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Booked my car today
2012 Camry SE
8 Way power drivers seat
Sun roof
Navigation
Wheel locks
All weather floor mats

I paid $23,850. tax+DMV extra
Also got $500 edmunds coupon.
 

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Good day Tristar,
I intend to buy 2012 Camry SE V6. Thought you already bought the same car. When I made the test drive, I have heavy nose feeling on the steering. Did you feel the same ? I knew V6 is 180 lbs more than LE V4 but when I made test drive on Honda Accord 2012 V6, I don't feel heavy nose feeling.
It'll be very helpful to me if you could pls explain yr driving experience on your SE.
Tks & Brgds
Tun
 

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I understand people that need a car, but why buy a new car every 2 -3 years? you loose money everytime you buy a new car, besides, you are always paying a car bill. Money you could use for many other things, anyway drive a car to the ground, even if you want to buy a car in a couple of years, put that money away. the 2012 is in its first year, i'll wait before buying, besides them knowing how it actually drives on the road for so many customers and fixing anything that happens, it'll be cheaper too. Sometimes it comes of as a Hyundai but its still a cool looking ride IMO.
 

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Some people just prefer having the latest and greatest technologies and toys in their car, and for some it's no problem to get new cars that often.
 

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I understand people that need a car, but why buy a new car every 2 -3 years? you loose money everytime you buy a new car, besides, you are always paying a car bill. Money you could use for many other things, anyway drive a car to the ground.
It's pretty simple, even when you're not making a payment, you're making a payment. So you made 60 payments of $350, now your stuck with a 5 year old car with what? 60k? 75k? Next your putting in tires, brakes, suspension, plugs, emissions parts, timing belt.... and other unexpected repairs. You end up spending 1-2k per year keeping it on the road anyways...and you're driving an ancient car at that point which is getting worse gas mileage and is less safe than a new one.

Instead of that I just lease cars, instead of $350 it's more like $200...never have an out of pocket expense for the car thanks to Toyota care....always driving the latest car....never have to worry about loss of value....

So multiply the extra $150 per month your spending to buy the car by 60 months...that's $9000. What's a 5 year old Camry with 60-75k on it worth? Less than 9k on trade...seems like you went backwards on that one...
 

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It's pretty simple, even when you're not making a payment, you're making a payment. So you made 60 payments of $350, now your stuck with a 5 year old car with what? 60k? 75k? Next your putting in tires, brakes, suspension, plugs, emissions parts, timing belt.... and other unexpected repairs. You end up spending 1-2k per year keeping it on the road anyways...and you're driving an ancient car at that point which is getting worse gas mileage and is less safe than a new one.

Instead of that I just lease cars, instead of $350 it's more like $200...never have an out of pocket expense for the car thanks to Toyota care....always driving the latest car....never have to worry about loss of value....

So multiply the extra $150 per month your spending to buy the car by 60 months...that's $9000. What's a 5 year old Camry with 60-75k on it worth? Less than 9k on trade...seems like you went backwards on that one...
I disagree. You're constantly making car payments as opposed to someone who keeps a car for 8 to 10 years or even longer. And $1K-$2k per year for maintenance? At that rate, you have yourself a lemon.

Financially, you're always better off keeping a car long-term. Some maintenance, yes, but no monthly payment and lower insurance as well. Buying or renting, i.e. leasing, a depreciating asset every 3-5 years simply doesn't make sense financially. I'm in the financial planning business and it never ceases to amaze me that clients don't save nearly enough for retirement but have newer cars in their garage. Does not make sense to me and sorry if I sound a little preachy...

I'd rather bankroll that money for college expenses and/or retirement.
 

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BeerSteakTxas
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It's pretty simple, even when you're not making a payment, you're making a payment. So you made 60 payments of $350, now your stuck with a 5 year old car with what? 60k? 75k? Next your putting in tires, brakes, suspension, plugs, emissions parts, timing belt.... and other unexpected repairs. You end up spending 1-2k per year keeping it on the road anyways...and you're driving an ancient car at that point which is getting worse gas mileage and is less safe than a new one.

Instead of that I just lease cars, instead of $350 it's more like $200...never have an out of pocket expense for the car thanks to Toyota care....always driving the latest car....never have to worry about loss of value....

