Leasing better than buying?? - Page 3 - Mazda3 Forums : The #1 Mazda 3 Forum
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post #21 of 26 (permalink) Old 12-11-2003, 01:56 AM
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Leasing better than buying??

zc1, good points and realistics.
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post #22 of 26 (permalink) Old 12-11-2003, 04:33 PM
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Leasing better than buying??

Thanks cds2060. I think your advice was the most reasonable based on the information that was given, but I just had to present another side of the story. It's my nature

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post #23 of 26 (permalink) Old 12-11-2003, 07:31 PM
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Leasing better than buying??

good argument zc1...i think you made everyone here a better car consumer....especially me

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post #24 of 26 (permalink) Old 12-12-2003, 01:42 AM Thread Starter
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Leasing better than buying??

excellent article zc1 Thanks for the advice.

Here's my question, though. There's a buy out price at the end of the lease, correct? So if I were to buy it out in the end, is it possible to finance that price? (say, 10,000 of the whole 20,000 value?) Or would the dealership want 10,000 right then at that time, no excuse?

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Sooo... when can *I* get a Mazda 3?
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post #25 of 26 (permalink) Old 12-12-2003, 10:18 AM
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Leasing better than buying??

Quote:
Originally Posted by "dugrant153"
excellent article zc1 Thanks for the advice.

Here's my question, though. There's a buy out price at the end of the lease, correct? So if I were to buy it out in the end, is it possible to finance that price? (say, 10,000 of the whole 20,000 value?) Or would the dealership want 10,000 right then at that time, no excuse?
Hi dugrant153. Yes, you could extend the lease or finance the remainder, but I wouldn't encourage doing either. If you'd be looking at one of those options at the end of your lease term then I would suggest that leasing isn't the way to go. My argument was based on buying the car with cash down at the end of the term.

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post #26 of 26 (permalink) Old 12-12-2003, 11:59 AM
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Leasing better than buying??

unless you pick a high residual percent after the lease term, it would be in anyones best interest to buy the car.

Typical residual is 61% + 3 years. Seems like a good deal because your thinking: "2.5 years is half of a typical purchase (5 year), and I will be making payments for 3 years, which is half a year ahead for 11% more."

But in all actuality: When you plan to buy out the lease, the interest rate will go up... being that its a used car now. And the payments will go up at least another $100-150 and most people cant afford the increase so they finance it for, say another 3 years. Now 6 years in the hole wondering when the damn car will be yours.

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