I'm debating what to do with my car situation. At times I think a $500 a month car payment along w/ 20mpg with premium gas isn't worth it with my LGT. It's a nice car but I end up spending at least $800-$850 a month to drive, it's automatic and although it's nice to look at and pretty quick I don't think it justify's the $ I spend.
I know I'll waste a lot of $ selling it now and those 18-20 payments ( I have less then 2 1/2 years left to pay it off) I made will go down the drain but I am considering leasing a nicer car for about the same ammount I pay now or buying a beater and saving up $ to buy a silly toy next spring. I have also always had problems selling cars and just trading them in so that's another reason I have considered leasing.
I'd prefer a luxury sports car as a lease car but my job is doing an insane lease deal on the Range Rover Sport for about $375 a month for 2 years. My gas bills would double though and I bet my insurance would go up to. If I bought a beater and saved up my $ I could probably buy a C5 Z06 or something else in that price range next spring. Suggestions?

My question to you is this, If you are paying out the ass for the vehicle your in now, why would you want to pay more and have a lease? I listen alot to a guy named Dave Ramsey, and he would tell you no! Buy the beater and get out of debt first. I don't know what your financial situation is, but dont go in more debt. Its that easy. Dave would say If you live like no one else, you will live like no one else. I would get a beater, save up, pay off a few debts (if you have any) and then live like no other!

Just my .02

Geez for as much as you're paying you could be driving an Evo. But I suppose if you want luxury it's definitely not the way you want to go. Switch down to a honda or something that will get you a $200/mo car payment and bank the rest, then reevaluate in a year or so. Is a vette really something you can drive every day? Winter? 2 seater? or would you plan on getting a real beater and having both cars?

I heard GM is offering 0% for 60mos on H2s right now, but that doesn't mean it's a good deal. Hell, they're practically worthless now.

If you really want to save up money and don't mind driving a beater, see about picking up an old Volvo. They're built like fucking tanks, safe as Fort Knox, and replacement parts are super cheap. They're also RWD, get low to mid-twenties per gallon, and are generally invisible to thieves and police radar.

When I bought mine, I talked the guy down to $1000 from $1200. A month later, while getting tips on a tune up from a local tbricker who had no fewer than five Volvos at his house, that I could have bought much MORE Volvo for much LESS money.

Then again, you might also see if you can't find a Geo Storm or Isuzu I-mark or whatever if you want cheap and economical, but keep in mind that gas prices lately have made the tin can econoboxes of the early 90s more valuable. When people are paying 4-figures for a used Geo Metro, you know it's rough.

Get a $600 Volvo. Drift it in parking lots when it snows. Haul all kinds of shit with it. Decide to boost it down the road and make a pimp Euro (or drop in an LS1). Register the car for a fraction of what you pay for the LGT. Save all kinds of money on insurance too.

Just make sure you're ready to handle the lifestyle. :P

EDIT: To give you an idea, I paid $1000 for my 86 245GL. Tags were $23 and I popped an extra $25 for a "Fallen Police Officers" tag which donates money to a fund to help families of officers killed in the line of duty (and generally keeps me from being pulled over, not that I can go very fast). Insurance is liability only, with double the state mins. With a $1400 claim on my record, I was paying $50/month.

Now, supposing you sold your LGT and duplicated my situation, how much money could you save in a year? You'd spend slightly less on gas, but that's about 10 months with no car payment... $5000.

Not too shabby. :)

Originally posted by cs82685
Geez for as much as you're paying you could be driving an Evo. But I suppose if you want luxury it's definitely not the way you want to go. Switch down to a honda or something that will get you a $200/mo car payment and bank the rest, then reevaluate in a year or so. Is a vette really something you can drive every day? Winter? 2 seater? or would you plan on getting a real beater and having both cars?

The Vette would be a 2nd car. Money isn't really the issue. It's what I'm driving for the $. My VR4 got similiar mileage that my LGT gets and it's not even close to being as much fun to drive. I don't really want an EVO only cause I feel to many people have them around here and most are spoiled 18 year old kids modded out the ass.
I have always liked cars you don't see often. That's why even my 2gnt was different then most, my VR4 was very rare and even the LGT isn't something you see often. A vette would be a more common car but I would either supercharge or TT it.
I looked on Edmunds for the incentives on leases and I think a cheap new car on a lease would be a good option. My top choice is a 2009 Corolla LE auto. That model has the only lease special for this month for $159 a month, 36 months and 12k miles a year w/ $2199 due at signing. This doesn't include tax, etc. I'll get $6-8k after selling and paying off my LGT and after paying the $ due at signing it's only $180-190 a month w/ tax rolled into it. My gas mileage will almost double and I'll use regular gas so I bet I could save $400-500 a month just on payment, gas and insurance. The car also has a great residual value if I decided to buy it off lease and keep or sell it. I'll probably get a quote this weekend. As for a 2nd car I could easily find something fun w/ the $400-500 a month I was saving.

Am I missing anything or does this all look right?

Originally posted by DR1665
I heard GM is offering 0% for 60mos on H2s right now, but that doesn't mean it's a good deal. Hell, they're practically worthless now. If you really want to save up money and don't mind driving a beater, see about picking up an old Volvo.

GM does have that deal but those cars aren't worth crap used. The CTS has the same deal. I thought about a complete beater but I'm not driving a complete pile. A beater for me would still cost a couple grand and for the $ I'd have to put into it, plus I'd have to pay cash for it I think leasing a cheaper car would make sense. In 36 months w/ a Corolla I'll change the oil and maybe buy brake pads plus the new Corolla looks pretty good.