The lease deal on the 04' NSX isn't bad @ $799/month. Just wanted to get some feedback on whether it would be better to just lease an 04' or purchase a used 2000 or 2001 NSX.
Thanks.
Thanks.
Lease vs. Buying
- Thread starter O-Ace
- Start date
Lease vs purchase
The cheapest way to drive a new car every few years is to lease one, the most expensive way to own a car is to lease it. You have to do the math. The guaranteed residual value on the car, excess mileage charge of only .15 p/mile all were attractive to me. The negotiated price on my 02 (leased almost a year ago) was 74m, the residual is 55m, the difference plus finance etc is obvious. I love my decision, and a good friend of mine is already expressed interest in buying the car off lease in 2 more years. I probably won't even have to pay the mileage as a result. The new HSC should be a known entity and I can decide what to do next. Do the math for yourself, then decide. JMHO
The cheapest way to drive a new car every few years is to lease one, the most expensive way to own a car is to lease it. You have to do the math. The guaranteed residual value on the car, excess mileage charge of only .15 p/mile all were attractive to me. The negotiated price on my 02 (leased almost a year ago) was 74m, the residual is 55m, the difference plus finance etc is obvious. I love my decision, and a good friend of mine is already expressed interest in buying the car off lease in 2 more years. I probably won't even have to pay the mileage as a result. The new HSC should be a known entity and I can decide what to do next. Do the math for yourself, then decide. JMHO
I was actually considering a twist on this myself - would it make sense to trade a 95 NSX toward a lease on a 2004? I own the car outright, so I could probably come pretty close to getting into a 2004 lease for almost no $$$ at all. However, come 2007, I own nothing.
It sure would be nice to have a brand new NSX and the warranty, plus all the upgrades versus a 95, but then I won't really have anything to show for it in a few years. OTOH, I like to switch cars so often that maybe it's not a bad deal.
I wish I wouldn't have even seen the lease deal in the first place!
It sure would be nice to have a brand new NSX and the warranty, plus all the upgrades versus a 95, but then I won't really have anything to show for it in a few years. OTOH, I like to switch cars so often that maybe it's not a bad deal.
I wish I wouldn't have even seen the lease deal in the first place!
I did a fair amount of research on this subject recently.
If you will own the car a short period of time or were going to finance any way then a lease is a worth thinking about.
I ended up on a lease for tax reasons. If a put down money on the new car I would have taken money out of service and could only depriciate it 5K a year.
I leased for 4 years and can wright off all of my payments, then buy the car at the end and depriciate from there.
Depends on how you earn your money though.
If you will own the car a short period of time or were going to finance any way then a lease is a worth thinking about.
I ended up on a lease for tax reasons. If a put down money on the new car I would have taken money out of service and could only depriciate it 5K a year.
I leased for 4 years and can wright off all of my payments, then buy the car at the end and depriciate from there.
Depends on how you earn your money though.
O-Ace said:
depending on your price range, you can probably find a 02 if you prefer the 02 look for the price of a 01 around mid 60's.
i am thinking of the lease myself but I would go in and negoiate the cap cost so you can end up at 800 even including tax. if the car has been sitting in the showroom over 60 days, they will want to move the car more quickly so they might let you negotiate 10k miles a year instead of 7.5k. Good luck.
The only way I ever would lease again, is if it is a premium car that I plan on keeping for a long haul, AND that I can NOT afford the payments of buying it. Yes you will end up spending more leasing for 3 years, then buying it over 5 more, but the difference is, one way you will have your dream car and the other way you will not.
My point is IF you can swing the payments to "buy" definately buy! If your max budget say is $800/month in this case you could lease for 3 years, and then take out a loan for say 4 years after that and own it clear after 7 years. If you would buy a new NSX on a 5 yr term, the payments would be way over $800/ month therefore you will have to stick with your civic! Your pick
My point is IF you can swing the payments to "buy" definately buy! If your max budget say is $800/month in this case you could lease for 3 years, and then take out a loan for say 4 years after that and own it clear after 7 years. If you would buy a new NSX on a 5 yr term, the payments would be way over $800/ month therefore you will have to stick with your civic! Your pick
