[MeanMachine]

It seems to me that most of you bought your 3 out right. Has anyone leased one?

 

[edgaress]

Leased

Yep - leased - three years - 75000km - not sure of new model, so have option of buy-out or mature model in 2007 (or new improved one).

 

[Frank]

Leased, 4 years / 100,000KM

If I put NO money into the car (it's not a lemon and there is no "stupid" problems on the car), then I will consider buying it after the lease if I don't get another 3 at the end of it.

 

[MeanMachine]

True.. Thanks for the responses

 

[M3-GT]

I lease. In 4 years I'm going for the mazdaspeed version.

 

[packpackpack]

Lease here too. 54 months with 15,000 miles a year. Residual at the end will be a good deal too because I'll never put that many miles on it.

Always have the option of ending the lease and buying the car outright or sell to a 3rd party too.

 

[Slalom]

I leased too... 4yr/80,000kms... dunno what i'll do after that, we'll see whats out 4 years from now!

 

[G_Style]

bought it
5 year plan

 

[Labster]

bought it
5 year plan

yep same here. I'm going to buy it out though.

 

[J]

I don't want to sound anti-leasing but...

Leasing gives you fewer options
You may have a lower payment but you end up paying longer (more interest) sometimes for life.
I feel that the M3 will hold it's value so I feel like I can resell it at a good price
If I don't like it I can sell it a year from now (it happened to me already)
I can modify it as I please
I don't know how many kms I will put on it (I may change jobs or get one farther from home)
I can choose my car insurance and get the deductibles that I want

But...

If I get into an accident I have a damaged car
I have higher payments
Leasing is good if you can deduct it on your income taxes
You get less headaches when it's time to return it ...or more if it's been "abused" according to the dealer

I am sure I am forgetting something...

It all depends on you financial situation. Like the old guy in Indiana Jones 3 said: "You have to choose wisely"

J-F

 

[budgy]

4 year finance...hopefully have it paid for by next year!

 

[babyfacedre]

Can any changes be made to the car if its on a lease. Like tinting windows, lowering changing the stereo?

 

[Slalom]

Can any changes be made to the car if its on a lease. Like tinting windows, lowering changing the stereo?

tint isnt a problem, i got my tint rolled into my lease... you can do whatever else you want to the car provided it can be returned to original form without any damage.

 

[Guest]

bought 5 yr plan here... but should be payed off in about 2

 

[edgaress]

It all depends on you financial situation. Like the old guy in Indiana Jones 3 said: "You have to choose wisely"
J-F

In Canada, interest expenses are not deductible from income - so it is ALWAYS less expensive to buy than to lease IF you do not have to finance UNLESS you are one of those incredibly smart investors that can earn a higher after tax percentage income on the incremental capital than the lease percentage. There has to be an easier way of saying this?

The same applies to financing - except that usually the finance rate is lower, so your target return on the incremental capital is lower.

In the US, with interest deductible, then it gets more complicated, depending on the tax bracket you are in. For most folk, though, debt is rarely a good investment, except for real estate. Cars don't appreciate.

So why do I lease? Because it is convenient and because I am one of those wildly optimistic (and wildly unsuccessful) investors.

 

[Frank]

Some guy said he will get the Mazdaspeed 3 version in around 2007-2008... I am thinking about that too, if a Turbo/SC kit is still not available for the 3 at that time.

 

[J]

So why do I lease? Because it is convenient and because I am one of those wildly optimistic (and wildly unsuccessful) investors.

Good one :wink:

J

 

[cowtown]

I lease because I'd rather put my money near term into something that actually makes me money, like my house.

 

[factrzero]

Financed (borrowed) for 3 years to own at 2.8% or so. Yay.

cowtown, I did the same so I could actually afford to save for a house in a few years! Good plan.

 

[dugrant153]

I'm interested in leasing because I find the financing payments really high. Plus, being a full-time student, income is sparse, meaning that 500 dollars CDN payments are still way out of reach.

Anyone else a student that's leasing?