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 have a '99 on a 42 month lease (up in Feb '03) through American Honda Finance (Acura). So far, I have no complaints. I got the car when it was very hot, and waited four months for the Laguna Green, so there was no real negotiating. I did get it for what I wanted per month, and with 15,000 miles a year.
Leasing was the only option for me, because I want a new car every three years, and I use it for business so I get a write off.

 

Between my wife and I, we've leased 5 cars over the last 10 years. Like TLwiz, we liked having new cars every few years. Now that we have 1 child and another on the way, we're re-thinking that strategy.

Leasing is great if you want that new-car look and feel every few years. There are some potential problem areas. You really need to determine how many miles you'll be driving over the lease term. Excess mileage charges can eat you up at the end of the lease if you're not careful. Also, depending upon what source you lease from, the care and upkeep can be difficult. With some companies, stains on seats or carpet (happens easily with kids), door dings, paint scratches, slight cracks in the windshield from a rock on the highway, etc. - All these things have been viewed by some companies as being "not normal wear". It all depends upon the company. When I turned in my 1995 Maxima, two of the rims had been scraped all the way around on the edge while running up on a curb trying to avoid an accident. Nissan Motor Acceptance Corp. didn't charge me any extra for the repair.

I have no direct experience with Acura's leasing arm, as I purchased the only Acura I ever had ('87 Integra). What leasing ultimately does is put you in a nicer car for a lot less money PER MONTH than when you buy it. However, you will have payments forever, or at least until you stop leasing.

Just my 2 cents worth!