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i wanna buy a 2002 SE,,, (kinda long)

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Old 01-22-2002, 06:02 PM
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i wanna buy a 2002 SE,,, (kinda long)

Well I've been here 8 months, well, a member for 8 months, unofficially I've been here for well over a year, and it led me to select the maxima (2000 SE 5-speed loaded) for my moms new car, blah blah and i guess now im going to start posting regularly, (2nd in 2 days)

anyway, i'm a little tired of boasting about the maxima and then having to say, "it's my moms"… never really gets a good reaction out of people. kids don’t like to give credit to me when i win races because its not actually my car, blah blah blah.

so i've been searching for some good prices on a 2002 SE a lot lately, and found that at Rt. 22 Nissan in Hillside, NJ is offering a basic SE (automatic, but im sure i can get a 6-speed, hope to anyway) as a lease option for $2000 down and $180 a month for 2 years,, so i figure i do that, and during the lease i save up my money and prepare to buy the car at the end of it.

does that sound good to anyone? i plan on modding this one, being at this site for so long and not wanting to mod... that just doesnt work. Can’t mod my moms car (she wont let me, i've tried), so its another reason why i want my own.

eventually i'll get leather seats from leatherseats.com or whatever that url is that is all over here,, i also plan on getting some rims to go along nicely with the superblack exterior, lower it, and maybe a few more aesthetics,, power wise, i'd probably leave it stock.. maybe except for a K&N drop in filter or something. (cant afford too much)

can i even lease a car? i'm 17, turn 18 in june. if not i'll have my mom have it in her name.. but under the lease terms would i be allowed to drive it, legally that is? or is there some sort of condition where only she would be able to drive it?
does this sound like a bad idea or good idea to anyone?

so basically, what am i saying? i want my own maxima and i want to mod it, i've been reading and seeing your rides for too long

well thanks in advance again, i know to expect some nice responses… but please don’t say “stick with your moms car, your lucky to drive a max and not pay” or something,, I need my own car for college soon enough anyway, and my mother started a new job meaning less maxi time for me.

Sorry for the length, haven’t learned to summarize yet
-brett
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Old 01-22-2002, 06:06 PM
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Get yourself a used Mustang Cobra! That is unless you have to pay for the repairs!
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Old 01-22-2002, 07:29 PM
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well if that fails theres always a VE 5 spd or a 99 SE-L or a 2001 Anniversary (my 3 fav max's )
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Old 01-22-2002, 07:32 PM
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you have to be 21 to lease and htat's too good to be true.
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Old 01-22-2002, 07:57 PM
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Make sure you understand the math of leasing...

Ordinarily I do not recommend a lease situation unless the signer can write it off on taxes or their personal preference is to be in a "new" car under warranty.

That said, over the course of the 2yrs you're spending over $6K, then you're going to buy a car that will have somewhere in the neighborhood of 70% residual (if your lucky... ask 1999-2001 owners). Unless the mileage limit is incredibly low, this looks like an attractively financed deal. Still, that's off the top of my head. I _HIGHLY_ recommend doing research on how leases work and try to reverse calculate the APR and compare the expense to buying new.
I didn't dig up a spreadsheet to do the math, but it sounds a bit _too_ good.

Almost for sure it will have to be in your mother's name due to your age and (lack of) credit history, and as far as driving it is concerned, that should be an insurance matter. The finance company only cares about getting their money. Good luck in convincing her to sign for it.

If it were me, I wouldn't get into a new car as they depreciate so rapidly, and the insurance is a bear, and who knows what can happen to it on campus. IMHO, there are plenty of fast used cars to hold you over until you can mod a 2k2 6-speed.
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Old 01-22-2002, 08:08 PM
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Re: Make sure you understand the math of leasing...

Originally posted by philpoe
Ordinarily I do not recommend a lease situation unless the signer can write it off on taxes or their personal preference is to be in a "new" car under warranty.

That said, over the course of the 2yrs you're spending over $6K, then you're going to buy a car that will have somewhere in the neighborhood of 70% residual (if your lucky... ask 1999-2001 owners). Unless the mileage limit is incredibly low, this looks like an attractively financed deal. Still, that's off the top of my head. I _HIGHLY_ recommend doing research on how leases work and try to reverse calculate the APR and compare the expense to buying new.
I didn't dig up a spreadsheet to do the math, but it sounds a bit _too_ good.

