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Car Question/Options

Discussion in 'Money & Finance Forum' started by Trace, Jan 3, 2007.

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  1. Jan 3, 2007 at 3:37 PM #21
    Bootay

    Bootay Poppycock

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    Respect. I LOVE cars, but I just can't pay for them. Of course, I've got $45k in cars now, but that's paid for and PURELY for the kids safety and ease of transport. Luxury/Performance/SUV's are just insane - get a corolla and take a trip or do something else memorable. In the long run, having driven that car won't make you happier (although driving a total shitter is no way to be happy either), but those big experiences will...
     
  2. Jan 3, 2007 at 3:44 PM #22
    kshead

    kshead What's the spread?

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    I'm printing this out and stapling it to my wife's forehead.
     
  3. Jan 3, 2007 at 4:01 PM #23
    meatpile

    meatpile 7-9

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    Or do both. :hump:

    That said, the options he stated in the beginning were:

    Option one.

    BMW 325i

    Leased car coming up on the end of the 3 yr lease. Payoff 20K. Edmonds valuation 21-22K. Buy out the lease and keep the car. No financing. Could sell the car in a month or so but still would lose money due to taxes. about 1,400.

    Option 2:

    Turn in said car lease new one,328i 28 months, 60$ more a month. $1K down which includes first payment and fees. Have car payments and pay interest.
     
  4. Jan 3, 2007 at 4:50 PM #24
    Thelt

    Thelt Full Access Member

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    If money is not a concern then do whatever you like the best. If a new one makes you happier then get it if you like the current one keep it. The nature of the post makes me think it is about money, in which case buying a BMW does not make financial sense.
     
  5. Jan 3, 2007 at 4:54 PM #25
    meatpile

    meatpile 7-9

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    The nature of the post was exactly this:

    Option one.

    BMW 325i

    Leased car coming up on the end of the 3 yr lease. Payoff 20K. Edmonds valuation 21-22K. Buy out the lease and keep the car. No financing. Could sell the car in a month or so but still would lose money due to taxes. about 1,400.

    Option 2:

    Turn in said car lease new one,328i 28 months, 60$ more a month. $1K down which includes first payment and fees. Have car payments and pay interest.


    It involves money. It involves BMWs. It involves a decision based on BMWs, risk, convenience, fun, and money.

    I'm sure he could cut his transportation costs in a variety of manners - but that was not the nature of the post.
     
  6. Jan 3, 2007 at 5:03 PM #26
    Shrapnel

    Shrapnel Stinky

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    `
     

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  7. Jan 3, 2007 at 8:05 PM #27
    Southern_Yankee

    Southern_Yankee Full Access Member

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    Option 3:

    Tell the lender to fuck off and come get the car. Settle with the collection agency for 25% of what's owed or $5K. Take the other $15K and buy a boat...all before it hits your credit report. :xyxthumbs:
     
  8. Jan 3, 2007 at 9:47 PM #28
    meatpile

    meatpile 7-9

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    He doesn't owe anything. It's a lease that's expiring.:drums:
     
  9. Jan 3, 2007 at 10:55 PM #29
    Bunky

    Bunky .

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    i'm looking to sell a 97 accord wagon. about 90k on it.
     
  10. Jan 4, 2007 at 7:34 AM #30
    Southern_Yankee

    Southern_Yankee Full Access Member

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    did you ever get that steering column fixed? :newsmile31:
     
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