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Old 07-14-2007, 02:59 PM   #1
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Leasing 07 GT?

As much as i dont like them, my buddy is in the same prediciment as me, and has come up with a solution.

Leasing.

we are both upside down in our cars by equal amounts. his is worth 17k and he owes 24k, mine is worth 8-9k and i owe 11k.

right now ford has alot of incentives, i think he was saying 1500 cash back, not to mention the x-plan if you can get one. for him, he still needs to put down 4-5k to break even after the trade-in, but for me, i would be golden with just the incentives after the trade.

the lease idea is because we both get bored quickly with cars. i usually just stop caring about the car after a year or two, he just straight up trades it for something else once he gets bored.

our ford dealer has some really nice 07's for around 26k for a base GT, and 28k for a loaded GT. im likely going to test drive one this week and see how it feels again compared to my GT, as last time i drove a 05+ it was before having any prior mustang experience, and it was basically basing it against my then GST, which is likely why i didnt like it.

however, according to him, theres 3 03/04 cobras in a nearby cities used car lot, the same lot i got the GT from. one Comp Orange vert, a MisticChrome and a black one. they wanted 30k for the Comp Orange vert, he didnt ask the prices for the other ones though. might take a ride today and check them out.
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Old 07-14-2007, 04:25 PM   #2
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Re: Leasing 07 GT?

Will you be able to leave something stock? That's the real question...

No point in putting money into something you're going to have to give back in a few years.
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Old 07-14-2007, 05:13 PM   #3
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Re: Leasing 07 GT?

Leasing is retarded. Its glorified renting.
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Old 07-14-2007, 05:40 PM   #4
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Re: Leasing 07 GT?

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Originally Posted by lowflyn View Post
Will you be able to leave something stock? That's the real question...

No point in putting money into something you're going to have to give back in a few years.
agree. however, aside from the body kit+paint (which i now regret) on my GT, it is stock.

if i did get one and leased it, i would only do easily removeable mods (catback, rims, boltons) or mods you wouldnt really remove if you were gonna sell your car anyways (gears being the main one here). especially since its under warranty the entire time, then id make sure if something happened, i can take off the bolt-ons in a day and get the car fixed.

that is, IF i ever decided to mod it. right now, i have the GSX for that type of modding.

the thing i like about the lease idea, is if i still like it, i can buy it after the lease contract is up. if i decide i dont want it anymore, thats the end of that and im out of it free and clear.

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Leasing is retarded. Its glorified renting.
yup. but for cars that depreciate alot or owners who get bored fast, it might be a better idea then a car youre stuck with until your loan payoff is equal to its market value to get out of it.


right now its still just throwing ideas around. i still need to drive one and find one i absolutely know i will be interested in having for however long the lease contract is for. i would love to get out from under the GT but i still want to make sure its not getting out of one car just to get under another one.
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Old 07-15-2007, 09:38 AM   #5
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Re: Leasing 07 GT?

Go for it.



















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Old 07-15-2007, 09:52 AM   #6
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Re: Leasing 07 GT?

I would save up and pay down the GT instead of dumping it off. You will just have to stop trading cars every XXX amount of time and losing money everytime... or buy POS's that are cheap to tool with.
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Old 07-15-2007, 11:31 AM   #7
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Re: Leasing 07 GT?

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I would save up and pay down the GT instead of dumping it off. You will just have to stop trading cars every XXX amount of time and losing money everytime... or buy POS's that are cheap to tool with.
Exactly
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Old 07-16-2007, 01:46 AM   #8
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Re: Leasing 07 GT?

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Originally Posted by SpectorV View Post
I would save up and pay down the GT instead of dumping it off. You will just have to stop trading cars every XXX amount of time and losing money everytime
i could do that too. however right now ford has 1500 cash back which could be used to offset the trade, plus whatever i put down (which i want to be around 3k). so take what i owe now (11.5), minus 4500 (cash down+cash back rebate) and im down to ~7k, which is pretty much the wholesale value of my trade-in (the GT). so right there i would pretty much break even.

or i could just wait a bit longer, keep slowly paying off the GT and saving money at a increased pace, and wait on it.

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or buy POS's that are cheap to tool with.
i like my POS, and thats the plan. one nice reliable DD thats not a decrepid pos like other peoples dd's are, one car to tool with without having to worry about making it run so i had a ride to work in the morning.
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