Is 100,000kms too high for buying second hand?

[Skylarking]

The calc doesn't actually say how much to put into the lease.

Click savings breakdown?

(PS: never liked novated lease so i never took any up)...

 

[Anthony121]

Click savings breakdown?

(PS: never liked novated lease so i never took any up)...

oh yeah!

As I have looked previously, the savings are not there. Might as well pay cash if possible

 

[losh1971]

We have leases at work, I've looked into it and you never own the car, unless you buy it at the end of the lease, but then when selling it at the end of the lease you need to try and get the highest price you can. I only see them as good for having trouble free motoring while car is under warranty. I didn't see any real benefit in having one. Wife's last car was bought on finance. At least at the end of five years you own it.

 

[chrisp]

The calc doesn't actually say how much to put into the lease.

I asked the lease company what the interest rate was on the finance. They wouldn’t tell me as they said it’s a ‘rent‘ agreement and not ‘finance’ so they don’t need to declare the interest rate. I did some rough and ready calculations in excel on the numbers in their quote and worked out the interest rate was about 20%.

 

[Derekthetree]

I asked the lease company what the interest rate was on the finance. They wouldn’t tell me as they said it’s a ‘rent‘ agreement and not ‘finance’ so they don’t need to declare the interest rate. I did some rough and ready calculations in excel on the numbers in their quote and worked out the interest rate was about 20%.

Yep leasing will never be cheaper overall than getting a loan. But people want the newest shiniest car, every two years, to keep up with the Jones' next door and leasing works fine. Or they want something that they'd never get a loan for (Lamborghini) but can lease at some extraordinary monthly sum.

 

[Anthony121]

Plus all the extra insurances you have to get while having a novated lease through the leasing agent.

 

[hademall]

Received an emaiI and thought "really" is this question someone taking "tha puss?"
Comments then read like "War and Peace"
If your losing sleep about buying a used car having done only 100k, then I'd suggest take your $25k and buy a brand new Hyundai, get a 7 year warranty, sell all the tools you've never used and get yourself a good night sleep!
Jeeeez...

And to get a good nights sleep, read “War and Peace”

 

[hademall]

Does anybody buy a 100k car now?

Only the rich!

 

[hademall]

the interest rate was about 20%.

Yeah, same in the late eighties and early nineties.

 

[J_D 2.0]

I asked the lease company what the interest rate was on the finance. They wouldn’t tell me as they said it’s a ‘rent‘ agreement and not ‘finance’ so they don’t need to declare the interest rate. I did some rough and ready calculations in excel on the numbers in their quote and worked out the interest rate was about 20%.

That’s not the interest rate, that’s their profit margin.