Seems like most people are leasing the new RDX
11-17-2018, 08:08 AM
#1
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Seems like most people are leasing the new RDX
My 2007 Civic has just died at 247,000 miles. I'm looking to get a new car in the Honda/Acura family. From reading the forum, it seems like most people here are leasing their 2019 RDXs.
I like to buy my cars, service them myself (usually early), and keep them until they die. What is the consensus on this forum about long term ownership of the new RDX?
I know that some cars like new BMWs are smart leases (due to low residuals), but I'm surprised that so many here seem to be leasing, rather than buying for the long haul. One would imagine that a new Acura would be a wise long term purchase.
I like to buy my cars, service them myself (usually early), and keep them until they die. What is the consensus on this forum about long term ownership of the new RDX?
I know that some cars like new BMWs are smart leases (due to low residuals), but I'm surprised that so many here seem to be leasing, rather than buying for the long haul. One would imagine that a new Acura would be a wise long term purchase.
11-17-2018, 08:22 AM
#2
Drifting
Join Date: Apr 2018
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I buy my cars and keep them 8+ years because that suits me. Leasing does cost more, but, IMO, not so much more that if you want a new car every 3 years and can live within the lease requirements, that is not a bad way to go either.
11-17-2018, 08:42 AM
#3
Instructor
+1 for buying.
My hope is to keep our RDX for a long time, like the Pilot we enjoyed for 13 years. The reality is we may keep it 2 years, or 10, or who knows? I like the freedom of owning it and not being tied to a timetable.
My hope is to keep our RDX for a long time, like the Pilot we enjoyed for 13 years. The reality is we may keep it 2 years, or 10, or who knows? I like the freedom of owning it and not being tied to a timetable.
11-17-2018, 08:49 AM
#4
9th Gear
11-17-2018, 10:27 AM
#7
Burning Brakes
I buy for no other reason (although there are some) than I'm in control of what happens and when it happens. I'm not constrained by any lease agreement as to what I can/cannot do and when.
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11-17-2018, 10:47 AM
#8
If u want a new vehicle every few yrs and need the latest/greatest, leasing may be the way to go..of course you pay for that! If you tend to keep ur vehicle longer,then buy it! Shop around for the best price on an extended warranty if you need some peice of mind. There are 2 dealers mentioned here on this forum that seem to give the best deals on them I have never leased a vehicle as I keep my vehicles for a longer period of time. Friend used to lease, got hit with having to fork over $$$$ at the end as he went over the mileage limit and it wasn't up to the accepted condition when he went to turn it in...One just has to ask themselves..how many miles do you drive and how well do you look after your vehicles.
11-17-2018, 12:10 PM
#9
My 2007 Civic has just died at 247,000 miles. I'm looking to get a new car in the Honda/Acura family. From reading the forum, it seems like most people here are leasing their 2019 RDXs.
I like to buy my cars, service them myself (usually early), and keep them until they die. What is the consensus on this forum about long term ownership of the new RDX?
I know that some cars like new BMWs are smart leases (due to low residuals), but I'm surprised that so many here seem to be leasing, rather than buying for the long haul. One would imagine that a new Acura would be a wise long term purchase.
I like to buy my cars, service them myself (usually early), and keep them until they die. What is the consensus on this forum about long term ownership of the new RDX?
I know that some cars like new BMWs are smart leases (due to low residuals), but I'm surprised that so many here seem to be leasing, rather than buying for the long haul. One would imagine that a new Acura would be a wise long term purchase.
It's been about 5 months since the RDX began production so I'm sure Acura has made changes along the way at this point. But I think a lot of people are waiting till the second year. Though that may not be necessary.
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Tony Pac (11-17-2018)
11-17-2018, 04:09 PM
#13
This is one reason why I don't buy used. SWF may not be exaggerating. Some have the attitude, "It's a lease, who cares about maintenance?"
11-17-2018, 05:54 PM
#14
Instructor
I purchased; my idea is that, if I buy now and pay it off fast... I can buy a new one at half the cost or more (i.e. get the 2022 model or something like that for 20-25k instead of >50k). I'm pretty sure I can sell my current one for a decent price in 3 years time.
I do a pretty good job of maintenance & keeping records, and taking really good care of my cars.
I do a pretty good job of maintenance & keeping records, and taking really good care of my cars.
11-17-2018, 06:32 PM
#15
I've never leased but am considering it this time. I would take good care of the car I leased. Then, either I get a new one three years later that I like better or do a buy-out of my lease and have a used car that I know and love.
11-17-2018, 07:05 PM
#16
Three Wheelin'
I prefer buying new because I can get the trim/color that I want.
