Buying 08 RDX this week

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Old Jun 23, 2008 | 12:50 PM
  #1  
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Talking Buying 08 RDX this week

hi guys, was in the market for a CR-V and unfortunately I wasn't impressed with it; a friend recommended RDX and DAMN!!! that was awesome (became an Acura diehard overnight). Can't stop thinking about it.

Anyways, due to various reasons (like 3300 washingtons for the upgrade plus tax on it) decided to go for the base over technology package (I am really happy with the configuration plus I have a garmin 650 that I really luv).

Thanks to one of the sticky for addon installations in this forum, I kinda decided to let the dealer install the body guard molding, rear bumper applique, front hood applique, moonroof visor - these are out of my league; I plan to install the mud guards, hidden hitch though; are there any other addons you guys recommend?

Plan to get the weathertech liners as well (my friend who recommended the RDX, drives a TL and he luvs the weathertech liners which I thought weren't that bad).

I have a MDA with WM6 but planning to get the iPhone in july and reading thru all the threads, looks like I might be better off getting the proclip and mounting it near the dash and use the aux-in port. Might sound like a noob question but did any of you try streaming the music over bluetooth or is it used only for HLF?
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Old Jun 23, 2008 | 01:35 PM
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Originally Posted by NinjasLuvAcura
hi guys, was in the market for a CR-V and unfortunately I wasn't impressed with it; a friend recommended RDX and DAMN!!! that was awesome (became an Acura diehard overnight). Can't stop thinking about it.

Anyways, due to various reasons (like 3300 washingtons for the upgrade plus tax on it) decided to go for the base over technology package (I am really happy with the configuration plus I have a garmin 650 that I really luv).

Thanks to one of the sticky for addon installations in this forum, I kinda decided to let the dealer install the body guard molding, rear bumper applique, front hood applique, moonroof visor - these are out of my league; I plan to install the mud guards, hidden hitch though; are there any other addons you guys recommend?

Plan to get the weathertech liners as well (my friend who recommended the RDX, drives a TL and he luvs the weathertech liners which I thought weren't that bad).

I have a MDA with WM6 but planning to get the iPhone in july and reading thru all the threads, looks like I might be better off getting the proclip and mounting it near the dash and use the aux-in port. Might sound like a noob question but did any of you try streaming the music over bluetooth or is it used only for HLF?
I'm pretty certain you cannot stream msic over bluetooth, though to be honest I havent put much effort into trying to do it. You'd probably have to jailbreak your phone in order for you to have control over the audio out.

I have an iPhone, and I use the ProClip with the Dice docking cradle, as well as the dice unit. It allows me to use the XM sat still, and provides another hidden aux in. I dont like wires hanging around the dash, so this was really ideal for me. I really need to put up some pictures already. :/
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Old Jun 23, 2008 | 11:53 PM
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Originally Posted by jimmypop
I'm pretty certain you cannot stream msic over bluetooth, though to be honest I havent put much effort into trying to do it. You'd probably have to jailbreak your phone in order for you to have control over the audio out.

I have an iPhone, and I use the ProClip with the Dice docking cradle, as well as the dice unit. It allows me to use the XM sat still, and provides another hidden aux in. I dont like wires hanging around the dash, so this was really ideal for me. I really need to put up some pictures already. :/

Hey,

can you please share your experience with ProClip? I was looking for something for my iPhone/RDX and never found anything useful, especially when you dial the number from the phone, I have to switch to bluetooth manually...
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Old Jun 24, 2008 | 12:08 AM
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Do yourself a favor, before you buy an RDX go test drive an Infiniti EX35 like I did. It is awesome. Also they are running a super lease deal this month on the EX. All wheel drive EX w/ nav and premium package for $349 month.
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Old Jun 24, 2008 | 08:57 AM
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Exclamation thanks, but no thanks.

