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Cars We Drive! - Page 1474

post #22096 of 26272
Quote:
Originally Posted by pravda View Post

My bf and I spoke this weekend. He Has 2008 A8 120KMILES AND debatining whether to pay $6,000 in repairs or trade/sell. Blue book is $12,000. I think this is a good case for leasing next time.

Thoughts

$6k for what? And who gave you the quote?

Assuming the quote was from a dealership, take it to an independent mechanic who specializes in German cars. Get the car fixed and sell it.

And good lord do those cars depreciate holy lmao
post #22097 of 26272
Yep. Dealer quote. I agree with you that an indy is best.
post #22098 of 26272
Quote:
Originally Posted by GreenFrog View Post


And good lord do those cars depreciate holy lmao

That tends to happen with 120k miles on a car.
post #22099 of 26272
Quote:
Originally Posted by Texasmade View Post

That tends to happen with 120k miles on a car.

Yeah, but I'd expect a car like that to fetch around $18k or so.
post #22100 of 26272
Quote:
Originally Posted by pravda View Post

I just think if maintenance is covered during the lease period, no expensive repairs during purchase. No?

Warranty will be in place but maintenance? Not every brand covers maintenance. Even those that cover maintenance do not cover tires and brakes, and on this level of a car, they can be pretty expensive.
post #22101 of 26272

For our buddy, @Find Finn
 

Netherlands looks to ban all non-electric cars by 2025
http://www.csmonitor.com/Environment/2016/0414/Netherlands-looks-to-ban-all-non-electric-cars-by-2025
 

post #22102 of 26272
That is nothing new, the Danish government has a goal of being free of fossil fuels by 2060. That they are actively working against their goal, is a different discussion.
Edited by Find Finn - 4/18/16 at 12:23am
post #22103 of 26272
Quote:
Originally Posted by Piobaire View Post

Warranty will be in place but maintenance? Not every brand covers maintenance. Even those that cover maintenance do not cover tires and brakes, and on this level of a car, they can be pretty expensive.

Bmw covers brakes

#bmwbj
post #22104 of 26272

How is having an 8 year old car that needs repairs an argument for a lease?  Also depending on what other bigger expenses he has had over the life of the car should be taken into consideration.  If he is only out $6K for things other than routine maintenance, I would think that has been a reliable car.

post #22105 of 26272
Quote:
Originally Posted by JohnGalt View Post

Bmw covers brakes

#bmwbj

Now I'm really looking forward to seeing that X7.
post #22106 of 26272
Quote:
Originally Posted by jbarwick View Post

How is having an 8 year old car that needs repairs an argument for a lease?  Also depending on what other bigger expenses he has had over the life of the car should be taken into consideration.  If he is only out $6K for things other than routine maintenance, I would think that has been a reliable car.

Dat sunk cost principle brah.
post #22107 of 26272
Quote:
Originally Posted by GreenFrog View Post


Dat sunk cost principle brah.

 

Her point was that leasing would have relieved her boyfriend of the $6K expense but then again what lease is 8 years unless we are leasing used cars which is possible.

post #22108 of 26272
Quote:
Originally Posted by jbarwick View Post

Her point was that leasing would have relieved her boyfriend of the $6K expense but then again what lease is 8 years unless we are leasing used cars which is possible.

I believe the poster is a he, but anyway: I don't think that was his point at all. Rather, it's that they don't want to incur any large repair bills by outright owning a car for the long term.

They basically want to go down the Piobaire route and lease cars for 2-3 year terms, rinse repeat.
post #22109 of 26272
Quote:
Originally Posted by GreenFrog View Post


I believe the poster is a he, but anyway: I don't think that was his point at all. Rather, it's that they don't want to incur any large repair bills by outright owning a car for the long term.

They basically want to go down the Piobaire route and lease cars for 2-3 year terms, rinse repeat.

 

Ah I didn't think of it that way.  Plus they can get out of that A8 which I find to be one of Audi's more boring cars.

post #22110 of 26272

This is an apples and oranges discussion.  I don't think maintenance or even repairs on an 8 year old car will necessarily make leasing a better deal.

Let's assume you buy the base A8L and you pay the MSRP of $81,000:

Lease
Assuming a residual of 50%, 7% sales tax, and MF of .00032 (3 year lease).  We'll assume all maintenance is covered, so your only costs are the lease.

The lease payment would be $1245/mo and would cost you $44,833 over three years ($14,944/yr).

Buy and hold 5 years
Assuming a 2% interest rate, and a 60 month term.  Also, we'll assume you drive 15k miles per year, and the condition is excellent when you trade in.

The payments would be $1519.13 for a total cost of $91,148 over five years.  Plus if we assume that you average $1k/year in maintenance/repairs, that would be $96,148.  The trade in value for a 2011 A8L with 75k miles is $25,500-$29,000, so let's assume you get $27,000.  Your total cost is then $69,148 ($13,829/yr).

 

Buy and hold for 8 years

Assuming a 2% interest rate, and a 60 month term.  Also, we'll assume you drive 15k miles per year, and the condition is excellent when you trade in.

 

The payments would be $1519.13 for a total cost of $91,148 over five years.  Plus if we assume that you average $2k/year in maintenance/repairs, that would be $107,148.  Finally, let's add the $6,000 for a major repair and assume it is the only one, you get $113,148.  The trade in value for a 2008 A8L with 120k miles is $9,800-12,600, so let's assume you get $11,000.  Your total cost is $102,148 ($12,768/yr).

 


Ultimately there is a lot of other factors such as personal preference and other options such as buying CPO, but if your primary motivation is to own an Audi A8 with as little cost as possible, leasing is not the way to go.  If you got a residual of 55%, you would be about the same cost/year between leasing and buying and owning for 5 years.

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