Leasing

Discussion in 'OT Driven' started by Pringles, Dec 5, 2005.

  1. Pringles

    Pringles New Member

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    I'm a very poor working student. I've bundled up about $10,000. I was wondering if I were to have this car for 6 months is it better that I lease a car? Or buy one?

    I personally would really love to own a g35 or evo and was wondering could I lease one of these cars for 6 months with 10k? How does the leasing process work? If I were to buy a used car I'd grab a 300zx. I'd like to make this choice soon as christmas is coming up and this is my gift to myself.

    thanks,

    rewind
     
  2. Ice Rado

    Ice Rado New Member

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    honestly my parents have always said leasing costs way more in the end no matter which route you take...cuz if you decide not to actually buy the car you spend almost the same as if you would've flat out bought it...and IF you wanna buy it its way more then you would've paid had you just made payments instead of leasing...and leasing has t00 many restrictions most of the time
     
  3. Zimmy76

    Zimmy76 I like my beer like I like my violence, domestic

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    it depends on you really. A lot of people will say leasing doesn't make sense, while others will say it's great.

    I usually buy the car, although I should probably lease as I get rid of cars/trucks every couple years. I should say I've never seen a lease for only 6 months, I think it's usually at least 2 years.

    You asked on how leasing works, so I'm going to assume you know nothing about it. When you lease a car you sign a contract for usually 2-3 years saying you will pay XXX.XX amount of dollars per month. Once your contract runs up(2-3 years is over) you then turn the car back over to the dealership, the dealership will offer the car to you for a lower price, or you can lease another car at that time. You will never own that car during the leasing period, you are basically paying for the deprecation of that car in the time you are driving it. However when leasing they usually limit you to 12K miles per year, and I'm not sure how maintance works as I've never leased a car.

    If you like to get rid of your car every 2-3 years and like driving newer/nicer cars then it would probably be good for you. Leasing will let you drive a newer and nicer car then what you could normally afford. .

    If you tend to get a car and drive it till it just falls apart, it's better to go ahead and buy a car. Usually you can't get into as nice a car when you buy, but once you're done with payments its yours free and clear.

    Now that all that has been stated, you said you were only planing on keeping the car 6 months? Honestly if I were you I'd buy a used car for around 5-7K, keep the rest in the bank. When you decide to get rid of that car in 6 months you will probablly be able to get 4-6K back out of it.
     
  4. Pringles

    Pringles New Member

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    Thanks zimmy for all the info. I only had minimal ideas of how leasing works.

    I thought I might be able to buy a nice car before college, but since there arent 6 month leasings than Ill pass on it. I'm obssesed with cars and the only reason I work is to have a car. I don't really care if Im getting ripped off, I just want to fulfil my goal of working my ass off for the past 2 years.

    After what you said tho I'll look into a used 300zx as it will be more fun to play around with it anyway.
     
  5. quzur

    quzur Active Member

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    I don't understand why you only want a car for six months.
     
  6. Y2kAccord

    Y2kAccord Everything happens for reasons I just dont know

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    I have never seen a 6 month lease.. 12 is the shortest I have seen.

    If you always want a new car every few years, can maintain your car and stay within mileage leasing is more beneficial.

    You can lease a BMW or buy a Honda.. which would you drive if you met criteria above?


    EDIT - Poor college student.. consider insurance and expensive (service is more expensive on higher end cars)
    Get something inexpensive and relaiable now and worry about the G35 when you arent poor
     
  7. drewplusbrig

    drewplusbrig Guest

    i've never heard of anyone leasing an evo, i think you would have a hard time finding a place that would do it

    if you want an evo, finance it, put the 10k down and pay the rest monthly. if 10k is your max, then go with the 300zx that you want.

    do you just want something fun & fast to drive? if so, get a bike. you can afford one, and they're a lot more fun than anything on four wheels
     
  8. Y2kAccord

    Y2kAccord Everything happens for reasons I just dont know

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    Any place will let you lease, they would be stupid not too, dealerships make more money off leasing then they do with regular financing.. care to elaborate why they wouldnt let you lease? You can lease a Ferrari, Porsche, Lambo.. but not an EVO :mamoru:
     
  9. drewplusbrig

    drewplusbrig Guest

    i don't know why, it doesn't make sense to me either, i just know the dealerships here ( specificaly mountain mitsubishi were my friend works ) don't lease evos

    evos retain their value pretty well too, so it would make sense to me for them to lease it and then still be able to sell it for top dollar
     
  10. Kroze

    Kroze Active Member

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    What?
    this guy speaks the truth. you'll regret it later when you mature and realized that money coulda been use on better things than a car.

    i made that mistake 3 years ago. bought a 92 nissan 300zx for $7500 with my life savings. it's retarded.

    now if you have money on the other hand, you can afford to do it. but it doesn't seem so with your situation. so save it and buy yourself a older car and turbo it if it's speed you want. you'll spend less money and gain valuable experience & appreciate your own work.


    the z will kill you for maintenance and you'll have $0 in your bank account.
     
    Last edited: Dec 21, 2005
  11. deviant

    deviant rest your trigger on my finger

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    your parents are stupid (no offense).


    leasing is great if you work the program the way it's set up. most americans change cars every 3 or 4 years, and most car loans are 5 or 6 years. this is why most people are "upside down" when they go to trade their car in (meaning they owe more on it than it's worth). if you change cars that often and don't go that much over your mileage leasing is a great way to drive a better car than you can afford, and you get to keep getting new cars every 3 years or so. :)
     

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