Originally Posted by sluday
Do yourself a favor, before you buy an RDX go test drive an Infiniti EX35 like I did. It is awesome. Also they are running a super lease deal this month on the EX. All wheel drive EX w/ nav and premium package for $349 month.
hmm, a quick compare on edmunds shows that to get the same features as RDX, I'd have to pay 10k more. I am not in the market for leasing so I don't think that works plus what you got could be regional. The main thing I like about Acura is there are only two packages and the base package has everything I want. Infinity is another jumble of options which I am not really keen on.
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Old Jun 24, 2008 | 09:04 AM
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I think sluday forgot to mention that the $349 deal assumes a $4700 down payment, not to mention "small" things like taxes, license, and the lease being for 39 months instead of 36. I got a deal last week for Tech RDX with $1300 at signing (includes 1st month payment), $469 for 36 months. That includes NYC taxes and license. Overall, I opted for the RDX because it is the least expensive "luxury" small SUV. One more consideration was that every wiseguy wannabe (and his mother) who can barely afford lease payments are buying Lexuses; I don't wanna be another cliche.
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Old Jun 26, 2008 | 02:17 AM
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Originally Posted by af145
I think sluday forgot to mention that the $349 deal assumes a $4700 down payment, not to mention "small" things like taxes, license, and the lease being for 39 months instead of 36. I got a deal last week for Tech RDX with $1300 at signing (includes 1st month payment), $469 for 36 months. That includes NYC taxes and license. Overall, I opted for the RDX because it is the least expensive "luxury" small SUV. One more consideration was that every wiseguy wannabe (and his mother) who can barely afford lease payments are buying Lexuses; I don't wanna be another cliche.
Wrong. Local dealer wanted $3400 at signing for $349 + sales tax per month 39 month for EX35 w/ premium and nav. $440 per month includes 7% sales tax for fully loaded EX which costs $45625.
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Old Jun 26, 2008 | 08:05 AM
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The EX is TINY! It can't compare to the RDX. The EX is for "little people", to be politically correct, and only four of those.
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Old Jun 26, 2008 | 10:21 AM
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Talking

Originally Posted by sluday
Wrong. Local dealer wanted $3400 at signing for $349 + sales tax per month 39 month for EX35 w/ premium and nav. $440 per month includes 7% sales tax for fully loaded EX which costs $45625.

Thank you Mr Infinity Dotcom.
What kind of deal can you get me on a Vespa?
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Old Jun 27, 2008 | 08:46 AM
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Originally Posted by sluday
Wrong. Local dealer wanted $3400 at signing for $349 + sales tax per month 39 month for EX35 w/ premium and nav. $440 per month includes 7% sales tax for fully loaded EX which costs $45625.
"Wrong"? I quoted the Infinity ad. Good for you that you got about $1500 off the advertised amount. Still, you'll be paying about $30 per month than I (if we divide the up-front difference by 36 months). Besides, in 3 years I'll be driving a new car... and you'll be stuck in the 3-year old Infinity clunker for 3 extra months.

Anyway, everyone chooses for himself. I didn't want a car that costs $10K more and is smaller. You like it -- I'm happy for you; just don't try to pop up in all threads and sound like an Infinity salesman.
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Old Jun 27, 2008 | 11:11 AM
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Originally Posted by af145
"Wrong"? I quoted the Infinity ad. Good for you that you got about $1500 off the advertised amount. Still, you'll be paying about $30 per month than I (if we divide the up-front difference by 36 months). Besides, in 3 years I'll be driving a new car... and you'll be stuck in the 3-year old Infinity clunker for 3 extra months.

Anyway, everyone chooses for himself. I didn't want a car that costs $10K more and is smaller. You like it -- I'm happy for you; just don't try to pop up in all threads and sound like an Infinity salesman.

The Infinity add is the National deal and is based on the sticker price. Most people don't know that you can negotiate the price on a lease. If you paid sticker on a lease then you got ripped off. i don't care about 3 months in fact i wanted a 48 month lease but the 39 month was better. i plan to buy the car at the end of the term. The money factor on the lease is a bout 2% which is more than half the lowest finance rate I got and at the end of the term I will write a check to buy the car. I am guessing you are just pulling numbers from you ass again when you say I paid $10000 more. If you get a 2008 RDX that has been sitting on the lot depreciating for almost two years, then yes you can save money. If i got an RDX I would have gotten a 2009 which dealers are only taking off a couple hundred off sticker. If I factor in the sales tax and fees the RDX comes to over $40000. I paid $42000 out the door for the EX. Anyway enjoy your 4 cylinder suv.

