Considering a new car. Need some advice

Get a used Accord and pay it off in < 2 years.

Otherwise, go for the 6s.

 

You will be pleased with the gentle depreciation of the Accord or Camry, but honestly, the Camry would be too bland even for me!

I think in 2 or 3 or 4 years at trade in time, the other cars you mention will give you heartburn!

Depreciation is a REAL cost of ownership, take it seriously.

 

How much money are you planning to put down?

 

Grab the new Accord Hybrid Sedan. You will be very happy with this car.

 

Leasing is a waste of $.

 

Someone can correct me if I am wrong, but you certainly DO have to worry about depreciation even when leasing. The monthly cost of the lease takes that into account. When you lease, you are basically paying the monthly depreciation of the car (plus some taxes and profits for the company). I think leasing and financing are pretty equal if you plan on trading in a financed car at the same time as the leased car. If they weren't almost equal (tax benefits aside), everyone would be either financing or leasing, whichever was much less expensive.

 

This has been discussed many, many times, and there are a lot of different opinions. Basically, if you plan on financing and trading in your car every 2-4 years, then leasing may be better for you. If you finance and keep a car for a long time (7-10 years or whatever), then you can save a lot of money.

With leasing, I believe you only pay sales tax on the depreciation, so that saves a bit of money.

The fact that you have a guaranteed buyer when the lease term is up is also a benefit - but again, only if you plan on selling your financed car in 2-4 years.

About being upside-down, there are a lot of factors there, including down payment, depreciation, term of the loan, etc. I financed my car about a year ago, and I put a lot down, so I won't be upside-down even if I were to sell it today.

 

PS - about the car selection thing... I think the Toyota camry would be very reliable, but as the doc says, it's really boring looking. The accord is very nice. The VW Passat is nice as well, but might be a little more money. GO test drive them all... preferably on the same day, so you can make your own comparison. Hope that helps

 

Passat or Accord.

 

Yer right, I did kinda miss the part about leasing, therefore the depreciation is built into the payment and residual, you are right as rain there!!


Here's an Idea!


Buy a $3000 Accord or Camry, take the extra $8000-$10,000 you save over the next 4 years, put it in a nice total Stock Market ETF like IYY and buy a Ferrari in 15 years!

Or you could repeatedly lease a nice new Passat or Accord every 3 years and 15 years from now you will have.....NOTHING!!!!

Your choice, wise choices ending with a Ferrari, or the seductive, easy immediate-gratification ending with empty pockets.

 

Saab 9-2X Linear(non turbo) can be leased for less than $250 a month with little money down. Also 9 3 Saabs can be leased for around the same price range but you will have to put more money down. Do you have access to friends or family who work for an automobile company? The Camry is a safe and reliable car and you really won't go wrong with it if you choose that one. You may be able to find an 04 GTO on a lot and lease it for around $300 a month but then insurance costs will most likely be too high. I know you listed the Passat. Do you like Jetta's? They too can be leased for less than $300 a month. Mazda 3 5 Door is another car I would take a look at. I have never looked at the lease rates for it though. I would assume it is less expensive than the Mazda 6 I think it is better looking than the Mazda 6. If you get the Mazda 3 5 door it comes with a lot of standard items and even 17" wheels that look great.

 

The new BMW 3 series as mentioned above has a great lease right now and it is a fun car to drive. Great deal for 300 month.

 

It's hard to come up with a blander list of cars than that!

How about a Mini Cooper S -- have some fun while you're at it...

 

ditto. I would go with a 3er or perhaps a Benz C something. (not the mini hatchback thing)