IsmailG

Think I made a mistake (car lease)

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Lease was up on my wife's 2018 Honda Civic, car was immaculate with only 12k miles. I was going to just buy out the lease and finance the remaining 12k owed on it and blue book value was around 16k. But I was like let me see what kind of deal I can get on a new one. The dealership was basically begging me to give back the car, I know they will give it a wash and vacuum and sell it for 16k by the end of the week and told them that. So they gave me a trade-in value of 3k for the car and 1500 in incentives towards a new civic in the color my wife wanted plus all weather mats. I'm happy with the deal, but part of me thinks I could have had more leverage using the old car and shopping around with it. Oh and also my insurance went down $50 a month with the new one, I guess because of all the safety Doodads.

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So, you got $4500 towards your 6k?  One visit, not multiple visits....plus the car your wife wanted.

 

Who gives a ****?  You have another day to fish with bro and the wife is happy.  You did fine.

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14 mins ago, MitchellNJ said:

16K for a three year old Civic. :dismay:

 

What the ****

3 years of marriage can cost ten times that. 16k Is good

 

( I extended that chit way past three years )

Edited by FEW3

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I dont mean to compare car costs with divorce, but trading in my last " ride" didn't save money, but made me happier.

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I could never do a lease, I either put to many miles or want to keep them longer. 
 With the chip issues going on I went nuts trying to find the car I wanted. Went almost to Baltimore Saturday for this one.

 

 

6CD4DD57-16E5-485A-A72C-A1B79DDF3817.jpeg

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I just sold that stupid manual window manual door lock 2wd 2.4 l Nissan with 54k fir 12 thousand bucks cash. Plus I get to use it till mid June. 

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39 mins ago, ted527 said:

I could never do a lease, I either put to many miles or want to keep them longer. 
 With the chip issues going on I went nuts trying to find the car I wanted. Went almost to Baltimore Saturday for this one.

 

 

6CD4DD57-16E5-485A-A72C-A1B79DDF3817.jpeg

Extra charge for being murdered.

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11 mins ago, mybeach said:

Extra charge for being murdered.

Has a couple chrome badges, I can overlook them for now. Have to wait until I get my plates and 5 year sticker before I get windows tinted.

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1 hour ago, MitchellNJ said:

16K for a three year old Civic. :dismay:

 

What the ****

It's crazy, inventory is low because of the computer chip shortage, so used cars are flying off lots like hot cakes. 

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1 hour ago, Tom T said:

So, you got $4500 towards your 6k?  One visit, not multiple visits....plus the car your wife wanted.

 

Who gives a ****?  You have another day to fish with bro and the wife is happy.  You did fine.

:kiss:

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1 hour ago, ted527 said:

I could never do a lease, I either put to many miles or want to keep them longer. 
 With the chip issues going on I went nuts trying to find the car I wanted. Went almost to Baltimore Saturday for this one.

 

 

6CD4DD57-16E5-485A-A72C-A1B79DDF3817.jpeg

Sweet car. Yeah for my truck I'd have over went over the 30k miles of the lease in the first year, but wifey is just driving the kids to school and going to the mall so it makes sense for her.

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6 hours ago, Tom T said:

So, you got $4500 towards your 6k?  One visit, not multiple visits....plus the car your wife wanted.

 

Who gives a ****?  You have another day to fish with bro and the wife is happy.  You did fine.

This is where I'm at. 

The less time shopping the better!  

Also, not much of a car person. 

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7 hours ago, IsmailG said:

Lease was up on my wife's 2018 Honda Civic, car was immaculate with only 12k miles. I was going to just buy out the lease and finance the remaining 12k owed on it and blue book value was around 16k. But I was like let me see what kind of deal I can get on a new one. The dealership was basically begging me to give back the car, I know they will give it a wash and vacuum and sell it for 16k by the end of the week and told them that. So they gave me a trade-in value of 3k for the car and 1500 in incentives towards a new civic in the color my wife wanted plus all weather mats. I'm happy with the deal, but part of me thinks I could have had more leverage using the old car and shopping around with it. Oh and also my insurance went down $50 a month with the new one, I guess because of all the safety Doodads.

You did okay in the end, but you screwed up when you leased it to begin with.

Unless your profession calls for a lot of driving you can write off on your taxes, never lease. 

A car is a depreciating asset.   Buy it right and keep it until the wheels fall off. 10+ years if possible. 

Number one way I see people hurt themselves financially is a new car every 3-5 years.  Especially when they twist their brains to thinking it's a good idea to finance their negative equity position into a new car.

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