I'll be the guy in the V6 blowing past you while you wait for your turbo to spool up.

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Old Jun 27, 2008 | 12:15 PM
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Originally Posted by sluday
The Infinity add is the National deal and is based on the sticker price. Most people don't know that you can negotiate the price on a lease. If you paid sticker on a lease then you got ripped off. i don't care about 3 months in fact i wanted a 48 month lease but the 39 month was better. i plan to buy the car at the end of the term. The money factor on the lease is a bout 2% which is more than half the lowest finance rate I got and at the end of the term I will write a check to buy the car. I am guessing you are just pulling numbers from you ass again when you say I paid $10000 more. If you get a 2008 RDX that has been sitting on the lot depreciating for almost two years, then yes you can save money. If i got an RDX I would have gotten a 2009 which dealers are only taking off a couple hundred off sticker. If I factor in the sales tax and fees the RDX comes to over $40000. I paid $42000 out the door for the EX. Anyway enjoy your 4 cylinder suv.

I'll be the guy in the V6 blowing past you while you wait for your turbo to spool up.

First of all, I did not say that you paid 10000 more. That was the sticker price difference. For the first 36 months, you paid just over 1000 more. I certainly did not pay a sticker on the lease.

If you plan on buying it after a lease, you'll lose big time. E.g., you are out the $600 acquisition fee. Check out all articles about leasing on Edmunds. If I was planning to buy a gas guzzler, I would've just paid cash out of pocket right now. However, buying something that is likely to depreciate like crazy (oil, you know) is unwise, to say the least.

Getting a 2009 model is unwise as well: you'll be paying 3-4 grand extra (1-2 grand on a lease) for a motorized passenger seat!

As far as who will be blowing past who... OK, you may be right. 0-60: RDX 6.8, EX35 6.4. It's a tiny difference in my book, especially on US roads filled with traffic and speed traps. However, look at this:

RDX EX35
Front Legroom 41.8 44.3
Rear Legroom 37.7 28.5 (!!!)
Front Headroom 38.7 38.7
Rear Headroom 38.3 37.7
Front Hiproom 54.4 52.9
Rear Hiproom 53.0 50.0
Front Shoulder Room 58.2 54.8
Rear Shoulder Room 56.3 55.1
Passenger Volume 101 cu.ft. 89 cu.ft.
Interior Cargo Volume 28.8 cu.ft. 18.6 cu.ft. (!)
Above w/Seats Folded 60.6 cu.ft. N/A (!!!)

Like someone above said, EX35 is for small people. Not that I am really big, but the reason I'm moving from Accord to an SUV is to get more space. So -- enjoy your overpriced stationwagon, while I'll get a really cool SUV.
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Old Jun 27, 2008 | 12:54 PM
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Originally Posted by NinjasLuvAcura
hi guys, was in the market for a CR-V and unfortunately I wasn't impressed with it; a friend recommended RDX and DAMN!!! that was awesome (became an Acura diehard overnight). Can't stop thinking about it.

Anyways, due to various reasons (like 3300 washingtons for the upgrade plus tax on it) decided to go for the base over technology package (I am really happy with the configuration plus I have a garmin 650 that I really luv).

Thanks to one of the sticky for addon installations in this forum, I kinda decided to let the dealer install the body guard molding, rear bumper applique, front hood applique, moonroof visor - these are out of my league; I plan to install the mud guards, hidden hitch though; are there any other addons you guys recommend?

Plan to get the weathertech liners as well (my friend who recommended the RDX, drives a TL and he luvs the weathertech liners which I thought weren't that bad).

