Better Location for Resale in Irvine

[Mety]

Old people are more likely to crush a farmers market with their cadillac seville then shoot you.  unless you are burgling their house.  Then they'll cap u.

nobody in their right minds would  break into a senior citizen's home. The smell is so horrid and rancid I would gag before I set foot on their porch. You know the smell I'm talking about. It's that old people smell, the smell of decay and death of their internals spewing out into the atmosphere. (#oldpeoplesmell)

But the smell is not toxic environmental hazard. #welcomebackyellowfever

 

[Burn That Belly]

x

 

[eyephone]

We have a lease right now on my wife's car. It made sense because the MF was 1.54% compared to a 4 year loan of 3.9%. It was a no brainer to lease first then buy out after 3 years. $0 dollar drive off too. Leases get a terrible name because people don't know what they're getting themselves into and don't know how to negotiate and navigate the numbers.

When you do the math, 3 year lease + 3 year refinance (used car loan), it can come out cheaper than doing a straight 5 year loan with the dealer.

However, my first BMW back in the Great Recession, they gave me 0.9% financing for 5 years. That was better than the lease so I took that. Had the car for 142K miles and 8 years 5months. Sold it on craigslist for 27.2% of the original cap cost. True story.

Did you get the best deal? Did you do like PS9 and get multiple quotes and the best deal? (I want to say like an auto broker or something)

 

[Burn That Belly]

x

 

[Mety]

We have a lease right now on my wife's car. It made sense because the MF was 1.54% compared to a 4 year loan of 3.9%. It was a no brainer to lease first then buy out after 3 years. $0 dollar drive off too. Leases get a terrible name because people don't know what they're getting themselves into and don't know how to negotiate and navigate the numbers.

When you do the math, 3 year lease + 3 year refinance (used car loan), it can come out cheaper than doing a straight 5 year loan with the dealer.

However, my first BMW back in the Great Recession, they gave me 0.9% financing for 5 years. That was better than the lease so I took that. Had the car for 142K miles and 8 years 5months. Sold it on craigslist for 27.2% of the original cap cost. True story.

Did you get the best deal? Did you do like PS9 and get multiple quotes and the best deal? (I want to say like an auto broker or something)

We got 11% off MSRP which is damn good for a 2018 model but we had to go way far up into LA. The OC dealerships do not discount much, only 5%, most likely due to high overhead cost and higher cost of living. The car had 3 miles on it with the factory white plastic coverings still on the car. We knew that nobody test drove the car. I should've asked them to leave it on there for the long drive home.

Why not FCB cars too?

 

[Burn That Belly]

x

 

[Mety]

We have a lease right now on my wife's car. It made sense because the MF was 1.54% compared to a 4 year loan of 3.9%. It was a no brainer to lease first then buy out after 3 years. $0 dollar drive off too. Leases get a terrible name because people don't know what they're getting themselves into and don't know how to negotiate and navigate the numbers.

When you do the math, 3 year lease + 3 year refinance (used car loan), it can come out cheaper than doing a straight 5 year loan with the dealer.

However, my first BMW back in the Great Recession, they gave me 0.9% financing for 5 years. That was better than the lease so I took that. Had the car for 142K miles and 8 years 5months. Sold it on craigslist for 27.2% of the original cap cost. True story.

Did you get the best deal? Did you do like PS9 and get multiple quotes and the best deal? (I want to say like an auto broker or something)

We got 11% off MSRP which is damn good for a 2018 model but we had to go way far up into LA. The OC dealerships do not discount much, only 5%, most likely due to high overhead cost and higher cost of living. The car had 3 miles on it with the factory white plastic coverings still on the car. We knew that nobody test drove the car. I should've asked them to leave it on there for the long drive home.

Why not FCB cars too?

Why not FCB cars?  I don't follow your question. Speak english.

How come people don't buy cars with cash? No interests to pay, no monthly payment to worry about. I almost did that, but I just ended up leasing another one.

 

[Burn That Belly]

x

 

[Mety]

We have a lease right now on my wife's car. It made sense because the MF was 1.54% compared to a 4 year loan of 3.9%. It was a no brainer to lease first then buy out after 3 years. $0 dollar drive off too. Leases get a terrible name because people don't know what they're getting themselves into and don't know how to negotiate and navigate the numbers.

When you do the math, 3 year lease + 3 year refinance (used car loan), it can come out cheaper than doing a straight 5 year loan with the dealer.

However, my first BMW back in the Great Recession, they gave me 0.9% financing for 5 years. That was better than the lease so I took that. Had the car for 142K miles and 8 years 5months. Sold it on craigslist for 27.2% of the original cap cost. True story.

