There's an outfit in Ohio claiming to do honorable auto leasing.
The company is called Automobile Consumer Services. The owner
claims they can lease a 2002 Honda S2K for less than a dealer.

The web site is http://www.acscorp.com/

Any helpful comments are appreciated.

My ride is a silver Acura CL Type S. I'm just wondering if I'm missing
something, not driving an S2000.

Tony

 

Well, first of all, you are missing something by not driving a S2000. As far as leasing goes..... it's no different than renting a house versus buying one, because you have nothing to show for it on the back end. I'm not big on leases and never have been, but bottom line is that it's all a matter of personal opinion....

 

You will find many opinions on leasing, it's not for everyone, but for me...I saved about 6 thousand dollars. I'll never purchase a car again, and I'll let the dealers worry about what goes wrong with it.

Andrew

 

Leasing helps with cash flow... The cost of money is the same whether you finance via loan or you lease.

 

You're right about leasing helping cash flow.....but for some people (myself included), having something to show for our money is important also. Personally, I don't like paying for a car, home, or whatever....when somebody else owns it, and letting them make the money by renting to me. If I'm paying for it, then I want the Title to it..... The only advantage there is to leasing and/or renting, is that you don't have to worry about fixing anything that goes wrong.....but then you don't have the concrete assets on the end either.

 

Leasing isn't the choice if you're into doing mod's on your car. But if you want to keep it the way it comes, it's not a bad way (affordability wise) to put one in your garage.

 

Don't miss the MAIN point of leasing: you are only paying for the time/mileage that you are using the car. You are not paying for the entire car and that's why it is less to lease.

Leasing is not for everyone. If you can't take very good care of your car, DO NOT lease. On the other hand if you want a new car all of the time that's under warranty and don't want the higher payments, consider leasing.

It's a personal choice. Whatever you do, get the S2000 and enjoy it.

Bob

 

You guys are confused about leasing, but I'm not surprised, the general public can get taken to the cleaners with leasing. When I turn my S2000 in at 36,000 miles my investment itself will be about $6,000 dollars less than the purchase would have been. Now, the argument here seems to be that you would have the same investment leasing or buying, but you are wrong. Show me an owner with $6,000 positive equity in an S2000 at 36,000 miles and I'll kiss your ass. Cars depreciate, get this one point straight, if you don't like it, don't drive a car. The dealer may work the numbers to make it look like you have some sort of equity, but the numers lie. If you are one penny less than 6K in the black (assuming you trade the car when the warranty runs out), my investment was better than yours. If you guys need a detailed description of how this works you can search the various threads or I can show you again.

Andrew

 

Leasing is not that much different than buying. The major issue is the lease rate, and again, is not that much different than an interest rate. If you get a good lease rate, then leasing (IMO) is not a bad thing. Most all leases provide a purchase option at anytime during the lease. The principle is paid down with the lease payments just as it is with a purchase. The major difference is that your paying more "rent/interest" over time with a lease as the principle does not decline as quickly as a purchase; hence the lower payments on a lease.

So, over time, if you lease for 5 years and then purchase for another 3 year term, its almost the same as a purchase for an 8 year term.

The two advantages to leasing, as I understand it, 1) a write off if you own your own business, 2) in certain circumstances can result in a sales tax saving. Illustrated; if you decide to sell your car in two years...if you purchase you have paid full sales tax on the vehicle at the time of the sale...if you lease, you sell the car, pay off the balance, and you have not paid the full sales tax on the vehicle as the tax is spread out over time with the payments. Again, most but not all leasing agreements will let you out of your lease at any time if you are willing to pay off the balance.

Here's the main issue IMO with lease vs purchase. Depending on the rate...if you have better things to do with your money, ie., if your making more money on the money you save monthly on a lease than the lease rate you are paying..then it makes sense to lease....the cash flow issue.

Hope this makes sense.

 

Here is my view on Leasing.

I am saving $200 per month by Leasing my S2000 for 4 years. That is a total savings of $2,400 per year and $9,600 per the 4 year life of the Lease. The way I see it, is this. Instead of waiting to sell my car to get my equity, I get it along the term of a lease on a per month basis. If I save this money, then I will have $9,600 to invest in something that is non depreciable like Stocks or Realestate. Over 4 years, you can generate a much higher return on investment than ever buying a car. You must be disciplined to do this, but leasing has it's advantages.

I say if you don't plan to modify the car, and have a habbit of keeping a clean car, then Leasing is for you. Also, keep the miles within 12K a year and you are good to go. Just turn it in for a brand new S2000 when the lease is up! Cool?