I chose to lease my car because it made "sense" to me. I am in my 23 and work for a software company where I travel over 80% of the time. I am home only on the weekends and harly drive it at that rate. I have had used cars all my life and had to deal with repairs, repairs and more repairs. The leasing option was best beacuse 1. I dont put miles on the car 2. I was a lower monthly payment 3. Its a 2007 - under warnety for the duration of my lease. 4. Will probably end up truning it in well under the 12k a year allowence. 5. At the end of my lease I will be driving a new Z with a new body style, while you all are paying off your 5 year old note

So whatever floats

 

I didnt create this thread to battle out the pluses and minuses if buying vs. leasing. I just wanted to know what the monthly payments were for those who leased like I did. But I threw my 2 cents in the disscussion too as you can see above.

 

In your case leasing makes sense, but for the large majority it doesn't. Average American drives ~15k miles/year. If you live in a big city that's far apart from everything like Dallas then it's going to be more. Example, I have a 2005 Altima that I bought with 11 miles brand new. Two years later the car has ~55K miles. That's just driving within the DFW area. I paid the car off already. Total note was around ~$21k. 2 years later from the date of purchase my car is worth about $11k-$13k on the market. If I had leased it, I would have at least $15k or so left in the total payoff and when I try to return it I would be way over. I remember the residual also when I explored the lease. The amount at the end on a 48 mon term would put the car around $11.5k but that number is two more years and already out the window. If I trade it in I would be at the mercy of the market. Sadly, most Americans who lease fall into the second category.

 

True, but with any kind of financing, buying included, you are going to pay more than if you bought it outright. Most people don't have 30K lying around, I certainly don't.

Buying at 28760

28760 + tax(7%) = 30773
30773 + interest(6.2%) = 32681

Maybe its more complicated than this but I don't see enough of a difference.

To me it looks like I would be paying the same if I purchased but now I don't have to deal with maintenance, larger payments, longer terms to bring those payments in reach (more interest paid on longer terms), selling a used car, and I can get a new one when the lease is up. Win Win Win in my book.

A good salesman would push for what the customer needs are not try to 'sell' what they think we need. Leasing makes sense for alot of people and should not be considered 'bad'. Heck, I leased a 97 Hyundai back in the day for 107 a month for 3 years. Now that was a deal.

 

Anyone wants a lease . . . .look at acura's residuals right now. A $34000 car for $299/month. Not too bad.

And Sargent . . . If you are happy with your car, and happy with your deal . . . Do not let anyone bother you about it. Even me. I am just here to try to help a few people.

 

i think this thread just made me realize i definetly wont be able to afford my Z.... just did the math you wrote up and for new touring it will come to at least 35k, over 5 years its like 600 a month... i dont pay for college, and insurance will only be 1600 a year i got quoted for but... my car payment alone will most likely be half of my monthly income... unless i manage to get a job this week and save up couple grand..... doubtful... father will take care of payments for first year he told me.... which would allow me to save up money to prepay the car off.... but ughhh im just dieing for an 07 Z, i know theres plenty of 06's left over but im just diein for an 07....... gotta figure this out. love living with a guy who makes half a mill a year (stepfather) but i cant get just a little help for my dream car cuz he hates me lol

 

I leased my car with every intention of simply trading it in just before the lease expires after 42 months. Thats why every mod I did is easily reversable or sellable.The car value will be in the neighborhood of 17-18k and the amount owed will be around 16k. I enjoyed a lower payment, less initial at signing, and I am still going to get my Audi S5 with no hassles and I will not be upside down.

If you know what you are trying to accomplish, leases can make sense. I work in finance and crunched the numbers and I am coming out ahead by about 2k over a purchase.

People just jump and say leases are bad when in actuality they can be a better deal based on what your intentions are.

 

Sounds like he is willing to help you. Not to mention I assume hes paying for you to go to school.

Own a car don't let it own you.

 

buy > renting....i mean leasing

 

I read somwhere that your car expense, payment, insurance, and gas, should not exceed 25 percent of your total income. I fell well under that so now I have my Z. Good luck, stay in school, work hard and you to will be rewarded.

 

I agree completely with that statement. I have always wanted a Z since the 1st time I laid eyes on it. Fell Head Over Heals. Got through college, admiring every Z that I came across. I told all my friends that one day I would have one! I finally graduated and was lucky enough to get a good job before even graduating (software consultant). I waited a almost a year from getting the job paying off all my debt. Last month I got my dream car! 07 PPW Enthu!

--- I am now back in debt, but it WAS WORTH IT!!!!!

Work hard - stay in school - and you will have it - BE PAITENT!

 

Well yea my father is the nice guy, willing to pay for the car for the first year. My stepfather is the rich one, not saying i want everything handed to me, because i dont... just maybe a new Z lol. Anyway leasing my 04 accord ex v6 was nice. Got into a brand new car with 1k down and 325 a month. Too bad in 4 months im left with nothing to trade in. Salesman at nissan told me i should buy it out and then sell it for like 16k, buyout price is 14,500 about. Bumper need replacing though, doesnt seem worth it for me. Thats why i want to buy, you can always trade the car in anyway in the future. Funny thing is i have 0 points, 0 accident and im 21. My accord costs 3k a year for insurance. Oh and thats with a 1k deductable...The Z will cost 1600 a year for the same coverages with a 500 deductable. Sigh...NJ sucks, so much money wasted on insurance. . Having a deer jump into the side of my car wasnt fun to pay for... I may have to consider an 05 or 06, i just hate the fact, i know its a sports car and i know how i drive sometimes, i dont want a beat up car. Anyway some cars just dont lease good at all, my brother told me all about it, he used to sell cars.

 

Age:
23
Z/G Owner:
Z
Location:
Framingham, MA
Color:
Pikes Peak White
Trim Level:
Enthusiast

Congratulations.