Lease ends this year - keep '09 or walk away?

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Old 04-12-2011, 11:49 PM
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if you can afford the 335is, by all means go for it!!! comfort/luxury, several classes ahead of the TSX in terms of performance.
Old 04-13-2011, 12:30 AM
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Originally Posted by MrOtocinclus
My base rent for the '09 tech is $400/month, which after taxes is about $450. The current BMW offer is $509/month before taxes, albeit with a $3300 down payment. I suppose that the word "slightly" is subjective, but I think upgrading to a 335is for $3300 and an extra $100 a month is probably a good value. Again, it's up to the reader to decide whether $3300 is a "bundle".
Apples to oranges comparison. You have to compare similar deals, i.e. no money down. My deal is $373 a month for 36 months (inclusive of taxes) for a TSX tech with $0 down. The current BMW lease offers are for 27 months if memory serves. So with $0 down instead of $3300, that monthly payment goes from $509 to $631. Even at your current $450 payment, still think that's close to the TSX price?


Originally Posted by MrOtocinclus
Definitely makes sense, plus your car is awesome, it would be a shame to remove all the mods on it. Thank you!

Craig-D, I just re-read the thread and saw that your lease is also expiring soon, next month. What have you decided to do with your TSX?
I'm picking up a 2011 6 speed TSX with tech on Friday and my '09 goes back. Considered getting a BMW 3 series, but the fact is I'm getting a TSX tech for less than my '09 base. I couldn't pass up the deal. I just couldn't get past the fact that a comparably equipped 328 was gonna cost $10k more. The 328 is better than the TSX - but not $10k better.
Old 04-13-2011, 11:57 AM
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Originally Posted by Craig-D
I'm picking up a 2011 6 speed TSX with tech on Friday and my '09 goes back. Considered getting a BMW 3 series, but the fact is I'm getting a TSX tech for less than my '09 base. I couldn't pass up the deal. I just couldn't get past the fact that a comparably equipped 328 was gonna cost $10k more. The 328 is better than the TSX - but not $10k better.
What kind of deal did you get a 2011 tech? I was quoted $296/mo for base and $360/mo for tech, both at 12k with 3k down. I suppose that would be about $80/mo more expensive with zero down.

I'm also considering a G25x which I started another thread for. The leasing price points are very similar, performance is similar, plus it has AWD with 100% rear in normal conditions. If you want to complain about the Infiniti, visit that thread!
Old 04-13-2011, 12:06 PM
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my 09' was a lease @ $29k (doesnt include TTL) - $468month (includes taxes) - $800 down

my 11' is a lease @ $26k (doesnt include TTL) - $400 month (includes taxes)- $4000 down

Last edited by defconskylude; 04-13-2011 at 12:15 PM.
Old 04-13-2011, 12:24 PM
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you'll likely have some equity in the car so walk into a 11' like i did
Old 04-13-2011, 01:30 PM
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Originally Posted by defconskylude
you'll likely have some equity in the car so walk into a 11' like i did
This advice coming from a guy who put $4k down on a lease?
Old 04-13-2011, 01:41 PM
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well, he was planning to keep the lease, he mentioned in the other thread
Old 04-13-2011, 01:44 PM
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Originally Posted by ressling
This advice coming from a guy who put $4k down on a lease?
It doesn't matter whether you put down 4k or 0 on a lease. More money down lowers monthly payments, but you end up spending the same amount in the end. The only risk in putting money down up front is the chance something will happen to the car in the first year or so. Otherwise, any interest or savings value by hanging on to that cash is negligible.

I personally like to go middle ground as to not put too too much up front, but still try to lower the monthly payments. It really just comes down to personal preference...
Old 04-13-2011, 02:39 PM
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Originally Posted by ressling
This advice coming from a guy who put $4k down on a lease?
had shitty credit and a baby. so it was a necessity to lower that monthly otherwise id be paying over $500. im even lucky to get another TSX. besides im buying my lease out in 3 years.
Old 04-13-2011, 02:39 PM
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Originally Posted by Icculus
It doesn't matter whether you put down 4k or 0 on a lease. More money down lowers monthly payments, but you end up spending the same amount in the end. The only risk in putting money down up front is the chance something will happen to the car in the first year or so. Otherwise, any interest or savings value by hanging on to that cash is negligible.

I personally like to go middle ground as to not put too too much up front, but still try to lower the monthly payments. It really just comes down to personal preference...
GAP insurance is automatically included with all Acuras
Old 04-13-2011, 05:13 PM
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Originally Posted by Icculus
What kind of deal did you get a 2011 tech? I was quoted $296/mo for base and $360/mo for tech, both at 12k with 3k down. I suppose that would be about $80/mo more expensive with zero down.