So multiply the extra $150 per month your spending to buy the car by 60 months...that's $9000. What's a 5 year old Camry with 60-75k on it worth? Less than 9k on trade...seems like you went backwards on that one...
:)
car salesman talking...
:)
 

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:)
car salesman talking...
:)
yes, no doubt.

I got curious and went to the Toyota configutor website. A five year lease on an LE will cost you $22.7K. Years 6 -10 for another lease will at least double your cash outflow to $46K.

Buying that same car will cost you $29.3K (includes interest). Let's say years 5-10 cost you $1K annually in repairs and your residual is $3K at year 10. Your out of pocket is roughly $31K.

By keeping a car five extra years, you'll save approximately $15K! That's significant savings if you ask me. Rotating in and out of new cars seems to be an expensive choice.
 

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Discussion Starter #129
I understand people that need a car, but why buy a new car every 2 -3 years? you loose money everytime you buy a new car, besides, you are always paying a car bill....
People do different things with their money e.g. collect things, go on trips, buy electronics, etc. I like to own new cars and it’s probably more of an addiction at this point since I’ve owned 11 new cars since 2004. When I lived in so cal (up until 2005) I would lose money (approximately 1k+1.5k) on trades, but ever since I sold my Scion xB RS1.0 and moved to Vegas, I haven’t lost a lot of money on a trade if at all. I think the most I lost to date was around $600 since living in Vegas. When I traded in my Jetta TDi for an Audi A4 I lost $260 after owning the Jetta for 7 months. I’ve put little (1.5k or less) to no money down until I bought the Audi which I put close to $6k down, but I plan on keeping this one for 3-4 years until I can buy an S4. I get great apr’s and I know how to work my deals to pay as little as possible. It also doesn’t hurt that in Vegas you get a tax trade in credit, so that usually saves me from losing money and it doesn’t cost me anything. I’ve been really positive on trades which outweigh the negatives I’ve had. When I sold the matrix my wife had (not listed since she had it before we met) to carmax, we were positive $2k. We bought a FJ at that time with the $2k down and later traded it for a 4Runner and we were close to $4k positive when we did that trade. We recently traded the 4Runner for the Camry and was $6k positive on that trade. We will likely own the Camry for two years at which point it will be traded in for Q7 or ML350 since my wife will be done with BSN.
 

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'11 Camry SE
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yes, no doubt.

I got curious and went to the Toyota configutor website. A five year lease on an LE will cost you $22.7K. Years 6 -10 for another lease will at least double your cash outflow to $46K.

Buying that same car will cost you $29.3K (includes interest). Let's say years 5-10 cost you $1K annually in repairs and your residual is $3K at year 10. Your out of pocket is roughly $31K.

By keeping a car five extra years, you'll save approximately $15K! That's significant savings if you ask me. Rotating in and out of new cars seems to be an expensive choice.
Your numbers are way off.
With a Camry, lease vs buying results in $500-$1000 difference (buying has these savings). However, with a lease you don't have to deal with selling the car and you get a fresh car after X amount of years, OR you can purchase your leased car.
If you run the numbers accurately, then you will see this difference.
 

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BeerSteakTxas
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Your numbers are way off.
With a Camry, lease vs buying results in $500-$1000 difference (buying has these savings). However, with a lease you don't have to deal with selling the car and you get a fresh car after X amount of years, OR you can purchase your leased car.
If you run the numbers accurately, then you will see this difference.
__________________
I used to sell cars and run lease vs purchase numbers for me couple times.
about a month ago I was thinking about lease again.
not sure what kind numbers you got, but my numbers clearly told me to stay away from lease.

unless you got paid for mileage/ or your employer make full or partial payments for you or really dont care about losing money, than lease is the good option for you.
 

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Financially, you're always better off keeping a car long-term.
Really? So let's go back to what I said before. You financed the car for $350 per month for 5 years. Let's say you kept it for 10 years. After 10 years most cars are useless anyways.... Thats the SAME as if you paid $175 per month for 10 years. You can lease a Camry for $175 per month AND get free oil changes for two years EACH time you lease. You'll also save on insurance since you are driving a safer car, you'll save on gas as well since they keep getting better mpg.....

Please explain to me where my numbers are off.
 

