2008 Accord Sedan vs Coupe residual?

On Mon, 19 Nov 2007 21:55:47 -0600, "Pszemol" >
wrote:

>"Elmo P. Shagnasty" > wrote in message ...
>>> > If you can't afford to buy it, you have no business acquiring it under
>>> > ANY circumstances.
>>>
>>> Why is that, Elmo?
>>>
>>> Lease is just paying for the usage of a car which belongs to the bank.
>>
>> Plus ALL the interest on that loan that's out on the car while you have
>> it in your hands.
>>
>> Either you can afford the car, or you can't.
>
>I still do not quite get why are you so against leasing...
>Yes, you pay the usage fee and the interest but you
>do not have to pay off the principle on this debt.
>So you can use the car for less (short time) than when you own it.
>
>For people not making a lot of miles and generally do not abuse
>cars it sounds like a good idea and more afordable for people
>who cannot shell out a full payment for a car...

Circumstances vary of course, but you are paying for the miles you are
allowed to use whether you use them or not. If you allowed 15K per
year and you use only 7K, you will turn in a car with much lower
mileage then what was assumed when they worked the numbers and, of
course, they will not be giving a refund. On the other hand, if you
use more than the allowed mileage, they will charge you out the wazoo.

Same goes for abuse. They assume you will abuse it to X degree and
charge you accordingly. If you use it gently and take good care of
it, you will be turning in a cream puff and someone else will get the
benefit of your care. If somebody dings you in the parking lot, you
will pay to repair a minor flaw that you might just live with if you
were keeping the car.

>> Leasing is for "monthly payment" suckers who don't understand what
>> they're doing and who are easily fooled into paying HUGE amounts of
>> money for the car. The car salesman loves it.
>>
>> Remember, the car salesman doesn't lease you a car. He sells a car. He
>> sells it to the leasing company. Then he acts as an agent for the
>> leasing company, earning a commission for THAT deal. So that's TWO
>> deals he's earning commission on. And he's a pro, so he gets you into
>> that "monthly payment" mode and in the end you have NO idea what you
>> paid for the car.
>
>For people who think short term it does not matter how much he
>paid for that car - what he knows is that in his budget a payment
>of $300 monthly is acceptable but a payment of $400 is not.
>
>Of course he is paying more in the long term, but why not?
>As long he wants to pay more - I do not see your point about
>of not being able to afford the car.

You touch on a point here that the real cost of the lease is in the
rapid turn over of cars. This is expensive whether you buy or lease,
but with a lease you have no choice but to flip a barely used car
after three years. If you buy, you have the choice of selling,
trading in or keeping the car at that point.

Everyone is aware that the depreciation really hits you in the first
three years of ownership, but there are other costs as well, notably
sales tax. With the quality and cost of today's cars, it is pretty
extravagant to trade or lease every three years. If you buy it and
keep it for a year after the loan is paid off, you will have built up
considerable equity, and maybe have saved some money as well. Do this
for a couple cycles and you can start paying cash for your cars.

"Elmo P. Shagnasty" wrote

> Leasing is for "monthly payment" suckers who don't understand what
> they're doing and who are easily fooled into paying HUGE amounts of
> money for the car. The car salesman loves it.

That is probably why most newspaper car ads show the prices only in terms of
leasing -- that ever attractive low monthly payment! "What'll it take to get
you into this beauty-ful Accawd heah?"