Quote:
Originally Posted by PalmerGA
Disagree... you'll be paying $28,728 for an (almost) six year old car, over the life of the loan. By the time you pay it off in 5 years, it will be worth practically nothing and should you decide to trade it in before then you will owe much more than it's worth. I suppose it may be worth $20K now (maybe), but you will be financing $8,728 more than that and still be driving a 5-6 year old car. I think you can get a 2015 LS for about $20K.
DON'T DO IT! Sounds like you already made a bad deal on your lease car... don't make another one on top of it.
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Agreed. If you were talking straight purchase, maybe, but on a 72-month, I personally wouldn't go any more than $300-325/month for a six-year-old car. I've had to dig out from bad decisions on car purchases before. Had to trade in a brand-new '04 Ranger for a slightly-used '04 F150 because the Ranger wouldn't fit a babyseat and my crotch-piece forgot to talk to my wallet. At the end of the day, I wound up paying something like $42K for a used pickup truck with virtually no options. Fortunately, it's been a solid vehicle, and I still own it, but definitely wouldn't go down that road again.
Get clear of your lease first.