Almost for sure it will have to be in your mother's name due to your age and (lack of) credit history, and as far as driving it is concerned, that should be an insurance matter. The finance company only cares about getting their money. Good luck in convincing her to sign for it.

If it were me, I wouldn't get into a new car as they depreciate so rapidly, and the insurance is a bear, and who knows what can happen to it on campus. IMHO, there are plenty of fast used cars to hold you over until you can mod a 2k2 6-speed.
even if his mom signs it he might still not be able to drive it. my friend's parents have a leased car and she has to sign a form stating she WOULDN:T drive it till she was 21.
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Old 01-22-2002, 08:22 PM
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That price would even be ridiculously low on a 5 year lease, nevermind a 39 month lease which is generally the most popular Nissan lease program. As for a two year lease, its nearly impossible to even get any new car dealer to go for such a short term, unless your looking to lease a Maxima for at least $500+ a month. The part about you being 17 pretty much rules out any shot of you leasing it under your name, even if you would somehow get approved with your mom co-signing it, the insurance under your name would kill you (Probably $6000 a year since it would have to be 50/100/50 lease coverage).


Also, please let me know which salesman you spoke to or did you see this advertised in the paper? I definitely want to come down there and check it out. I'm in the NYC area and have been looking to lease a fully loaded 2002 Max for a long time, I've been to almost every dealer in NY and some in NJ, the only thing stopping me is the term is always 39 months and I feel its too long for this kind of car. Especially since I could lease a 98 Benz E430 Sport for the same price with the 24 month lease, I just dont like the fact it would have +/- 50K miles on it compared to a new car which would be covered under warranty.
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Old 01-22-2002, 09:36 PM
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Re: Re: Make sure you understand the math of leasing...

Originally posted by dmbmaxima88


even if his mom signs it he might still not be able to drive it. my friend's parents have a leased car and she has to sign a form stating she WOULDN:T drive it till she was 21.
I know a lot of people that are 17 and drive leased cars under their parent's names but I don't recommend leasing in general because it doesn't pay off in the long run.
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Old 01-22-2002, 11:02 PM
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I dont feel like going through the specifics again but leasing is clearly starting to be the way to go. To the point where some places no longer lease as the bank is losing way too much money as the projected value of the cars is dropping below what they could ever imagine. However this only works for someone like me where I cant see myself keeping a car like this for more than 39 months and thats already stretching it.

Quick reference, I lease a fully loaded 2K2 Maxima for $400 a month with zero down (incld taxes+fees), after 39 months is up, I paid $15,600. Now instead of being stuck with it, I get the option of giving it in or buying it out for a very fair $15,000 (considering I would be the only owner, its a lot better than buying a used car in similar condition). Meanwhile if I went the buying route, I'd be lucky to even equal the depreciation of the lease (Meaning I would have to sell for $14,400- compare to a 39 months ago from today and thats what a 99 Maxima is realistically worth now). Now that might sound like a low price but I just think most people would rather pay an extra $3000 but get peace of mind buying from a dealer with a warranty. After selling my 97, I realize that there just arent many people looking to spend over $10000 in a private sale, the everyday used car market is for cars $5000 and under, there's just too much uncertainty considering its a very large investment. Also, the kind of morons and low ball offers I dealt with alone makes the drop/buy out option seem like a gift from god in the end. So thats why I've been really liking the lease idea.
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Old 01-23-2002, 04:50 AM
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Re: Re: Re: Make sure you understand the math of leasing...

Originally posted by RapidMax


I know a lot of people that are 17 and drive leased cars under their parent's names but I don't recommend leasing in general because it doesn't pay off in the long run.
maybe it's massachusetts, we're gay here.
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Old 01-23-2002, 10:17 AM
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Originally posted by NYC GXE
...Also, please let me know which salesman you spoke to or did you see this advertised in the paper?
it was advertised in this past sunday's The Star Ledger in the Automotive section, of course. Here's a pic of just the maxima advertisement

http://www.angelfire.com/nj4/maxima_1/maxiad.jpg


If you want to see the whole advertisement with fine print and all,, go here...the files are large i think so give it time, sorry.. and you may need to save the picture and zoom in if you cant read it.

www.angelfire.com/nj4/maxima_1/

-brett
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Old 01-23-2002, 10:34 AM
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Thank you very much for posting the ad, I'm on my way there now to see what this is all about.
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Old 01-23-2002, 11:23 AM
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I'm guessing that since you're 17, you won't qualify for the $750 College Grad rebate that is included. I also assume that you don't have a Nissan product that you are trading, so there goes the $1000 Nissan Loyalty portion. What is the $545 'Bank Fee' all about? Is this a common thing in the US? Also 10,000 miles sounds like a rather low mileage lease to me.

