How many people actually buy the car after the lease is up? I'm thinking of leasing the G37, and then buying the car if I really like it. At least with the lease, I can always ditch it after 2-3 years, but I don't feel like shelling out 40K for a brand new model that is bound to have some flaws and holes.

So, if I lease the G37 (w/premium, navi) for maybe $500/mo total for 36 months, and then buy the car for let's say 24K at the end of the lease, I would pay a total of around $42,000 for the car with full ownership.

From my estimates, a G37 with premium and navi will come out to around $41,000 total, before taxes. So for an additional 1-2K, I could have an option to "try out" the car for 3 years, and then buy it if I want.

What do you guys think???

 

It's up to you. I mean leasing a car is like renting a house.. You're really not doing anything and in the end, you're left with nothing.

 

cant go wrong with a lease imo. Especially if incentivized rates are available

 

I don't see how you could lease this car for $500/mo, with nothing down. Maybe I am missing something. The last car I leased was a 1999 Acura TL at $547/mo for 36 months and that car had a MSRP of around $30K.....

 

When you start paying 6-7 a month you might as well buy the thing. my fully loaded 2003 g35 coupe came in around 41k. w a 3k deposit i paid around 680 a month. why lease when you can buy? Now to be clear.. i'm looking to lease this car if i can put 3k down and keep the payments around six hundred... i've never done a lease.. this will be my first if the monthly is in my budget.

 

^^Remember BM if you total the car(God forbid) you will be out the $3K deposit. It is lost money. You're a smart guy and I'm sure you know this. In Illinois, we pay the full tax, which in my case would be around $3,600. That amounts to another $100 per month on a 36 month lease. Leasing in Illinois is not so good.....

 

With my current car....I walked in without a single penny, and walked out with a car. $34,500 was the full price of the car, TTL was all inclusive, and here in Florida, you pay tax on the monthly payment. I pay $498/month, for 39 months, 36,000 miles. There is no way this car can be had for $500/month with no money down. With no money down and the price of the car being roughly 43K, youre looking at around 675-700/month. With $6K down, I think the G37 can be had for $475-$500/month. Its all dependant on the money factor and the residuals... The whole point of leasing is to NOT keep the car. When you DO decide to keep the car, thats when you lose out. Me myself, Im a fan of leasing because I get bored quickly, and newer and better stuff is always coming out. Gotta stay with the times baby

 

WOW. I cant believe how much you guys pay for your leases. The MSRP on my Nissan was 39k and I pay less then 400 a month with only ~2200 down. My wife just leased a car in May with an MSRP of ~30k with 2k down and all she pays is 300 a month.

I agree, if you're going to end up paying over $500 a month for a 40k car, then you should definetely buy it.

 

i live in florida and am leasing an 07 sedan fully loaded (except 4WAS) for $419/mo after taxes. people keep asking me what my money factor and residual's are. do i find those values on my lease documents? this was my first lease, and to be honest, i didnt even look at those values. (Edit: just found my residual - $21154.95, still dont know where to find the money factor. however looking at edmunds, it says the invoice price of my car with its options is $37528, and i got mine for $37889, guess i did alright.)

personally, i think whether you lease or buy depends on your situation. my situation is that im fresh out of college working at my first real job and would like to have the option to upgrade in 3 years if i feel the need to. if not, i will just buy out the car.

i think if you have the means to do so, and you're in a stable situation, buying is usually a better idea. HOWEVER, on a first year model of a new car, i would probably lease if i were you. you just never know what kinda things will go wrong. and as far as what someone said about losing your downpayment if you total a leased car, you can get your insurance company to cover that in your policy for a fee that isnt terrible as long as you negotiate that ahead of time.

 

$419/mo for how many months? and did you put down a deposit(cap cost reduction)?

There are so many variables with lease that it gets very confusing very fast. Also, new models are less likely to be incentivised as opposed to outgoing models or cars that simply no one wants (ala Mercedes Benz R350)

 

Little known fact as well is that with a lease you have to have a higher minimum insurance on the car than if you get a loan to buy it.

For people 30+ it's only a few $$$ per month extra, but for people under 25 especially it can kill you.

I leased a car in 1992 (when I was 18) only to find out it raised my insurance $160 a month!!! Now if I lease (I'm 33 now), it only raises it about $25 a month.

Make sure you calculate that in whatever costs....

 

Why lease a car? I think the opinion of why lease if it is over 500 a month? That is just plain ol' silly. Also, comparing a car to a house in any way shape or form is just as silly. I know it was brought up in terms of renting, but still. A house rarely ever depreciates. While a car on the other hand, will depreciate the second you roll of the lot. Two years down the road, it will take its biggest hit. Cars are not positive investments. You get a car like this because you like it. NOT because you need it.

So to the first poster, sorry forget your name, if you intend to keep your car for 2-3 years...lease it. On a lease, you are usually paying for depreciation. It works out to be about even, and you do not have to worry about selling the car after the term is up. However, if you want to keep it for years to come, then buy it. You will eventually catch up and build equity in the car.

 

Well said. Its not logical to buy a car new. Once you take it off the lot, the car depreciates by hundreds if not thousands. If you're going to buy, I suggest you buy used. Unless you have that type of money to waste.

 

Anyone mod a leased car?

 

It boils down to how long you will keep the car. Buying a new car and trying to sell it after a couple of years might cost you more money than if you leased it for the same time -- especially since you paid all the taxes initially and have higher finance charges because you are borrowing a greater amount of money.

However, if you will keep the car for a long time, than purchasing makes the most sense (you pay less in interest/finance charges in the long run).

However, if you are going to buy, I would certainly buy a used car. 1-2 years will make a big difference in purchase price, but not in reliability/etc.