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jcartwright99

Ford Leasing for Z Plan Eligible

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Just now, Deanh said:

nope...on leases you are taxed on each payment...higher the payment, higher the taxes paid. That said...I may have just put a hole in my argument...as youre also taxed on cap reduction...DOH!...I could get into the convoluted practices of sales but don't want to open that can of worms....that just ends up getting toxic...as for interest in the bank...that's tiddly-winks...less buying power in 2022...jesus guys...don't become motivational speakers...LMAO...Cheers. 


But you pay the tax on the dollars you put down, its the same!

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5 minutes ago, jasonj80 said:


I'm confused wouldn't the taxes would be the same, maybe on a purchase but on a lease GAP is included for Red Carpet.  The argument is that you've earned a little interest on that money in the bank and then in 30 months you're paying $100 more in 2022 dollars not $100 more in 2019 dollars, in 2022 the dollar will have less buying power.

 

The biggest issue with people is that they get stuck in the price per month, not the total price.
 

I've literally had customers but elsewhere due to them being convinced they saved money...always makes me chuckle when you find out even though the sales price may have been a tad less, the payments were $30 more a month....irony.

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3 minutes ago, jasonj80 said:


But you pay the tax on the dollars you put down, its the same!

so...lets say that's true...why would you add the additional process of depositing in the  Bank, and transferring an additional amount to the Lease payment when it ( just for giggles its the same ) is a simpler process just to put the money upfront on the lease and only have ONE step instead of multiple....lifes too bloody complex...Im firmly in the KISS party!

Edited by Deanh

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17 minutes ago, Deanh said:

theres that fear of theft again, you and I couldn't have fallen from farther branches of the tree..

 

So if you're not worried about theft or being in an accident I guess you don't carry auto insurance or ever buy GAP insurance?   It's not likely but it is common and happens every day.

 

The point about putting the money in the bank is that you don't lose it in the unlikely event the vehicle is stolen or totaled.  Why take a chance on losing thousands (or tens of thousands) of dollars if you don't have to?

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6 minutes ago, Deanh said:

so...lets say that's true...why would you add the additional process of depositing in the  Bank, and transferring an additional amount to the Lease payment when it ( just for giggles its the same ) is a simpler process just to put the money upfront on the lease and only have ONE step instead of multiple....lifes too bloody complex...Im firmly in the KISS party!

 

So you don't LOSE TENS OF THOUSANDS OF DOLLARS!

 

Is this really that hard to understand?

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9 minutes ago, akirby said:

 

So you don't LOSE TENS OF THOUSANDS OF DOLLARS!

 

Is this really that hard to understand?

THATS APP ONLY!...……..youre stuck on APP...how many times do i have to state I understand that angle...THATS not what Im questioning....jesus akirby.

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12 minutes ago, akirby said:

 

So if you're not worried about theft or being in an accident I guess you don't carry auto insurance or ever buy GAP insurance?   It's not likely but it is common and happens every day.

 

The point about putting the money in the bank is that you don't lose it in the unlikely event the vehicle is stolen or totaled.  Why take a chance on losing thousands (or tens of thousands) of dollars if you don't have to?

you do NOT lose 10s of thousands of dollars if your regular leased vehicle is GASP ( NOTE NOT APP )...stolen...and yes I have insurance...its required...and GAP is included free  of charge on RCL's....Fords one of the few.

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8 minutes ago, Deanh said:

THATS APP ONLY!...……..youre stuck on APP...how many times do i have to state I understand that angle...THATS not what Im questioning....jesus akirby.

 

But it's not JUST APP.   It applies to any down payment on the lease.  Whatever you've paid whether it's a down payment or full prepaid or monthly payments - you lose.

 

Gap insurance only prevents you from having to pay out more money.  It doesn't give you back any extra money you might have paid up front.

 

If you don't care because you think the risk is low that's fine.  But everyone should understand the risk.

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18 hours ago, Deanh said:

what if you cant afford the payment on a regular lease unless you DO put something down?..which is exactly how 99.9%  of lease transactions work....

 

As we've pointed out repeatedly you can put the money in the bank and use it to lower your monthly payment every month - therefore the cost and monthly payment is the same but if something happens to the vehicle you don't lose the down payment.

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4 minutes ago, akirby said:

 

As we've pointed out repeatedly you can put the money in the bank and use it to lower your monthly payment every month - therefore the cost and monthly payment is the same but if something happens to the vehicle you don't lose the down payment.

and as I've pointed out its 6 of 1 and 1/2 dozen of another, just an extra rather un-necessary step...to each their own....Ill keep it simple for the customer...or I could bring out a convoluted Pie chart to confuse the crap out of them and literally have them go somewhere else...

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ok, just ran numbers on an Explore ST just for giggles....$1000 drives vs $5000 drives....so difference of $4000. Difference in payments , which includes taxes is $118. 118 x 36 = $4248. So, keeping that 4k in the bank and utilizing the process you claim "saves " money actually costs an additional $248 over 36 months, which equates to $6.80 a month. No big deal...but is spending the additional AND having to take an extra step to make a payment REALLY worth the aggravation?....to each their own I guess. ( and oh my god are STs expensive...even A plan. )

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42 minutes ago, Deanh said:

and as I've pointed out its 6 of 1 and 1/2 dozen of another, just an extra rather un-necessary step...to each their own....Ill keep it simple for the customer...or I could bring out a convoluted Pie chart to confuse the crap out of them and literally have them go somewhere else...

 

It's not the same and it's not complicated.

 

If something happens and the vehicle is totaled or stolen you will lose whatever you paid in lease payments including the down payment or the prepaid lease.    That's all they need to know.

