well my good friend wants to sell his modded 330ci that has 20k miles on it.


He found a 2001 CLK55 for $43k with 18k miles.

Now heres the thing.. he wants to sell his 330 and LEASE the CLK55. His car payments would stay the same as the 330s. Also his insurance would go down $500 a year, go figure.


With all that said it seems like he cant go wrong... but im not too educated on leases so i want to make sure he doesnt make a mistake and regret it.
So why dont most lease?

bimmer > mercedes

plus, leasing a used car is a bad idea. course if doesnt care that he's paying the depreciation of an already used car, and will have nothing in it at the end, then hey go for it.

tell him to be smartr and stick with the bimmer.

I been trying but he just loves the CLK, which i do too.

How will he have nothing to show for it? Wouldnt it be the same as if he sold the car on his own? Say his payments are $475 for 48 months on the lease, then the clk55 would be worth 22,800 at the end of the lease. Thats about the same going rate a CLK55 with 60k miles would go for, no?

He OWNS his bimmer.

When you lease you own NOTHING.

So, after 48 months of his clk lease he will still own NOTHING. where as when he pays off his bimmer he OWNS it, and therefore has equity in it.

Plus, he would leasing an already USED vehicle. Why does he want to continue paying out the depriciation of a car that is already 4-5 years old, and after 4 years have nothing. So he either turns in his lease to the bank and owns NOTHING. or conitunes to pay out on a ridiculously high buy out.

So youre telling that in 2008. his buyout on his used lease on a 8-9 years old car is $22, 800.

Think about it, its fucking stupid. The math does not add up and your friend would be making a dumb financial mistake and investment that depriciates.

Unless this dude is really well off that money doesnt matter he is a fool to go through with the idea.

Ryan: i put down $1k more
Ryan and that results in $24 less per month
Ryan: times 48
Ryan: = 1152
Ryan: so i save an extra $152
Ryan: woot!
CrazyQuattro: i think the point is that u shouldnt be thinking of monthly payment and more of long term
CrazyQuattro: sir.
Ryan: meaning
CrazyQuattro: meaning you will be stuck with this car till 2008 and it will 8-9 years old by then
Ryan: here's the thing you forgot to tell your acura friends >:o
CrazyQuattro: :-[
Ryan: owners choice is a lease buyout program
Ryan: i have ownership in the car
Ryan: although now its negative
Ryan: but next june
Ryan: i can take whatever equity is there
Ryan: :Rolleyes:
Ryan: and use that
CrazyQuattro: so why dont u wait till then
CrazyQuattro: dumbass
Ryan: but right now
Ryan: i dont have any equity
CrazyQuattro: so wait
Ryan: car is worth 27.5
CrazyQuattro: and get another hobby
Ryan: and i owe 29.6
Ryan: wtf
CrazyQuattro: my head hurts

I agree, its a bad idea to sell your car to lease a used one. Plus a CLK55 is fast but its soft on the handling side. The 330CI is a great car, keep it.

Okay just read your latest post, your friend sound definately do nothing now, hes already upside down.

Your friend is dumb and impulsive.

He's sitting talking about leasing a used car and PUTTING MONEY DOWN on it on top usual fees. Which means he is paying more of the depriciation up front. Which means he is paying MORE into nothing for lower payments in the end.

What friend is doing is stupid, and if he is dumb enough to go through with it then I hope he lives to regret it.

Anyone can lease a car new or used and choose to buy it out whenever they want, so lease buyout program my ass.

You can tell you friend that youe "acura friend" used to be a car salesman. And your friend is sofa king we todd ed.

and if thinks 2 grand upside on his bimmer is a lot, then tell to think about all the money is wasting into the merc.

you said his payments would be 475/mos i assume that is before lease tax. so over 500.

Thats more the $22,8 (to go against depriciation of an already USED car) and the buyout after 49 mos is 22,8......And he'll have nothing in the car . So he'll return it to bank with nothing. Or buy it out and in 2008he'll be $22,8 upside down.

tell him to do the fucking math.

touche


But thanks for the help, i knew this was too good to be true.

he should do what ever makes him happy, if he gots the $$$ to spend y not

but he wont be happy if he gets stuck and ends up being fucked over with this.

you're still pretty young right? when you gain more financial responsibility you'll understand.

Its things like this as to why people have shit for credit. Or made good money and are now suddenly broke or bankrupt. Or are constantly in debt.

Its clear his friend can not really afford to do this. He is upside down on his current car, and if he could afford to do it, then he finance the used clk, not try and lease it.

happiness is great and all, but not when its gonna fuck you in ass and make you miserable in the long run.

does he know hes gonna be getting into an out dated old model(previous gen)

No he lives in a box.

Something tells me he can barely afford his current car...your friend.

Also there is a chance he can get 30k for his car which then he wouldnt be upside down.

Hell im sure he can get 32k for his 330 if sold privately.

maybe he should invest in a house then

both of you are hopeless. even if he can get positive on his car

1) he wants a used mercedes, he cant afford to finance, so he wants to LEASE A USED CAR

2) He was quoted payments which are sure didnt include monthly tax. And those payments go to lessor to pay for DEPRICIATION of the ALREADY USED car.

