I have a 05 gt -ivory white, chrome etc., which I purchased with a loan. I can get a ivory white 06, gtp on a lease for 24 months -monthly cost is about 100.00 more because the dealer will pay off the loan with the trade in etc. What do you people think--my wife thinks I am crazy--thx
I'd go for the '06. If you don't trade cars very often then don't go for a lease. I like trading cars and as soon as I get right side up, I'll start leasing again. I've bought my last 3 cars and am so upside down it's crazy!! Leasing is good for those of us that want a new car every few years, but it's not for those that buy cars to have for a long period. I have a car purchasing problem kinda like I do with shoes!! Good Luck!!
I'd lease it in a heartbeat. If you think financing a car is better than leasing, then you don't fully understand a lease. I'd be happy to try to explain it to anyone. I'll admit, it's not easy to understand, but I'm on my second one, and I love it. And it's not JUST for people who like to trade cars a lot. It's for people who don't like to risk their money.
Shoot me a pm.. seriously Im sure there is stuff I dont understand..even after the 20 explanations form various people. Hell half the people who have told me they understand don't seem to understand all of it.
Bad idea man, when you buy a car you should keep it for a while, you are going to take a huge depreciation hit. Wait until late December if you get the new one though. GM will hit the incentives hard to try and finish the year strong.
further info on trading to a 06 gtp-the dealer ust told me that around nov 14 gm is supposed to offer more incentive until the new year-i wil wait another 2 weeks to see if i should trade my 05 for the 06 -either lease or finance. it seems if i lease i won't lose as uch in negative equity
What do you mean you won't lose as much negative equity? Are they giving you more money for your current one if you lease? You will have less nagative equity on the next car, if you choose to lease it. I'm leasing my 06 GTP. The buyout in 36 months will be a little over $15,000. I highly doubt I'll find anyone willing to pay me that much for it.
PM me if you want some more details. I don't check all the threads very often.
Hey pal - I have purchased far more cars over the years using ONLY loans & have, like RP, become upside down at times. I have since "righted" myself & am one of you who is apparently "still" enjoying my new 2005 GT. Having read many of the postings regarding the steering issues (thankfully, I have not experienced this issue), I wonder what is so fantastic about the 06 other than a bit more hp under the hood (I'm sure I'll hear about that comment, huh?!)
Back to the topic at hand... IF you lease the 06, in 24 mos when the lease is up - WILL YOU have the remainder of the $ available to pay off the car OR are you planning on doing this number again in late 08? I'm not trying to pry - just help you to see where your wife may be going with how she's sizing up your situation.
It would be fabulous to be able to buy a new car every year - my grandparents used to do it all the time with Buicks. All it takes is $. I went online earlier this week & built an 06 just like my 05 GT & the cost was near the same within a couple of $. Have improvements been made???
Weigh your options carefully... Ask yourself, are you able to keep your head above water with whatever payments you are making now? Can you comfortably make an additional $100/mo payment without rocking the proverbial apple cart?
That's my two cents (hope I've helped).
Patrick [aka: The Oracle]
Actually the only reason Im envious of the GTP is I got my car for more $$ than the GTP costs right now. The extra HP just isn't all that much more... Anyone seen performance numbers yet? (i dont have time to look right now).. I would think handling, and the possibility that he gets the 6speed would be the only perks.