Quote:
Originally Posted by Pdemarco
I’m looking at an m240i without Xdrive in the current market. Shocker nothings changed. I had a creative idea to lease that I thought made a ton of sense but please if anyone could chime in, would be greatly helpful
I’m a recent college grad, making good money for my lifestyle (100k gross) and still living at home until rates come down. After a couple years of saving. I’m thinking about treating myself but wanted to do it the most efficient way possible.
What if I am able to roughly $15,000 down on a 2.5 yr lease. Payments would roughly be $500/month. After 2.5 years my intent would be to buy the vehicle outright after the lease is up and sell the car or if the dealer can buy it back early, even better. (Residual Values in low 30’s?)
My thought process here is that if I only have to spend $30,000 in 2.5 years. I’m almost sure, assuming good condition that I can see the car for more than that. Am I on the right track? Or is this a horrible idea?
Any advice would be much appreciated, thanks!
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There are 3 ways to make money: Man at work; men at work; money at work. You are a man at work. Put your money to work.
IOWs, you have two jobs. Your day job which pays you $100K gross which reads nice but after a few years $100K/year will have you behind the curve. So you need to look ahead regarding the job market.
Second job is managing your finances to get the most out of what you bring home.
I won't take the trouble to list what all you can do. That is your job to learn the various ways to save invest and grow your money.
I do suggest you save for next summer's vacation, a house down payment, more schooling (I had to change careers 3 times to ensure a better job with a higher salary), and of course cars, plus last but by no means least retirement. For the latter my recommendation is save/invest as is there will be *no* Social Security Benefit.