Buying vs Leasing?

JohnsZ · 05-30-2012, 11:19 AM

I'm considering leasing a new 370Z. I've never leased before but have financed other cars. I'm currently financing a 2012 MS3 that I would throw in as trade. I have about 8k equity on the MS3. I drive over 20k miles per year but I plan to buy the Z once the lease is over. Any opinions?

gomer_110 · 05-30-2012, 12:06 PM

The only way leasing makes any sense in my mind is if you're 100% sure you will buy the vehicle after the lease is up. The other catch is that when you buy the car after the lease it needs to be one lump some payment otherwise the interest from the lease and the purchase just make it a waste of money.

Just my

JohnsZ · 05-30-2012, 12:20 PM

Quote:

Originally Posted by gomer_110

The only way leasing makes any sense in my mind is if you're 100% sure you will buy the vehicle after the lease is up. The other catch is that when you buy the car after the lease it needs to be one lump some payment otherwise the interest from the lease and the purchase just make it a waste of money.

Just my

Much appreciated Gomer for the advice

MacLean · 05-30-2012, 12:31 PM

I would buy which gives you more freedom to-do whatever you want with the car.

Bucketlist2012 · 05-30-2012, 12:33 PM

The only way that Leasing makes sense, is if you have a Business that you use the car for.

You can then write off the payments and change cars every few years.

Otherwise a lease is not the way to go..IMO

Chteelers · 05-30-2012, 12:42 PM

+1 buy. If you're worried about payments, get a 1 or 2 yr old model. Might even find a late 2011 model that's brand new (< 500 miles) at some dealers.

kenchan · 05-30-2012, 01:19 PM

if you're asking for money advise, just keep the MS3.. it's a frikken 2012 for crying out loud.

mpp9 · 05-30-2012, 01:27 PM

If you wait and find a manufacturer looking to move product and offer insane incentives. Their money factors, net capitalized costs, and projected residual values can allow for a great deal. If you have the cash to buy it outright at the end of the lease, it often can be the same as financing from the beginning.

Nissan's 299/month lease with 3k down on the Z is a pretty good example. I believe on a base coupe, you're talking about around 33k total spent if you buy it out at the lease end (not finance, cash).

It allows you a lower monthly payment for the time being and you can see if this is a car you'd like to have longterm. If it is, buy it out. If not, turn it in and get the new car on the block.

If you know this is the car for you, their 0% financing for 5 years is too good to pass up. I'd negotiate as far I can under invoice and take that.

PapoZalsa · 05-30-2012, 01:32 PM

Never leased another car in my life, is the biggest waste of money!

Even if you are going to buy it at the end of the lease you will paying way too much at the end which the car is not going to be value at.

Save until you can buy a car, is way much better.

DJ-of-E · 05-30-2012, 01:34 PM

It's a pretty heft additional price to lease compared to just buying outright, but easier if you don't like it.

mpp9 · 05-30-2012, 01:40 PM

Quote:

Originally Posted by PapoZalsa

Never leased another car in my life, is the biggest waste of money!

Even if you are going to buy it at the end of the lease you will paying way too much at the end which the car is not going to be value at.

Save until you can buy a car, is way much better.

You pay tax twice. Buy-out fee. If you have the cash to buy it out right, it's really not a hell of alot extra.

They're projecting the residual value at 19k after 39 months. The next gen. will be out by then so that's a question mark where our car will be at. But after 3 years with mine, I'm still well over 20 on trade value on a base model.

If Nissan wasn't offering 0% for 60 months, I'd do the lease. But they are, so it's the best option to take.

JohnsZ · 05-30-2012, 02:33 PM

Quote:

Originally Posted by mpp9

If you wait and find a manufacturer looking to move product and offer insane incentives. Their money factors, net capitalized costs, and projected residual values can allow for a great deal. If you have the cash to buy it outright at the end of the lease, it often can be the same as financing from the beginning.

