S2000Tuner

Leasing can be good or bad. I believe Honda has the BEST leases compared to any other manufacturer out there, that is because they hold their value. I love leasing, simply because I change cars within 2-3 years max, plus you get to always drive a new car all the time.

I got my 06 GPW in June 2006. $800 total driveoff, $380/month including tax, 36 months. It seems like most of you paid too much.

I have leased many cars in the past (Mostly good but some bad):

2001 IS300: $2k down, 36 months, $460 including tax (just ok deal considering it was the 1st year of the IS)

2003 NSX: $1200 down, 36 months, $862 including tax (awesome deal, awesome car)

2005 IS300: $1500 down, 36 months, $419 including tax (ok deal)

2005 xB: $500 down, 24 months, $302 including tax (HORRIBLE deal for such a cheap car. A crazy lease special came out for the Pilot just a month after I got my xB for $2k down, 36 months, $249/month including tax, that was one of the craziest lease deals I have seen till date, should have gotten the Pilot over the xB by far.

Now, S2k for the deal mentioned above, which I think is pretty good. I go through cars pretty quick. I know I am getting a good deal on the s2k because:

1. I added all my monthly payments together ($380 X 36) to get $13680.

2. I added the $800 down to it which made it come out to: $14480

3. Estimating the sticker price before tax at about $33k, I subtract $14480 from $33k and I come out to $18520. $18520 is what I would owe on the car if I was financing it PLUS interest. My residual is about $18k after 36 months is over with. If I decide to purchase after 3 years, I would have saved money over purchasing. If I decide I dont want it anymore, I just simply give it back to them.

I love leasing.

teknickcian

Here's my situation..

I wanted to get my S2k so bad, that I had to finance it for 5 years just to get monthly payments below $500 with 6k down payment

At the time it wasn't a bad idea. I could afford it.

But now looking back, I don't think I'd keep the S for that long.

So..

Luckily I have a beater car that takes me from point a to point b while the S is sitting in the garage (keeping the miles low)

with that as my situation, I feel like leasing would be a better idea but now I am stuck making higher payments compared to leasing.


SO my new strategy now is....wait 3 years make the payments, don't hurt my credit score.

then trade in the S with low mileage to get a car of my choice

anybody else thought about that way?

plutonium239

$2250 down, $379/month for 36 months.

North Star

Your word isn't gospel, so quit trying to sound like a straight finance is the be all to end all. It's not and to believe otherwise totally limits your options.

I already put out a scenario in which leasing with the option to buyout in the end would benefit the person. I love having my car brand new, with me as the ONLY driver. No mystery past with a used vehicle.

And what the hell, if in another year or two I have some kids and decide on something else, I can wash my hands with the lease and not worry about trying to trade in the car to cover the payoff, or trying to sell it on the street to cover the payoff.

Leasing is VERY beneficial if you use it right.

shamoo

Some of these lease prices are higher than my finance payments for a brand new 07.

Anyway, I'm reading and I fully understand all the arguments between buying/financing versus leasing. However, what about the people who drive a lot? I drive roughly 30-40K miles a year. I haven't seen a leasing program that has unlimited mileage. Have any of you seen what a lease will run when you tell the dealer you plan to drive 30K miles a year? The Porsche dealer I went to thought I was nuts when I asked about a 18K mile lease (and that brought the lease price up about $400).

bjeong1381

It all depends on the terms of your lease. I only put $600 down including my first month and my payments are $400 a month after taxes. I am gonna pay the lease off early. Buy the car and pay that off early. I will get pay the car off in the same amount of time as if I had bought it int he beginning but I saved an ass load of interest and had to put down next to nothing. It all depends on the terms.

North Star

Yeah, if you drive a lot, than leasing is a bad thing. The over mileage can get really steep to payup!!!

North Star

Exactly! Different strokes for different folks!

There is no wrong or right answer here, it's all in the person and what they want and how they are willing to pay for it.

JackS

Leasing may be a great oppertunity for the guys that want the car now but feel they don't have the dough to buy now.
Job promotions or expected windfalls coming in the near future may allow many people to go ahead and get the car and then purchase several months down the road.
The only possible downside would be if you didn't fully understand the terms of the lease.
If it were your intention to do a deal like this, it would be prudent to get a buyout price in writing for the month or year of your intended purchase. This way there is no unexpected and possibly unreasonable charges that could concievably pop up and surprise you.
Total price within a few hundred dollars would be reasonable to me since you do have the option to turn the car in at the end of the lease and not go through with the buyout deal.

S2000Tuner

One thing I really dont understand, a few of you have said you ended up financing and are paying less. Can someone please explain? I paid $800 total driveoff on my lease and $380/month including taxes. Of course the car will not be mine unless I pay it off at the end, but how are you financing and paying LESS than I am? Are you financing for a 10 year period? Or maybe financing a MY01 and paying $200/month for 6 years?

Please explain since it really does not make any sense to me.