Knowledgeable Member
I have a short term lease for only 14,000kms on a brand new Mercedes-Benz 2011 E550A Cabriolet. It is black on black with 20% tint, too bad it snowed today my god Canada sucks some times. I`ll see if I can post a pic but I honestly forgot how too lol. Should be a blast for the summer.
Snook~ AR Lounge Monitor
Anabolic Member
never understood the point of leases
Knowledgeable Member
Trust me this is a steal..... $650/month including insurance and I only pay until 14,000kms. It's a special employee deal. This car is $95,000 tax-in.never understood the point of leases
Snook~ AR Lounge Monitor
All my bf does is lease. I hate the ideal because you are pretty much paying all this money to "rent" a car but he loves the fact that every 3 years he gets a new one. My car is paid off and i am keeping it until it blows up. I hate car payments.Originally Posted by zimmy
AR-Elite Hall of Famer (RETIRED)
Same here, paid my bimmer off last year and I'm just gonna run it till it dies.
Knowledgeable Member
There it is in the avy but I need to get some sun shine pics, god damn Canadian winter!
VET
my summertime toy in the ghetto is when the city opens up a fire hydrant...vroom vroom party starter....
"Even sexier than Siggy"
Leasing is great if you are a business owner, you write that shit off to a higher level than a purchased/financed car.
Looks hot Red
Didnt know you were in Kanata
Knowledgeable Member
I get to write it off too being a commission sales person.
"Even sexier than Siggy"
not to be confused with writing off...
Knowledgeable Member
lol no that won`t be me, though I know I will have th behave with this car atleast some what.
~Retired~ AR-Platinum Elite-Hall of Famer ~
Get some pictures up
Merc's the best car's in the world
Knowledgeable Member
Right now it's got snow and ice on it so I don`t even want to take more pics until it is clean again. I just got it this week so I haven't even got a chance to really drive it yet. Why oh why did it have to snow again, it was actually nice for the last week. I `ill bump the thread again when I can put up some other pics, I`ll get some with the top down etc.
Anabolic Member
I've never been a payment guy. If I can't buy it outright, then I can't afford it... (except for my house).
I drive an older car (paid), woman has a new car (paid) and the harley (paid)
Knowledgeable Member
Its not really a lease when it's this price, imagine the depreciation at 14,000kms I will pay like $3,000 to enjoy the crap out of it including insurance,licensing,servicing. I`m planing a road trip down to Florida or Key West or something this summer.
"Even sexier than Siggy"
oh Marcus... Marcus Marcus Marcus... after hearing about your infatuation with Pink I thought you had great taste... tisk tisk tiskGet some pictures up
Merc's the best car's in the world
~Retired~ AR-Platinum Elite-Hall of Famer ~
Knockout power...knockout power knockout power...You will understand once you own one my friend,
"Even sexier than Siggy"
depending on your definition of "owning" one... I tend to get a real good look at them while passing whenever I am on the track =)
~Retired~ AR-Platinum Elite-Hall of Famer ~
"Even sexier than Siggy"
I know its confusing, I was in denial till I got a fast car as well
now worries, theres still love, group hug...
"Even sexier than Siggy"
I would bow out to this one though
~Retired~ AR-Platinum Elite-Hall of Famer ~
You will see the light one day, may god be with you until you do
Member
Writing "it" off means the money is gone. That is what the "it" is in this instance - money you no longer have. You pay $600 to save $250 on your taxes (maybe that much). It does not take a financial genius to figure out that this is not a good reason to do it.
Knowledgeable Member
Correct however due to my circumstances I can write off the tax amount and also gas. Not to mention I normally have to take a demo which is a taxable benifit that costs me about $250/month real money to drive a c-class. So lets look at this....Writing "it" off means the money is gone. That is what the "it" is in this instance - money you no longer have. You pay $600 to save $250 on your taxes (maybe that much). It does not take a financial genius to figure out that this is not a good reason to do it.
$650/month
-$250 (money I would have paid on the demo taxable benifit)
-$250 (aprox tax savings on the back end on income tax for the payment)
+no license fee
+insurance included
+No service fee (20,000km intervals)
+Free tank of gas
+Gas is tax deductable too
Its a joke how cheap this car ends up being for me plus I only make payments until 14,000kms.
Junior Member
wait so after 14,000kms it's free ? Or by then do you think your lease will be up ?