I'm also considering a G25x which I started another thread for. The leasing price points are very similar, performance is similar, plus it has AWD with 100% rear in normal conditions. If you want to complain about the Infiniti, visit that thread!
$373/mo. with $0 down and 10k miles a year (but I'll be carrying over 7k unused miles from my '09 TSX). I pick it up Friday. With the trouble in Japan, I doubt that offer can be replicated anytime soon going forward.

I considered the G25 briefly, but for me no manual tranny + no nav = no sale.
Old 04-13-2011, 05:20 PM
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Originally Posted by defconskylude
GAP insurance is automatically included with all Acuras
Gap insurance doesn't cover money that you put down on a lease. If you total the car a few months in after the car has depreciated, that up front money is lost. All GAP insurance does is cover whatever you need to satisfy your lease in full if regular insurance doesn't cover it all. You don't get back what you paid for the car when new, so that's why any capital cost reduction paid up front is lost.
Old 04-13-2011, 05:31 PM
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Originally Posted by defconskylude
had shitty credit and a baby. so it was a necessity to lower that monthly otherwise id be paying over $500. im even lucky to get another TSX. besides im buying my lease out in 3 years.
Not hating. I follow. I had to put $3k down just to reduce the payments, and I do plan on buying out the lease. TSX is a fantastic ride.
Old 04-13-2011, 05:53 PM
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Originally Posted by Craig-D
Gap insurance doesn't cover money that you put down on a lease. If you total the car a few months in after the car has depreciated, that up front money is lost. All GAP insurance does is cover whatever you need to satisfy your lease in full if regular insurance doesn't cover it all. You don't get back what you paid for the car when new, so that's why any capital cost reduction paid up front is lost.
really? i put down $800 almost 2 years ago, totaled it and insurance cut me a check for $5k.
Old 04-13-2011, 10:12 PM
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Originally Posted by defconskylude
really? i put down $800 almost 2 years ago, totaled it and insurance cut me a check for $5k.
Old 04-13-2011, 11:28 PM
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Originally Posted by defconskylude
really? i put down $800 almost 2 years ago, totaled it and insurance cut me a check for $5k.
Well, technically Craig-D is correct. I would be interested to know what the exact circumstances surrounding your situation are. Did you receive the $5k in addition to having your remaining lease payments written off?

The only other thing I can think of is that the market value of a used 2009 TSX is $5k higher than your residual plus remaining lease payments, and it's as if you bought out your car per your lease contract and then sold it on the open market. $5k seems a little high, though. Shoot, if I knew I could make $5k, I'd buy out my '09 now and sell it, too.
Old 04-13-2011, 11:41 PM
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Originally Posted by Craig-D
Apples to oranges comparison. You have to compare similar deals, i.e. no money down. My deal is $373 a month for 36 months (inclusive of taxes) for a TSX tech with $0 down. The current BMW lease offers are for 27 months if memory serves. So with $0 down instead of $3300, that monthly payment goes from $509 to $631. Even at your current $450 payment, still think that's close to the TSX price?
From an absolute mathematical perspective, that's a 40% difference, so no, that's not close to the TSX price.

From a relative, value-based perspective, I would still say that it's not that far off. I would be paying 40% more, but I would feel like I'm getting more than 40% in pleasure and driving experience. But, as you said, this is apples to oranges, I don't think anyone can reasonably compare a TSX and a 335is.

Originally Posted by Craig-D
I'm picking up a 2011 6 speed TSX with tech on Friday and my '09 goes back. Considered getting a BMW 3 series, but the fact is I'm getting a TSX tech for less than my '09 base. I couldn't pass up the deal. I just couldn't get past the fact that a comparably equipped 328 was gonna cost $10k more. The 328 is better than the TSX - but not $10k better.
Congratulations, there are some nice improvements in the '11 over the '09 (especially the nav screen), can't wait for you to get it!
Old 04-14-2011, 08:01 AM
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Can't even compare a TSX to the price of a BMW, let alone an Audi. They're all astronomical no matter how you cut it. Even the G25x is comparable in price to the TSX ($20 more per month on a lease.) Audi and BMW perform better, that's about it.
Old 04-26-2011, 10:22 PM
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Spent some time inside a 2011 Honda Fit Sport today... for such a small car it felt really spacious. I think there's more room in the backseat of the Fit than the TSX. It also felt somewhat familiar: the steering wheel was a similar 3-spoke design, and there were also some elements that were shared with the TSX, such as the paddle shifters, door lock buttons and roof handles. It also has the USB input which is something I like.

