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Exactly, I don't think I've ever even known anyone who had a car repo'd. I'm sure there out there. Many people who finance can pay cash but make a higher % on there investments, I can't do this again, please don't pull me back in.
Best way to purchase a vehicle, is to drive off the lot with a 5K check from the dealer and no payments.
When I was living in UT, I purchased my H3 after lease in 2010. In 2012, I purchased a 2013 Loaded Silverado LTZ for cash, and kept the H3 (for offroading).
A few years later, moved to ID. Took both vehicles to the local chevy dealer for appraisals, and ended up trading in the 2013 Silverado and the 2008 H3 for a 2015 loaded Silverado LTZ and drove off the lot with a 5K check. And no taxes, since ID only taxes difference between trade in and purchase, and if trade in is more, you pay NO sales tax.
So let me get this straight; you racked up ~$100k in bills over the course of 7 years, end up with only 1 vehicle and yet feel satisified with a $5k check? I wouldn't be boasting about this.
Good for you. Go blow your lump sum of cash on a depreciating appliance. I'll stick to very low or 0% apr while my cash makes me more cash in the process!
When leasing a new car you must remember that even if you have $0 down payment, you still have to come up with a certain amount of upfront money thanks to things like the acquisition fee, delivery, tax, title and still more depending on how your bank or the leasing arm of an automaker operates.
Sometimes a car acquisition fee is also referred to as a “bank fee” or an “administrative fee” but all of those terms mean the same thing. You are being charged essentially for the work your lender has to put into setting up your lease agreement. Dealerships usually do not make any money off of this fee so a car acquisition fee is usually a non-negotiable part of the price that you will be paying when you sign the lease.
Yep, a car acquisition fee may seem as inevitable as death and taxes but there are ways to not get taken to the cleaners with this charge. Different automakers and lenders charge different rates and sometimes if you find a suspiciously high rate that could your dealer may be getting a kickback of that cost from the lender in exchange for more business. So always be sure to figure out who you are getting your money from first, even when you are leasing.
On average, car acquisition fees range anywhere from $395 to $995 but can be higher than that in states like New York, which has its own unique car leasing laws and regulations. The car acquisition fee can be hidden in the leasing contract as part of the gross capitalized cost which includes the entire amount of money you owe during the term of the lease and remember that there are interest charges associated with that amount even in a lease.
A smarter course of action, if you can afford it, is to ask your lender or dealer to separate the car acquisition fee from the lease agreement entirely and pay for it upfront vehicle so you can avoid paying even more in leasing costs over the course of the contract. A car acquisition fee is just a fact of life when it comes to leasing but if you play your cards right you can make sure that car acquisition fees don’t get the best of your money.
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Or had a car repo'd? 