I have a MDA with WM6 but planning to get the iPhone in july and reading thru all the threads, looks like I might be better off getting the proclip and mounting it near the dash and use the aux-in port. Might sound like a noob question but did any of you try streaming the music over bluetooth or is it used only for HLF?
If you plan to keep your RDX for a long time I would say go for the base. However, if you plan to trade in a couple years the Tech will pay dividends despite the extra $3.3K now. Just my two cents.
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Old Jun 28, 2008 | 09:43 AM
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Originally Posted by Rexorg
If you plan to keep your RDX for a long time I would say go for the base. However, if you plan to trade in a couple years the Tech will pay dividends despite the extra $3.3K now. Just my two cents.
I had my last car for 8 years; if it wasn't a two seater I would have kept it for another 2 years atleast (Toyota Celica). I definitely plan to keep it for 5 years minimum so I did end up with a Base. We bought it last nite:

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Old Jun 28, 2008 | 09:55 AM
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Originally Posted by Rexorg
If you plan to keep your RDX for a long time I would say go for the base. However, if you plan to trade in a couple years the Tech will pay dividends despite the extra $3.3K now. Just my two cents.




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Old Jun 28, 2008 | 04:27 PM
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Gratz NinjasLuvAcura, your car has a great shine. I was into the CRV also until I test drove the RDX. The quality finish and performance is so much better on the RDX. I've only had mine for less than a month and I so need to wash it already. Will do in a couple days.

For EX35 vs RDX, I think each car has its strength over the other. Those who ultimately chose the RDX (majority of the people here) value the larger interior space over the speed and other strengths of the EX. IMHO the RDX is more family oriented (bigger back seats and storage) and that's what I look for in a family SUV. The performance and luxury is just an added bonus that won me over over other SUVs. These other SUVs might be faster or bigger or more luxurious or fuel efficient. But at the end, I find that the RDX suits me the best with the right mixture of size, performance, luxury and price.
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Old Jun 29, 2008 | 09:35 AM
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Originally Posted by HockeyStick
Gratz NinjasLuvAcura, your car has a great shine. I was into the CRV also until I test drove the RDX. The quality finish and performance is so much better on the RDX. I've only had mine for less than a month and I so need to wash it already. Will do in a couple days.

For EX35 vs RDX, I think each car has its strength over the other. Those who ultimately chose the RDX (majority of the people here) value the larger interior space over the speed and other strengths of the EX. IMHO the RDX is more family oriented (bigger back seats and storage) and that's what I look for in a family SUV. The performance and luxury is just an added bonus that won me over over other SUVs. These other SUVs might be faster or bigger or more luxurious or fuel efficient. But at the end, I find that the RDX suits me the best with the right mixture of size, performance, luxury and price.
Thanks; I took the pictures as soon as we came back from the showroom . I wasn't happy with the dealer cleaning it (before delivery) - I can see a lot of spots they missed. The weather in St.Louis has been iffy so far so I'll probably clean it this week. I've been going thru the wash and wax section on this site and man, my head is spinning. I still don't have a definite answer as to what products to get.

My only concern is the paint outside and I have a clay bar I got for my previous car (used only once). I have to check what brand it is but I think I got it on amazon. Second is the leather care but looking at all the forums, I am thinking getting 303 and using it to condition and protect.
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Old Jun 29, 2008 | 10:43 AM
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Nice and congrats on the new car!
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Old Jun 29, 2008 | 11:05 PM
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That's the first red RDX I have seen and it looks really nice. I'm not a fan of red color cars but that color on the RDX I like. Good luck
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Old Jun 30, 2008 | 08:40 AM
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infiniti is notorious for throwing out extreme low ball leases. makes it almost impossible (or the dumbest decision ever) to buy after their lease.

wow im into the red for the RDX...nice choice.
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Old Jun 30, 2008 | 03:30 PM
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Originally Posted by sluday
That's the first red RDX I have seen and it looks really nice. I'm not a fan of red color cars but that color on the RDX I like. Good luck
Thanks! Yeah, it was either the white or the red. Had a black and grey car in the past and wanted get something different this time.
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Old Jun 30, 2008 | 03:42 PM
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[QUOTE=sluday] I'll be the guy in the V6 blowing past you while you wait for your turbo to spool up.

