So I am expecting delivery any day now, waiting on the call. Yesterday I applied for the lease after the last 2 months dead set on financing the car. I applied for and was approved on a $65,000 72 mo. loan at 1.75%. My wife's Lexus has always been a lease and she likes getting a new car every 3 years. Myself, I have had 2 personal cars in the last 19 years. That's it! Obviously not leases. (Corvette was a part timer and does not count) I like to own my cars for many reasons.
1) I like to accessorize
and make it my own.
2) I always considered leases as not a great financial decision. (Arguable)
3) Paying a car off and not having a car loan is so nice.
So I had to re-apply due to the 30 day expiration. Spoke with the Alliant rep. who said "approved but with a 4.35% rate.
WTH! Now I'm not knocking Alliant. Apparently my credit score went down due to an $11.00 over the limit Visa card. Took care of that but the credit will not reflect it until next month. I am NOT taking a 4.35% loan. It is over $5000 more than the 1.75% over the term.
Approved for the lease which is a lower monthly payment, much lower because i am using the $15,000 for my trade in as a down payment. I know, many say put down as little as possible on a lease. But it's the trade in and I do not want to get into the re-sale of it. Too lazy
I now feel like a load has been taken off my shoulders and wonder why I did not lease to begin with. My kneejerk reaction to buying I guess. At this time my plan is to drive only a Tesla for the rest of my life and now I have the freedom to decide on a Model 3 or S in 3 years from now. With better AP and other improvements made in the next 3 years.
I am just venting I guess but yesterday I was stressed over this. I was planning on Xpel for another $3000 and now I will not do that. I still want to own and probably will do that 3 years from now with the ability to save monthly towards the next Tesla. I am planning on retiring in 3 years and that will be my retirement present to myself
I plan to use the savings also towards cleaning up my debt/income ratio which is a little high right now.
Now if only that delivery phone call would come
1) I like to accessorize
and make it my own. 2) I always considered leases as not a great financial decision. (Arguable)
3) Paying a car off and not having a car loan is so nice.
So I had to re-apply due to the 30 day expiration. Spoke with the Alliant rep. who said "approved but with a 4.35% rate.
WTH! Now I'm not knocking Alliant. Apparently my credit score went down due to an $11.00 over the limit Visa card. Took care of that but the credit will not reflect it until next month. I am NOT taking a 4.35% loan. It is over $5000 more than the 1.75% over the term.
Approved for the lease which is a lower monthly payment, much lower because i am using the $15,000 for my trade in as a down payment. I know, many say put down as little as possible on a lease. But it's the trade in and I do not want to get into the re-sale of it. Too lazy
I now feel like a load has been taken off my shoulders and wonder why I did not lease to begin with. My kneejerk reaction to buying I guess. At this time my plan is to drive only a Tesla for the rest of my life and now I have the freedom to decide on a Model 3 or S in 3 years from now. With better AP and other improvements made in the next 3 years.
I am just venting I guess but yesterday I was stressed over this. I was planning on Xpel for another $3000 and now I will not do that. I still want to own and probably will do that 3 years from now with the ability to save monthly towards the next Tesla. I am planning on retiring in 3 years and that will be my retirement present to myself
I plan to use the savings also towards cleaning up my debt/income ratio which is a little high right now.
Now if only that delivery phone call would come
