Is it better to lease or to buy?
Is it a better offer to lease a new Honda Civic for 160$/month for 24 months and a 2500$ down payment or to buy a similar coupe with a good resell value for $200/month with a 4500$ down payment that s used but only 3 years old ($16000)
Buy.
Doesn't matter, as you're only 16. You can't get either one…
Leasing is only good for people who have excellent credit, like to trade cars every 2-4 years, drive only a normal amount of miles (about 12,000 miles/yr), take good care of their cars, can afford the full-coverage insuance required by a lease, and have a stable lifestyle such that they won't want to end the lease early. This usually excludes many young drivers.
So I'm guessing that leasing is not right for you, which means the used car purchase is a better opttion for you.
Leasing SUCKS… For one reason… You get NOTHING at the end… And you have to start the whole process all over again (down payment, deposits… Cost to get your previously leased vehicle back up to spec)… The COST of INSURANCE for a 16 year old is PROHIBITIVE. Buy a cheap used safe car… When you can… Do not finance… EVER.
In the long run the used car purchase would be best because you would still have a vehicle to drive after it was paid off. A Lease(long term rental) can be good in some instances but the mileage restriction presents problems for many people.
Buy. Why would you put all that money down, make 2year payment. Thats a total of $6340.00 in 2 years just to end up with nothing… I would buy knowing that eventually i will own it.
You've solicited opinion. You have no business taking on any type of debt, especially for a car.
Buy used, lease new.
Leasing, you get a brand new car ever few years, who doesn't want that? As for people who have a problem with not owning, it's in your garage and you drive it. I can if you had to return it at the end of every day.
- When you buy/lease a brand new car, are you able to add things/customize it at the dealer? In 2014 my friend financed a base model Jetta brand new red. However his model came with fog lights and LED turn signals but had hub caps. However, my other friend had a 2014 Jetta as well and had the middle trim and had no fog lights or LED turn signals but had aluminum alloy rims. Can you add things like that to a car? I know at Honda if I wanted Fog lights on the middle trim they would ask me to upgrade entirely to the highest trim which i don't need, I just want the fog lights
- What is a good monthly lease payment for new 2015 Honda CRV exl AWD- 36 month lease/12k miles? What is a good monthly lease payment for new 2015 Honda CRV exl AWD-- 36 month lease/12k miles? thanks for the reply… My credit score is excellent. I referred to monthly payment since its my first time leasing and I not familiar with terms like money factor and residual. I simply look at the down payment and the monthly payment that I have to make per month.
- What is a better lease option for a 2015 Honda Civic EX? DWN: $2000, MTH: $173.91(includes money factor but not tax. Will try to negotiate to $165.00) DWN: $3000, MTH: $145.72(will try to negotiate to $138.00). Both are on a 36 month lease. I'm also thinking about purchasing to buy at the end of the lease. Residual value is $13,188.00. Should I try to negotiate lower monthly payments?
- Should I just buy a Honda civic hatchback LX CVT or lease it? It's pretty inexpensive compared to other cars, but I don't know about wanting to drive it for a long time. How much am I "losing" compared to buying if I lease it? It's around $2000 down and $180~ a month for 36 months + return fee, etc. If I do end up purchasing it at the end of the lease contract, I wouldn t lose as much right? If I do buy I have $4000 for the down and the APR is 2.7-2.99%.