Well, as most of you know, I decided to buy my car at the end of the lease.

I was quoted a price of $15,591 for it originally. Strangely, the total bill ended up being just over $14K.

I know you all like to tease me over the car's exterior, but $14K for an '01 ITR with 33K miles is a damn steal.

 

 

Yes it is Ross!

See you when u return home.

 

I don't get it. You paid $14k for your ITR all together? Didn't you have to pay for it during the term? If so, how much does that come out to?

 

thats why i never lease.....anyways good deal in the end though

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by markpaco &raquo;</TD></TR><TR><TD CLASS="quote">I don't get it. You paid $14k for your ITR all together? Didn't you have to pay for it during the term? If so, how much does that come out to?</TD></TR></TABLE>

No, I paid for it while I leased it. Then, once the lease is up, you have the option to buy the car.

An ITR of this year and mileage will fetch $17K or more. So I consider it a good deal.

 

if you dont mind me asking....how much were you paying per month on your lease? and for how long was the lease??? Trying to compare rates as best as possible.

dotn have to answer if you dont want to

either way 14k for a ITR is a steal and a 1/2....

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Ross R &raquo;</TD></TR><TR><TD CLASS="quote">I know you all like to tease me over the car's exterior, but $14K for an '01 ITR with 33K miles is a damn steal. </TD></TR></TABLE>

Congratulations Ross!
Glad to see you're getting your money's worth out of the car.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by 98itR484 &raquo;</TD></TR><TR><TD CLASS="quote">if you dont mind me asking....how much were you paying per month on your lease? and for how long was the lease??? Trying to compare rates as best as possible.

dotn have to answer if you dont want to

either way 14k for a ITR is a steal and a 1/2....</TD></TR></TABLE>

Lease was $278 per month for 36 months.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Ross R &raquo;</TD></TR><TR><TD CLASS="quote">

Lease was $278 per month for 36 months.</TD></TR></TABLE>

Well that makes no sense. With the numbers you posted, you bought the car over 3 years with no interest.

278*36=10008
10008+15000=$25,008

$25,008 is like sticker price of an ITR back when it was availalbe new.

 

Congrats Ross!!

Mine is going to be about the same price... an '01 with 41K miles (whoa, racked em up good last year... about 18 K) come March 21.

I'm still a little worried about actually getting the car financed. I hope that works out.

Chris - on himself for not being the best finance-wise.

 

glad to hear it ross.. definitely an excellent balloon payment/buyout..

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Tommy_Gunns &raquo;</TD></TR><TR><TD CLASS="quote">

Well that makes no sense. With the numbers you posted, you bought the car over 3 years with no interest.

278*36=10008
10008+15000=$25,008

$25,008 is like sticker price of an ITR back when it was availalbe new.</TD></TR></TABLE>
agree with you that makes no sense
10k+14k=24K
I personally think your an idiot if you think that you had a good deal
then you an *** no offense though
R's back in the day new were 24-25K

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by gsrmaninny &raquo;</TD></TR><TR><TD CLASS="quote">I personally think your an idiot if you think that you had a good deal
then you an *** no offense though
R's back in the day new were 24-25K</TD></TR></TABLE>

i'm confused.. how does getting a price that basically shows that the finance company made no money off of him make him an idiot? or an *** for that matter..

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by gsrmaninny &raquo;</TD></TR><TR><TD CLASS="quote">
hey ******* do you call $2-3K a savings..over a 3 yr period if you do i think ur a bigger *** so in that case STFU </TD></TR></TABLE>

you sure do like the word ***.. anyways, since you're the finance wiz, explain it to me then..

he paid 14k to buyout his lease..
he paid 10k over 3 years since buying it..
meaning he paid 24k for the car, which is what they cost brand new, 3 years ago, when he got it..
so he paid ZERO interest.. for the large portion of the world that finances new cars, that's a lot of money.. figure a modest 6% interest rate on 10k in 3 years, that's $1k in interest over 3 years that he DIDN'T pay.. throw sales tax on that 10k, another 5%(in MD) and that's another $500.. edit: not to mention, the car is worth more than what his buyout was, should he decide to sell it..

now, like i said, explain to me why I'm an ***..

 

Congratulations Ross. Sounds like you made out like a bandit on that car.

I'm guessing that there was some down payment at the start of the lease, and that was the only profit that the finance company made off of you.

As for gsrmaninny - you do not make any sense at all...

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by gsrmaninny &raquo;</TD></TR><TR><TD CLASS="quote">
hey ******* do you call $2-3K a savings..over a 3 yr period if you do i think ur a bigger *** so in that case STFU </TD></TR></TABLE>

Go find another site to use your favorite word. Seriously.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by mstewar &raquo;</TD></TR><TR><TD CLASS="quote">

you sure do like the word ***.. anyways, since you're the finance wiz, explain it to me then..

he paid 14k to buyout his lease..
he paid 10k over 3 years since buying it..
meaning he paid 24k for the car, which is what they cost brand new, 3 years ago, when he got it..
so he paid ZERO interest.. for the large portion of the world that finances new cars, that's a lot of money.. figure a modest 6% interest rate on 10k in 3 years, that's $1k in interest over 3 years that he DIDN'T pay.. throw sales tax on that 10k, another 5%(in MD) and that's another $500.. edit: not to mention, the car is worth more than what his buyout was, should he decide to sell it..

now, like i said, explain to me why I'm an ***..</TD></TR></TABLE>
ownT
anyway, glad to see you're getting it

 

Congrats Ross

 

Congrats! I sold an R and thought about the damn thing everyday... Until I broke down and bought another one. For all the future CPA's of H-T, leasing a car works like this: The rate you pay every month during the duration of the lease is dependent on a couple of factors, how much you drive the vehicle, the understanding that the vehicle must be in fair shape relative to age, and most importantly, the predicted residual (market, blue book, NADA, etc...) value. In other words, the residual is a guessing game for the leasing bank. If the real (street)value (the price us fools pay for these super rare cars) is greater than the payoff, 14K in this case, you make out like a bandit and you know the car's history, of course. Now get it a fresh coat of paint with the dough saved from interest .

 

Congrats Ross!! She's all yours

 

wow that must have been hard to find and ITR to lease

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Joker &raquo;</TD></TR><TR><TD CLASS="quote">Congrats Ross!! She's all yours </TD></TR></TABLE>

It had better be considering all the stuff he's put that ITR through!

 

So you didnt put anything down to lease the car? Usually it would be (for hondas/acuras usually) you would have to put 2-3k down and lease for 36-? months then they give you a chance to buy it at the end? Also where the hell is the tax in all this?

 

Its good to be you today