Quote:
Originally Posted by keithwand
Other than our 2005 Thunderbird which we recently sold after 7 years and only lost 4K from the purchase price and our 1995 Corvette that we sold for 12K less than we paid after 4 years we have lost considerably more with domestic than foreign.
Last "foreign car was a 2008 Infiniti M35 that I we sold after 2 years and recovered all but 3K from the purchase price.
Any Lincoln or GM has taken bigger hits.
Thus my saying I would not "buy" a domestic car.
I would lease and am because it is merely rent and when leasing its about the payment not the resale.
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Not really true. When you lease you base the lease rate on your purchase price and the residual value of the car after the lease term. I once leased a new Toyota and after 3 years leased the exact same make and model again and my lease payment dropped by 1/3 due to the high residual value of the vehicle I was turning in. The trick to leasing is to determine the car you want, negotiate the selling price as low as possible, then make the decision to pay cash, buy with dealer financing, or lease. Base all these different options on the sale price you negotiated. Because they base the lease payment on the residual value, a lower selling price will translate into a lower lease payment. I always tell the salesman that I don't know what my plan is, that I will determine that when I sit down with the dealership finance person. They will try real hard to talk you out of that, but stay firm and determine the final selling price first. Only then look at the different options of how you will pay. Once you walk in and say "I want to lease" or "I want the .9% financing" or "I want to trade in this" the deal is already structured in the dealerships favor.