Buy or Lease
03-26-2001, 01:41 PM
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Buy or Lease
I've also posted this in the TLS forum:
I've noticed that a few of you have leased your cars (TLs as well as others) in the past. What has been your experience? Under what circumstances would you recommend leasing...or not recommend leasing? I've heard so many horror stories about leasing and I want to investigate EVERY nook and cranny of the leasing business and whether the disadvantages far out weight the advantages. Also, if you have leased a car through Acura's leasing program, I'd especially like to know your past or present experience with them.
I thank you all in advance for your insight and comments.
I've noticed that a few of you have leased your cars (TLs as well as others) in the past. What has been your experience? Under what circumstances would you recommend leasing...or not recommend leasing? I've heard so many horror stories about leasing and I want to investigate EVERY nook and cranny of the leasing business and whether the disadvantages far out weight the advantages. Also, if you have leased a car through Acura's leasing program, I'd especially like to know your past or present experience with them.
I thank you all in advance for your insight and comments.
03-26-2001, 02:25 PM
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Here we go:
1. If you prefer to have new car every 3 or 4 years you better off leasing than dealing with having to sell your car after the term if you buy it.
2. If you drive 12K miles per year or less you can lease without any penalties or premiums, otherwise you are better off buying to save yourself headache.
3. If you are wondering about the cost difference, its minimal, comes out to about $1K over 3 years in favor of financing. You can save $30 per month but get headache when selling the car after 3years.
4. I did lease through Honda Financing, my experience... just as with any other leasing company...
I'd be interested in hearing of what kind of horror stories you heard about leasing...
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1. If you prefer to have new car every 3 or 4 years you better off leasing than dealing with having to sell your car after the term if you buy it.
2. If you drive 12K miles per year or less you can lease without any penalties or premiums, otherwise you are better off buying to save yourself headache.
3. If you are wondering about the cost difference, its minimal, comes out to about $1K over 3 years in favor of financing. You can save $30 per month but get headache when selling the car after 3years.
4. I did lease through Honda Financing, my experience... just as with any other leasing company...
I'd be interested in hearing of what kind of horror stories you heard about leasing...
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Out on parole and on best behavior...
03-26-2001, 02:49 PM
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Might also want to keep in mind how heavily you want to mod your car.
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2001 Silver TL, non-navi, Inspire tails & wood steering wheel, 2 burlwood dash kits & shift knob, TL-S passenger vent trim, Alumapro BP-10 & ZX400TI Phoenix Gold, Python 1500 ESP (remote start, all windows up & down, sunroof closes, prox, etc), factory spoiler & body kit, AEM short ram intake, blue alarm LEDs, Mugen grill, Comptech sways, springs & exhaust, SuperCrystal lugs, black chrome emblems.
On order: 19" Alstadt IVs, 225/35ZR19 Nitto 555s, Apex'i V-AFC, Solaris 9005.
Nate's ride
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"Every man dies, not every man lives."
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2001 Silver TL, non-navi, Inspire tails & wood steering wheel, 2 burlwood dash kits & shift knob, TL-S passenger vent trim, Alumapro BP-10 & ZX400TI Phoenix Gold, Python 1500 ESP (remote start, all windows up & down, sunroof closes, prox, etc), factory spoiler & body kit, AEM short ram intake, blue alarm LEDs, Mugen grill, Comptech sways, springs & exhaust, SuperCrystal lugs, black chrome emblems.
On order: 19" Alstadt IVs, 225/35ZR19 Nitto 555s, Apex'i V-AFC, Solaris 9005.
Nate's ride
------------------
"Every man dies, not every man lives."
03-26-2001, 03:04 PM
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I know many people will disagree with me, but I do not think leasing is a great idea. If you shell out thousands of dollars for something, you might as well have something to show for it later. Lease for 3 to 4 years and you have to give the car back with little to show and possibly a lot more $$$ to lose. Purchase the car and at least you have some equity in something, as well as a vehicle to trade in or sell down the road. Yet, when a car is leased, it has a full warranty for the life of the lease. You want a reliable car though, so hopefully you won't have the problem of breakdowns. Everyone I personally knew who leased did it once because they underestimated the penalties and surcharges involved. BTW, are you a businesswoman? This is one of the few times it is a good idea to lease as you can write off the expenses. Good luck!
<FONT COLOR="#800080" SIZE="1" FACE="Verdana, Arial">[This message has been edited by Polyman on March 26, 2001 @ ]</font>
<FONT COLOR="#800080" SIZE="1" FACE="Verdana, Arial">[This message has been edited by Polyman on March 26, 2001 @ ]</font>
03-26-2001, 03:44 PM
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I know few people who leased and yet I've heard them having a problem... actually I did hear of one...
A leasing company called and told the guy he had to paint the bumper because of scratches... so he went to see the car with their rep... when they got to the car he asked to see the paperwork on when he returned the car, than pointed out that when he returned the car it had 3 miles less than now and all the scratching must've been done during those 3 miles and told them to F**K OFF... they never bothered him again!
If you compare the dollars, I did it before leasing, it comes out to be a $1000 difference over 3 years as I mentioned before... do the math!
And you can argue where you'll get more headaches... when you return it or try to sell it yourself...
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Out on parole and on best behavior...
