I am ready to place an order for a new car -- but...

[PricklyPete]

Before everyone gives amdhunter a hard time about not being able to afford a house...he is in New York...so likely he can not afford one at this time.

That being said, it is total crap that a single person can never afford a house...even in New York. It's called priorities. If you really wanted to buy a house, you wouldn't own a car (you admit yourself you don't need one) and you'd be saving every penny for the house. You've chosen otherwise, which I totally understand...their is nothing magical about owning a house...but if that was what you wanted, you certainly could afford one at some point on a single persons salary (if you are doing well enough to be throwing away $3800 just to end a lease early).

 

[Arkaign]

Uh, that is completely untrue.

Unfortunately, this type of mentality seems to go hand in hand with those that think that leasing a car is a wise financial decision. It makes far more sense to buy a car for the long haul (100k+ miles), and trade in when you actually need to. This leaves more $ to really put towards important things in life.

It always stuns me when I meet someone (I know several people like this) who have always had relatively expensive cars, paying $500+ monthly for the car, then $100-$200/mo for full coverage insurance, plus various leasing fees, and yet they're permanently in apartments or whatnot paying $1000+/mo as well. Home ownership is not for everyone obviously, but these people would have been in much better shape if they had spent 10 years paying hard into a modest place that they actually were working towards owning. Pay off the mortgage earlier, and suddenly all you've got is property tax and utilities (and any stupid HOAs if applicable). It's a tangible asset, and even if the housing market takes a hit, you still have something that's really yours.

 

[Arkaign]

Before everyone gives amdhunter a hard time about not being able to afford a house...he is in New York...so likely he can not afford one at this time.

Ah yeah, if you're in NYC area, buying a house is pretty god damned expensive, but so are the rents as well.

 

[amdhunter]

Ah yeah, if you're in NYC area, buying a house is pretty god damned expensive, but so are the rents as well.

If I were going to buy a house, I'd move to Connecticut.

Also, I called the company responsible for inspection for the lease turn-in, and was greeted by the most unpleasant operator. She couldn't understand me for some reason when I gave her my VW lease account number, and then proceeded to get angry and tell me to spell out the numbers.

She must have been in her late 90s. I hung up.

 

[ichy]

Unfortunately, this type of mentality seems to go hand in hand with those that think that leasing a car is a wise financial decision. It makes far more sense to buy a car for the long haul (100k+ miles), and trade in when you actually need to. This leaves more $ to really put towards important things in life.

IMO that kind of depends. For some people cars are a real hobby. They like go to the track & car shows on weekends, things like that, so they're getting much more out of their car than just transportation. I can understand spending money on something you really enjoy, even if I would not do the same thing. What strikes me as really foolish are those who feel the need to lease or trade in every few years because they need to keep up with the joneses, or think that driving a flashy car makes them a baller.

 

[amdhunter]

IMO that kind of depends. For some people cars are a real hobby. They like go to the track & car shows on weekends, things like that, so they're getting much more out of their car than just transportation. I can understand spending money on something you really enjoy, even if I would not do the same thing. What strikes me as really foolish are those who feel the need to lease or trade in every few years because they need to keep up with the joneses, or think that driving a flashy car makes them a baller.

I fall into the hobbyist category. Trust me, if I wanted a flashy car, I would not be choosing a 135i. I am choosing it because it has the best price/performance ratio out there.

Flashy would have been an S4/S5.

The 135i looks like it's retarded. :awe: I won't be turning any heads in it.

 

[alkemyst]

IMO that kind of depends. For some people cars are a real hobby. They like go to the track & car shows on weekends, things like that, so they're getting much more out of their car than just transportation. I can understand spending money on something you really enjoy, even if I would not do the same thing. What strikes me as really foolish are those who feel the need to lease or trade in every few years because they need to keep up with the joneses, or think that driving a flashy car makes them a baller.

I don't think you understand why many get new cars every year to two years. It's like wearing a pair of jeans 10 years. Some do that too.

Usually the people upgrading aren't looking at their cars at an investment, nor missing the money.,

 

[ayabe]

The 135i looks like it's retarded. :awe: I won't be turning any heads in it.

