Re: Get a real finance guy to explain the time val (archive)

Thanx Kempe! Do you get penalized for selling your leased vehicle? If I do this Payment Shaver thing, I can sell my car any time I want to, and will not be penalized. As well, I am self-employed, and was told I would be able to write off payments on my non-lease vehicle - is that true?

I have considered leasing several times, but it just does not seem right for me. I like to make several changes to my vehicles, and don't wanna have to deal with the pressures of "meeting lease requirements" (whatever they are). Also, if I do the Payment Shaver thingy, as opposed to a Lease, the payments will be about the same, and I will have more flexibility than I would with a lease (not to mention, more of my payments would go towards the principal amount instead of interest...I was told by my loan officer).

I really do not want to put down too much money - it just does not seem to make sense to me. I feel as though I could be drawing interest on that money, rather than collecting it later when I sell the car. On the other hand, interest will accrue on the additional amount I finance - I will have to draw some graphs to find out which amount is higher. It seems very complicated when I look at it from all angles involved, but I kinda think it will be more wise if I put @ $3000 or so down, do a Payment Shaver thingy, then sell the car a few years later. Plus, with the Payment Shaver Plan, I have the ability to switch to a traditional loan without being penalized - so I guess it will not hurt to try.

Any other info. is greatly appreciated!

Thanx,

Follow Ups:

Honestly, if you are self employed, it makes no Kempe 00:44 3/05/2001 (0)

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