In the end, I think your 'down' will need to make up the money that they list as College Grad and Nissan Loyalty as well as paying the Bank Fee and the rest of the fine print. My numbers show that you will need to have $4004 in order to pick up the car plus 'tax, tags and registration fees'

Albert
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Old 01-23-2002, 12:01 PM
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"i wanna buy a 2002 SE"

I think we all do? We all just don't want to pay for it. Here's my old (27 yr old)advice. Pick up a used 4th Gen. They are nice cars, as nice as new? Heck, a few years ago they were new. Except now they are 1/3rd of the price. A friend of mine just picked up a 96 SE Auto for $10,000 with 50,000 miles on it. That's nothing for that car. Nissan's have terrible resale that's bad for the people buying new great for us used buyers. If you put $2000 down and make payments of $200 a month. You'd have it paid for in 4 years. PAID FOR! At that point toss a supercharger on it and go hunting for 5th gens.

Even if you go this route then realize that you can't afford it. You can alway sell it and get out of the loan. Can't do that with a lease. Insurance is cheaper too. Be careful on the board there is always something to buy on here.

Remember next years car will always be better then this years car.
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Old 01-23-2002, 12:18 PM
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Well I cannot lease it anyway, so it would be in my mom's name, and she is a college graduate. Wouldn't trade in our nissan, so yeah that rebate probably won't help us. If i can, i would definitely want to buy a new car over a used one, get those extra years out of it, and just have a clean car with 0 miles from the get go (plus, of course, i want the 255hp 6-speed). If your numbers are correct Albert, I can still easily cover the down payment, I have about $7000 as of right now to play with. And parents pay for insurance, so i'm not worried about that at all (im slowly going independent here )

alright well thanks for the advice,, i know i sound pretty spoiled here, but im not totally disregarding the idea of buying a used one, but if i have the option to get the 2002, i'm doing it. just need to work out some things with the parents.

thanks
-brett
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Old 01-23-2002, 12:23 PM
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Old 01-23-2002, 12:28 PM
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It sounds like you have great parents. Good luck with your choice. Are they looking to adopt a son?
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Old 01-23-2002, 01:10 PM
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Originally posted by Wizeguy
"i wanna buy a 2002 SE"

I think we all do? We all just don't want to pay for it. Here's my old (27 yr old)advice. Pick up a used 4th Gen. They are nice cars, as nice as new? Heck, a few years ago they were new. Except now they are 1/3rd of the price. A friend of mine just picked up a 96 SE Auto for $10,000 with 50,000 miles on it. That's nothing for that car. Nissan's have terrible resale that's bad for the people buying new great for us used buyers. If you put $2000 down and make payments of $200 a month. You'd have it paid for in 4 years. PAID FOR! At that point toss a supercharger on it and go hunting for 5th gens.

Even if you go this route then realize that you can't afford it. You can alway sell it and get out of the loan. Can't do that with a lease. Insurance is cheaper too. Be careful on the board there is always something to buy on here.

Remember next years car will always be better then this years car.
It's all about values. There are some people on this forum who have owned 95,98,99,2000,2002. Realistically that's so much $$ wasted that they could own a German car outright. Maybe I'm old-fashioned. It's very difficult to follow the old rule that your car should be no more than 1/4 your salary. Many would be capped at about 21-23 in that case, barely enough for a new Max. Even I plan on breaking that rule if I were to step up to an A4. I'd like to, but what is seriuosly wrong with my 98 that I have to do it?