I used prefer to buy and keep the car forever, but I think the good life of a car is about 100,000 miles. After that, the cost of maintenance starts to go up with non-routine items needing work. It works out cheaper than a new car for a bit, but the more the miles, the more the chance it will leave one stranded at some point. Additionally, paying a lot for maintenance for an older car still leaves one driving a car that is never fully right because of wear on suspension, engine, interior, etc. At some point it's just not worth paying to maintain it. I speak from experience having owned a 2003 325i from 7 miles to 211K miles.
Leasing became super popular during the ZIRP/QE era (since 2009) when money was cheap, but that party is slowly ending as interest rates move up. I know of many folks on BMW forums that felt they could no longer afford to lease a new BMW at the end of the previous lease because things like the money factor had changed quite a bit since the last time they leased.
Last edited by anoop; 11-17-2018 at 07:18 PM.
11-18-2018, 06:45 AM
#18
I get a new car every 2 years. Before getting my 2019 RDX, my 2017 was the longest car I’d owned at 27 months total. With that being said, I still buy because I can drive as much as I want and maybe I’ll want to keep it longer. I don’t like being “locked in.” Fortunately I’ve never really lost too much ground in regards to equity.
11-18-2018, 08:52 AM
#19
I have a preference towards leasing because I like to change my cars at least every 3 years. But it really depends on the specifics of the lease -- some cars lease very poorly while others do it very well.
11-18-2018, 10:34 AM
#20
Drifting
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My sister in law leases the cheapest, most stripped down Mercedes she can find. My best friend leases the Mercedes E that has most of the stuff he wants that is available when the lease is up.
My sister in law leases because she can’t afford to buy a Mercedes, my friend leases because he likes to drive new, and doesn’t want the hassle of ownership; he can easily buy the car out of pocket, but leasing is more convenient. His lease is always up in the fall, so every three years he drives a brand new car to Florida for the winter, and can drive his other car when he gets back home to keep within the mileage. In his view, nothing beats an MB E class for a long road trip. She never drives her car past the local malls and restaurants.
My sister in law leases because she can’t afford to buy a Mercedes, my friend leases because he likes to drive new, and doesn’t want the hassle of ownership; he can easily buy the car out of pocket, but leasing is more convenient. His lease is always up in the fall, so every three years he drives a brand new car to Florida for the winter, and can drive his other car when he gets back home to keep within the mileage. In his view, nothing beats an MB E class for a long road trip. She never drives her car past the local malls and restaurants.
11-18-2018, 02:42 PM
#21
My sister in law leases the cheapest, most stripped down Mercedes she can find. My best friend leases the Mercedes E that has most of the stuff he wants that is available when the lease is up.
My sister in law leases because she can’t afford to buy a Mercedes, my friend leases because he likes to drive new, and doesn’t want the hassle of ownership; he can easily buy the car out of pocket, but leasing is more convenient. His lease is always up in the fall, so every three years he drives a brand new car to Florida for the winter, and can drive his other car when he gets back home to keep within the mileage. In his view, nothing beats an MB E class for a long road trip. She never drives her car past the local malls and restaurants.
My sister in law leases because she can’t afford to buy a Mercedes, my friend leases because he likes to drive new, and doesn’t want the hassle of ownership; he can easily buy the car out of pocket, but leasing is more convenient. His lease is always up in the fall, so every three years he drives a brand new car to Florida for the winter, and can drive his other car when he gets back home to keep within the mileage. In his view, nothing beats an MB E class for a long road trip. She never drives her car past the local malls and restaurants.
haha
11-19-2018, 09:55 AM
#23
I drive 6-7 thousand miles a year so I purchased my car and I hope to keep my new RDX for 10+ years.
One advantage to leasing is that IF the car is in an accident and there is a Car Fax report (especially if is more than a fender bender), it can make the car much more difficult to sell or trade in. This also can greatly lessen how much you will get for the car when you do sell it or trade it in. This especially sucks if the accident was not at all your fault.
If the car is leased, the insurance fixes it, and then you just give it back at the end of the lease with no extra financial penalty.
One advantage to leasing is that IF the car is in an accident and there is a Car Fax report (especially if is more than a fender bender), it can make the car much more difficult to sell or trade in. This also can greatly lessen how much you will get for the car when you do sell it or trade it in. This especially sucks if the accident was not at all your fault.
If the car is leased, the insurance fixes it, and then you just give it back at the end of the lease with no extra financial penalty.
11-19-2018, 10:16 AM
#24
I have been leasing since the early 1990’s. I always do the basic maintenance. My last lease I purchased the maintenance agreement. Never neglected a car I leased. But you all know when the miles start adding up you need more than just the basics. Tires, brakes, things start to wear out. So leasing makes sense in that regards. Never replaced tires, brakes or anything else before I turned a lease in. I also don’t lease a vehicle with tons of options, after all it’s a rental, I don’t own it.
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