QUOTE]

the ex is a couple 10th's faster. what a blow by. considering the great gap in specs between the ex's engine and the rdx....id call that an underachievement not a blow by. enjoy your $42k+ 2 seater wagon.
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Old Jul 1, 2008 | 11:19 AM
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I really don't understand why people lease cars. They make absolutely no financial sense for most people. I suppose it does allow one to drive a nicer car than they can normally afford though.

I personally consider the EX to be in a higher class than the RDX. It's nicer because it costs MORE. Will someone else be joining this board and saying that their BMW X5 is so much better than an RDX, so we should get an X5 instead?

Just buy what you can afford. I think the RDX is a good value for the price, which can be had for under invoice. Or you can always lease and pretend that you can afford the car your'e driving. (Leasing is a fancy word for "rent".) :-)
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Old Jul 1, 2008 | 11:25 AM
  #24  
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wow i never really seen a red RDX
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Old Jul 1, 2008 | 11:25 AM
  #25  
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sluday: Your numbers don't quite add up. I'm pretty sure most educated people understand how a lease works. It really quite simple. I paid $33800 for my 08 RDX Tech (before TTL). So that makes your EX significantly more expensive than an RDX. Which is fine, as the EX has many features the RDX doesn't.

So you paid $42k for the EX, and most people would be paying approximately $35-36k for an RDX Tech. $7k is a pretty big jump.
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Old Jul 2, 2008 | 12:30 AM
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Originally Posted by schen72
sluday: Your numbers don't quite add up. I'm pretty sure most educated people understand how a lease works. It really quite simple. I paid $33800 for my 08 RDX Tech (before TTL). So that makes your EX significantly more expensive than an RDX. Which is fine, as the EX has many features the RDX doesn't.

So you paid $42k for the EX, and most people would be paying approximately $35-36k for an RDX Tech. $7k is a pretty big jump.
Ok I am going to say this again. I said I was looking to buy an 09 RDX tech or the EX. The two Acura dealers I went to only knocked off a couple hundred on the sticker price on the 09 RDX and they both offered about $2000 less for my trade. This would bring the 09 RDX price at about $39000 w/ trade,taxes and fees. Infiniti was more aggressive with pricing so they got the sale. Also 10000 more miles on the warranty, a few more tech gadgets and a V6 non-turbo engine sweetened the deal. I still like the RDX very much but for me the EX had a few features I wanted that the RDX did not offer.
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Old Jul 3, 2008 | 09:53 AM
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Originally Posted by schen72
I really don't understand why people lease cars. They make absolutely no financial sense for most people. I suppose it does allow one to drive a nicer car than they can normally afford though.
To me, the main advantage of leasing is that you do not have a headache when you get tired of the car. Right now it is very important. Imagine what happens if gas costs $8/gallon in 3 years: you'll have to pay people to take away your RDX. :-) Impossible? Who knows... If the Jews attack the Persians, $5/gallon will seem like a bargain.

Usually, when you go for a manufacturer-sponsored lease, the residual is inflated. A really low finance rate (money factor) also sweetens the deal.

Finally, if the car gets stolen, you are free as a bird.

Oh, and don't start with disadvantages of leasing. I know all of them... but if you drive 7K miles/year, don't customize your car, and want to drive a new car every 2-4 years, leasing DOES make sense.

Hope I answered your question...
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Old Jul 3, 2008 | 09:59 AM
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yea...if you barely drive and like things you couldnt really afford...makes some sense, other than that...money down the toilet w/never ending payments.
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Old Jul 3, 2008 | 11:14 AM
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Of course, selling one's car every 2-4 years is also not considered good financial strategy. The absolute best move to do financially is to buy one's car (preferally in cash or a loan not to exceed 3 yrs) and keep it until it falls apart, which is hopefully at least 10-15 years. When you buy a car, after the first 3-4 years, the depreciation plateaus out, which is also the primary reason leasing makes no sense financially. When you lease, you are constantly paying for the depreciation, but just when the plateau arrives, you have to return the car.

