DFWMS Financial gurus, school me on automotive leases

[Grimpala]

it worked for them, but I wouldn't recommend it... there's only so good a deal you can get on a brand new vehicle, and I'm sure they didn't haggle much.

the way to do it is the way I've been doing it for the past 6-7yrs... buy used, buy right, pay cash, drive for 6-12 months and sell for profit or break even

I see you went to the Whiteboy school of automotive purchasing.

[Cooter]

I see you went to the Whiteboy school of automotive purchasing.

been driving "free" vehicles for about 10yrs now... I can't go back to actually paying for them now

[slow99]

This struck me as a strange thing to say. Sacramento is the fourth largest metropolitan area in California after the Greater Los Angeles Area, San Francisco Bay Area, and the San Diego metropolitan area as well as the 25th largest in the United States.

It struck me as strange because "alot" isn't a word.

[Grimpala]

been driving "free" vehicles for about 10yrs now... I can't go back to actually paying for them now

That's kind of what I'm doing in a round about way.

Bought my burb for 1000, got 1000 in the chassis, and depending on what I spend on the donor truck I should have a running driving 72 Suburban 3/4 ton 4x4 with a duramax/allison for under 15,000.

[Cooter]

That's kind of what I'm doing in a round about way.

Bought my burb for 1000, got 1000 in the chassis, and depending on what I spend on the donor truck I should have a running driving 72 Suburban 3/4 ton 4x4 with a duramax/allison for under 15,000.

wouldn't call that "free"

but I'd certainly call it pimp

[Grimpala]

wouldn't call that "free"

but I'd certainly call it pimp

Not free by any means, but cheaper than new. Plus if I get to the end and decide I want something different I should be able to sell it for well above 15k.

And Pimp it shall be. If I could only decide on a color.

[Cooter]

yes, you're right... there are a few guys who make decent money doing dmax burbs

and white is the obvious choice

[Taylor]

yes, you're right... there are a few guys who make decent money doing dmax burbs

and white is the obvious choice

White = service truck imo. Midnight blue ftw.

[Grimpala]

yes, you're right... there are a few guys who make decent money doing dmax burbs

and white is the obvious choice

My current truck is white and I love it, it looks clean a lot longer than the wife's dark blue Jetta.

However, I'm leaning towards a kelly green of sorts or the original pale blue with white top. if I go the second route it would have black steel wheels with the thin crome trim rings on it.

[Grimpala]

My current truck is white and I love it, it looks clean a lot longer than the wife's dark blue Jetta.

However, I'm leaning towards a kelly green of sorts or the original pale blue with white top. if I go the second route it would have black steel wheels with the thin crome trim rings on it.

But with 33's or 35's

[Cooter]

can't hate on that!!!

[broke again]

But with 33's or 35's

This for sure, cant beat that factory color combo.

[Big A]

This struck me as a strange thing to say. Sacramento is the fourth largest metropolitan area in California after the Greater Los Angeles Area, San Francisco Bay Area, and the San Diego metropolitan area as well as the 25th largest in the United States.

I guess it's "small" to me, because most of my customers are state agencies that are within a 5 mile radius of the capitol building. I've got other customers that are out of the city a bit, corrections for example, but most everybody else is downtown.

It's not a small city, but everything is centrally located.

[CJ]

The way I always explain auto leases is from my 10 years in the auto finance world - Lease companies always try to sell you the depreciation factor, but never bother to mention the money you net when you sell that vehicle eventually. Generally the only vehicles that should be leased are vehicles over 80k, in which their depreciation in a given amount of time exceeds the net gain of their sale. It's all math. When I'm at auction, most of the lease turn backs are Porsche 911's, Mercedes AMG's, etc. etc. I've seen many, MANY lease turn backs and the final numbers, generally the above rule applies rather well. And also consider I'm not even factoring in mileage overages and other fees/charges you will most likely accrue.

[Big A]

The way I always explain auto leases is from my 10 years in the auto finance world - Lease companies always try to sell you the depreciation factor, but never bother to mention the money you net when you sell that vehicle eventually. Generally the only vehicles that should be leased are vehicles over 80k, in which their depreciation in a given amount of time exceeds the net gain of their sale. It's all math. When I'm at auction, most of the lease turn backs are Porsche 911's, Mercedes AMG's, etc. etc. I've seen many, MANY lease turn backs and the final numbers, generally the above rule applies rather well. And also consider I'm not even factoring in mileage overages and other fees/charges you will most likely accrue.

Is there wiggle room on that $80k? I'm looking at leasing a new M3, $60kish, which is why I'm looking at a lease as a possibilty. I really don't see me getting even pay-off in two years or so, which is why I thought that leasing would be a viable option.