A leasing company called and told the guy he had to paint the bumper because of scratches... so he went to see the car with their rep... when they got to the car he asked to see the paperwork on when he returned the car, than pointed out that when he returned the car it had 3 miles less than now and all the scratching must've been done during those 3 miles and told them to F**K OFF... they never bothered him again!
If you compare the dollars, I did it before leasing, it comes out to be a $1000 difference over 3 years as I mentioned before... do the math!
And you can argue where you'll get more headaches... when you return it or try to sell it yourself...
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Out on parole and on best behavior...
03-26-2001, 03:45 PM
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No, I'm not a businesswoman (not yet anyway 
). I was just wondering about the aspects of leasing since quite a few people here either has leased in the past or are currently leasing. I was offered a deal (if that's what you want to call it) from the Acura dealership where I purchased my car. When I test drove the TL-S, the salesperson said that he could put me in a 2002 TL-S and I could keep my payments the same. I said, "Whateva." 
When he came back with the figures, he said that my payments would only be $8 more than what I'm paying now and I didn't believe him. I knew there had to be more to it and then he told me it was under the conditions of a 48-month lease. I was like, "I don't think so," considering I've heard about the fees that people have had to pay at the end of their leases, all the different fees, the things that the dealers don't tell you regarding your leasing contract, etc., etc., etc.
It sounds like too much of a headache, especially once you sign the contract, THAT'S IT, YOU'RE STUCK until the end of the lease period. I know that you can write the car off on your taxes if you have a business, but what if you don't? Thus far, leasing sounds like a waste of money.
I guess I'll have to wait until January! Thanks anyway.
<FONT COLOR="#800080" SIZE="1" FACE="Verdana, Arial">[This message has been edited by girldiva00 on March 26, 2001 @ ]</font>
). I was just wondering about the aspects of leasing since quite a few people here either has leased in the past or are currently leasing. I was offered a deal (if that's what you want to call it) from the Acura dealership where I purchased my car. When I test drove the TL-S, the salesperson said that he could put me in a 2002 TL-S and I could keep my payments the same. I said, "Whateva." When he came back with the figures, he said that my payments would only be $8 more than what I'm paying now and I didn't believe him. I knew there had to be more to it and then he told me it was under the conditions of a 48-month lease. I was like, "I don't think so," considering I've heard about the fees that people have had to pay at the end of their leases, all the different fees, the things that the dealers don't tell you regarding your leasing contract, etc., etc., etc.It sounds like too much of a headache, especially once you sign the contract, THAT'S IT, YOU'RE STUCK until the end of the lease period. I know that you can write the car off on your taxes if you have a business, but what if you don't? Thus far, leasing sounds like a waste of money.
I guess I'll have to wait until January! Thanks anyway.
<FONT COLOR="#800080" SIZE="1" FACE="Verdana, Arial">[This message has been edited by girldiva00 on March 26, 2001 @ ]</font>
03-26-2001, 03:50 PM
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Wait until what others have to say about this. I am sure many people have different takes on the matter. If you are responsible enough and want to live a little, then leasing can work -- it allows you to drive a car that you probably couldn't drive otherwise. Personally, I just wouldn't do it because I am in no position to do so. What are you driving now anyways? Is it that bad?
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03-26-2001, 04:11 PM
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Grish and Polyman have good points. You do as well, as you recognize that once you've signed, you're stuck with it.
I've leased two Nissans. Both were 3 year/45k mile deals. I personally wouldnt go any longer than that as you go past your usual warranty period. I had a few fees pop up out of nowhere, like excessive wear & tear. But other than that, the experience wasnt that bad.
I bought my TL because I knew I'd have it for a long time. Like Grish pointed out already, the length of time you plan to drive the car would be a main factor IMO. The quality of car would be another as well. I personally decided not to lease another car unless it was a reputable make, ie: Acura, Lexus, etc...
I've leased two Nissans. Both were 3 year/45k mile deals. I personally wouldnt go any longer than that as you go past your usual warranty period. I had a few fees pop up out of nowhere, like excessive wear & tear. But other than that, the experience wasnt that bad.
I bought my TL because I knew I'd have it for a long time. Like Grish pointed out already, the length of time you plan to drive the car would be a main factor IMO. The quality of car would be another as well. I personally decided not to lease another car unless it was a reputable make, ie: Acura, Lexus, etc...
03-26-2001, 04:18 PM
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Originally posted by modocsot:
Holy $h!t!! I'm now gold! Check out my registration date people, you can tell I just lurk around... No post whoring from me!! 
Holy $h!t!! I'm now gold! Check out my registration date people, you can tell I just lurk around... No post whoring from me!!
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2001 Silver TL, non-navi, Inspire tails & wood steering wheel, 2 burlwood dash kits & shift knob, TL-S passenger vent trim, Alumapro BP-10 & ZX400TI Phoenix Gold, Python 1500 ESP (remote start, all windows up & down, sunroof closes, prox, etc), factory spoiler & body kit, AEM short ram intake, blue alarm LEDs, Mugen grill, Comptech sways, springs & exhaust, SuperCrystal lugs, black chrome emblems.
On order: 19" Alstadt IVs, 225/35ZR19 Nitto 555s, Apex'i V-AFC, Solaris 9005.
Nate's ride
------------------
"Every man dies, not every man lives."
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