View Poll Results: Cash or finance?
Cash
35
63.64%
Auto loan
17
30.91%
Lease
5
9.09%
Multiple Choice Poll. Voters: 55. You may not vote on this poll
Do you pay cash for your Lexus cars or finance them?
#1
Pole Position
Thread Starter
Do you pay cash for your Lexus cars or finance them?
Just wondering what the demographic is out here. Thanks!
#3
Lexus Test Driver
Leased, then bought out the lease. 11 year old IS is costing me nothing to own now and is 100% solid. Love it.
#4
Lexus Test Driver
for my non lexus cars i paid cash, but the lexus was inherited lol
#6
Lead Lap
Just started leasing 5 years ago for my daily drivers and never going back to owning. I love having a new car every three years. By the end of year two I am ready for a change but 2 year leases cost way to much on a monthly basis. For my weekend/toy cars I always buy and finance at a low rate even though I have the cash to buy it outright.
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#10
if the APR is super low, i finance, even if i can pay it off outright.
because i can use that money to make a bigger return elsewhere when it stays in my pocket.
even if you don't do any investing, getting 1.9% APR loan and keeping your own cash in a 2.2% savings account or a 3% CD is like free money.
Also, car payments boost your credit score.
because i can use that money to make a bigger return elsewhere when it stays in my pocket.
even if you don't do any investing, getting 1.9% APR loan and keeping your own cash in a 2.2% savings account or a 3% CD is like free money.
Also, car payments boost your credit score.
Last edited by pman6; 05-04-19 at 02:10 PM.
#11
Lexus Test Driver
Cash, never had a car payment.
Last edited by Bgw70; 05-04-19 at 01:32 PM.
#12
Forum Administrator
iTrader: (2)
Always cash for me
#14
Lead Lap
Cash buyer here...
Full coverage insurance costs almost double the rate in my neck of the woods when you finance/lease. Typical liability coverage ranges from $700 - $1200/yr. Full coverage needed for lease or financed cars are usually from $1400 - $3000/yr depending on the type of coverage/provider. I've gotten quotes from all the following: Geico, State Farm, All State, eSurance..
These numbers consider a clean driving record. If I were to finance a car for 5 years, i expect to pay an extra $4,000 - $5000 over that term for insurance coverage which always turns me away from financing.
Full coverage insurance costs almost double the rate in my neck of the woods when you finance/lease. Typical liability coverage ranges from $700 - $1200/yr. Full coverage needed for lease or financed cars are usually from $1400 - $3000/yr depending on the type of coverage/provider. I've gotten quotes from all the following: Geico, State Farm, All State, eSurance..
These numbers consider a clean driving record. If I were to finance a car for 5 years, i expect to pay an extra $4,000 - $5000 over that term for insurance coverage which always turns me away from financing.