In terms of power it's obviously no TSX but it wasn't bad at all. I do mostly city driving and for that purpose the Fit definitely fits the bill (sorry, couldn't help myself).

I was also surprised to see a model that had leather seats. Not sure if that's a real Honda accessory or not. It seemed a little cheap, actually.

It would be nice to get into a Fit and save a bundle. If I did, I'd probably finance it for the long term. I'm dreaming here, but it would be even nicer if there was an Acura version of the Fit, with a slightly nicer interior. To be honest though, if I did get into a Fit the interior would not feel much different from the TSX, other than the leather. There are just so many familiar parts in there.

Overall, a positive experience, and I'm adding the Fit to my short list.
Old 04-27-2011, 09:37 PM
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Originally Posted by MrOtocinclus
Spent some time inside a 2011 Honda Fit Sport today... for such a small car it felt really spacious. I think there's more room in the backseat of the Fit than the TSX. It also felt somewhat familiar: the steering wheel was a similar 3-spoke design, and there were also some elements that were shared with the TSX, such as the paddle shifters, door lock buttons and roof handles. It also has the USB input which is something I like.

In terms of power it's obviously no TSX but it wasn't bad at all. I do mostly city driving and for that purpose the Fit definitely fits the bill (sorry, couldn't help myself).

I was also surprised to see a model that had leather seats. Not sure if that's a real Honda accessory or not. It seemed a little cheap, actually.

It would be nice to get into a Fit and save a bundle. If I did, I'd probably finance it for the long term. I'm dreaming here, but it would be even nicer if there was an Acura version of the Fit, with a slightly nicer interior. To be honest though, if I did get into a Fit the interior would not feel much different from the TSX, other than the leather. There are just so many familiar parts in there.

Overall, a positive experience, and I'm adding the Fit to my short list.
while you are at it why not try the cr-z i think it has a better looking interior than the fit plus it will be great on gas.
Old 04-27-2011, 09:42 PM
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i sat in a cr-z at the recent auto show, and i thought they did a great job with the interior to be honest. this guy speaks the truth!

the new civics? mega disappointment.
Old 04-28-2011, 07:31 AM
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here is the pic of the 2 honda fit vs cr-z


Old 04-28-2011, 09:20 AM
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CR-Z only seats 2 people including the driver. If that's not an issue for MrOtocinclus, then I'd choose CR-Z over Fit. I was actually looking at the CR-Z before I got my TSX...definite contender till I saw that it only sat 2...bummer.
Old 04-28-2011, 01:02 PM
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crz interior looks pretty cool.
Old 04-28-2011, 02:22 PM
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mhmm i agree, crz interior is nice
Old 04-28-2011, 04:58 PM
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Thanks for the suggestions, guys, but I'm not really interested in a CR-Z. It looks nice in and out but it's probably too small for me.

Part of the appeal of the Fit is that the ride seems higher, and it feels like I'm driving a bus. I know, I'm weird, teetering between a TSX, a 335is and a Fit!

Oh, here's the 2011 Fit interior (the one above was an older one, I think):

Old 04-28-2011, 05:06 PM
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M3!
Old 04-28-2011, 05:35 PM
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I'd either keep the TSX, you know and love the car. Or go for a smaller car and save some money for the long term. I think I remember you mentioning you had a fiance or wife (sorry if im mistaken) and i'm sure you'll want a house soon. Of course none of us can tell you what to do, but based on the overall costs with a BMW, Audi or another Acura i'd save the money for now.

PS: The Fit looks pretty cool. The CR-Z not so much.

Matt
Old 04-28-2011, 08:15 PM
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The TSX trumps both Hondas if you ask me. As for advice, coming from a guy who's getting married this fall... I'd say stick with a four door vehicle...
Old 04-28-2011, 08:30 PM
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maybe this is a better fit for you 2012 subaru impreza hatchback.

Old 04-28-2011, 09:36 PM
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haha do u think that the fit is higher because you've been riding in your lowered car?
Old 04-28-2011, 10:20 PM
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Originally Posted by mkeefe
I'd either keep the TSX, you know and love the car. Or go for a smaller car and save some money for the long term. I think I remember you mentioning you had a fiance or wife (sorry if im mistaken) and i'm sure you'll want a house soon. Of course none of us can tell you what to do, but based on the overall costs with a BMW, Audi or another Acura i'd save the money for now.

PS: The Fit looks pretty cool. The CR-Z not so much.

Matt
This is my current mindset (except the house part). It would definitely be nice to save a few hundred bucks every month. I drove a '98 Camry for nearly 10 years and always thought of cars as transportation only. Boy did the TSX change that perception. I'm wondering if I can go back to thinking about cars that way.