I personally believe leasing has its place, but I don't believe it ever makes financial "sense". It is strictly a matter of convenience. Yes, it's nice to always drive a new car every 2-4 years. Yes, it's nice to always be in warranty. Yes, it's nice to simply return a car rather than sell it yourself. But that convenience costs you.

If I was rich and had money to burn, I'd definitely be leasing. But alas I'm not.
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Old Jul 3, 2008 | 12:04 PM
  #30  
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actually...if u were smart with alot of money, ud buy and be paying off a car with interest accruing from a credit line you would take out, dump into a different type of account earning more rapidly, and let it pay for itself.
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Old Jul 3, 2008 | 12:09 PM
  #31  
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That may not work in the current market climate. When interest rates for CDs and savings accounts were high, that was a possibility. There is also the convenience of never having to worry about car payments. Just pay cash and it's yours. :-)
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Old Jul 3, 2008 | 12:11 PM
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when ur credit score is in the 900's and your car payment is around 1.5.....it works....im obviously talking about some rare, wealthy situations, generous lump sums
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Old Jul 3, 2008 | 12:15 PM
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Ok We all purchased or leased a $33000+ gas guzzling suv. If you are looking to make "good financial sense" then we are are all idiots with the purchase of an RDX, EX or any other luxury suv. A good financial choice would be a base model Corrola or Civic. If you need an suv for space or cargo room then you can get a Saturn, Kia or Hyndai. I am willing to pay a premium for more options and horsepower in return for bad gas mileage and higher payments. While I would not consider myself a wealthy person, I do live comfortably and I do spend more than the average person for cars. I prefer leasing because I get tired of vehicles in a couple years and my cars are always under warranty. Also if (or when) gas hits $6-7 or 8 bucks a gallon in three years, I can easily walk away while buyers are stuck with 2-3 years left of payments in a truck that nobody wants and will get you nothing back on a trade. Even if you just bought your suv a few months ago and try trading it in you will get raped. Leasing has nothing to do with buying a car you can't afford. Yea a 20 year old leasing an M3 for $800 a month is an exception. According to edmunds.com more people lease than finance so it works for more people then financing.
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Old Jul 3, 2008 | 12:38 PM
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Originally Posted by sluday
I am willing to pay a premium for more options and horsepower in return for bad gas mileage and higher payments. While I would not consider myself a wealthy person, I do live comfortably and I do spend more than the average person for cars. I prefer leasing because I get tired of vehicles in a couple years and my cars are always under warranty. Also if (or when) gas hits $6-7 or 8 bucks a gallon in three years, I can easily walk away while buyers are stuck with 2-3 years left of payments in a truck that nobody wants and will get you nothing back on a trade. Even if you just bought your suv a few months ago and try trading it in you will get raped. Leasing has nothing to do with buying a car you can't afford. Yea a 20 year old leasing an M3 for $800 a month is an exception. According to edmunds.com more people lease than finance so it works for more people then financing.
dont think those last few posts were directed at you, chief. just talking in generalities here.

dont kid urself...people who lease all their BMW's, benz etc n so forth...the majority would not be in a position to BUY..car payment would be more than a mtg. Leasing, i like to call it renting, lets u do exactly what u intended, get into something more expensive without bearing the cost of it. the reason why leasing works for more people is cuz FLAT OUT..its costs less per month and thats how the majority of this country lives, month to month, or week to week. Want it all, and dont want to pay for anything. When someone sees a lease payment for a BMW and then sees a payment for BUYING an Accord...guess what
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Old Jul 3, 2008 | 02:18 PM
  #35  
af145's Avatar
Intermediate
 
Joined: Jun 2008
Posts: 34
Likes: 4
Originally Posted by MMike1981
yea...if you barely drive and like things you couldnt really afford...makes some sense, other than that...money down the toilet w/never ending payments.
I don't think I deserve your arrogant tone, mister. Anyway, I can afford to pay CASH for the RDX right now, out of pocket. I paid cash for a new Accord 6 years ago, when the all-new 2003 model was coming out and the dealers were practically giving the 2002's for free. I do not drive to work. The Accord is in great shape; I think it will stay this way for another 5 years. I just got tired of it, OK? I want to drive a nicer car. I don't drive often, but when I do, I want to enjoy it. I also got tired of the limited space in a sedan's trunk.

