Leasing Vs. Buying

Mr. X

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Oct 14, 1998, 3:00:00 AM10/14/98

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Which is better? Leasing or Buying....
We just leased a Saturn 99 SL2 and planning to take the option to buy it at
the end of the 3 year lease. It does come out cheaper doing it that way.
Any negatives about it? Glad to hear all responses....

--
Mr. X

Tom VanHorn

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Oct 14, 1998, 3:00:00 AM10/14/98

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In article <2_VU1.10770$i16.25...@news.optonline.net>, "Mr. X"
<t...@hoflink.com> wrote:

With Saturn, You probably come out even. That is because Saturn does not
allow discounting from the retail price. You can buy just about any other
car at or below dealer invoice cost (what the dealer pays for the car-I do
this through my credit unions fleet purchaseing plan) You can also
negotiate a lease using the invoice cost as the Capitalized cost in the
lease. This is usually about 15%off the sticker price.

Three years ago I considered a Saturn Lease on a loaded SW-2 for my corporation.
I did not go for it as the total lease cost for 36 months was over $13,000
AND the lease end buyout was over 10,000 Plus 6.5% tax. That is 23,650
for a 18,000 car.

I am again in the market and will check out the Saturn lease to see it it
got any better but if I realy want the Saturn, I would rather pay sticker
now (cash) and give up the investment earnings on the money.

Anyway, they are good cars and probably worth the money.

Good luck !

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KC

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Oct 14, 1998, 3:00:00 AM10/14/98

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Before I bought (financed) my 98 SL2, which BTW is my first new car, I
considered leasing. For me, leasing was a poor choice because I put at
least 20K miles a year on my cars.

Another problem I have with leasing is that, at least in my state (Rhode
Island), you still have to pay sales tax and property tax on a leased
vehicle. I don't believe one should have to pay taxes on something one
doesn't own.

--
Ken Coia
kc...@intap.net

Mr. X <t...@hoflink.com> wrote in article
<2_VU1.10770$i16.25...@news.optonline.net>...

Frank Yang

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Oct 17, 1998, 3:00:00 AM10/17/98

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In article <01bdf777$bbfe0e40$0801...@server.intap.net>, kc...@intap.net
says...

>Another problem I have with leasing is that, at least in my state (Rhode
>Island), you still have to pay sales tax and property tax on a leased
>vehicle. I don't believe one should have to pay taxes on something one
>doesn't own.
>
>--
>Ken Coia
>kc...@intap.net

Well, we don't just pay taxes on things we own. In some cases, we pay taxes on
things that we *use* as well. Electricity, water, phone calls are good
examples. I suppose that the RI state sees a leased car is being used,
therefore the govt tax on it.

Any way to make a buck. :-)

- Frank ('95 SL1)

KC

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Oct 19, 1998, 3:00:00 AM10/19/98

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Frank Yang <us03...@mindspring.com.NOT.GOV> wrote in article
<70adq7$ut7$2...@camel0.mindspring.com>...

That's a good point, Frank. I didn't consider the big picture.

--
Ken Coia
kc...@intap.net

Frank N Beenz

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Oct 21, 1998, 3:00:00 AM10/21/98

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>In article <01bdf777$bbfe0e40$0801...@server.intap.net>, kc...@intap.net
>says...
>>Another problem I have with leasing is that, at least in my state (Rhode
>>Island), you still have to pay sales tax and property tax on a leased
>>vehicle. I don't believe one should have to pay taxes on something one
>>doesn't own.
>>
>>--
>>Ken Coia
>>kc...@intap.net
>

Here in Oklahoma we pay sales tax along with the tag license. My first
license plate cost me over $800. The next year it went down to only $400...