PM

I was able to get ~33% off my Altima in 2011 and ~20% off my Ody in 2013. From what I've seen getting under sticker now is nearly impossible, though I didn't verify that myself due to the other 2 factors.

With those negotiating skills, you may be right. For the rest of us normies, new has more value than used right now (for most vehicles).

Quote from: CountValentine on August 02, 2021, 04:43:55 PM

Only certain models.

It's definitely more than a few. I'm sure there are models that doesn't apply to, but I haven't seen any myself.

yelped · « **Reply #611 on:** August 02, 2021, 04:50:28 PM »

Quote from: Dan on August 02, 2021, 04:33:28 PM

True, but prices are sky high now. And the current gen Ody has much lower ratings than our previous gen.
And I wouldn't mind waiting until a competitive electric minivan exists.

Did you look into the new Kia Carnival?

Did you get a quote to see how much your Odyssey is worth now?

CountValentine · « **Reply #612 on:** August 02, 2021, 04:52:38 PM »

Quote from: Lurker on August 02, 2021, 04:48:19 PM

It's definitely more than a few. I'm sure there are models that doesn't apply to, but I haven't seen any myself.

Have you been to a dealer and seen what they are giving on trade-ins or you talking about private sales?
Check out CarMax buy prices.

Dan · « **Reply #613 on:** August 02, 2021, 04:55:00 PM »

Quote from: Dan on November 03, 2013, 12:25:53 AM

8 years?
With taxes and fees you pay more than half the price of a car by the time you're done with a 3 year lease.
For the Ody I calculated a breakeven point of 65 months. If you keep it longer than 65 months then even if you throw it away you still come out ahead.

Though the truth is that the car still has great resale value even at that point. Of course if you leased you have nothing.

Funny looking back at this after 8 years.

Quote from: Dan on November 03, 2013, 01:01:04 AM