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25 minutes ago, Deanh said:

ok, just ran numbers on an Explore ST just for giggles....$1000 drives vs $5000 drives....so difference of $4000. Difference in payments , which includes taxes is $118. 118 x 36 = $4248. So, keeping that 4k in the bank and utilizing the process you claim "saves " money actually costs an additional $248 over 36 months, which equates to $6.80 a month. No big deal...but is spending the additional AND having to take an extra step to make a payment REALLY worth the aggravation?....to each their own I guess. ( and oh my god are STs expensive...even A plan. )

 

If the Explorer is stolen you lose $1K vs $5K (plus lease payments up to that point).   THAT's the only point.

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Akirby, I think I see your point. Are you saying paying up front is a sunken cost? If accident/flood/stolen etc, Ford would get reimbursed, not the person leasing the car. Do I have that correct?  

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19 minutes ago, akirby said:

 

If the Explorer is stolen you lose $1K vs $5K (plus lease payments up to that point).   THAT's the only point.

That's better put....side bar you've also paid less in payments, so its kind of a scale, you'd lose more the shorter you were into the lease.......I understand where your coming from...but this fear of theft is overwhelming, you should move.... because other than that it makes no real sense...and sincerely...as Ive said...most people WANT lower payments so they utilize downpayment…...That said Im curious....how many people here have had a car stolen...I have, same car 3 times...but do I live in fear of it happening...absolutely not. 1988 Ford 5.0 Mustang Sedan, Saleen package....was a theft magnet at the time...

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11 minutes ago, jcartwright99 said:

Akirby, I think I see your point. Are you saying paying up front is a sunken cost? If accident/flood/stolen etc, Ford would get reimbursed, not the person leasing the car. Do I have that correct?  

correct...on a lease...totally different on a purchase, but give the rise in pricing as of late , leasing has overtaken outright purchases by a significant margin. Sooner or later there will be 10 year car loans....lol. 

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38 minutes ago, akirby said:

 

If the Explorer is stolen you lose $1K vs $5K (plus lease payments up to that point).   THAT's the only point.

for what its worth...we rarely see more than std drive offs on vehicles anyways....everyone is tapped in So Cal, barring the so called 1%.... 

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17 minutes ago, Deanh said:

That's better put....side bar you've also paid less in payments, so its kind of a scale, you'd lose more the shorter you were into the lease.......I understand where your coming from...but this fear of theft is overwhelming, you should move.... because other than that it makes no real sense...and sincerely...as Ive said...most people WANT lower payments so they utilize downpayment…...That said Im curious....how many people here have had a car stolen...I have, same car 3 times...but do I live in fear of it happening...absolutely not. 1988 Ford 5.0 Mustang Sedan, Saleen package....was a theft magnet at the time...

 

Dang!!!  Notch Saleen . . . NICE!!

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4 minutes ago, IMSA-XJR9 said:

 

Dang!!!  Notch Saleen . . . NICE!!

fun car....manual...whole bunch of engine mods...HOOT...

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33 minutes ago, jcartwright99 said:

Akirby, I think I see your point. Are you saying paying up front is a sunken cost? If accident/flood/stolen etc, Ford would get reimbursed, not the person leasing the car. Do I have that correct?  

 

Winner winner chicken dinner!   That's it exactly.

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25 minutes ago, Deanh said:

but this fear of theft is overwhelming, you should move.... because other than that it makes no real sense...

 

Not just theft but also totaling it, whether it's your fault or not.  Daughter totaled her 6 month old Focus.   It's the entire reason you get full coverage insurance - because it might be in an accident or it might be stolen.  

 

Would you buy a new car without insurance or advise your customers not to get full coverage on a brand new car?   It's EXACTLY the same thing.

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1 minute ago, akirby said:

 

Not just theft but also totaling it, whether it's your fault or not.  Daughter totaled her 6 month old Focus.   It's the entire reason you get full coverage insurance - because it might be in an accident or it might be stolen.  

 

Would you buy a new car without insurance or advise your customers not to get full coverage on a brand new car?   It's EXACTLY the same thing.

hope shes ok mate, that's scary. Here at least if one has a lein holder, one is required to obtain full coverage. And loan will NOT be funded unless theres proof....let alone DMV will suspend registration if a vehicle is not insured ( Insurance companies and DMV here at least, inter communicate ) Once a cars paid off, you can go third party...which I may do as premiums are through the bloody roof, for which the only excuse is they are adjusted to cover Insurance companies losses and keep their bottom line healthy.

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5 minutes ago, Deanh said:

hope shes ok mate, that's scary. Here at least if one has a lein holder, one is required to obtain full coverage. And loan will NOT be funded unless theres proof....let alone DMV will suspend registration if a vehicle is not insured ( Insurance companies and DMV here at least, inter communicate ) Once a cars paid off, you can go third party...which I may do as premiums are through the bloody roof, for which the only excuse is they are adjusted to cover Insurance companies losses and keep their bottom line healthy.

 

That was 8 years ago now - no injuries.   But the point is unless you're independently wealthy you always get full coverage on a new car in case of accidents or theft.   So I don't know why you think it's so far fetched.

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1 minute ago, akirby said:

 

That was 8 years ago now - no injuries.   But the point is unless you're independently wealthy you always get full coverage on a new car in case of accidents or theft.   So I don't know why you think it's so far fetched.

I don't recall ever saying Insurance is far fetched?....aside from that its required on a new car, full coverage if theres a lein, and at least 3rd party if its free and clear, which wouldn't make sense if the car was brand new. After 10 or so years when its depreciated to literally nothing then maybe. Obtaining GAP isn't necessary on a Ford lease, if that's what youre talking about...and on a purchase...if you put enough down its not necessary.  

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