My ’05 lease will be up at the beginning of this summer and I’m having trouble deciding what to do next.

My thoughts: I would like to save some money and maybe gain in performance, so I’m considering a Civic SI. I thought about a MazdaSpeed3 or a GTI, but figured I wouldn’t gain much of a savings from those considering their stickers creep towards 30K, likely insurance increase, and I think they’re kinda ugly. However, I’d be missing a lot of the luxury features in an SI, but can get the performance and Navi for a low price, plus whatever changes will come with the ’08 model year.

Next Thought: forget the SI, forget about considering a 2009 TSX because I probably wouldn’t save any $ with that, and going for a leftover car such as a 08 TSX or 07 A4, I always see sweet deals in papers. Regarding another TSX, I’m a little reluctant to lease basically the same car for 6 years in a row; I usually like to try something new. My current lease is $339 for a ’05 TSX 6MT non navi, and I’m hoping to cut that down to around $250-$300/month or less.

Don't get me wrong, the TSX was the best car I've ever had, and I def like it better than most other cars that I've been in.

Any thoughts/suggestions?

 

hmmm i would say step back and even see if you should get a new/different car. If your stable enough and can afford it, if yes, then i would step back and really look for what you WANT in a car or for yourself. After that then its narrowing down the cars =P. Now if you did already took all of that into consideration and ^^above is what you considered then i would get into a different car, just like yourself i like to explore.


My choice i wouldnt mind giving out the luxuries if im gaining the proper performance ;]

 

If you're mainly aiming at an increase in performance and a lower price I'd be looking towards the WRX and Evo. Personally, I found both to be too performance oriented for my tastes. They were fast and fun to be sure, but they just weren't all that comfortable (to me).

 

A car review described the VW GLI as similar to the TSX but more fun to drive. You might check that out. I'd never buy a VW but hey you might.

 

They are (or were) comparatively rare, but the VW Jetta itself was sold in 2.0T form last year also, so there is an opportunity for some cost savings with basically the same performance as either the GTI or GLI.

I loved my Jetta 1.8T, until it got smashed and I bought a TSX.

 

Then there's this.

 

You can always extend your lease a few months with AHFC if you don't find what you want or want to wait for the 09s to come out.

 

My son, who has a 2006 S2000, needed another car to drive to work and when it snows or rains. So he got a 2008 Civic SI. Let me tell you that is one fun car to drive. I can't believe how quick it is and the sound is just great.

Does'nt have all the goodies of the TSX, but more than enough to keep you happy. He got a lease for $325 per month with no money down and taxes in the payments ( A real great deal). Just had to come up with first months payment and paper work stuff (about $65)

He keeps on telling me what a car for the money.

 

That is totally amazing. I vowed never to buy another VW, but if I had the money to burn that would be one hell of a ride.

Why don't you buy the TSX you've leased and keep it for longer? It holds its resale value better than any other car and I'm sure you could buy it after 4 years for less than any of those other cars. It's very reliable too so you probably wouldn't have to worry about it breaking down for at least 4 more years (est.)...

 

Don't think you'd be saying that after seeing the Top Gear review on it.

 

I think a forum member traded his TSX for that 2 door VW.

I also vowed never to buy a VW. Within weeks of learning to drive three words crossed my mind and have rung true through the ages and have become a constant as if to have a place on the periodic table of elements: Bitches Drive Jettas.

 

What is wrong with buying the car? Any car will have issues as it ages. At least the car will be his and his payments will be lower. Then after he decides to get rid of it in 3-4 years he can recoup some money.

I’ll never understand why people lease cars if they can’t write them off for a business. You just are flushing money away.

 

All cars depreciate in value, it doesn't matter if you finance or lease, they all lose value over time. A big portion of the lease payment you make each month goes towards paying the depreciation over the term of the lease. The rest is just interest on the money you borrowed, which you would have to do with a financed vehicle too.

If you finance a car, you don't pay depreciation every month, instead you just take one big hit when you go to sell it. If you want to get a new car every 3 to 4 years, figure out what the depreciation will be on your new vehicle in 3 or 4 years, then divide that amount by 36 or 48 and add it to your monthly payment. Then compare that figure to a lease for the same car.

Leases tend to be a little more expensive for some models, but they can be a lot cheaper too. BMW and Mercedes put crazy high residual values on their cars so they lease out very well, often a much better deal than if you were to buy one straight-up. Where leases can be more expensive is if you put a lot of miles on your car and you don't have a high-mileage lease.

 

Really? I found two on Google but they were brief. Could you post the link?

What did they not like? The electrical and windows failed on the third try like all other VWs?

I'm sure if you run the numbers on a 5-year loan & a 4-year lease & include residual value they are similar... that said there's something that feels wrong to me about paying for something like a car and it never (eventually) being mine. Also, with purchasing you can pay it off early and then it's a better deal - less interest charged.

 

It's not a cut and dry decision... there are many different scenarios where leasing > buying and vice versa...

 

Thanks for all the advice so far, keep it comin! looks like I'll have a lot of options to consider over the next few months.

I didn't know there was a TSX review on Top Gear, I'll have to check that out.

I'm definitely going to lease another car. I live in a city and can't take great care of the car, so I'm not going to buy off the lease or buy new as of yet...