Did you get the best deal? Did you do like PS9 and get multiple quotes and the best deal? (I want to say like an auto broker or something)

We got 11% off MSRP which is damn good for a 2018 model but we had to go way far up into LA. The OC dealerships do not discount much, only 5%, most likely due to high overhead cost and higher cost of living. The car had 3 miles on it with the factory white plastic coverings still on the car. We knew that nobody test drove the car. I should've asked them to leave it on there for the long drive home.

Why not FCB cars too?

Why not FCB cars?  I don't follow your question. Speak english.

How come people don't buy cars with cash? No interests to pay, no monthly payment to worry about. I almost did that, but I just ended up leasing another one.

Long story short. You don't want to pay in full because you want to transfer the risk and possible loss to the bank/insurer. Keep your money in the bank. Put the rest of the money in an investment engine. The earnings will always beat the finance or rent charge especially after 5 years.

However, the rich don't care. When I say rich, I'm talking $20M+ net worth.

I could finance a $19.99 T-Shirt at Macys with my Macy's credit card at 7.99% interest rate. However, I'm "rich" enough to the point where I don't like the hassle of making monthly payments for a $19.99 T-shirt spread across 12 months.  The time value of money is more than $19.99. Therefore, I would pay it off. However, there are folks out there who may be less fortunate, and will make minimum payments on their Macy's card.

Good advice. I always want a new car after 3 years anyways. #beenleasingfor10years

 

[the.irvine]

We have a lease right now on my wife's car. It made sense because the MF was 1.54% compared to a 4 year loan of 3.9%. It was a no brainer to lease first then buy out after 3 years. $0 dollar drive off too. Leases get a terrible name because people don't know what they're getting themselves into and don't know how to negotiate and navigate the numbers.

When you do the math, 3 year lease + 3 year refinance (used car loan), it can come out cheaper than doing a straight 5 year loan with the dealer.

However, my first BMW back in the Great Recession, they gave me 0.9% financing for 5 years. That was better than the lease so I took that. Had the car for 142K miles and 8 years 5months. Sold it on craigslist for 27.2% of the original cap cost. True story.

Did you get the best deal? Did you do like PS9 and get multiple quotes and the best deal? (I want to say like an auto broker or something)

We got 11% off MSRP which is damn good for a 2018 model but we had to go way far up into LA. The OC dealerships do not discount much, only 5%, most likely due to high overhead cost and higher cost of living. The car had 3 miles on it with the factory white plastic coverings still on the car. We knew that nobody test drove the car. I should've asked them to leave it on there for the long drive home.

Why not FCB cars too?

Why not FCB cars?  I don't follow your question. Speak english.

How come people don't buy cars with cash? No interests to pay, no monthly payment to worry about. I almost did that, but I just ended up leasing another one.

Long story short. You don't want to pay in full because you want to transfer the risk and possible loss to the bank/insurer. Keep your money in the bank. Put the rest of the money in an investment engine. The earnings will always beat the finance or rent charge especially after 5 years.

However, the rich don't care. When I say rich, I'm talking $20M+ net worth.

I could finance a $19.99 T-Shirt at Macys with my Macy's credit card at 7.99% interest rate. However, I'm "rich" enough to the point where I don't like the hassle of making monthly payments for a $19.99 T-shirt spread across 12 months.  The time value of money is more than $19.99. Therefore, I would pay it off. However, there are folks out there who may be less fortunate, and will make minimum payments on their Macy's card.

Good advice. I always want a new car after 3 years anyways. #beenleasingfor10years

How about CPO?

 

[keilbros]

If you have to buy a resale SFH, which areas from the following would be the best in terms of holding their value, easier to sell in future, appreciation etc? Assuming you like the floor plans in all.

1. Cypress Village
2. StoneGate
3. East wood Village
4. Pavilion Park

I have removed Portola and OH from this list for some known reason.

I would rather purchase West of the 405, but still in Irvine...

Laguna Altura
Hidden Canyon
Quail Hill
Shady Canyon

QH is a little older, built in 2003
LA built around 2007
SC built around 2007
HC built around 2015

HC a bit too expensive, as is Shady...so I prefer LA over QH. LA has a guard gated entry, QH is open to the public.

The weather west of the 405 is cooler than Portola Springs, CV, etc..plus easier access to the 405 and Irvine Spectrum. The 133 also makes it very convenient to get on the 5 and to Newport Coast/Beach and Laguna Beach.

 

[Burn That Belly]

x

 

[fortune11]

If you have to buy a resale SFH, which areas from the following would be the best in terms of holding their value, easier to sell in future, appreciation etc? Assuming you like the floor plans in all.

1. Cypress Village
2. StoneGate
3. East wood Village
4. Pavilion Park

I have removed Portola and OH from this list for some known reason.

I would rather purchase West of the 405, but still in Irvine...