Nissan's 299/month lease with 3k down on the Z is a pretty good example. I believe on a base coupe, you're talking about around 33k total spent if you buy it out at the lease end (not finance, cash).

It allows you a lower monthly payment for the time being and you can see if this is a car you'd like to have longterm. If it is, buy it out. If not, turn it in and get the new car on the block.

If you know this is the car for you, their 0% financing for 5 years is too good to pass up. I'd negotiate as far I can under invoice and take that.

Thank you! Great advice

Drex · 05-30-2012, 02:49 PM

i leased my last car, then bought it after the lease was up. never again.

LakeShow · 05-30-2012, 03:17 PM

It only makes sense to buy the car initially rather than lease then buy. That will just cost too much. And 8k negative on any car will increase your payments substantially. The 2012 MS3 is a cool little car also.

mpp9 · 05-30-2012, 03:43 PM

Quote:

Originally Posted by LakeShow

It only makes sense to buy the car initially rather than lease then buy. That will just cost too much. And 8k negative on any car will increase your payments substantially. The 2012 MS3 is a cool little car also.

He has 8k equity in it. You shouldn't buy anything until you're at least even on a vehicle.

Some people don't like the idea of leases. That's fair. But there are certainly advantages to them. I like having a different car every 3-5 years. Have to do your research to see if said lease makes sense.

Hyundai is a perfect example of a car manufacturer just wanting to move product. Dealerships hardly make a thing off their cheaper leases, but get it back in unit bonuses at the end of the month/year.

05-30-2012, 11:19 AM	#1 (permalink)
JohnsZ Enthusiast Member Join Date: Mar 2011 Location: Connecticut Posts: 374 Drives: '09 370Z Tour CY M6 Rep Power: 14	Buying vs Leasing? I'm considering leasing a new 370Z. I've never leased before but have financed other cars. I'm currently financing a 2012 MS3 that I would throw in as trade. I have about 8k equity on the MS3. I drive over 20k miles per year but I plan to buy the Z once the lease is over. Any opinions?

05-30-2012, 12:06 PM	#2 (permalink)
gomer_110 A True Z Fanatic Join Date: Aug 2011 Location: Perrysburg, OH Posts: 17,992 Drives: '11 Nismo #528 GM Rep Power: 36940	The only way leasing makes any sense in my mind is if you're 100% sure you will buy the vehicle after the lease is up. The other catch is that when you buy the car after the lease it needs to be one lump some payment otherwise the interest from the lease and the purchase just make it a waste of money. Just my __________________ '11 370Z Nismo #528 Fast Intentions \| Stillen \| Motordyne \| Uprev \| CSF \| Zspeed \| Z1 Motorsports \| AST \| Swift \| SPC \| SPL \| Whiteline \| Hotchkis \| Bride \| Schroth \| Robispec \| Cusco \| Nismo \| Volk \| Forgestar \| Hoosier \| RJM '17 Titan Bone Stock

05-30-2012, 12:31 PM	#4 (permalink)
MacLean A True Z Fanatic Join Date: Apr 2012 Location: Houston Posts: 1,589 Drives: '12 GM Nismo # 0445 Rep Power: 16	I would buy which gives you more freedom to-do whatever you want with the car. __________________ l Meisterschaft Full Cat-Back Exhaust l F. I. Resonated High Flow Cats l Stillen Gen 3 l M370 Intake Manifold l UpRev l JWT Clutch & Flywheel l ZSpeed HD CSC l Stillen 19 Row Oil Cooler l ZSpeed Powercoated Under Tray l GTSpec: 6, 4, 2 Point Brace l

05-30-2012, 12:33 PM	#5 (permalink)
Bucketlist2012 A True Z Fanatic Join Date: Feb 2012 Location: Northern California Posts: 1,424 Drives: 370Z Touring/Sport Rep Power: 16	The only way that Leasing makes sense, is if you have a Business that you use the car for. You can then write off the payments and change cars every few years. Otherwise a lease is not the way to go..IMO __________________ 2009 Sport/Touring 370Z 1971 Z/28 with coil overs, rushforth's, willwoods, Hotchkis. 4 speed GMC Sierra1500