Until you hit the gas

 

[exar333]

So far my car looks flawless. No broken anything, no dings, interior still looks brand new, back seats have never been sat on, trunk is just messy, spare is unused -- 4 brand new tires with less than 30 miles on them...under mileage by 22000 miles...etc.

I will be amazed if he finds anything.

You could try to negotiate an early lease termination because your car is in such great condition/mileage.

 

[amdhunter]

You could try to negotiate an early lease termination because your car is in such great condition/mileage.

Man, all I want is to get rid of the car. I am willing to pay anything they want for the least hassle involved. I know it sounds retarded but...I dunno, I just want something new.

I plan to only sign a 2 year lease with BMW.

 

[MiataNC]

The only thing I have that I enjoy immensely is driving around. I have the money to throw around right now, and I really want to place the order for a Spring delivery.

1. Take the money you would spend buying out your lease and buy an older Miata.

2. Fall in love with how much fun you can have for so little money, and drive the hell out of the Miata.

3. Spend the next 9 months of your lease saving for the new BMW.

4. Decide after the lease is up if you still want/need the BMW.

5. Profit!!

 

[amdhunter]

1. Take the money you would spend buying out your lease and buy an older Miata.

2. Fall in love with how much fun you can have for so little money, and drive the hell out of the Miata.

3. Spend the next 9 months of your lease saving for the new BMW.

4. Decide after the lease is up if you still want/need the BMW.

5. Profit!!

I'd rather get an s2000 before a Miata.
Why do Miata fans love those cars so much?

 

[PricklyPete]

I'd rather get an s2000 before a Miata.
Why do Miata fans love those cars so much?

Have you driven one???? If you haven't...drive one and you'll understand. I never felt like I fit in the NA or NB platform, but I drove a NC not too long ago (my wife and I almost bought one) and I still get excited thinking about it. We will DEFINITELY be buying a 2009 in a 4 years when the prices come down and I forget how much I just spent on her new car.

 

[StageLeft]

Have you driven one???? If you haven't...drive one and you'll understand.

Yep. I've only driven in one as a passenger, over 15 years ago. I still remember how fun it was. I am pretty sure I'd really enjoy to have one now, too.

 

[Demo24]

I'd rather get an s2000 before a Miata.
Why do Miata fans love those cars so much?

While both similar cars, they are very different animals. Both very fun though!

The real question is why do you keep leasing cars when you don't ever want to keep them for as long as you signed for?

 

[PhoKingGuy]

AMDhunter, at your inspection ask if its possible for VWcorporate to purchase your car for corporate use. I know they purchase the lease returns in the best condition for that. If they do then you might not have to pay any lease penalty if it doesn't sell for what they want.

I have my return inspection in a few days and mine will probably be headed to corporate for executive use.

 

[PricklyPete]

AMDhunter, at your inspection ask if its possible for VWcorporate to purchase your car for corporate use. I know they purchase the lease returns in the best condition for that. If they do then you might not have to pay any lease penalty if it doesn't sell for what they want.

I have my return inspection in a few days and mine will probably be headed to corporate for executive use.

I'm still surprised about this whole deal where you have to pay for the difference between what they were expecting to make and what they actually make. Do you get a rebate if it sells for better?

I've never leased a car, so I don't know if this is normal, but it seems like you can get royally screwed if the calculations made before the lease end up being dead wrong after the lease is up. Anyone want to enlighten me on if this is a normal part of most leases and how exactly this works.

 

[fbrdphreak]

First of all, we told you not to buy that VW. You didn't listen, and here you are in this situation. Maybe this time you will listen? Probably not.

Second of all, do you have 6-12 months of living expenses saved up? Are you maxing out your 401k and contributing to another retirement account? No credit card debt? No student loans? You said you don't have a house. With the right downpayment and credit score, anyone can buy a house (except in CA of course). Don't know where you're located, but now is an excellent time to buy a house AND you will get a fat tax credit next year. Hell, you could buy a house now and use the credit to get your BMW next spring.

The point of point #2 here is that unless you can answer YES to all of those questions, you are stupid for wasting your money on ditching this car. Stay in the lease, save your money, and do the European Delivery later this year/early next. You say the only thing you enjoy is driving, then this is an awesome opportunity to pick your car up at the factory and drive it around Europe for a while.

