[pianotech] vehicle lease

[Gerald Groot]

To each his own but I like to pay cash myself.  $2,000 down for starters goes along way towards a nice down payment on good used vehicle and they are around, it just takes a little looking to find one.  We have to pay for the tires etc., on our own cars..  No difference there.  35 x $256 a month = $8,960.  Plus $2,000 = $10,960 plus oil changes, plus tires, plus brakes plus….  That’s a lot of repairs.  J  That’s how I look at it anyway.  J  

 

I bought a nice Caddy that was in (still is) excellent condition with less than 80,000 on it, literally showroom condition, engine and all with a boat load of paper work, tire changes, oil changes to go along with it for $5,000 less than 2 years ago.  It’s a 1997.  Who cares for that price, I don’t.  You’d never know it to look at it either.  

 

Now, I have close to $120,000 on it but, no serious issues at all so far.  Gas mileage is 28-32 on the highway on long trips.  18-24 in the city, on average (depends on how many times I floor it) and it goes like a scared rabbit if I want it too…  Depends on what a person wants but, that’s my preference.  I’m a big guy, I like the bigger cars.  J 

 

I deduct mileage at I think it’s .58¢ a mile, (?) that = $7,000 a year for me as an average deduction on 25,000 miles every single year.  

 

Dave Ramsey doesn’t recommend “fleeces.”  J  

 

Jer  

 

From: pianotech-bounces at ptg.org [mailto:pianotech-bounces at ptg.org] On Behalf Of Tom Driscoll
Sent: Monday, November 07, 2011 4:38 PM
To: pianotech at ptg.org
Subject: Re: [pianotech] vehicle lease

 

 List,
i just checked my mileage and I drove 12 k miles last year and  I could cut down on the mileage with some discipline.One quote received was for 15,000 miles per year. They want  $ 2000 down (hopefully that's my trade in value). which includes the first payment and all the misc. charges and fees , then 35 payments @ $256 per month. 
The Kia soul has a ten year- 100.000 mile  bumper to bumper on all the big stuff. I'm responsible for oil change, tires ,batteries brakes etc. The fuel economy will be 10 MPG better.
Food for thought and any input appreciated of course.
 Tom D.

 

 

On 11/07/11, Gerald Groot<tunerboy3 at comcast.net> wrote:

I drive 25,000 + miles a year so leasing isn’t practical for me either.  Too costly for the additional mileage.  Most only allow 12,000, some, up to 15,000 miles a year.  

 

Jer

From: pianotech-bounces at ptg.org [mailto:pianotech-bounces at ptg.org] On Behalf Of John Ross
Sent: Monday, November 07, 2011 3:04 PM
To: pianotech at ptg.org
Subject: Re: [pianotech] vehicle lease

 

Depends on your mileage.

Lease price is 100% deductible, assuming business vehicle. Otherwise just depreciation, and interest on the loan is deductible.

A lease didn't make sense in my situation, as there was a premium for the extra kilometres/miles I needed to drive.

With a purchase, you may have some years free of payments, not possible with a lease.

Things down there may be different.

John Ross

Windsor, Nova Scotia

On 07-11-2011, at 3:44 PM, Tom Driscoll wrote:

 

List,

  Anyone out there lease their service vehicle ?

My Hyundai Santafe has been great but it's bigger than I need and I'm at the tipping point so to speak. That is big $ repairs on the horizon.

 I'm thinking about a fuel efficient little wagon --Kia soul, nissan cube. Chevy  whatever it it's called.

 Any way your collective thoughts, experiences appreciated.

 Tom Driscoll

 

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