- Oct 28, 1999
- 62,484
- 8,345
- 126
Other than a sunroof, what options doesn't the SE Accord have over the Civic? It's got power everything short of a seat(which the Civic doesn't have) and it's a more comfortable vehicle that costs you $1500 less up front, less a month, and is a 12 month shorter term.
That's an expensive sunroof.
Edit: you can get an Accord EX for $259 a month and $1700 down. Still way better than the Civic deal.
I'm making a stupid decision and am very set on doing so. Give me your opinions withouth being negative.
Because leasing can be useful to get more car than you could afford to purhcase otherwise. It's not financially beneficial (obviously) but it does offer some tangible benefit vs buying a cheaper car (you get to drive around in a BMW).
Leasing a Civic is just stupid.
Viper GTS
- Jul 19, 2001
- 38,572
- 2
- 91
http://automobiles.honda.com/tools/current_offers.asp?Function=new
2007 Accord Sedan 6-cylinder Featured Special Lease
$249.00 per month for 36 months. $1,899.00 total due at signing.
2007 Accord Sedan 6-cylinder Featured Special Lease
$249.00 per month for 36 months. $1,899.00 total due at signing.
mugs
Lifer
- Apr 29, 2003
- 48,920
- 46
- 91
See, that's exactly why I think leasing an expensive car is generally a terrible idea - people do it so they can get more car than they can really afford, but financially it's a terrible decision.
I would tend to agree. Except in certain circumstances, I think leasing most cars is stupid.
But some people like to drive a new car every two years... to each his own.
I do not want an accord, but where are you seeing the ex for that much?
BD2003:
Right i am not loaded so money does matter to me but only up to a point. To be honest i can afford to spend $700 a month on a car prior to insurance etc without it affecting my life or bills in any way other than the other fun i have such as going out, drinking, girls, random shopping, etc, expensive good, and other random spending. Doesn't mean i am going to do it and not just because i am unwilling to change the way i life my life just to own a $700/mo car but also you never know what will happen money wise down the line. But having said that yes i am more comfortable with the thought of paying $250 a month for 10 years over paying $500 a month for 3.5 years while most of you would call anyone crazy for not taking the latter and from a longterm financial standpoint you would be right.
I can call today and have them run numbers for a buy. Even then though i don't many of you see how a civic can cost $20k with tax, title, and so forth lol
Fingolfin269
Lifer
- Feb 28, 2003
- 17,948
- 34
- 91
- Oct 28, 1999
- 62,484
- 8,345
- 126
With an "expensive" car typically comes free maintenance over the life of the lease. You never drop a dime in repairs. Never have to pay for lucrative repair bills out of warranty. Never even have to buy new tires. You just turn in the keys after 3 years and get a new one.
If you have the money, it's quite convenient.
Well then, congratulations on your stupidity. A sucker born every day.
It sounds like a great idea now, but a few years from now, you are going to be regretting this.
Exactly. If you have the money, it's up to you. It's only a completely stupid decision if you're going to put yourself in a long term hole over it. If you got enough money, you can afford to be stupid.
Basically, If you have to ask whether or not to lease, you shouldn't be leasing.
exactly although this is not my plan.
my momis currently leasing a 2006 BMW 325i, she got a great deal on the cars price, put $3800 down, and is paying $420 a month for a 24 month lease. this is her 2nd car she is leasing so her next car should be a buy but she wants to lease cuz yes she gets all maintenance and tires free and she gets bored of cars fast (hence the 24 month lease lol) this is not my plan, just hers.
QFT!
OP: WTF?
Bad lease IMHO. Instead of throwing away $16K in 4 years, why not just get a 2-yr old Civic and own it outright? Those things are almost bullet-proof, and little maintenance is required. It's going to be only 6-yr old after 48 months. If you don't want to keep it then, I'm sure you will be able to sell it for a nice chunk of money. Also, if you decide to go with the stupid lease, what are you going to do when the lease is up in four years? Throw away money again on another lease of a Civic?
Originally posted by: goodoptics
QFT!
OP: WTF?
Also, if you decide to go with the stupid lease, what are you going to do when the lease is up in four years? Throw away money again on another lease of a Civic?
And don't forget to save for the $3k down you are going to need to lease your 2011 civic when you turn in your keys on this one.
That really just doesn't matter. The Civic is not worth $20K, any way you slice it. If you do anything, see if you can get a clearout 06.
You want a good value? Find yourself a clearout 06 Accord. When the 06's were hot sh!t, the Accord Ex's were going for about the price of a loaded Civic simply because people really wanted the Civic's. However the Accord is a nicer car overall, larger of course, and while the engine is larger & rated lower you will get damn near the same gas mileage. You truly have to GRANDMA (we're talking shifting around 2.5K all of the time) to get 30/40MPG out of the Civic, figuring driving 60MPH highway. From everything I've read at DriveAccord.net, you can drive the Accord any way you want and get ~28MPG city and 34MPG+ highway. My gf drives her Civic anyway she wants and gets 25-27MPG city, 33-35MPG highway; not to mention the damn car can't pull worth a SH!T above 80 MPH, and before then it is pretty gutless too.
Everybody here is saying don't get the f-ing car... listen to them.
Since you're hellbent on leasing, here's how your lease breaks down:
They're basically charging you ~$1450 for TL (Tax is calculated separately). Is this higher/lower/about right for how much it will actually cost? You should be able to call your DMV to find out how much it should be. I will say that it's about $800 too high for my state (Nebraska) which is considered to have high personal property taxes relative to the nation (abouth 10th overall...); it's about $1400 too high for Oregon. They have you paying an equivalent APR of 7.32%, which is probably high.
