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Are you leasing or financing?

How did you pay for your GTI?

  • Leased

    Votes: 23 37.7%
  • Financed

    Votes: 31 50.8%
  • Paid Cash

    Votes: 7 11.5%

  • Total voters
    61

MrClean

Go Kart Champion
I've done several buys and leases over the years, and what I've determined is that lease or buy, I end up about the same place, after three years.

This time around I did the "sign then drive" lease with its low money factor that equated to a lower interest rate than the financing rate. Plus, it was nice to keep money in the bank account during these more uncertain times.
 

foobert

Passed Driver's Ed
I had over $10K positive equity on my trade, was thinking about leasing, then saw the 1.9% offer and knew I couldn't pass it up. Financed about $19K all in (4dr, 6sp, Autobahn, sunroof, Dynaudio, xenons, 18" Topas, wheel protection plan, tax, tag, fees), totalled $350-something/mo. x 60 mo. Total loan interest = $970. Couldn't pass that deal up.
 

MrClean

Go Kart Champion
I had over $10K positive equity on my trade, was thinking about leasing, then saw the 1.9% offer and knew I couldn't pass it up. Financed about $19K all in (4dr, 6sp, Autobahn, sunroof, Dynaudio, xenons, 18" Topas, wheel protection plan, tax, tag, fees), totalled $350-something/mo. x 60 mo. Total loan interest = $970. Couldn't pass that deal up.

That is a good deal for you. The interest rate at the time for me was 3.9% as I recall.
 

roadking26

Passed Driver's Ed
Leased. I struggled with the choice. Leasing seems to suit me given that I often want to switch cars every 3 years or so. Obviously, leasing does limit a person regarding mods. However, I don't really think about it that way. Most of the mods I would (will) do, can be removed and the car made "stock" again IF I decide to turn it in at the end of the lease. Again, though, I don't really think about it that way. I leased it (15k miles per year, 36 months) so that the monthly cost is -- for me -- insignificant compared to financing it (down payment + at least another $100 per month for me). I'm not loaded, but I do have the means to pay cash for the car at the end of the lease, and frankly, that is what I intend to do unless it turns out to be a piece -- if it is a piece, I won't hesitate to turn it in. At that time, I'll know if I want to buy it outright and continue with more comprehensive upgrades. Until then, I'll content myself with a chip (APR stage I), a conservative intake upgrade, and some nice wheels/summer tires. Yep, you read that right -- I'm going to chip my leased car. Unsound logic as it might be, the plan would be IF I turn it in, to set it to "stock" and let it go. In the meantime, I want the extra power that a conservative tune will provide.
 

foobert

Passed Driver's Ed
That is a good deal for you. The interest rate at the time for me was 3.9% as I recall.

I really couldn't say no. I keep cars 4 years on average, and will hopefully carry a few $ positive equity out of the GTI as well. Really I just got lucky w/the past couple cars I had - both Subarus - so I was able to push some trade equity into each of the last 3 purchases I've made. This time through, the 1.9% combined w/the fact the dealer had just the combo I wanted sealed the deal for me.

If I ever pull the trigger on a $45K+ vehicle, though, that'll be a lease, unless I happen to win the lotto between now and then :)
 
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