dmp Posted February 19, 2008 Share Posted February 19, 2008 I LOVE the depreciation I've seen on the LGTs - makes buying one used a little lighter on the wallet! :-D SOLD | '06 spec.B - VF52/AVO/740cc/Up/Down | 238awhp | 50-80mph 3.1 seconds. Link to comment Share on other sites More sharing options...
BDII Posted February 19, 2008 Share Posted February 19, 2008 ^^true I plan on picking up an 05 with around 70k for $8000 at auction Need forum help? Private Message legGTLT Link to comment Share on other sites More sharing options...
whobaru Posted February 19, 2008 Share Posted February 19, 2008 About a year ago I bought mine barely used for 21,888 and it's still worth not much less. Link to comment Share on other sites More sharing options...
dmp Posted February 19, 2008 Share Posted February 19, 2008 ^^true I plan on picking up an 05 with around 70k for $8000 at auction Find a '05 w/ less than $40k at auction (MT, Leather, etc), for $10k - sell it to me for $15k! Silver, Gray, That neat light-blue? color, and pick me up at the airport? SOLD | '06 spec.B - VF52/AVO/740cc/Up/Down | 238awhp | 50-80mph 3.1 seconds. Link to comment Share on other sites More sharing options...
chenc544 Posted February 19, 2008 Share Posted February 19, 2008 The sticker for a 2005 base model legacy is 26,8xxx with 30k, it's worth roughly 16k Private sale, 14k trade in. basically, it loses half it's value in 1/8th of it's life span 1/8th?! I don't think my LGT can make it to 240k miles. BTW, IMHO that's why you never buy the model year that just came out and pay the sticker. Link to comment Share on other sites More sharing options...
smoss Posted February 19, 2008 Share Posted February 19, 2008 Not necessarily, your lease payment is based in part on the residual value of the vehicle at the end of the lease. So either way you are paying for the depreciation. This is very relevant to my current situation. I am trying to turn in my 05 lease and lease a new LGT. The buyback on the lease is currently well below market value (in my area). So the dealer is going to let me trade in my car (2 months left on the lease, few thousand under my mileage limit) and use that as my downpayment on my next lease. Not a bad deal. I turn in my car, no money down whatsoever, and lease a new LGT for the same payment I am paying now. I won't have to inspect my car this month, wont' have to put brakes on it (which it needs to pass inspection) and I get out of this months car payment... On top of that I am driving a car with a full warranty again. So why is leasing bad??? Anyway, I really want to lease a Spec B. However, after 3 years the Spec B (according to the banks) is worth 15k and the GT is worth 14k. The Spec B starts much higher in price. So guess who pays the difference??? Yeah, ME. So even though I want the spec B it is gonna be rough. The Spec B would end up being 100 bucks more a month, plus I have to put down an additional 2k along with the 1k equity in my current car... I am still hoping.. but I doubt it is gonna work. On top of that, the GT has $750 rebate right now... no rebates on the Spec B. Link to comment Share on other sites More sharing options...
chenc544 Posted February 19, 2008 Share Posted February 19, 2008 So why is leasing bad??? Don't know about your particular situation but read the second to last paragraph in this article and read your contract very carefully... http://www.automotive.com/auto-loans/36/loan-tips/car-leasing-faqs.html Link to comment Share on other sites More sharing options...
BDII Posted February 19, 2008 Share Posted February 19, 2008 Find a '05 w/ less than $40k at auction (MT, Leather, etc), for $10k - sell it to me for $15k! Silver, Gray, That neat light-blue? color, and pick me up at the airport? THey have sold for that much at auction Need forum help? Private Message legGTLT Link to comment Share on other sites More sharing options...
smoss Posted February 19, 2008 Share Posted February 19, 2008 Don't know about your particular situation but read the second to last paragraph in this article and read your contract very carefully... http://www.automotive.com/auto-loans/36/loan-tips/car-leasing-faqs.html Thanks for the info. I am fairly certain that they are talking about turning in a car in the middle of a leaese. I only have 2 payments left. Also, I am certain there are no fees for ending my lease early. Basically the only fee is that you have to make the rest of the payments. Also, the dealer can buy the car cheaper than I can since they don't have to pay tax or the buyback fee. I would have to pay both of those if I did want to buy it and re sell it. I am sure some leases have crazy early termination fees though. I make sure I stay away from those. Link to comment Share on other sites More sharing options...
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