There's not much room to wiggle on the Civic, but a better deal (in Omaha, NE) would look more like this:
Net Cap Cost 17650.00
Adj Residual 10454.60
Total Term Dep 7195.40
Monthly Dep 149.90
Mo Lease Charge 76.11 (6.5% equivalent APR on a loan)
Sales Tax 17.52 (7.75%, correct?)
Total Lease 243.53
If you could get a 36 month lease for the same net cap cost and money factor (which affects the lease charge), and if you could get a residual value of 13068.25, you'd wind up paying 226.77 per month and waste your money for a shorter period of time.
Also make sure there's no disposition fee (due at the end of the lease).
I think you are absolutely crazy for leasing a low-end car 33% past it's warranty period. The dealer will kill you with repairs. Your tires will also probably be shot then, which will require replacement with four matching tires. If you forget this by then (and you will, with your lack of concern for your financial future), they will ding you for four OEM replacements at nearly $200 each. It will probably cost you $2k - $3k just to give them back this car.
Tell them how much you're willing to pay for a 3-year lease ($226) including your $3k down and Title/License/Registration fees. Don't accept any offer above $238. You'll save money now and in the future....
They're basically charging you ~$1450 for TL (Tax is calculated separately). Is this higher/lower/about right for how much it will actually cost? You should be able to call your DMV to find out how much it should be. I will say that it's about $800 too high for my state (Nebraska) which is considered to have high personal property taxes relative to the nation (abouth 10th overall...); it's about $1400 too high for Oregon. They have you paying an equivalent APR of 7.32%, which is probably high.
There's not much room to wiggle on the Civic, but a better deal (in Omaha, NE) would look more like this:
Net Cap Cost 17650.00
Adj Residual 10454.60
Total Term Dep 7195.40
Monthly Dep 149.90
Mo Lease Charge 76.11 (6.5% equivalent APR on a loan)
Sales Tax 17.52 (7.75%, correct?)
Total Lease 243.53
If you could get a 36 month lease for the same net cap cost and money factor (which affects the lease charge), and if you could get a residual value of 13068.25, you'd wind up paying 226.77 per month and waste your money for a shorter period of time.
Also make sure there's no disposition fee (due at the end of the lease).
I think you are absolutely crazy for leasing a low-end car 33% past it's warranty period. The dealer will kill you with repairs. Your tires will also probably be shot then, which will require replacement with four matching tires. If you forget this by then (and you will, with your lack of concern for your financial future), they will ding you for four OEM replacements at nearly $200 each. It will probably cost you $2k - $3k just to give them back this car.
Tell them how much you're willing to pay for a 3-year lease ($226) including your $3k down and Title/License/Registration fees. Don't accept any offer above $238. You'll save money now and in the future....
LOL, why did you bother posting for opinions if you didn't want negative comments ??
Its a stupid idea, everyone have said so.
Not a single person have said its a good idea.
Yet, you still want to to it.
What does this tell you ??
Its a stupid idea, everyone have said so.
Not a single person have said its a good idea.
Yet, you still want to to it.
What does this tell you ??
You ask if this particular deal is good. The people give you a resounding NO answer. If you hell bend on leasing, then find another deal because this one stinks.
if u are leasing, lease a hyundai / some american car which depreciates like crazy.
leasing a honda/toyota is pointless cause there resale value barely goes down.
leasing a honda/toyota is pointless cause there resale value barely goes down.
Frankly, people who finance cars for 72 to 84 months, are no better off than people who lease. You don't own your car....the bank does.
Leasing is a good idea for people who want to turn a car every 3 years, especially, if you are one, who has always had a car payment.
If you are going to lease, never exceed 36 months.
Never put money down on a lease
Stick to your plan, and never buy a lease at the end. (All you have is an out of warranty used car, and normally will have to finance it for too long, to have a reasonable payment)
Leasing can, and does work, for some people.
Leasing is a good idea for people who want to turn a car every 3 years, especially, if you are one, who has always had a car payment.
If you are going to lease, never exceed 36 months.
Never put money down on a lease
Stick to your plan, and never buy a lease at the end. (All you have is an out of warranty used car, and normally will have to finance it for too long, to have a reasonable payment)
Leasing can, and does work, for some people.
Ummm. No.
When you lease, you want to lease a car that has minimal depreciation.
Since your lease payments are essentially depreciation over the lease period plus interest, the less the depreciation, the cheaper the payment.
You always want to lease a car with good resale value (high residual).
original price of car = depreciation over lease period + residual value (market value of the car after the lease period)
If residual is high, then depreciation will be low, then naturally, payments will be low.
- Oct 28, 1999
- 62,484
- 8,345
- 126
In theory yes. But in practice not always. Residual value is only 1/3 of the equation. You still have money factor (interest rate of the borrowed amount) and the capitalized cost (what the car costs) going into the payment.
Some brands simply loan money out cheaper or will set the capitalized cost very low to bring the payments down as an incentive. The residual value % might be worse, but it could still be a cheaper payment than a car with a better one.
yup, my roomate does lots of things without putting much forethought or afterthought to them. hes leasing a nissan versa - civic level - and pays ALMOST as much per month as i do ... and i have twice the car. and after 3 years he will have nothing and i will have nearly fully owned mine
TRENDING THREADS
-
Discussion Zen 5 Speculation (EPYC Turin and Strix Point/Granite Ridge - Ryzen 9000)- Started by DisEnchantment
- Replies: 25K
-
Discussion Intel Meteor, Arrow, Lunar & Panther Lakes + WCL Discussion Threads
- Started by Tigerick
- Replies: 24K
-
Discussion Intel current and future Lakes & Rapids thread- Started by TheF34RChannel
- Replies: 23K
-
-
Facebook
Twitter