Leasing and buying outright both have their advantages and disadvantges, it all comes down to personal preference really. What's really going to hurt you with a car like this, in either situation, is the insurance you're going to pay. Eventhough you've never been in an accident when the insurance company sees you're 17 and you have a turbo they collectively gasp with concern and thus your rate goes through the roof. However, some boring defensive driving classes should help the pain a bit.

 

If you buy a car worth owning, and treat it well, you can expect a minimum of four to six years of trouble-free ownership (where it's just like owning a new car) -- leasing compares extremely poorly to buying a car and paying it off after three or four years, because the terms, the interest rates, and the 'depreciated' value all are set heavily in favour of the dealer.

OK, how about only fools trust their car dealers completely -- that better?

If you lease a car, then you have absolutely no cushion at the end of the lease, which is why so many people are now stuck in lease after lease after lease -- making marginally higher payments, you end up owning a car, and you can cushion any other financial shocks (such as living in North America in 2008-2009) by just driving the car a bit longer. Heck, if you want a new car after three or four years, you can just buy a new one and keep the old one (assuming you have space for it, and money for insurance), and private sales of even lightly modded vehicles routinely rack up huge premiums over lease-depreciated values (which are a lot more like trade-in values).

[as for taking mods off a car, that's idiotic... being stuck with the same model of car forever, in order to keep reusing mods... beyond foolish! -- besides, used mods are usually worth almost nothing]

 

That kind of stuff I don't worry about. It's not just getting a new car to dodge maintenance and things like that, but to switch it up! Leasing works for me because I like to change cars often. I don't like driving the same thing for 4 years, it's not for me.




Paying it off after 3 or 4 years? After 3 years of financing a 35K car you're still left w/ a lump payment of 13-17K depending. I don't want to outlay that kind of cash, which is why I lease. I just walk away from the car, nothing lost!

Dealers do not create the terms of the lease. The Manufacturer does. But even there, you can always find a better deal because local banks, and credit unions also do leases who have thier own independant research companies to figure out terms and residuals. Just because Mitsubishi has a ****ty lease program, doesn't mean you can't find a steal somewhere else. Knowledge is power.


Couldn't agree more. I don't think that is really the point of conversation, though.

What cushion are you speaking of? If you're smart, you don't put any money down on a lease and you shouldn't when getting a new one. What is the problem here?

Marginally higher payments I also take issue with. Look at my previous example. The difference is about $120-$150 per month! I don't know about you, but that isn't marginal for me. Also, buying a new car after 3 years certainly isn't pragmatic for any average person.

I'm not even sure where you're getting this from, but I agree? Maybe you were referring to my post where I said if I had modded it I'd take them off before returning the lease ? Not sure where you're going here.

Anyways, my point is if you do your research and you can find and evaluate a good lease and can acquire one for the right terms, you shouldn't discard the thought because people tell you to on a message board.

 

Before, I thought leasing sucked.

Now, I think it rules.

Why, u get to pay less insurance every month (35% less) and u dont pay any residual at the end of your payments. The car is yours and that´s it.

At least with the type of leasing I can get where I live.
There are other types of leasings, but the one above, I like it a lot!