how to get an FR-S - have 3 cars, 2 need to go

[Dadhawk]

I got off this emotional roller coaster by saving up and only paying cash for cars. Its amazing how freeing it is... (No, I'm not rich, I just developed patience. If you can buy a car for cash in the same amount of time it takes to pay one off, or less).

[Defuser]

Anyone who drives more than 15,000 miles per year simply should not lease a car. You won't find anyone willing to take over a high mileage lease, unless Harry and Lloyd happen to pass through Temecula.

Be patient, and avoid digging a bigger hole. Maybe also look into moving closer to San Diego, it doesn't make much sense for your entire family to have such a long daily commute. I used to live in Tierrasanta, sure I could have had a bigger place up north but...

Good luck.

[Koa]

Originally Posted by Dadhawk

I got off this emotional roller coaster by saving up and only paying cash for cars. Its amazing how freeing it is... (No, I'm not rich, a just developed patience. If you can buy a car for cash in the same amount of time it takes to pay one off, or less).

Freeing perhaps, but if one takes advantage of choice times or established relationships with a dealership, the terms on financing could equal you getting more bang for your buck.

Time value of money comes into play here- instead of the huge cash outlay right up front, if one got to negotiate lower interest rates on the loan and spread the cash out through a 72 month window, and then invested the remainder into medium to low risk markets (earning 1-3% typically), then they could actually make money on the outlay, instead of incurring a huge loss right up front with no opportunity to make any dough.

There's always a risk of soured investments and changing socio-economic conditions (losing one's job, for example)... but we pay to play, don't we?

[Scubaru]

Originally Posted by 艾洛

Sadly, I would never lease a vehicle just because you don't truly own the vehicle.

While I 100% agree with this, you also don't truly own the vehicle when you finance it. If you lease, Toyota has the title to the vehicle. If you finance, the bank (which could also be Toyota Financial Services), also has the title to the vehicle.

I lease because it gives me options. There's been some vehicles I've kept for years, and then others I was in/out of within a 2 year period. It gives me the option of getting out of that vehicle without digging a huge hole, aka: Negative Equity. If I decide to keep the car, then I can still buy it out at the end if I choose to do so.

On the other hand, I do drive under 12k a year which is the minimum amount to lease a Toyota with, so it works for me quite well. However, leasing definitely isn't for everyone. If it was a perfect world, I would just pay cash for everything.

[Defuser]

Quality post, Koa.

Some financing options are practically "free money". I got 1.9% on my FR-S. Not as good as the 0% I had on my 2009 Maxima, but still pretty friggen good.

[Scubaru]

Originally Posted by Koa

Freeing perhaps, but if one takes advantage of choice times or established relationships with a dealership, the terms on financing could equal you getting more bang for your buck.

Time value of money comes into play here- instead of the huge cash outlay right up front, if one got to negotiate lower interest rates on the loan and spread the cash out through a 72 month window, and then invested the remainder into medium to low risk markets (earning 1-3% typically), then they could actually make money on the outlay, instead of incurring a huge loss right up front with no opportunity to make and dough.

There's always a risk of soured investments and changing socio-economic conditions (losing one's job, for example)... but we pay to play, don't we?

Or if 0% is available, an even better incentive to keep my money in the bank!

[Koa]

Originally Posted by Defuser

Quality post, Koa.

Some financing options are practically "free money". I got 1.9% on my FR-S. Not as good as the 0% I had on my 2009 Maxima, but still pretty friggen good.

Thanks Defuser, I'm a musician and automotive lover by passion, but a finance scientist and accountant by profession. It's given me some multi-moldar, albeit cookey, perspective

1.9% is great! I managed just north of that at 2.4% (being young and with no mortgage doesn't inspire the banks much ha), leaving me around 1% buffer to offset the outlay given these investments hold at the market 5yr average ROI.

These cars and other non-mom mobiles seem to be hard to get that 0% special. Some probably wiggled their way into a <1% situation, though!

[mush]

ur already in the hole and u wanna dig deeper? not wise
its a cool car, but its not worth it to be more upside down

[CAMBAM_6]

Im not sure of your monthly financial burdens, but being on deployment I usually returned home w/ 8-10k. That was while still paying rent and monthly bills, and having fun during my port visits and blowing money on dumb stuff. But saving on deployment and selling the Ae86 and getting yourself out of debt first would be the best option if your truly stuck on getting a Twin in the future. Worrying about future mods before you have the car should be the last thing on your mind.

[EAGLE5]

Does the military have classes where they teach you to screw up your finances?

1. Sell the Corolla.
2. You drive the Altima.
3. She drives the Accord because she puts fewer miles on it.
4. Pay off the Altima with the cash you have.
5. At lease turn in, buy yourself a Fit or Insight. Work a deal to avoid some of the damage and extra mile fees. Talk to multiple dealers since you don't need to but from the same dealer you trade in to.
6. Save up.
7. Move closer to work.
8. Buy a house.
9. Buy a fun car.

You have kids now. Time to be more mature.

[swarb]

Idea: Rattle can the 86 white(primer is cop magnet), get quiet exhaust and drive it slow, VERY SLOW, always partial throttle. Get military plates/licence plate frames/stickers, always be in military garb while driving the car. Put pictures of your family on dash and in your wallet. If you ever get pulled over, show cop your military licence, and make sure he can see your family pic. NEVER pop your hood. At most you will get an exhaust ticket. Pay it. Put it in your head if you get impounded, that means it will put your frs dreams 1 year behind.

Get rid of the altima or stop driving it. 10-30cents per mile over mileage can be a lot of money. And early lease termination can be too.

If worse comes to worse, buy a reliable cheap cheap fwd corolla/camry/civic and suffer for a for a year or two until your financial situation is better.

Move to San Diego, you work there, your kids are going to go to there for school, why drive and rack up expenses?

Talk to your wife.

[swarb]

^ya I don't know why you cant drive the altima.
so are you deployed or not deployed?

[Touge_ninja]

Originally Posted by jsimon7777

Does the military have classes where they teach you to screw up your finances?

1. Sell the Corolla.
2. You drive the Altima.
3. She drives the Accord because she puts fewer miles on it.
4. Pay off the Altima with the cash you have.
5. At lease turn in, buy yourself a Fit or Insight. Work a deal to avoid some of the damage and extra mile fees. Talk to multiple dealers since you don't need to but from the same dealer you trade in to.
6. Save up.
7. Move closer to work.
8. Buy a house.
9. Buy a fun car.

You have kids now. Time to be more mature.

Best advice, give this man a medal.

[Tcoat]

Originally Posted by swarb

so are you deployed or not deployed?

Ya wait a second here!
Deployed 70 miles from San Diego?
Should I turn on the news? Am I missing something big going on?