I called a local Honda dealership and they're telling me that Honda Canada has a fix residual of around 50% on a 4 year lease. Does this sound alright? I wasn't able to get exact details but the sales guy told me around $10,000 a year to lease. This doesn't sound that good to me but I've only started considering leasing.

 

38views and no reply? Help me out here.

 

It really depends on what you want to do. I mean if you want to actually BUY the car but don't have the money, borrow it from the bank instead of financing it. If you just want a car that you can give back anytime without any worries with the option to buy, just lease it. Are those numbers for an S2000 though?

 

Wish it was that simple. One also has to take into account their employment and tax situation. i.e if you're self employed you may be better off leasing even if you do want to keep the car.

 

The money is there to buy. The thing is that I do like changing cars. Just which one will be a better deal. In three years time, will I be better off having leased or buy? If I buy I'll have less money to invest if I lease, I might end up paying more for the car and the no equity factor.

 

Well, if you're paying 10 grand a year to lease a car with no equity for 3 years, you might as well buy it and sell it off again in 3 years so at least you can get some money back. Depreciation may be high on cars, but nothing compared to throwing 30 grand away.

 

[QUOTE]Originally posted by Howie
[B]I called a local Honda dealership and they're telling me that Honda Canada has a fix residual of around 50% on a 4 year lease.

 

The quote I'm getting is 800CDN a month with no down on a 3 year lease. It's 64%residual for 3 years and 50% residual for 4. Plus and minus a few percentages. Anyway I calculate it, it seems leasing is a bad deal for me.

 

63%-3yr, 59%-4yr

 

I will be paying around $29000CDN to lease the S2K for 3 years so that is a horrible horrible deal right?