A person reaches a point in their life, and it may be 22, 25, 27, 30, 35, but it does happen, that they can no longer outspend their means. With home ownership they even have something called PMI for those who still haven't gotten the message. I know people who make a lot of money and yet their cars are 4-5 years old. One thing in common, PAID FOR! As long as you have to be the first on the block, you will always be able to not only waste all your own personal money but that of your relatives.

Anyway, CT and NYC is the home of the big bad 21k 2k2 SE Maxima. Go and get it if you must.
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Old 01-23-2002, 04:14 PM
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Brett, just came back from RT22 Nissan, exactly what I expected.

First off, the ad is for one particular car, notice the vin number included in the ad. That particular car, (If your lucky enough to get it, considering the ad has been out for two weeks) will have a few scratches, a few hundred miles, missing floor mats,etc. Basically they include the fact that the particular car would be sold "As Is". The funny thing is you will never actually get that car even if you came on the first day of the ad, they'll always think of something.

Now, even funnier. If you were to somehow get this base model demo, here is the breakdown. You dont qualify for the $1000 loyalty rebate unless you want to get screwed on your trade in for way below trade in value, you also dont qualify for the $750 rebate since your mom probably didnt graduate within the last 12 months, LOL. So thats an additional $1,750 right there, plus the $2000 they mention, plus taxes, bank fee, MV and registration and first months payments. Albert, good guess but its actually more like $6200 down to get the $189 payment for a car that wont even exist. So it comes down to a demo base model SE which they will never offer you for $450 a month/24 months. Then around $200 a month for NY/NJ average lease insurance.

Now, if your interested in buying one, they were easily offering $1200 below invoice price. The reason all of the dealers are doing this is because the Maxima isnt selling well. For example, this dealership sold 73 Altima's compared to 21 Maxima's for the month of December. My guess is Nissan is offering some kind of crazy rebate to all of the dealers, outside of the $1000 rebate for customers.


P.S. The salesman was actually very nice considering he knew I wasnt going to buy a car. He insisted that I take it for a test drive before I barely even met him.
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Old 01-23-2002, 04:23 PM
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Originally posted by NYC GXE
Brett, just came back from RT22 Nissan, exactly what I expected.

First off, the ad is for one particular car, notice the vin number included in the ad. That particular car, (If your lucky enough to get it, considering the ad has been out for two weeks) will have a few scratches, a few hundred miles, missing floor mats,etc. Basically they include the fact that the particular car would be sold "As Is". The funny thing is you will never actually get that car even if you came on the first day of the ad, they'll always think of something.

Now, even funnier. If you were to somehow get this base model demo, here is the breakdown. You dont qualify for the $1000 loyalty rebate unless you want to get screwed on your trade in for way below trade in value, you also dont qualify for the $750 rebate since your mom probably didnt graduate within the last 12 months, LOL. So thats an additional $1,750 right there, plus the $2000 they mention, plus taxes, bank fee, MV and registration and first months payments. Albert, good guess but its actually more like $6200 down to get the $189 payment for a car that wont even exist. So it comes down to a demo base model SE which they will never offer you for $450 a month/24 months. Then around $200 a month for NY/NJ average lease insurance.

Now, if your interested in buying one, they were easily offering $1200 below invoice price. The reason all of the dealers are doing this is because the Maxima isnt selling well. For example, this dealership sold 73 Altima's compared to 21 Maxima's for the month of December. My guess is Nissan is offering some kind of crazy rebate to all of the dealers, outside of the $1000 rebate for customers.


P.S. The salesman was actually very nice considering he knew I wasnt going to buy a car. He insisted that I take it for a test drive before I barely even met him.
It's been my experience that NJ and PA are flaky, they can get away with some stuff they can't in NY. For example, in PA, they may show a list of say 25,500. SO you think, oh, it's got some options. Then you find out in that 25,500 price they added "dealer protection package" which consists of paint sealant, rustprrofing, fabric guard, etc for $650, wheel lip moldings for $100, and so forth. I've never seen a dealer do that in New York. What I'm saying is what they show as list in PA and NJ is not the factory list, it's that plus dealer installed stuff.