05-30-2012, 01:32 PM	#9 (permalink)
PapoZalsa A True Z Fanatic Join Date: Nov 2009 Location: Not in Sunny Florida Posts: 6,358 Drives: 16 Nismo w/Tech Pack Rep Power: 4499	Never leased another car in my life, is the biggest waste of money! Even if you are going to buy it at the end of the lease you will paying way too much at the end which the car is not going to be value at. Save until you can buy a car, is way much better. __________________ 2009 370Z MB Base w/Sport Package 6MT Modshack's Custom Air Intakes /3M Clear Bra/ Illuminated Kick Plates / F. I CBE w/12" resonators / EVO-R Front Lip / Rear Hatch Wing / Tein S-Tech Springs /Ilegal Tint in the Rep. of VA/4x20mm Z1 Spacers/ Vinyl Roof/Liquid Carbon Designs

05-30-2012, 12:42 PM	#6 (permalink)
Chteelers Base Member Join Date: Jan 2012 Location: Charlotte Posts: 63 Drives: '11 Nissan 370Z M6 Rep Power: 13	+1 buy. If you're worried about payments, get a 1 or 2 yr old model. Might even find a late 2011 model that's brand new (< 500 miles) at some dealers.

05-30-2012, 01:19 PM	#7 (permalink)
kenchan A True Z Fanatic Join Date: Aug 2009 Location: N/A Posts: 76,801 Drives: N/A Rep Power: 141520	if you're asking for money advise, just keep the MS3.. it's a frikken 2012 for crying out loud.

05-30-2012, 01:27 PM	#8 (permalink)
mpp9 Base Member Join Date: Apr 2009 Location: Pittsburgh Posts: 103 Drives: 2012 sti Rep Power: 16	If you wait and find a manufacturer looking to move product and offer insane incentives. Their money factors, net capitalized costs, and projected residual values can allow for a great deal. If you have the cash to buy it outright at the end of the lease, it often can be the same as financing from the beginning. Nissan's 299/month lease with 3k down on the Z is a pretty good example. I believe on a base coupe, you're talking about around 33k total spent if you buy it out at the lease end (not finance, cash). It allows you a lower monthly payment for the time being and you can see if this is a car you'd like to have longterm. If it is, buy it out. If not, turn it in and get the new car on the block. If you know this is the car for you, their 0% financing for 5 years is too good to pass up. I'd negotiate as far I can under invoice and take that.

05-30-2012, 01:34 PM	#10 (permalink)
DJ-of-E Track Member Join Date: Apr 2011 Location: Garden Grove, CA Posts: 676 Drives: 00 Toyota Celica 040 Rep Power: 15	It's a pretty heft additional price to lease compared to just buying outright, but easier if you don't like it. __________________

05-30-2012, 02:49 PM	#13 (permalink)
Drex Enthusiast Member Join Date: Apr 2011 Location: Maryland Posts: 498 Drives: '11 370z MB 6MT SP Rep Power: 14	i leased my last car, then bought it after the lease was up. never again. __________________ 2011 Nissan 370z \| 6MT \| Magnetic Black \| Sport Package

05-30-2012, 03:17 PM	#14 (permalink)
LakeShow A True Z Fanatic Join Date: Dec 2010 Location: L.I., NY Posts: 5,307 Drives: Everything Rep Power: 25	It only makes sense to buy the car initially rather than lease then buy. That will just cost too much. And 8k negative on any car will increase your payments substantially. The 2012 MS3 is a cool little car also. __________________ \|2013 Audi S4\|Ibis White/Black\|S-Tronic P+\| \|2013 370z\|PearlWhite/Persimmon\|Touring/Sport/Nav\|F.I. CBE 18" CF\| \|Sold\|2011 370z\|Gun Metallic\|Touring/Sport/Nav\|

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