Yes, changing vehicles every 3 years is not a good strategy from a financial standpoint. You know what? Living in general is not a good strategy from a financial standpoint. One should work 16 hours a day, 7 days a week, never take a vacation, never retire, never watch TV, sleep on a couch at work, use the shower at the work gym... What else? Never get married, never have kids -- that's just money down the toilet!

Once again, the reason I'm leasing is to be sure that the car does not depreciate into the ground in the next 3 years. Given today's situation with gas prices and Persian nuclear reactors, it is a very important consideration.

Do we understand each other now?
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Old Jul 3, 2008 | 03:44 PM
  #36  
brizey's Avatar
Burning Brakes
 
Joined: Apr 2007
Posts: 1,181
Likes: 3
From: DFW
Leasing really makes the most sense if you can do it through a corporation/business in which you are a principle. That lets you take the lease payment out of your management earnings instead of your salary. Trust me, every doctor/lawyer/small business person in the country does it. No amount of wrangling over depreciation, etc. can compete with 28% or more because of the income tax savings. The only trick is you have to own and pay for a vehicle of your own so you can claim you put non-business miles on it.
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Old Jul 3, 2008 | 04:49 PM
  #37  
schen72's Avatar
Three Wheelin'
 
Joined: Jul 2003
Posts: 1,496
Likes: 169
From: San Jose, CA
af145, I don't mean to offend you, but I really don't understand how leasing has anything to do with a car's depreciation. But perhaps it's best to agree to disagree. Some people like to lease. Others don't.

brizey, This is very true, and the only good reason I can think of to lease. The other reason would be if you're stinkin' rich and got money to burn. :-)
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Old Jul 3, 2008 | 04:52 PM
  #38  
cwepruk's Avatar
Pro
 
Joined: May 2007
Posts: 748
Likes: 3
From: Edmonton, Alberta
A lease is nothing more than financing a portion of a car.

It's not throwing your money away since with low interest rates, you are still paying on the principal, but at the end of the lease, you can walk away where quite often trades or even a private sale might not net you any gain or you can buy the car out anyways.

I'm one of those people who is changing cars every 2-4 years and on some of my cars, I would have been better off leasing that buying, but I still typically buy.
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Old Jul 3, 2008 | 06:05 PM
  #39  
af145's Avatar
Intermediate
 
Joined: Jun 2008
Posts: 34
Likes: 4
Originally Posted by schen72
af145, I don't mean to offend you, but I really don't understand how leasing has anything to do with a car's depreciation.
cwerpuk gave a pretty good explanation. If you buy a new car, it starts depreciating right away; you sell it in a few years for a much lower price. A vehicle with bad mileage (like RDX), given rising fuel prices, may depreciate a lot more than the leasing company thinks. Guess what? If you lease, you don't care!

Over the course of the lease, you pay the "assumed" depreciation, i.e., the difference between the selling price and the residual (plus interest). When you return the car, the leasing company is supposed to sell it to someone for the residual price. If it can't, it ain't your problem.

In the lease, you pay the "aquisition fee" of about $600 -- on top of the selling price. On the other hand, like I mentioned before, the residual is often inflated, and the interest rates are artificially low. On the third hand, there may be dealer or customer incentives that do NOT apply to the lease. So, even if you don't drive a lot and don't customize the car, you have to calculate what's cheaper -- buy or lease. For the RDX, the oil prices forced my hand towards leasing.

Apology accepted...
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Old Jul 4, 2008 | 09:32 PM
  #40  
Rexorg's Avatar
Burning Brakes
 
Joined: Jan 2004
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From: Washington DC
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