I was thinking of leasing one of the two cars, both are 2004.

Which one do you think is better for a daily driver and overall fun.

STi lease for 24/36/48 months is $723/$537/$464.

S2000 lease for 24/36/48 months is $600/$431/$376.


Also, if I get a 48 month lease and get out of it after only 24 months what does it do to me? Do I pay an early termination fine? Does it lower my credit?

Thanks.

 

Leases are a B**TARD to get out of, you pretty much gotta get someone to buy it out or take it over.

 

You are committing to pay the monthly nut times the number of months... No "early termination fee". You owe it all, unless you default.

The only real option is to sell the car (for almost certainly less than the lease payoff) and pay the difference, or try to sell with a lease assumption, *if* your lease even allows it.

It sounds to me like you might be far better off buying an '00 S2000 or a used WRX rather than hocking your life to get a car that is more than you can comfortably swing.

 

I have both those cars and the STi is faster and more practical, but the S2000 has more soul. One thing about the STi is that it has a harsh suspension, if that bothers you stay away from it.

 

I am 16 and my parents are going to get me something. I was considering a used E36 M3 or leasing one of these two cars. I can afford the lease payments for 2 years on both cars. I know the payments are higher but it's probably going to save me money in the long run. That is probably a lot easier than trying to sell it and pay the dealer. I can also afford a lease on a loaded E46 M3 but am wondering if it is worth $749 a month. That is if my parents let me get that car. Even though I have the money to pay for the lease i don't know if they want me to be driving a $60,000 car as my first car.

 

$431 for 36 month lease!!!!!!!!!!!!!!!! that is a steal, I am paying

 

You say your parents are getting you something, are they paying for the car or you?

 

You could not be more wrong about this.

Your total cost of buying a used E36 M3, financing it with a used car loan, then liquidating two years later could be as much as $10,000 less than leasing a new STi or S2000 less, then early terminating or getting a very short (like 24 month) lease.

Some good rules of thumb:

1. Leases are bad news unless you plan on keeping the car the entire lease period, never go over the stated milage, and keep your car in great shape and STOCK.

2. Heavy depreciation occurs in the first two years of a cars life. Particularly luxury cars and sports cars.

3. Car dealers will rarely if ever tell you the truth about auto financing

 

I will be driving the car for less than 5,000 miles per year since my dad has to drive to work everyday and averages 7,000 miles a year.

If I take a 24 month lease it will be payed in one payment upfront in cash.

If I buy a used car then it will also be payed in cash. My parents never finance cars and don't intend to.

My parents are willing to pay upto $15,000. I pay anything over that. Plus I am at an advantage over other kids in that I don't have to pay for maintainace or gas. I have to pay for mods though. I make about $500 a month since I only work 6 hours a week.

 

If I lease and don't buy a car I decided to just take a 24 month lease since it is too much of a hassle to sell the lease.