3) his 48 month lease means he'll paying more then $22,800.00 to have no ownership in the car.

4) 48 months and $22,8 later, he will have to return it and have NOTHING. or buy it out and still owe yet another $22,800.00. By this time the car will 8-9 years old. And he will be REALLY UPSIDE DOWN in his. Buried in it.

5) putting money down on a lease as he was talking about, just means he is paying more up front. He will still be paying +22,8 over that 48 month lease.

6) there are no loopholes out of this, unless your friend is rich and finance or buy out right (and we already know he cant.) Your friend is an idiot to keep seriously entertaining this idea.

this would be wise for anyone.

Sounds like he's got a ton of extra money lying around. Tell him to screw the CLK and get an RS6 or a sports car.

settle down sunshine of mine.. i was just saying he can get more for his 330. Trust me im the only one who is trying to bring him down to earth about all this. Everyone is telling him to get it and im trying to tell him to think it through.

Your points are all excellent and i will be linking him this thread so he can understand more.

There is nothing wrong with his 330, i see no need to get rid of it for this. IMO

he clearly cant afford the car, end of story.

i'd rather have the bimmer anyway, outhandle the amg anyday of the week.

the 330 is a sweet car he should keep that

I don't OWN the bimmer. I bought it on owners choice, which was a program BMW has to lower your monthly payment and either taking a balloon payment at the end or refinancing.

And the car is almost 3 years old, not 4 or 5 years.

WRONG. That is with lease tax. I wanted 475 inclusive, no additional fees.

I did the fucking math

I can, thank you. The payments are below my affordable level. I negociate way below the level I set so I dont even exceed my minimum.

HI ryan.

These guys are good people, dont get too worked up.

If you could afford the car you wouldnt be looking to lease it. to leasing a USED car.

Do whatever you want, when your credit is shot and your filing for bankruptcy, or sitting there having major remorse over your horrible financial decision, tough shit.

Thats all i can say on that.

Sarlacc give him more advice than that, please.


He can afford the monthly payments... so his credit wouldnt hurt from it if he makes them on time which he has been.

Ryans a really good friend of mine and i dont want to see him doing somthing that he will regret. So let him tell you his situtaion and then give him the advice.

Lots of people lease cars, does that mean they cant afford them?

YES.

That is exaclty why leasing has become so popular in last few years. It allows people who can't really afford the cars they want an opportunity to have something way out of their budget.

But in the end, they have nothing, they have to jump into anoter car payment one or another.

This is fairly common place out here in LA, where 80% of the people cant truly afford what they drive.

As far as advice, re read the thread, i cant repeat it anymore then that.

if your friend has to lease a USED car to be able to "afford" then he really cant afford the car and would be making a stupid mistake he would come to regret.

He says hes done the math even with tax included its 22,8 during the time of teh lease of a USED car, and still 22,8 buyout at the end.

the advice is all there, he justs seems so convinced of himself that he is blind to common sense.

Its cool, I just dont like being called fucking stupid by someone who doesnt know shit about me. Not cool.

Dont take it personally, he was just saying it becuase of the way i talked about the situation.

Wrong.

People lease cars all the time. Leasing allows you to pay for what you use. Cars depreciate to no end and they are a waste of money. The only cars that appreciate are those from 1950 and back, and even by now to keep a car like that mint, you've poured tons of money into it.

I dont see where I would buy a car for 675 a month or lease for 475 a month. I would put that 200 away towards my next car, resulting in 2400 a year in savings. Time 4, thats 9600 as a down payment for a new car. I dont really see whats wrong with that.

you're right i dont know shit about you, and I dont want to. but i do know this whole thing is out of your affordablity, and to keep entertaining the idea IS in fact STUPID.

Coming from someone with a one track mind.......

Leasing is for idiots who wants to drive more then afford, or for people who like to get into new every couple years, dont want to have the car long to do any major maintenance, and dont mind and can AFFORD to ALWAYS have a car payment.

You are talking about leasing a USED car lets repeat this USED CAR. A USED MERCEDES. your going to lease this USED vehicle, you WILL have major maintences to pay for on it, and you paying $22,800.00 towards the depriciation of a car THAT HAS ALREADY TAKEN ITS MAJOR DEPRICIATION HIT the 1st time it was leased (im going to guess its a lease turn in)

Its a bad fucking idea, get over it already.

EDIT: and $9600 down on any of the cars it seems you like to go for is NOTHING. it lowers the monthly costs of owning by around $100.00/mos. big fucking deal on the 40-50-60 thousand dollar car.

Keep your bimmer and keep saving your money. The bimmer is more reliable in the long run anyway.

First I like to get into a different car every few years. I did that with two of them already and this would be my third. That's why leasing is an option.

Right the car has taken its majority of its depreciation out already. Thats a great thing.

Sure 9600 is nothing, but I always save extra. I would not only put down 9600.

Sure the bimmer is reliable. No arguements there.

Aside from all the lease stuff, thats ive been putting in here. im going to streamline this...

leasing a USED car isnt the best idea.

you like to lease, you can lease, you alwasy lease, then stick with leasing NEW cars.