Laguna Altura
Hidden Canyon
Quail Hill
Shady Canyon

QH is a little older, built in 2003
LA built around 2007
SC built around 2007
HC built around 2015

HC a bit too expensive, as is Shady...so I prefer LA over QH. LA has a guard gated entry, QH is open to the public.

The weather west of the 405 is cooler than Portola Springs, CV, etc..plus easier access to the 405 and Irvine Spectrum. The 133 also makes it very convenient to get on the 5 and to Newport Coast/Beach and Laguna Beach.

I would rather purchase in Newport Coast. Away from all the Irvine ?riff raffs?. Panoramic views of the oceanline. A strong Republican Anglo-American gun-toting demographic. ?Murica!

Totally agree .  As an added Plus , you may also find yourself in the company of closeted neo Nazi teens w clueless parents . Double bonanza !

 

[irvineresidential]

You should make sure the house you buy can be easier to sell afterwards when the time comes. The top two zones which are encompassed by beautiful parks are Pavilion Park and Cypress Village. Home for sale is the most common signboard you might see in front of many houses after the tax reform.

 

[irvinehomeowner]

We have a lease right now on my wife's car. It made sense because the MF was 1.54% compared to a 4 year loan of 3.9%. It was a no brainer to lease first then buy out after 3 years. $0 dollar drive off too. Leases get a terrible name because people don't know what they're getting themselves into and don't know how to negotiate and navigate the numbers.

When you do the math, 3 year lease + 3 year refinance (used car loan), it can come out cheaper than doing a straight 5 year loan with the dealer.

Yep. Sometimes leasing makes more sense... and is not a money loser.

We will buy a car if that makes more sense with like 0% financing (we've done that a few times), but most times we will lease.

 

[Liar Loan]

We have a lease right now on my wife's car. It made sense because the MF was 1.54% compared to a 4 year loan of 3.9%. It was a no brainer to lease first then buy out after 3 years. $0 dollar drive off too. Leases get a terrible name because people don't know what they're getting themselves into and don't know how to negotiate and navigate the numbers.

When you do the math, 3 year lease + 3 year refinance (used car loan), it can come out cheaper than doing a straight 5 year loan with the dealer.

Yep. Sometimes leasing makes more sense... and is not a money loser.

We will buy a car if that makes more sense with like 0% financing (we've done that a few times), but most times we will lease.

What does it mean when you say "MF was 1.54%"?  I've never leased so maybe I'm not up on the terminology.

 

[irvinehomeowner]

MF is Money Factor. It's equivalent to an interest rate when financing. You can multiply it by 2400 to see the equivalency... I think BTB's MF is .00154 so that's about a 3.7% interest rate.

And they only charge that "interest" on the difference between the cap cost and the residual.

When BTB uses "MF" it's usually something else.

 

[Liar Loan]

MF is Money Factor. It's equivalent to an interest rate when financing. You can multiply it by 2400 to see the equivalency... I think BTB's MF is .00154 so that's about a 3.7% interest rate.

And they only charge that "interest" on the difference between the cap cost and the residual.

When BTB uses "MF" it's usually something else.

Do they not offer low APR loans on these street racers?  My credit union is offering 1.95% up to $50,000.

Of course, what I'm really shocked by is that Irvine ballers with their $800k condos would need to finance such a minor expense. 

 

[irvinehomeowner]

MF is Money Factor. It's equivalent to an interest rate when financing. You can multiply it by 2400 to see the equivalency... I think BTB's MF is .00154 so that's about a 3.7% interest rate.

And they only charge that "interest" on the difference between the cap cost and the residual.

When BTB uses "MF" it's usually something else.

Do they not offer low APR loans on these street racers?  My credit union is offering 1.95% up to $50,000.

Of course, what I'm really shocked by is that Irvine ballers with their $800k condos would need to finance such a minor expense. 

Re-reading his post, I think he already did the MF->Interest conversion so his interest rate was 1.54% which is a money factor of .00064167, and beats your 1.95%.

 

[Liar Loan]

MF is Money Factor. It's equivalent to an interest rate when financing. You can multiply it by 2400 to see the equivalency... I think BTB's MF is .00154 so that's about a 3.7% interest rate.

And they only charge that "interest" on the difference between the cap cost and the residual.

When BTB uses "MF" it's usually something else.

Do they not offer low APR loans on these street racers?  My credit union is offering 1.95% up to $50,000.

Of course, what I'm really shocked by is that Irvine ballers with their $800k condos would need to finance such a minor expense. 

Re-reading his post, I think he already did the MF->Interest conversion so his interest rate was 1.54% which is a money factor of .00064167, and beats your 1.95%.

Possibly.  There are other moving parts with the lease.  He might be paying more for the car when he purchases (after the lease is up), then he would have if he just bought the same 3 year old model on Auto Trader.  I haven't studied these deals in detail, but that's just my suspicion.