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Replies: 25
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Oculus Spirit [85229]
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Lease vs buy
Jan 29, 2021, 8:24 AM
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$0 down at $255/mo on a $32K car. That's good right?
Trying to make myself feel better about selling my car last night.
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Oculus Spirit [85229]
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Wait, do you pay property tax on leased vehicles?
Jan 29, 2021, 8:27 AM
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Sales tax?
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Oculus Spirit [78876]
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Property tax
Jan 29, 2021, 8:46 AM
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Buttsechs tax
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Lot o points [155750]
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These two are where TN is both terrible and awesome.
Jan 29, 2021, 8:57 AM
[ in reply to Wait, do you pay property tax on leased vehicles? ] |
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Sales tax on a new car, boat, etc is 9.25%, UNCAPPED. Yup, buy a $30k car and you're handing over $2800 in sales tax when you go to register it.
It's generally offset though by no state income tax and no annual property taxes on things like this....once you buy it, you just spend $100 a year to keep it tagged and you're good.
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Oculus Spirit [85229]
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Sounds like it would hurt the new car business
Jan 29, 2021, 9:00 AM
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Dang, yeah we capped at $500....of course property tax on a 30K car is gonna run $600-800 that first year.
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Lot o points [155750]
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Yup, when I was in Charlotte it was 3% uncapped.
Jan 29, 2021, 9:02 AM
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There were a few car purchases that got registered at my parents address in SC for the old $300 flat tax and then transferred to NC.
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Oculus Spirit [78865]
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that is 142 months
Jan 29, 2021, 8:27 AM
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if you are buying it
which Subaru model?
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Oculus Spirit [85229]
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They do lease to buy?***
Jan 29, 2021, 8:31 AM
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Oculus Spirit [78865]
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I don't know if they do
Jan 29, 2021, 8:38 AM
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you wanted me to cipher that $0 down at $255/mo on a $32K car was a lease payment?
sounds like a reasonable assumption
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Lot o points [155750]
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need to know a lot more than that...t-mell me deets if you
Jan 29, 2021, 8:31 AM
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want, and if you don't know these details, you need to know em too, so ask dealer.
Need make and model of car, length of lease and mileage allowed, Residual value at end of lease, and money factor. THEN, and only then can you know if it's a good deal or a screw....never judge the deal by the payment alone.
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Oculus Spirit [85229]
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What I was saying was I owned a car for almost 3 yrs
Jan 29, 2021, 8:37 AM
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and I effectively lost $255/mo over ownership.
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Lot o points [155750]
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If leased correctly, the lease probably wins.
Jan 29, 2021, 8:41 AM
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I only lease if there's a high residual value and crazy low money factor...the two combine into a ridiculously low payment...for example the F150 I turned back in last year was $325/month for 24 months with nothing down on a $54k truck.....it was a no brainer at that point....I paid $7+k to rent it for two years when in reality it probably lost $15k in value.
$32k car? Depending on the car, you can get into the $100's if you're aggressive.
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Oculus Spirit [85229]
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Well, that certainly is interesting....I mostly assumed all
Jan 29, 2021, 8:45 AM
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leases started around $300 and required $3,000 down (or more).
Realistically, leases are not an option for me b/c I normally drive 20K/year. My car had 53K on it after about 3 years, saved miles thanks to covid.
What about property taxes and sales taxes? Are they different for leases? Again, I would not lease b/c I drive too much, and I just bought the truck.....just interesting info
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Lot o points [155750]
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In SC? You pay the $500 up front when you lease,
Jan 29, 2021, 8:50 AM
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and going off old memories, I still believe they send you a property tax every year even if the car is leased.
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Oculus Spirit [85229]
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I should know, if you think it may be taxable
Jan 29, 2021, 8:51 AM
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Then it is taxable.
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Oculus Spirit [75709]
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Think you could find me a deal on a High Country
Jan 29, 2021, 8:52 AM
[ in reply to If leased correctly, the lease probably wins. ] |
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with those kinds of terms.
In a more serious question that I forget what you said a few weeks back, what were the scratch and dent terms on that truck. If I got a truck, it would be for truck stuff, not whatever most fools use trucks for these days.
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Heisman Winner [105511]
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Oculus Spirit [85229]
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22,500
Jan 29, 2021, 8:47 AM
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Paid 31,200 for SLT-1 (leather, heated seats, sunroof, 20in wheels etc)....I owned it for 34 months.
Trade in offer was 20K, I thot I could get $24 but dropped the price when no inquiries in a week.
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Lot o points [155750]
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Any way you slice it, you probably should
Jan 29, 2021, 8:51 AM
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feel pretty good about a $3k-ish (plus taxes, insurance, and maintenance) cost of ownership of a new vehicle over 3 years.
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Oculus Spirit [85229]
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Unless Honda or TRDJ's favorite I guess***
Jan 29, 2021, 8:53 AM
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Heisman Winner [135792]
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Depends on how much you drive a year
Jan 29, 2021, 8:50 AM
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I haven’t seen one that would give me the milage I needed.
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Lot o points [155750]
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If you really want to nerd out on leasing, spend some
Jan 29, 2021, 8:54 AM
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time on this site....it's pretty interesting if you're into this stuff.
These guys have found some "perfect storms" of incentives and manufacturer supported leases and figured out car leases for $59/month with nothing down.
https://leasehackr.com/ LEASEHACKR America's largest online community dedicated to the art of car leasing. Leasehackr provides the premier resources to discover the best and latest deals.
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Oculus Spirit [81019]
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wonder if Toyota will lease a Land Cruiser?
Jan 29, 2021, 11:06 AM
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With their residual, especially since this is their last year, I don't see how the payment could be very much.
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Lot o points [155750]
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Not sure but I’m guessing Toyota FS doesn’t support the
Jan 29, 2021, 11:15 AM
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Money factor a bit......
The same rationale though (and Toyota backed money factor) will get a $50k Tundra (I know, LOL) for sub-$300.
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Oculus Spirit [81019]
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Toyota is stuck in a time dilation, 'cause you could have
Jan 29, 2021, 11:23 AM
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leased that EXACT SAME TRUCK 14 years ago, probably for the exact same payment.
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Orange Blooded [4701]
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I'm on my 2nd vehicle lease
Jan 29, 2021, 10:37 AM
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Husband of travels frequently (well, used to) so the perk of having maintenance included and they will bring me a loaner and handle everything has been a win.
Way more cost efficient than what I was doing prior, buying a new car every time the warranty was up and getting raped on the trade ins.
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Replies: 25
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