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TN の がしょう
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Leasing both has its upside and downside. Upside is you pay half of what you would if you're buying the car, get a new car every 3-5 years depending, and save some money. The downside is you have to constantly be wary of your miles before you return it back to the dealer. Mileage penalties is where they get you at. Free oil change for two years is nice but come on. How lazy can you be to not change your own oil? I rather spend 10 minutes changing my own oil than waiting in a Toyota service lobby for more than an hour.

I rather buy the car than lease it because I see it a waste of money for you to spend thousands of dollars in those 2-3 years only to return the car when you could of already paid off half or almost 80% of it by then. By ten years, the car already paid itself off so it's not really useless.

I bought my FX35 new when it came out back in 2003. Paid it all off by 2005. Yeah, I paid it off in two years. It was tough but boy was I proud of myself. Same thing when I bought my 2005 camry. You don't get that feeling with a leased car. My car still runs good, minus some electrical glitches, but it already paid off itself.
 

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I rather buy the car than lease it because I see it a waste of money for you to spend thousands of dollars in those 2-3 years only to return the car when you could of already paid off half or almost 80% of it by then. By ten years, the car already paid itself off so it's not really useless.

I bought my FX35 new when it came out back in 2003. Paid it all off by 2005. Yeah, I paid it off in two years. It was tough but boy was I proud of myself. Same thing when I bought my 2005 camry. You don't get that feeling with a leased car. My car still runs good, minus some electrical glitches, but it already paid off itself.

I think you need to take a look at the numbers a little closer.

How much money did you "waste" with the depreciation of your car? Sure you paid it off in two years, but it was worth half what you paid by the time you got the title. That money was gone, same thing as if you leased it. You lose 50% after 2-3 years, it doesn't matter if you buy or lease.

The difference is you lost the OTHER 50% while driving an old car, which you are now investing repair money into, when you could have simply got a new one and spent the same amount.

After 10 years, and 120-150k how much is that car worth? Pretty much nothing after you account for the money you spent keeping it up.

All you've done is spend a LOT of money to keep one car for a long time, when leasing allows you to spend a LITTLE money to keep a car for a short time. 6 of one half a dozen of the other, except with leasing you get to drive a newer, safer car.



This goes back to the old saying, people buy with 90% emotion and 10% logic. Of course you "feel" better when you "own" the car, but that just clouds your judgement.
 

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TN の がしょう
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Define investing repair money because I only spent $1000 for repairs total on all of my cars. Minus my 1997, which I bought used. If you can maintain your car pretty well, you don't even spend that much on repairs, just maintenance which is a given for any type of car. Each person has their own opinions about buying cars and leasing cars. I know how leasing works and how much money I could be saving, but I already went that route once and the mileage fees reamed me in the end. Also, your career can be a major factor in leasing or buying because I do a lot of driving and leasing is out of the question as I don't want to be penalized thousands of dollars for going over 10k miles than the contract agreement. That thousands of dollars of penalties could of went into a down pay for a new car. There are other major factors besides "Calculating" how much money you can save through leasing over buying. It's not just emotional that clouds my judgement as "per your words." Also, I don't have to worry about car payments every month, every year for a leased car. Benefit of buying car is no payments after you paid it off. Repairs? Only if you abuse your car do you rack up repair bills. That and the manufacturer's quality reputation also plays a factor.

Maybe if I was buying an European car, I would lease it only due to it's reliability issues. Japanese cars, I would buy it due to their reputable reputation in quality, especially Toyota, minus their recent fiasco with quality. American, it's 50/50, depending what if I buy a truck or car. Everything plays a factor in what car people will lease or buy.

Plus, I've been saving money since 2009 after I paid off my 2005 camry. So instead of me spending that money on a new "leased" car, it's sitting nicely in my bank and my car still runs like new.
 

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Your telling me you have spent $1000 total, including tires and brakes? That's insane, and should be considered luck not the rule.

Of course, if you don't know how many miles you drive that's different. But, whether you buy or lease the more miles you drive the more it costs you either in fee's or your own personal vehicle depreciation. Just because you don't "see" it missing, doesn't mean you haven't lost it.


