My lease is up in 4 months

[Duck Vader]

What are you going to lease?

[Chris95RT]

Going to see if I can't lease a low end edge or escape from the dealer I leased my edge from.

[Chris95RT]

Unless someone has a better idea.

I like the idea of 300/mo with <2k down.

[ChargerX3]

Why not try the equity route? Even better if you have sufficient cash flow to purchase a 5-8 year old vehicle outright. There are cars out there that tend to hold their value well especially when purchased at a certain age. Then after a couple years flip and do it again if something else comes up. You can be out $0 or even make a profit.

Example: Bought my wife a 2010 MDX with tech package 2 years ago for $15,000. Has all the creature comforts like Bluetooth, ventilated seats, leather, entertainment, sat, etc. Car is still worth what I paid then, if not a little more. So far my wife loves it and doesn’t show signs of wanting to let it go, but if she changes her mind in the next couple years we should be just fine.

[aaronatstate]

Raptor.

[Chris95RT]

It's the downpayment that I want to divert towards something that appreciates in value.

I think the X1 wouldn't be a bad purchase, and could put ~5k down on one to get the payment reasonable. And I really like the car.

However I feel like in 3-4 years that 5k would be better off as equity in the house, do you disagree?

Im open to opinions. It's just a lot of liquidity I'm set to lose in the near future, and I'm trying to figure out the best way to direct my resources.

[ChargerX3]

Yes you would want to put more money towards your home. Especially since your liquidity is low. In that case I would purchase a much more affordable yet still reliable car. Buy a $5,000 car and make the best of it until circumstances change. Otherwise your lease depending on term will cost you at least $10k+ starting (not including interest) at just 2 years and even more if longer.

With the $5k car you can later trade in or sale on your own and at least have some equity. Lease you have nada and you pay interest and other possible charges.

[Duck Vader]

That's what I said earlier

[DCIV]

[quote=""Chris95RT""]Going to see if I can't lease a low end edge or escape from the dealer I leased my edge from.[/quote]

This thread went downhill.


Coop

[alienviking]

Driving a crapbox sucks though.

[Chris95RT]

Oh, now you have me thinking.

The break even point is roughly 10-11k, just not sure a higher mileage car is worth it though with where and how much I drive. The payment goes down to 200 bucks a month too.

But a quick scan did put a lot of BMW, Audi and a few GTI's in that price range.

[Chris95RT]

And a lot of shitty Honduh and Kias

[vr4]

[quote=""ChargerX3""]Yes you would want to put more money towards your home. Especially since your liquidity is low. In that case I would purchase a much more affordable yet still reliable car. Buy a $5,000 car and make the best of it until circumstances change. Otherwise your lease depending on term will cost you at least $10k+ starting (not including interest) at just 2 years and even more if longer.

With the $5k car you can later trade in or sale on your own and at least have some equity. Lease you have nada and you pay interest and other possible charges.[/quote]
This.
[quote=""alienviking""]Driving a crapbox sucks though.[/quote]

It does but sometimes it's the smart thing.

I did it for a few years to get myself out of a hole.

[alienviking]

[quote=""vr4""]
It does but sometimes it's the smart thing.

I did it for a few years to get myself out of a hole.[/quote]

I concur. At times it is definitely the right choice and almost required. I drove an absolute crapbox for a few years right after college. But not sure it is necessarily that for Chris.

[DCIV]

I deff drove a shit box for many years to equal things out. Honestly still kind of do. But driving a nice car has its plus sides.


Coop

[alienviking]

If you spend a lot of time in a car it is important to be comfortable in it and trust the car. The second I don't trust the CTC to take me on a 10 hours road trip to a race fully loaded with gear is the second I trade it in.

[Chris GTO TT]

I'm currently driving a shit box because I can't decide what I want.

[DCIV]

[quote=""Chris GTO TT""]I'm currently driving a shit box because I can't decide what I want.[/quote]

Correction. Everyone wants to much for everything.


Coop

[Duck Vader]

Lincoln is currently doing $0 down lease offers on a couple of their crossovers.

[vr4]

[quote=""Duck Vader""]Lincoln is currently doing $0 down lease offers on a couple of their crossovers.[/quote]

Lincoln has a raptor?