Leasing cars are better if you don't plan on keeping the car.

 

Leasing only ends up costing you a bit more than buying. We're talking around $1.5k-$2k. small price to pay in my book to turn a car in after 3 years if: 1) your financial situation changes 2) your needs change 3) you end up not liking the car 4) A new model comes on the scene

S2000's aren't selling that great. I was quoted $26,500 for a new 2007. I've been watching several on Ebay that have been relisted several times. With a lease, you're guaranteed a buyer in 3 years (Honda Motor Corporation).

My $0.02.

 

I don't see how it will cost more than buying seeing as you usually pay for roughly half of the car's cost when you lease. Even if you decide to keep the car after your term has ended, you just have to pay the residual cost.

 

right now, i'm having same dilema.

option 1 : lease 2008
$349/mo x 36mo + $2500 down = $15064+tax+fee
estimated purchase price = $20000(highly doubt it but whatever)

option 2 : buy 2007
$26500 selling price. pay tax&fee seperately to cut the monthly cost down.
4.99% apr for 5yr with $0 down = $499.97/mo
Total payment = $29997.98
Total payments after 3yrs = $17998.92
remaining cost after 3yrs = $11397.34

without the doubt, option2 is wiser choice.
also if you lease the vehicle, you are locked to keep it for 3yrs, while buying gives you option to sell it anytime if something happens in your life.

i'm having dilema because of following:
1. i like the 08 gauge better, but i wish they kept the windshield frame black.
2. i like 07 gpw, but can't really find one near me.
3. i'm not sure where the hell i'm gonna be 1.5 year from now and might move to singapore for couple years.
4. $150/mo isn't a lot but anything could happen and would be nice to have $150/mo safety margin.

 

The lease versus buy decision should be the same regardless of the make and model you're considering. Which option fits you?

 

edit.

Residual is pretty high at almost 20K. I leased an 07 for a about the same amount with a residual of 17.5K

 

Just an Idea- If your going to lease, tell the dealer that in a few months you might like to purchase and that you want to know the total buy-out price.
In effect this would be the total price of the car plus any interest you've already paid which you won't get back.
Example: $30,000 minus $2000 down= $28,000 total buyout.
Total payments each month would have to equal at least the minimum required by the dealer. If you could add to the minimum, money could be saved since interest on the balance each month would be less.
To draw out this example further if the dealer required $500/mo for 36 months, and interest rate is 5%, or maybe $140mo/est over a year and approx $360mo/principle.
Assuming these figs are right and the dealer agreed, your total buyout at the end of one year would be $23,880.
These figures are not exact because of amortization but hopefully give you an idea beforehand. Also not included are state taxes and tags.
I don't know if this is figured from the value of the car when new or is now figured from Blue Book as a used auto.
I'm not sure this plan would get by a dealer though since it looks much more like a plan to buy than to lease.
Still, buy or lease, I think the dealer should be able to give you a total buy-out price. This way you at least know what you paid for the car.

 

It always seemed better to lease a car for me.
You can always swap the lease.

These days I'm looking into taking over the lease with low payments, with about 10 months left so I can constantly change cars.

I mean....There are quite a few 06/07 Z4M with under $500 monthly with nothing down that has less then 15months left on its term.

It just makes more sense for me to lease something if you can get a nice deal.

 

26 k for 07's huh? then i musta got jipped paying 29k +tax and licensing for mine. psh... bogus... i'm outta this thread, it makes me feel like crap.

 

Be aware that if you lease the car through Honda Finance (instead of a different bank), that the lease is NON-TRANSFERABLE. You can't simply have somebody else assume the lease. The only way out of the lease is to either find somebody to buy the car at your buyout price or trade it in at a dealer (most likely at a substantial loss / negative equity). You will also have a problem even if you do find a buyer yourself, as Honda will only sell the car to you. So you may have to buy the car and pay the full sales tax on it only to sell it the very next day.

My advice is don't lease unless you are positive you will keep the car for the full term of the lease.