So you paid off your 2005 Camry, how much was the car 20k? 20k over 6 years at 0% is $277 per month. Had you been leasing a car at $175 per month for 6 years you would have $7344 more in the bank. The difference is now you own a 2005 Camry with how many miles? 70? Ok so your Camry is worth 7k or so wholesale. I'm sure you have put at least tires and brakes in it. Now you own it for $6300 or so. Plus 10-15 oil changes @ 20 bucks.

You've spent more money to own this car.
 

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TN の がしょう
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Your telling me you have spent $1000 total, including tires and brakes? That's insane, and should be considered luck not the rule.

Of course, if you don't know how many miles you drive that's different. But, whether you buy or lease the more miles you drive the more it costs you either in fee's or your own personal vehicle depreciation. Just because you don't "see" it missing, doesn't mean you haven't lost it.


So you paid off your 2005 Camry, how much was the car 20k? 20k over 6 years at 0% is $277 per month. Had you been leasing a car at $175 per month for 6 years you would have $7344 more in the bank. The difference is now you own a 2005 Camry with how many miles? 70? Ok so your Camry is worth 7k or so wholesale. I'm sure you have put at least tires and brakes in it. Now you own it for $6300 or so. Plus 10-15 oil changes @ 20 bucks.

You've spent more money to own this car.
I never changed out my brakes yet for my infiniti or the camry when I had it. Still don't need to for my FX. Changed the pads two years ago for $40. I only changed the pads for the camry which costs me $40. The tires are considered maintenance, not repair in my opinion so they don't count. I only spent around $800 for repairs on my Infiniti for new oil seals, oil pan, and rear shocks, this was all within last year. Normal wear and tear repairs. So within ten years...$1000 in repairs is not that bad for a car over 150k miles.

I don't have my 2005 camry anymore. I totaled it in 2009 with 110k miles and my insurance gave me about $11k back for it's actual blue book value back then, which is over half the cost I bought it for, which was around $16k before taxes and I only spent about $100 for a new dogbone engine mount within those 5 years.

My dad bought his 2003 camry brand new. Paid it off within a year actually. Never had any major repairs till recently this year for a new exhaust system, which ran him $1200k. He has over 260k miles now, still runs like new. As I said, if you know how to maintain your car well each year, and have it running real good, it's worth it.

Overall, I don't think I lost much money over leasing, I still have the FX running like new. I really don't see it reasonable to keep paying car bills each month for a lease car and risk higher insurance bills in the process. As of 2009, I'm car payment free and racked up a considerable amount for a new car I'm planning in a year or two, and I will also be purchasing that as well depending which brand I go for.

You and your numbers do nothing for me as I already justified my way of spending money on a car. You speak logic, I speak real time experience. Let's just leave it at that. :thumbsup:
 

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Well driving 110k miles in 4 years isn't going to work for a lease, you need a Prius. :lol:

I actually just Totalled my Avalon lease about a year old and 13k miles on it....I got $4200 back after paying off the lease and had only paid about $3500 in payments with zero down. Go figure. Toyota book values are amazing.
 

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Really? So let's go back to what I said before. You financed the car for $350 per month for 5 years. Let's say you kept it for 10 years. After 10 years most cars are useless anyways.... Thats the SAME as if you paid $175 per month for 10 years. You can lease a Camry for $175 per month AND get free oil changes for two years EACH time you lease. You'll also save on insurance since you are driving a safer car, you'll save on gas as well since they keep getting better mpg.....

Please explain to me where my numbers are off.
Your analysis is typical of curve fitting, that is, you're making numbers up to fit your conclusion. Its like saying 5 x 2 = 10 and that's the same as 10 x 1 = 10. True, and like this example, your numbers are factual but you're simply making numbers up that equate to one another to come to your conclusion.

Use a real life example as I did. That said, it's your turn...please explain to me why my numbers are off. And to save yourself some time, simply go to the toyota configurator site and you'll see these same numbers.

A five year lease on an LE will cost you $22.7K (including downstroke). Years 6 -10 for another lease will at least double your cash outflow to $46K.

Buying that same car will cost you $29.3K (includes interest). Let's say years 5-10 cost you $1K annually in repairs and your residual is $3K at year 10. Your out of pocket is roughly $31K.

By keeping a car five extra years, you'll save approximately $15K!
 
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