I am so confused and for some of you here you might be thinking... "He has been for over a month now". But I still need more advice from you guys. So if you can help me out.
In order to get the most accurate answer I think I should give out my financial situation.
I am making around $1000 Net pay per month
I have a car that is valued @ $2800 CDN
I have $5300 in my cheq acct. right now
I have $5200 in some short term investment that ends soon.
I will be starting University in September.
Now... I never even though of purchasing a car at my age (21), cuz that would mean alot of sacrifices. But everyone seems to hate the idea of 'leasing' a car.
The salesman offered me a 36month lease with my car as a trade-in for a $288 payment for a Sport GT with A/C.
If I where to purchase that car with a $2800(440tax credit) trade-in that same car would cost me $457 for 60months.
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Now for the experts out there I ask if you could help me calculate how much my payments would be if I put an extra $8000 downpayment right away. The reason I am asking is bcuz the site doesn't allow you to check with such a high DP.
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My other question would be: In your opinion considering my situation what would you do?
I want to enjoy life and go on trips and not have to spend my life savings into one single investment (that loses its value quickly). Unless it is the best financial decision to take.
---
Please help.
---
I think this will be my final thread involving my decision to purchase or lease my future MZ3. Therefore I would appreciate anyone and everyone's opinion on this.
---
Thank you!
Your friend "The SyChO"
In order to get the most accurate answer I think I should give out my financial situation.
I am making around $1000 Net pay per month
I have a car that is valued @ $2800 CDN
I have $5300 in my cheq acct. right now
I have $5200 in some short term investment that ends soon.
I will be starting University in September.
Now... I never even though of purchasing a car at my age (21), cuz that would mean alot of sacrifices. But everyone seems to hate the idea of 'leasing' a car.
The salesman offered me a 36month lease with my car as a trade-in for a $288 payment for a Sport GT with A/C.
If I where to purchase that car with a $2800(440tax credit) trade-in that same car would cost me $457 for 60months.
---
Now for the experts out there I ask if you could help me calculate how much my payments would be if I put an extra $8000 downpayment right away. The reason I am asking is bcuz the site doesn't allow you to check with such a high DP.
---
My other question would be: In your opinion considering my situation what would you do?
I want to enjoy life and go on trips and not have to spend my life savings into one single investment (that loses its value quickly). Unless it is the best financial decision to take.
---
Please help.
---
I think this will be my final thread involving my decision to purchase or lease my future MZ3. Therefore I would appreciate anyone and everyone's opinion on this.
---
Thank you!
Your friend "The SyChO"