Do you get tired of the MS3 in 3 yrs or 5 yrs?

[Boosted333]

Yup... I really hate it when threads get out of hand too and I apologize for contributing to it and letting it get slightly off topic. But when people talk trash about someone I know and don't have all of the info, I stand up for my friends.

If I can dig up the numbers from when we were researching the BUY vs LEASE deal, I will post up the numbers so you guys can see how we saved money by leasing.... Hopefully it will help someone out.

 

[mckraut]

Yup... I really hate it when threads get out of hand too and I apologize for contributing to it and letting it get slightly off topic. But when people talk trash about someone I know and don't have all of the info, I stand up for my friends.

If I can dig up the numbers from when we were researching the BUY vs LEASE deal, I will post up the numbers so you guys can see how we saved money by leasing.... Hopefully it will help someone out.

But even after saving money on it...doesn't someone else still own the car?

 

[Kain]

Yup... I really hate it when threads get out of hand too and I apologize for contributing to it and letting it get slightly off topic. But when people talk trash about someone I know and don't have all of the info, I stand up for my friends.

Like you said: keyboard cowboys. No need to get all bent-out-of-shape over what someone typed on the innanets. Though I am amused when people get e-butthurt.

 

[Boosted333]

"But even after saving money on it...doesn't someone else still own the car?"

What happens when you sell it after a few years after you bought the vehicle? Someone else owns it.... Who cares who has the title now? I am not paying taxes on it, because "someone else owns the car". That's about a thousand a year right there. BLING....

If, after the lease is up, we decide to buy it, we will... but the way we figured it out, at that time we will have saved about $5,000 compared to if we bought it. If we don't want it, the buy out was decent and it is a no-hassel way of getting out of the vehicle. And mileage is not an issue, we might do 10,000 miles a year if that per vehicle.

 

[mckraut]

"But even after saving money on it...doesn't someone else still own the car?"

What happens when you sell it after a few years after you bought the vehicle? Someone else owns it.... Who cares who has the title now? I am not paying taxes on it, because "someone else owns the car". That's about a thousand a year right there. BLING....

If, after the lease is up, we decide to buy it, we will... but the way we figured it out, at that time we will have saved about $5,000 compared to if we bought it. If we don't want it, the buy out was decent and it is a no-hassel way of getting out of the vehicle. And mileage is not an issue, we might do 10,000 miles a year if that per vehicle.

I guess I don't understand how leases work, but I always thought it was like this...roughly. $5/year for 5 years and after that you own the car. $3/year for 5 years to lease it. If you want to buy it after that, you need to pay an additional $15.

So you saved $5000 by not buying it, but is $5000 greater or less than the buy-out price after the lease is up?

 

[astraelraen]

If you are going to trade in your car every 2 or 3 years and you don't put much down then a lease is the way to go.

If you don't put much down on financing a car by the time you trade it in at 2 or 3 years you will probably owe as much or more than the car is worth due to depreciation. So in effect by financing you are "paying for nothing" because you get no value out of the financed car at trade in.

Also, generally if you finance and put little as a down payment your payments will be generally higher than an equivalent lease, especially if the manufacturer is offering some awesome lease deals.

When I bought my CX7 they were offering a lease of 199 month for 36 months. They were also offering 0% financing for 36 months. In order to finance the car at 199 a month for 36 months I would have had to put down 19,836.

If you keep the purchased car, there is no realization of the "off the showroom loss". Factoring in all cost it is almost always cheaper to buy a car out right with cash or zero financing versus leasing with the option to purchase.

I would say this is the absolute truth if you are going to keep your car for at least 5-7 years. If you are going to switch at <4 then I doubt you'll see much savings.

 

[BOOSTR]

If you keep the purchased car, there is no realization of the "off the showroom loss". Factoring in all cost it is almost always cheaper to buy a car out right with cash or zero financing versus leasing with the option to purchase. The tax structure of CT is perhaps the exception to this.

As long as you're happy with the terms of the contract you entered in to, then that is all that really matters.

 

[astraelraen]

I guess I don't understand how leases work, but I always thought it was like this...roughly. $5/year for 5 years and after that you own the car. $3/year for 5 years to lease it. If you want to buy it after that, you need to pay an additional $15.

With a lease you are just paying for the value of the car that you are using during that X month period plus some interest charge. If you want to buy it at the end of the lease you then can pay or finance the "residual value" of the car. Basically its current market value as decided by Mazda when you signed the lease.

Financing a car you are paying for the entire value of the car over an X month period plus some interest charge.

The only real reason to lease a car is if you trade them in very frequently, there are insanely good lease rates or you have significant business use as you can write off the lease payments.

