Call Carl Jackson at Boaedwalk Vettes in sf.... he will steer you right,....Dont go over 3 years on a lease....

http://www.leaseguide.com/leasebuy.htm

 

My .02 - I have never ever heard of 1 person who was happy with a lease. Any way you look at this deal there is a "got-ya"

The best solution is to keep the G6 untill you can be right-side up, drive current vette. I promise they are not going to quit making the C6 (anytime soon) and I also promise there will be other C6 for sale exactly like the one you want.

I was in a similar situation about 10 years ago but I wanted an NSX. I did the deal and I was in a serious hole for about 5 years. After about 6 months I reesented the car because of where it put me financially. Now I only pay cash ! PERIOD!!! If I can't afford it I wait until I can which allows me plenty of time for research. My current cars are 1998 -C5, 1996 Porsche 996 TT, 2002 Mercedes ML430, 2004 Jeep Grand Cherokee.

There is no better feeling than a title in your hand!!!

 

Everybody is different. If you really want the car, then go for it.

However, you should go ahead and do a purchase--not a lease. You will fall in love with the car and not want to let it go--trust me.

Enjoy life--you only live!

 

I wasn't trying to make you sound like a moron, but in my defense, I don't think you mentioned the fact that the G6 was a lease until later in the thread. You actually said that you bought it at one point.

Good luck, and don't rush into anything.

 

It sounds to me like you've already talked yourself into getting this car. Probably like you talked yourself into getting the G6 when it was "new."

Car dealers simply LOVE people like you!

BTW: What is so horrible about your '97 that you want to dump it?

 

You're crazy, and I make a living off of people like you.

 

The last thing you need is a new Corvette under lease. What you do need is some financial management counselling.

 

In bold is your own answer to leasing another car. As others said, DO NOT LEASE.

 

You better listen to him muchacho,
or hell do the mexican haty dance on your a$$


Nice to see ya T

 

First of all I disagree with the common sentiment in this thread that leasing is always a bad idea... that's ridiculous. There are more than a few situations where leasing is the right choice. I do not think however the scenario you painted is an ideal lease situation (that's being polite).

One of the main attractions of leasing for a lot of people is the ability to "try" a car for a shorter period of time usually 2-3 years, keep it at the end of the lease if you like it, or get another one when the lease is up. Usually the lease terms coincide with warranty periods, i.e. you are always driving something under warranty.

A five year lease sounds way too long, ask what they would charge you for a three year lease. You seem to be very focused on the monthly cost, not the total cost. It's usually in the dealerships favor when they know they have a buyer shopping monthly payment.

I do agree with your sentiment that trading in doesn't always end up being as bad for you when you live in a state where you are taxed on the difference between the trade-in and the purchase vehicle. Tax on your trade-in has to be deducted from what you could get as a private sale for you to due a fair comparison... you also have to add to the private sale the cost of any advertising.

One last thought... putting ANY money down on a lease is a bad idea. All you are doing is pre-paying your lease. If you wreck the car the day after you lease it... gap insurance covers the lenders interest in the vehicle... NOT yours. Which brings up another point... make sure any lease payment you are quoted spells out the components included, ie. monthly sales tax, gap ins, etc.

I have found the Edmunds lease/finance forums to be very informative.

 

My wifes family runs a lease business. His words to me about leasing are: "If you have the money, or can get a home equity loan, or a car loan, DO NOT LEASE. You will lose money." Now coming from a person who runs a leasing company, that is a very interesting comment.

 

Even I, humble female, can tell you DON'T DO THIS! It almost sounds like you have obsessive compulsive spending habits when it comes to cars.....I hope you own a home....a much better INVESTMENT. Listen to your forum brothers and sisters, dude....you may thank us in the long run.

 

Sell your cars! Buy don't lease the new corvette! It's the best financially in the long run!

 

If you don't need 2 cars, why do you have two cars? Don't let emotions get you into the new C6 and then find out you need a second car.

DBD's financial mantra: we all have a certain amount of income, resulting in a certain amount of budget. Bigger income = bigger budget = more stuff but does not = happiness. Regardless of the size of your budget, you can only be happy if you are living within it. So the difference is only "stuff." And don't everyone shoot me, but beyond basic transportation, cars (Corvettes too) are only stuff.

If you don't need the second car, dump the G6. You can makeup the loss in ___ months of no payments. The C6 is not a light year jump from what you have, so continue to enjoy the C5 while you get your finances stronger. I got my first vette at age 60 after taking care of other priorities.

btw have you figured in the added insurance costs for the C6?

DBD

 

 

 

you will take it in the rear with the upside down $$$$

 

dealers LOVE leases. that's why they aren't talking to you about anything else but a lease. you should not be concerned about the payment but the TOTAL cost. usually people get screwed in leases. they're far to complicated to really understand by the average buyer. again that's why dealers LOVE leases and why consumers should HATE them. just my opinion. good luck.

remember, you lease it you own it but you can't do anythig with it. you buy it, you own it but the bank doesn't care what you do with it as long as they get their money back...anyway/anytime because they don't want the car. lease = stuck because you agreed to give them the car back BUT only when they say (end of lease, not before) not when you want. THEY ALWAYS have control in a lease, not you.

 

If you don't understand the financing, don't sign. Leasing is not a good idea unless you have a way to expense the lease for tax purposes. Someone gave you straight advice, stop buying expensive cars new when you cannot afford them. The absolute best way to buy cars is a year or two old when you can take advantage of lower base cost and resulting reduced depreciation rate. Corvette's in particular are great cars to pick up second hand. Read the forum about people finding almost new Corvettes with incredibly low mileage. Finance your purchase on line and stop allowing a dealer to take 2-5 points profit off your loan amount.

 

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