"Even sexier than Siggy"
yah, but if you buy something and give up say $80,000 of your hard earned money to save on the interest and not have to finance or lease at at rate of say 4-8% (standard auto car loan rate) then you have $80k less in your account to invest. You can make much more than the cost of a measely lease expense, WHICH YOU STILL GET THE WRITE OFF FROM...
You can easily get 12-15% on low risk investing so having the extra money in your pocket and simply leasing is pretty intelligent, and to use your words exactly "It does not take a financial genius" to figure out this is a pretty smart way of doing things...
So save your opinions on how I do things wrong
Last edited by Knockout_Power; 03-23-2011 at 02:55 PM.
"Even sexier than Siggy"
man, you cant lose on this deal, you are paying what the average person would pay for a car in the $45-50,000 range and getting a car like that to roll in...
Good deal methinks. Enjoy your toy
Member
Or you can invest and it go down, and you are paying lease payments and interest to boot.
If a cost is necessary, then the deduction is great to have, but it should not be the motivator in taking on an expense. The fact remains that is costs much more than the deduction.
I do not buy $80,000 cars, so the whole thing is academic (for me). I buy used and drive them until the wheels fall off, and sometimes even longer.
"Even sexier than Siggy"
Who am I kidding, I drive a yaris and love it... 45mpg and lovin it
Anabolic Member
milage is 50 cents a mile this year here .i wrote off 30000 miles this year
Last edited by cro; 03-24-2011 at 04:09 AM.
Senior Member
the term lease means pissing your money away with nothing to so for after and thats great if your monty brewster trying to blow 30mil in 30 days
Dulce bellum inexpertis
A car is a depreciating asset. Actually, depreciating item is more like it, hard to even think of a car as an asset, other then it provides you with transportation. The point Redz is trying to make, is that if you do not "OWN" your car for 5+ years (past the point of the loan), then YOU are the one who is getting hosed. You typically have to own a car for a VERY long time, usually far longer than the car is, at its optimum comfort/performance level. Owning a car is relatively stupid in todays age, unless of course you plan on 'driving it into the ground.' But even then, it only makes sense to do so with cars OTHER then luxury, or luxury sports cars.
Luxury cars specifically, depreciate a shit ton. You avoid much of this by leasing. If you are the type of person who always likes to have something new, then leasing is a smart option as opposed to buying. Usually you can get into the same car for $100-$300/month under what it would be to 'buy' that car, if your intention is to just trade it in when you're close to your loans end term anyway. Additionally, leasing almost always means that the car will have a bumper to bumper warranty for the length of time that you will be driving it. Repair costs can be another "UNKNOWN" factor which can make "OWNING" extremely costly. If he were to OWN that E550, and the engine, for instance, were to need to be replaced at 160,000 miles, it would cost at least $10,000. That would equal out to almost $200 over 5 years. Leasing is not for everyone, but it makes sense to those of us that have conceded to the fact that we like to drive new cars every couple of years, and that $900 or so dollars a month is something we choose to pay for the rest of our lives in order to do so.
This probably does not make sense to a person who is use to buying a car in cash, cars that are say, sub $15,000 mark. It's very rare for people to buy cars $30,000&Up in cash, and those that do have the ability, will not be missing that money.
9/11/2001~343 Never Forget!~E-HOF~RETIRED
Under the right circumstances leases are great. People often forget when they lease they can still negotiate the price of the vehicle prior and if you do your homework on the depreciation rate and the residual value of the contract you can come out ahead. I leased a brand new M3 a while back and had payments much less than what a purchase payment would have been. In other words I was able to drive a $45k car for the payment price of a $30K car. After 3 years my lease was up, the residual was $22k and the car was blue booking for nearly $28K. I purchased the car at the end of the lease and financed it for 100% of bluebook and put $6k in my pocket at a credit union rate of 3.9%. In the end I payed slightly more than had I bought it outright but I had less monthly out of pocket costs and got a cash advance at a rate usually only available with a home equity loan or LOC.
Senior Member
Agreed.Get some pictures up
Merc's the best car's in the world
One of the best damn engineers in the world! I work on all makes of cars all day long, from american to japanese to german, etc... Mercedes (and Audi) are two of the least seen makes in my shop. When working on these two makes, its quite clear that they put the utmost effort and ideas into there designs. Not only are they dependable but they are also everything else. On the contrary, parts are sky high. That concept is easily understood when applied back to the quality of the part and explains why theyre so costly...that and they have to be imported (in most cases).
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