Ma new babie

Cherokee_Cruiser

Cherokee_Cruiser

Bronteroc
2017 Infiniti QX60 AWD................


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MSRP $46,610.


I got a steal of a deal on a 39 month lease. Due up front just $700 bank/acquisition fee. And then 39 months at $444.89 per month. This includes all taxes, doc fee, title, registration, etc, built-in the monthly payment. I looked around everywhere and negotiated over 2 months to get a deal like this.

Basically $700 down and under $445/month for 39 months isn't bad for a 47k vehicle. :)

And yeah, @Screaming_Emu 2nd kid DOES mean we need more space, despite how people in 1992 could fit 3 kids in an Acura Integra. ;)
 
mwflyer said:
How many miles a year on the lease?
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10k miles, so 32,500 miles total.

NickH said:
I need ATN to come back and explain how that's anything but horrifying...
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That included everything, stuff like registration over 4 years worth because NJ takes that all upfront for a lease. That's like $312 right there, registration fees for 4 years.

I figured out the net cost of car and separated it from taxes and fees:

Car itself 15,449.41 and taxes/fees = 2,601.34

Taxes and fees you'd pay on any car you get, so really it's the 15,449.41 price that matters.

The other option is to buy a 3-4 yr old used one, around $26-28k. Plus taxes. About 36-45k mileage. And then I have to guess at its value after 3-4 years when it is 7-8 yrs old with 70k+ miles. Best guess would be around $12-14k. I'd still be "using" almost $14-17k of value over that time. So if one is going to keep the car only 3-4 years, for this particular car, IMO the math comes fairly close.
 
I think you got a great deal, but I absolutely cringe at the thought of spending ~$15/day on a car. I just added up mine it is around $1.12/day including taxes and mx, which actually still seems extremely high and kinda pisses me off!

I think the leasing deals these days are better than buying new especially if you don't plan on keeping the car. Typically owning an older paid for car only makes sense if you work on it yourself and keep it well past most people's prime to just have liability on it.
 
Dang, what car do you have that's $1.12/day?

Now that we have the SUV, I'm selling the Altima which we bought (including taxes, dealer, and DMV fees) at $14,400. It was 2 yrs old at the time. Now it's 7 yrs old and I'm selling it for $6,300. That means I used $8100 total over 58 months, and it comes out to $140/month or about $4.67 per day. Of course that doesn't include maintenance, that's just straight math from buying price to selling price.

I don't like to keep "old" cars and my definition of old is 8 years :)
 
Cherokee_Cruiser said:
Dang, what car do you have that's $1.12/day?
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An "old" one

I don't need anything fancy, it sits in my garage or at the airport 99% of the time.

Depreciation, taxes, upkeep, insurance all add up on newer cars and cost many thousands of dollars a year. I'd rather buy things that make me money instead. In your case over $6,000 post tax. Which is around $9,000 pretax or close to a months pay check every year just to pay for a car. Think about that for a second...

(sorry, didn't mean to rain on your parade here)
 
No no, it's all good. Knowing how we treat and keep cars, my other option for this particular Infiniti was to buy it used (30k with taxes) and then sell it later. My guess is 3 years later, it would be worth 14-16$ so either way I'd be spending (losing) about $5k a year anyway.

Now a real freakin steal would have been this same lease, but having a small business on which I could write it off on...
 
Cherokee_Cruiser said:
No no, it's all good. Knowing how we treat and keep cars, my other option for this particular Infiniti was to buy it used (30k with taxes) and then sell it later. My guess is 3 years later, it would be worth 14-16$ so either way I'd be spending (losing) about $5k a year anyway.

Now a real freakin steal would have been this same lease, but having a small business on which I could write it off on...
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If you're tough on cars, and now have kids, I would've bought a 2010-2012 Sienna with ~70k miles for around $15k and planned to keep it until you're done hauling kids around after 15 years.

Assuming $1,000/mx a year and a value of $0 at the end of that period you're at a yearly cost of around $2,000 vs $6,000 leasing that new car. After year one you've saved $4,000 (simplifying it), at 7% rate of return plus adding $4,000 savings every year, at year 15 you have $100,000 in your brokerage account ($85k after capital gains) or 529 plans. Total cost was around $30,000 to run the car. Cost of ownership leasing, assuming a modest increase over that time period, runs around $110,000.

So... in summary it will cost an additional estimated $165,000 leasing that car vs running an older one until your kids are driving themselves or rather a self driving car is driving them. That is a true opportunity cost of $916 a month post tax or $16,000 pretax/yr (!) assuming 30% bracket. Maybe your wife makes really good money and this is a drop in the bucket, I know a guy whose wife is a dentist and they spend money like it's an unlimited resource because it basically is, so I can understand both sides.

Now you know why I drive an old car. The time value of money is too strong a pull, but I would really like a Panamera, one of these days :).

Sorry, I enjoy decisions such as this :).
 
wheelsup said:
If you're tough on cars, and now have kids, I would've bought a 2010-2012 Sienna with ~70k miles for around $15k and planned to keep it until you're done hauling kids around after 15 years.
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If I woke up every morning to a mini-van in my driveway I would probably vomit on my way out the door. 'Tis a fate worth than death.

(Have 3 kids and a dog)
 
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