 

The TLs are leasing out quite well right now (here in Michigan) but that will probabley increase your payments. The new '09 TSX lease will be through the roof because Acura has no reason to discount the money factor. I'm waiting for the '09 TL but thats due out Sept-Oct. Definately should stick with Acura, not many people are happy after they change.

 

Oh really?

Hmmmm....

2007 Jetta Buyers: 52% male, 48% female



http://www.jdpower.com/autos/Volkswagen/Jetta/2007

2007 TSX Buyers: 48% male, 52% female



http://www.jdpower.com/autos/acura/tsx/2007

So, the TSX is, by a hair, more of a "girlie" car than the Jetta...

(still pretty much a wash if you ask me)

 

[QUOTE=rb1]Oh really?

Hmmmm....

2007 Jetta Buyers: 52% male, 48% female

2007 TSX Buyers: 48% male, 52% female
QUOTE]

Good point, pretty much a wash with these two.

Besides, I'm not much of a stickler when it comes to choosing cars between "girliness" or "manliness". It's something I don't pay attention to. If I were to go with VW, it would likely be a GTI, 77% male, 23% female.

Anyway, the gender distribution facts don't mean anything to me, I'm going to get a car that I like.

 

Actually, if I were your age, that's the car I would have purchased. The GTI was tops in "fun factor" of the cars I cross-shopped with the TSX. (Surprisingly, the TSX won out over the Audi A4 in my book, even though it has the same engine as the GTI)

Being 44, I had a hard time envisioning myself in a GTI. Even still, I almost tried to pull it off as a "midlife crisis car"...

 

Here are some numbers to show you that a lease is not worth doing....
I'm comparing a TL just because the TSX hasn't been around for 6 years.

The current TL lease is $2000 down and 359x36 ($12,924) months = $14924
You lease another TL after the lease is up add another $14924

Total amount comes to $29,848 for a 6 year lease.

Cost of a TL is $30,806 plus TTL in PA it comes to roughly $32774. At the end of 6 years a 2002 TL with 60k miles is worth $12,395 as a private sale, and you still own the car. So you still save $10k if you sell it vs. leasing.

Unless you like having a new car ever 3 years, you end up paying more on a lease and own nothing. Hope this helps.

 

If you're really looking for a $300 payment, at 6.5% interest and 72 months that's $18,000 to borrow. Want to go 4 years, you're down to around $12,500. So even to get an Si, you're looking at having to bring no small amount of cash to the table. Again without cash, an 08 TSX or A4 is even farther out of the question. Without knowing how much cash you want to throw at this, I don't think your objectives are consistent here - you're considering WAY too much car for what you want to achieve with your payment.

What about just buying your 05? You can always just get a loan for the balance - that *might* get you closer to your payment.

Aside from that, you should really be looking at used cars. A 4-5 year old WRX might get you closer. But consider this: making a move like that means you continue to make payements for a car that's older and has more miles than the one you just had.

 

Your logic is flawed in a couple ways:
1) You're ignoring the finance rate for the purchased TL. If the comparison is "buy a car outright vs. leasing" then obviously not paying interest is going to be cheaper than paying it. I was comparing lease vs finance which is a much more common situation.
2) If you want to compare apples to apples, you'd need to sell the TL every 36 months. The steepest depreciation is in the first few years, so you'd be taking big hits both times.

Getting a new car every 3 years is never a good financial decision, lease, finance, or straight purchase. If you like cars and do want to change it up every 3 or 4 years you're going to pay one way or another.

 

I'm not looking to buy, I'm saving the buying for a different stage in my life and going to stick to leasing for now. I may not even need a car in a couple of years depending on where my career takes me.

Anyway, I'm paying $339 for my 05 TSX, local papers advertise leases for 2007 A4s and 2008 TSXs for less than that (considering there are new models of each due out next year). I'd probably be able to get similar deals on a GTI or A3. However, I'm assuming I'd be paying much less than all of those for a new SI considering the MSRP is about 5 or 6k less.

 

No I was suggesting if you had the full amount to buy the car. Even if you financed it, what are you looking at the life of the loan? If you jumped on a 4.9% promotion for 60 months, and borrowed 30k, the finance charges are still only 3885.60 for the loan, you are still making money and more importantly, you own the car.

 

I didn't say females, I said Bitches, inclusive of Man Bitches. Did you get cut off? Near accident? It was a Jetta.

 

My wife drives a Jetta. No, I'm not offended. She's aggressive behind the wheel at times, but I'm the bitch driver of the family.

So I agree with rb1, most Jetta drivers aren't bitches. Most of the ones I see around here are women that don't realize the Jetta's seat can raise them up, so they are barely peeking over the steering wheel driving in the right hand lane at the limit or 5 under.

 

Actually, I was sitting in a parking lot waiting to turn out into traffic, and a lady smashed into me from behind.

My car, even with frame damage, was still driveable. Hers wasn't.

 

how about a Volvo C30 T5?

 

I have no doubt the C30 is a great car, actually test drove S40s before I got the TSX. I actually think it's kinda small and ugly though

I have time to think about these things, but for now I'm considering a leftover TSX, leftover A4, A3, or Civic Si. Depends on my mood at the time and what deals will be available. I tried to consider VW's, but I really don't like the look of them...