I'd stick to NY if I were you.
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Old 01-23-2002, 04:40 PM
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Actually I'm very sick of all of the dealers altogether. Not one has really offered what I would want to pay for a new Maxima in a lease, $400 or more, nevermind the fact the term is always 39 months. Like someone said, getting a nice 98 would be a much better bet since they are so damn cheap now anyway. For me its coming down to either a fully loaded 98 Max SE which is only attractive because it has everything I want and I would own it.
Or a 24 month lease of a pre-owned Benz

Interesting choices:
98 C43 AMG 35K mil, Silver-Two tone leather-$399/0 down
98 E 430 59K mil, Black on Black-$399/0 down
99 SLK 230 30K mil, White on Black-$399/0 down
99 ML 430 21K mil, Black on Black-$499/0 down

Only thing I'd have to put down would be taxes. When I have these kind of choices, why would I bother leasing a 2K2 Maxima for the same price.
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Old 01-23-2002, 05:08 PM
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HA, SCrew Hillside nissan(r.22) thats where my first one was from and then i started taking it to rt.10 at hilltop nissan and they screwed up my car too so SCREW them. My parents got really great prices using the online services such as autotrader.com , they checked like all the dealerships around and found like prices $5k less than hillside and hilltop. I am not sure about leasing though??
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Old 01-25-2002, 08:48 AM
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There is one little leasing problem I think has been overlooked, they don't like it much when you mod leased cars, they can hit you will all kinds of penalties at the end even if you made it a better car.
I once tried to trade in a car I owned that had a K&N cone air intake and the dealer wanted to knock money off the price they'd offer me because he said it would be harder to sell to people that don't know what the hell that is and would rather pay too much to buy a POS filter every year than clean that one
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Old 01-25-2002, 08:29 PM
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Re: i wanna buy a 2002 SE,,, (kinda long)

Originally posted by brettcassidy
Well I've been here 8 months, well, a member for 8 months, unofficially I've been here for well over a year, and it led me to select the maxima (2000 SE 5-speed loaded) for my moms new car, blah blah and i guess now im going to start posting regularly, (2nd in 2 days)

anyway, i'm a little tired of boasting about the maxima and then having to say, "it's my moms"… never really gets a good reaction out of people. kids don’t like to give credit to me when i win races because its not actually my car, blah blah blah.

so i've been searching for some good prices on a 2002 SE a lot lately, and found that at Rt. 22 Nissan in Hillside, NJ is offering a basic SE (automatic, but im sure i can get a 6-speed, hope to anyway) as a lease option for $2000 down and $180 a month for 2 years,, so i figure i do that, and during the lease i save up my money and prepare to buy the car at the end of it.

does that sound good to anyone? i plan on modding this one, being at this site for so long and not wanting to mod... that just doesnt work. Can’t mod my moms car (she wont let me, i've tried), so its another reason why i want my own.

eventually i'll get leather seats from leatherseats.com or whatever that url is that is all over here,, i also plan on getting some rims to go along nicely with the superblack exterior, lower it, and maybe a few more aesthetics,, power wise, i'd probably leave it stock.. maybe except for a K&N drop in filter or something. (cant afford too much)

can i even lease a car? i'm 17, turn 18 in june. if not i'll have my mom have it in her name.. but under the lease terms would i be allowed to drive it, legally that is? or is there some sort of condition where only she would be able to drive it?
does this sound like a bad idea or good idea to anyone?

so basically, what am i saying? i want my own maxima and i want to mod it, i've been reading and seeing your rides for too long

well thanks in advance again, i know to expect some nice responses… but please don’t say “stick with your moms car, your lucky to drive a max and not pay” or something,, I need my own car for college soon enough anyway, and my mother started a new job meaning less maxi time for me.

Sorry for the length, haven’t learned to summarize yet
-brett
If you want to buy it, do not lease it. The reason for leasing a car is to rid the hassle of selling it to an individual, trade in, or leasing ideally provides a wealthy person or person with disposable income to drive a new car every two years. Often leasing back to back vehicles can leave you with negative equity and result of being upside down before the car is pre owned or driven off the lot.

I think 255 horses and a six speed is too much power for a new driver.

So, my advice is to research prices and options of 4G maximas in your area and take advantage of the depreciation of the Nissans. Depending on what year you get, you can finance as long as 36 to 60 months pre owned. Then in a couple of years when you want the Six speed, the G35 will be the same price or better preowned and because you bought you 4th gen you can trade it in as the down payment while qualifying for Student bonus among other possibilities.

Okay I am going to bed.
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