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Discussion Starter #21
Unless you plan on buying the car (at a good price negotiated up front) it usually isn't a good financial deal. sf5 is going to pay $2150 + $220*36 or $10,070 over 3 years. If I think about buying the car new (you can get a 12 Si for ~$20k) would be worth more than $10k at the end of 3 years? (A quick search on Auto Trader shows 3 year old Si with 35-45k miles listed for $19k and KBB lists it as worth $14-17k).

So if he buys it after the lease, he will come out the same as buying it, maybe less $1k in fees or something. If he turns it back in, he pays the dealer $10k and then the dealer can turn around and sell it for $15k (plus TTL!!) so they just made $25k+ on a 2012 Si.. Easily $5k profit over if they had just sold it to you.
Very well said.

I bought this car to learn manual because I plan on eventually getting a standard Beamer. Drove it off the lot that day after a crash course from the salesman. I don't want to go back to auto, and Honda has me impressed with the car; however, a stock tighter suspension and/or turbo would have made it an epic ride. Come on, Honda.

Also, if I turn it in for another lease, Honda may give me a really good deal on their newest Si since I take care of it and make my payments.
 

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Unless you plan on buying the car (at a good price negotiated up front) it usually isn't a good financial deal. sf5 is going to pay $2150 + $220*36 or $10,070 over 3 years. If I think about buying the car new (you can get a 12 Si for ~$20k) would be worth more than $10k at the end of 3 years? (A quick search on Auto Trader shows 3 year old Si with 35-45k miles listed for $19k and KBB lists it as worth $14-17k).

So if he buys it after the lease, he will come out the same as buying it, maybe less $1k in fees or something. If he turns it back in, he pays the dealer $10k and then the dealer can turn around and sell it for $15k (plus TTL!!) so they just made $25k+ on a 2012 Si.. Easily $5k profit over if they had just sold it to you.
What does it matter if the dealer sells it for more? you got the car, drove it for 3 years, and paid only 10k, most people change cars after 3-5 years anyway
 

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I leased cause I couldnt afford a 450 month payment. And I change cars every time I can.. Ive been living in Va for 2 and a half years and have had 4 cars already... I get bored fast... the lease basically forces me to stay with it longer..lol
 

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i pay $240 a month for mine and i have a $1,200 down payment and i only leased for 2 years. I think its a pretty good deal. then my buy out price is like $14,000 which is great if i plan to buy at the end
 

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What does it matter if the dealer sells it for more? you got the car, drove it for 3 years, and paid only 10k, most people change cars after 3-5 years anyway
So it is just if you want to pay for convince or if you want to have the most economical option. OP's reason is that he may damage the transmission - or even decide he does not want a stick shift and the reason for the lease is so he does not have to worry so much about the results of him learning stick. But if he had spare cash, he could of paid a bit more on the month to month and then sold his car at the end of it and ended up taking maybe a $5,000 loss over 3 years instead of $10k. The last example is a $7,000 2 year lease that if you went through buying and reselling would cost you (assuming a 2012) maybe $3-4k.

There are circumstances where you don't want to/can't make the higher payments - but the reality is leasing is often much more expensive than buying a car. It is one of those situations where not having money, costs you more money and perpetuates the cycle. I got my truck for $8800 in ~2005 and am still driving it. If I had leased a car at a low rate of ~$3.5k a year, I would of spent $24.5k so far (and yes, had new cars) - but that $20k savings (truck currently worth about $4k) will let me buy a new car, and if I so choose, perpetuate the cycle buying/selling a new car every few years with a net gain of a few thousand every couple years.

There are circumstances where leasing may fit your situation. There is the common argument that "I can buy the car after my lease so it will be a good deal" (although out of 3 people I personally know who said that, none of them bought the lease). Just some thoughts to consider, maybe a different perspective.
 

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Discussion Starter #26
So it is just if you want to pay for convince or if you want to have the most economical option. OP's reason is that he may damage the transmission - or even decide he does not want a stick shift and the reason for the lease is so he does not have to worry so much about the results of him learning stick. But if he had spare cash, he could of paid a bit more on the month to month and then sold his car at the end of it and ended up taking maybe a $5,000 loss over 3 years instead of $10k. The last example is a $7,000 2 year lease that if you went through buying and reselling would cost you (assuming a 2012) maybe $3-4k.

There are circumstances where you don't want to/can't make the higher payments - but the reality is leasing is often much more expensive than buying a car. It is one of those situations where not having money, costs you more money and perpetuates the cycle. I got my truck for $8800 in ~2005 and am still driving it. If I had leased a car at a low rate of ~$3.5k a year, I would of spent $24.5k so far (and yes, had new cars) - but that $20k savings (truck currently worth about $4k) will let me buy a new car, and if I so choose, perpetuate the cycle buying/selling a new car every few years with a net gain of a few thousand every couple years.

There are circumstances where leasing may fit your situation. There is the common argument that "I can buy the car after my lease so it will be a good deal" (although out of 3 people I personally know who said that, none of them bought the lease). Just some thoughts to consider, maybe a different perspective.
Right on the money.

Buying is great for the long term, but if you lose your job, decide you don't like the car, or have a kid, you're totally screwed because you can't break a loan like you can a lease for $500. Of course, you can sell the car, but taxes are going to hurt, and it will end up costing you big money, not to mention the trouble of finding a buyer or dealership that will pay you anything fair.
 
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