Originally Posted by ressling
The TSX trumps both Hondas if you ask me. As for advice, coming from a guy who's getting married this fall... I'd say stick with a four door vehicle...
True, the TSX does trump both Hondas, but at the same time I do like driving new cars, especially while I'm still relatively young. I don't want to be one of those guys who buys a Corvette during my midlife crisis!

Oh, and congratulations on getting married! Coming from a married guy, you're gonna love it. :wink:

Originally Posted by 07wdptl-s
maybe this is a better fit for you 2012 subaru impreza hatchback.
Subarus are nice, and they lease well. Do they still make the WRX? I used to want one of those.

Originally Posted by ed_423
haha do u think that the fit is higher because you've been riding in your lowered car?
It's possible, it's possible.
Old 04-29-2011, 04:12 AM
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you can buy it out and sell it for more
Old 05-02-2011, 07:07 PM
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Originally Posted by sonu_7
you can buy it out and sell it for more
This is actually true due to supply and demand, and the whole situation overseas.
Old 05-03-2011, 12:17 PM
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I think based on the rate at which Japan is rebuilding there will be minimal S/D issues. If not any. Its actually quite amazing how fast it is all coming together.

Any dealers telling you otherwise are trying to of course capitalize on the situation.. as has been covered on this forum a few times.

Matt
Old 05-03-2011, 12:23 PM
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^ my dealer told me they lost an entire shipment. And that's just one dealer in one city...

I know that the situation is getting better, but one needs to understand that supply chain disruptions have a domino/rippling effect.
Old 05-06-2011, 01:08 PM
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Originally Posted by KeithL
My philosophy is to get rid of it unless they make you a very attractive offer to buy it. I suspect you can sell the car for more than they want to buy it, or better yet get a decnt trade on it toward a 2011. I always feel that buying out a lease is more expensive than buying it up front becasue you usually wind up paying more in the end.

I'm certainly no expert, and am new to this whole game, but my boss (rich guy) always leases, and then sells the car at the end of the lease.

From what he explained, you normally can sell the car for a much better value than what the dealer is saying it is worth, so if you sell the car and give the dealer the payoff, there is usually a couple thousand profit.

I might be misunderstanding or missing something though.
Old 05-06-2011, 01:12 PM
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Originally Posted by Nite Flyte
I'm certainly no expert, and am new to this whole game, but my boss (rich guy) always leases, and then sells the car at the end of the lease.

From what he explained, you normally can sell the car for a much better value than what the dealer is saying it is worth, so if you sell the car and give the dealer the payoff, there is usually a couple thousand profit.

I might be misunderstanding or missing something though.
how can he sell a leased car without having title in hand?
Old 05-06-2011, 01:36 PM
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Originally Posted by Nite Flyte
I'm certainly no expert, and am new to this whole game, but my boss (rich guy) always leases, and then sells the car at the end of the lease.

From what he explained, you normally can sell the car for a much better value than what the dealer is saying it is worth, so if you sell the car and give the dealer the payoff, there is usually a couple thousand profit.

I might be misunderstanding or missing something though.
Lot of variables in play, and depends on the situation. I actually just bought mine off the lease today, more than 6 months early. The buyout was at $21.5k and I got such a good interest rate, I couldn't pass it up.

I officially own (well not really, until it's paid off) my '09 TSX now!

Bank holds the title until the car is paid off; that's how the game goes...
Old 05-06-2011, 05:23 PM
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Originally Posted by Nite Flyte
I'm certainly no expert, and am new to this whole game, but my boss (rich guy) always leases, and then sells the car at the end of the lease.

From what he explained, you normally can sell the car for a much better value than what the dealer is saying it is worth, so if you sell the car and give the dealer the payoff, there is usually a couple thousand profit.

I might be misunderstanding or missing something though.
In a nutshell, this is true. The key is how much the individual car is worth at the end of the lease versus what your agreed upon residual is. If it's been taken care of and has low miles (like mine), then selling it to a private party for more than the residual means profit.

On the other hand, there is no guarantee that you'd be able to sell your car for higher than the residual. Perhaps if you got someone to agree to buy the car, then you can in turn buy the car from the lease company, and then sell it to that individual. It's possible for that person to renege after you buy the car, and if that were the case, you'd be SOL and/or have to try and sell it to someone else.

I'm not a big fan of bargaining and selling and all of that stuff, so I'd rather avoid the hassle and just turn the car back in.

Originally Posted by defconskylude
how can he sell a leased car without having title in hand?
I believe Nite Flyte's boss buys the car first, and then sells it, as I explained above.


Quick Reply: Lease ends this year - keep '09 or walk away?



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