 

[Boosted333]

"So you saved $5000 by not buying it, but is $5000 greater or less than the buy-out price after the lease is up?"

I just talked to the wife, she and I agreed (from memory) that we are saving about $4k or $5k even with the buy-out price. We figured out all of the payments for both plans and to lease and buy-out ended up being cheaper.

Also this came to mind last night... since we got a gas-guzzling-SUV, in 2.5 more years when the lease is up, if we were to sell the CX-9 - it might be hard to sell with these gas prices. With the lease, just hand them the keys.

 

[mckraut]

"So you saved $5000 by not buying it, but is $5000 greater or less than the buy-out price after the lease is up?"

I just talked to the wife, she and I agreed (from memory) that we are saving about $4k or $5k even with the buy-out price. We figured out all of the payments for both plans and to lease and buy-out ended up being cheaper.

Also this came to mind last night... since we got a gas-guzzling-SUV, in 2.5 more years when the lease is up, if we were to sell the CX-9 - it might be hard to sell with these gas prices. With the lease, just hand them the keys.

Cool. Well good for you, I'm glad that worked out in your favor. I don't ever see a lease being for me, but I guess I can understand why some people would favor them.

 

[Boosted333]

Another benefit for us was this...

We had an Acura TL, and a baby on the way. We wanted the CX-9, but didn't have much to put down besides the trade. So we did this:

we got $18k for the trade-in. We took that $18k, and put $7k in our pocket, $5k went to pay off the TL which we owed, and $11k went down on the CX-9. This allowed us to keep the same car payment that we had on the TL, and we got $7k in our pocket so we could get some extra funds for the baby. We usually look for new cars after 3 years, so with the math working out in our favor, it was a no-brainer.

 

[Boosted333]

Correction... $18k trade, $5k in our pocket, $5k to pay off the car, $8k down. Or something like that... but I screwed up the math in my last post.

 

[robin2660]

Meha11 - this is from my accountant... stop ASSuming, and calling people idiots when you don't know the full story. You don't know what deal I got, what I paid, nothing.... so please stop talking trash about my friend. I also went over the numbers with another person, and they both jived. We are saving money by leasing, others may not without doing the right research.

"oh geez... another keyboard cowboy. LOL Unless he knows the full plan
of you buying the truck after the lease is over, and rate at which you are
paying, he needs to STFU. Additionally, to comment a blind statement that
leases are dumb is assanine. How does he know its not a business expense
for you? I hate people. And to buy a new car and take "drive it off the showroom floor" loss and then make payments is @&*king dumb."

To explain my post ... I deleted my response because I suggested you post the details of the deal you got, which I discovered you did when I turned the page .... (burnout)

 

[iredremix]

man. i'd never trade this car in unless they came out w a non hatch sti!!

 

[Silver Ecstasy]

You typically don't lease a vehicle unless you truely get sick of cars quite often.

But it's a bigger waste of money to lease a foreign vehicle, especially one like the MS3 where it doesn't depreciate near what other vehicles do. It's imported from Japan and there arn't too many built. Limited availability in the future, high demand for practical hatches with decent power. So therefore, buying would be a good investment on this car - hence the reason I did my buy. Cars are never an investment, but sometimes you can work it to your advantage.

I have had alot of cars, and the MS3 is something I never get sick of driving. I love everything about it.

 

[coololddude]

MS3--lease or buy?? Wife--LEASE!!

 

[CamelFilters]

MS3--lease or buy?? Wife--LEASE!!

this thread is hilarious.
I would have to say if the wife is involved, you have to take charge and say you make the decisions. afterall, who's the one wearing the dress, you or your wife?

 

[Andrade08]

My Speed....I paid $22k for it and put $10k down. Bad thing is..............with the Speed I have it for sale right now because I am going through a Divorce and I can not get $18k for it in mint condition with 10,000 miles on it. I have offers of $16,800 and lower..........this car is a real good lease candidate I think because you will never sell it........dealer offered to buy it back from me for $14,500. Trade in value if I purchased another car off them is $18,950. LMFAO!

 

[Silver Ecstasy]

You're trying to sell your car within the same model year. Why would someone buy yours when they can buy a brand new 08? There really isn't much incentive.

So it's not that the MS3 is a bad car to buy and sell, the timing is just all wrong - i'm sure you can mutually agree with that statement in both aspects (car and divorce).

The MS3 will be an amazing car to hold on to, especially with everyone going to smaller more practical vehicles. Not alot of them are worth a damn, but the MS3 is something to be considered.

 

[MS3Buckeye]

The dealer encourages you to lease. This means they are making more money off of you than if you buy. That should be your first indication. My $.02.