Thirdly, you don't want to end up with a bunch of money in a few years and nothing to spend it on because you're too old? Dude WTF. Get a grip on reality. You're a young guy with disposable income. Even if you're alone in your 30's you'll have plenty to spend it on.

Next year you could be a young guy with no job. In five years you could be unemployed. You could end up disabled with little income (SS, disability from work). Max out your savings and stop contributing to the downfall of our society by being fiscally irresponsible.

 

[PhoKingGuy]

I'm still surprised about this whole deal where you have to pay for the difference between what they were expecting to make and what they actually make. Do you get a rebate if it sells for better?

I've never leased a car, so I don't know if this is normal, but it seems like you can get royally screwed if the calculations made before the lease end up being dead wrong after the lease is up. Anyone want to enlighten me on if this is a normal part of most leases and how exactly this works.

Its only if you turn it in early. They just told me mine would be going to VWoUSA because of how nicely I kept it

 

[amdhunter]

First of all, we told you not to buy that VW. You didn't listen, and here you are in this situation. Maybe this time you will listen? Probably not.

Second of all, do you have 6-12 months of living expenses saved up? Are you maxing out your 401k and contributing to another retirement account? No credit card debt? No student loans? You said you don't have a house. With the right downpayment and credit score, anyone can buy a house (except in CA of course). Don't know where you're located, but now is an excellent time to buy a house AND you will get a fat tax credit next year. Hell, you could buy a house now and use the credit to get your BMW next spring.

My car is the last piece of debt that I have to my name + $400 on my CC for two tires I blew out on New Years Eve.

I have given thought to purchasing a house, but the downpayment would entirely wipe out my savings. I don't think I am ready for all the bills that would come with home ownership. (Maintenance, insurance, taxes, water bills, etc.)

Also, I live in NYC, and the homes here have not dropped at all. I looked to dump my car altogether and purchase a nice condo in Midtown Manhattan, and gave up on that after I saw that no one is desperate/looking to sell here.

 

[lastig21]

It makes absolutely Zero sense that VW would hold you accountable for any shortfall incurred by auctioning off the car. If you kept the car until lease end you wouldn't be responsible. They calculated the residual, and you made your payments. They should be thanking you for turning the car in early in the condition you described. They received all of their money out of the lease (after you pay your $3800), and can sell the car with 9 fewer months of depreciation.

 

[BarneyFife]

Wait out the lease and get a 335i. You need to step away from buying hatchbacks.

 

[fbrdphreak]

My car is the last piece of debt that I have to my name + $400 on my CC for two tires I blew out on New Years Eve.

I have given thought to purchasing a house, but the downpayment would entirely wipe out my savings. I don't think I am ready for all the bills that would come with home ownership. (Maintenance, insurance, taxes, water bills, etc.)

Also, I live in NYC, and the homes here have not dropped at all. I looked to dump my car altogether and purchase a nice condo in Midtown Manhattan, and gave up on that after I saw that no one is desperate/looking to sell here.

Well then it's your dough, but it's still just silly to waste money like that. Not to mention the way you described yourself, it seems like the European Delivery would be awesome. I understand the whole wanting to have someone to go with thing, but at the same time it's all that much better going by yourself. You can spend all the time doing everything you want to do, not having to adjust plans around someone else, and maybe you'll meet a nice Frau over there ; Sprechen sie Deutsch? :sneaky:

 

[KentState]

I'm in the same boat, but I'm using the next 9 months to learn everything about the car I want. Today, we even went to the dealer and I got to sit in the exact car I want, but I know pissing away $6k to get out of a lease is pointless. I also know that if I want the car as much in 9 months as today, then it's meant to be.

The plan right now is to do the museum pickup, drive it through the mountains, stay somewhere nice in Tennessee, and ask the girlfriend to marry me. If it all works out, I will get the car I always wanted and the best girl ever.

 

[madoka]

I don't want to make a purchase if Winter is coming up. I want to enjoy the car this Spring/Summer/Fall.

But Mooooomm. I don't wanna have to waaaaiiiiittt.