I respect that but I am worried about the car depreciation due to technical
Obsolescence
obsolescence. Sorry. Dropped the last word.
For a 36 month lease, you will pay over 40K for a 60K car.... Makes Zero sense to lease.
I generally tend to agree, I've only leased 2 cars, the 1st was a great learning experience for a 24 yo. The 2nd was my 2024 EV6. I put down $11k in a trade in and had 24 months of $150/month payments. The sticker on the car was $52k. I think I did OK on that one.
I have leased cars in the past when it makes sense. i now own all of our cars and am purchasing the R2..... leasing it is just flushing money down the drain.
But if you finance, you will pay more than that, and possibly be underwater on the value of the vehicle.
No worries, I am writing a check for it....no financing needed...
Well, I’m happy for you. But the majority of us don’t have a spare $65-80k burning a hole in our pockets.
But this an R2 we’re talking about and terms suck I’m told. I leased a couple of Beemers in the past when they were handing them out like candy but I’m going all cash too after selling my paid off 2024 MY. Which many can’t I know but don’t take a crappy lease deal and make your situation worse.
True, you need to run the numbers and see what’s best. Which is why I haven’t traded in for a Gen 2 R1T. I’d be paying twice as much for basically the same vehicle.
I hear you and honestly my investments have done much better, why I sold a bit of one at a recent high so I’m ready to move as soon as they let me order!
Investments go up and down but I don’t have to choose so having a lien free R2 is peace of mind which is worth something too. (And mine will be $70K all in). But again, don’t take bad terms on a lease. People are prone to let a nice car bury them in debt.
The lowest interest rate from a credit union for the R2 is 5.14%. No need to finance.
I just got quoted a 4.35% through my alumni network here on the peninsula.. I might not be able to pass that up on some portion after purchase.
That is excellent these days... I only checked one CU as I probably was not financing.
If you get a good rate, it is much better financial decision to finance and invest the principal. Otherwise you are flushing money down the drain. Giving up a good rate makes Zero sense to me.
There are tax reasons for using cash.... I'll invest the $400 a month I will be saving on gas.
