How many years is the lease for and what's the mileage quota. This really sounds good. I leased my 02 with 500 down for 36 months and 15K miles/year - cost =430/month. I drive a lot and don't like to keep a car with more than 50K miles on it, so leasing is the way to go for me. Also, I've owned cars before and the cost of ownership as the cars get older (cross 50K miles) increases exponentially. I think that money is basically going down the drain, unless the car is paid for by then.

Canuck:

I'd not suggest buying a car that's out of a 3 year lease (not because it was a lease but because it's 3 years old), unless it comes with an extended warranty. You should instead look for a privately owned s2k that's still within factory warranty and full service records, then just buy it and get an extended warrany for about $800-$1000

 

The $420 per month lease I have is for three years with 12k miles per year, I got it in Boston so that might help because I am from NJ and I know they will not go that cheap there, so it is def all about location in this case. If you take into account the $1200 negative equity and remove that from my payments, it really comes out to about $390 per month or so, I was really impressed

 

If you're writing off your car for business purposes, it doesn't matter if you buy or lease. If you lease, you write off the lease payment. If you buy, you write off capital cost allowance (similar to depreciation) and interest costs.

Disclaimer: The above was written in simplistic terms and applies to Canadian tax law only.

 

It seems that you guys know a lot about leasing....

Question.......
I was wondering if any of you have turned in a leased Honda or Acura to Honda Finance after the lease was up.
I have one coming off lease with them and I was wondering if they really ask for the maintnance papers for oil changes and service or if they just state that in the lease to try to make you keep up with the svc ....

Any advice would be greatly appreciated

Thanks