What dealership?

 

the point is a lease payment is less than a finance payment, period. there's no argument, and the dealership is york.

 

WESTSIDEBILLY - I base my statment on the fact right now me and my wife are leasing an oulander for 290 a month. Where the "buy payment" would have been in the 400 range if not over . THAT IS MY POINT. Not everyone is interested in looking down the road that far and considering saving 1500-2000 dollars over 3-4 years....if that is the case...why don't you buy your car(evo) outight then...cause financing the thing, sure is stealing your money. You know you could buy the evo outright and save yourself thousands....you know what...you probably can't do that!!!!!.....where you may be able to buy the evo on regualr financing....I cannot.....I need some other form of financing to lower my monthly payment. PERIOD!!!...you ASSUME everyone should just buy a car cause it saves them money.....I could care less if I spend a few thousand more over the course of 4 years. It's not that high of a price to pay for a car like the evo. When I can pocket an extra 150 a month and put it towards....like taking my wife out to dinner. Unlike some of the "obsessed" in here...who have no life but to think about the evo...don't get me wrong...I love the evo...but it is not my motivation in life!!!!...remember it is still a car...ya know a hunk of metal!

 

I don't know about the rest of you, but I drive more than 15000 miles per year. I won't consider leasing for that reason, and for the fact that I intend to keep the car indefinitely, well after it is bought and paid for. In this case, buying the car will end up being cheaper than if I had leased it.
There are many people that lease vehicles that they otherwise can't afford to buy. That doesn't mean you should. Maybe you should buy a cheaper car until your financial situation improves to where you can comfortably buy the Evo. Don't strain your finances just for the latest car.

 

There are many advantages to leasing. Chiefly...

You can get more car for the same payment or the same car for a much lower payment.

You can get out of the car and into another after just a few years without concerns of negative equity and trade value.

It doesn't work for everyone but it will work very well for many. I'm leasing my Galant and am glad I did. I purchased my Spec V and sometimes think I would have been better off leasing it but considering how I may potentially use it...

 

The Evo is not an Outlander, Galant, or Sentra, though. Apples and oranges.

I guess you can do whatever works for you. Just don't tell me you're getting a "great deal" by leasing an Evo for $600/mo instead of buying it for $650/mo (or whatever the terms end up being, and assuming you find a dealer who is willing to lease you an Evo).

 

When you say "they" you are referring to outside banks that do leases, and "they" will probably do Evos as well. Ferrari, Porsche and Lamborghini aren't the ones offerring leases on their own cars. In other words the manufacturers aren't buying them and offering special lease rates on them for the benefit of their customers, some other bank is.

I for one am glad Mitsubishi can deliver all of this performance for under 30 grand and can understand why they don't feel the need or desire to subsidize it further by offering special lease rates. Considering the fact that I think I did all of two leases out of the 100 or so new Mitsubishis I sold last year, I'm not going to be suprised when they don't offer one. That or a Diamond Option Plan either.

 

You forgot the advantage where the dealer (YOU) makes more money off of consumers. Sorry, I had to jab.

The reasons you listed are all fine points; however, none of them apply to me.

You shouldn't lease if you drive significantly more than 12000 miles per year (or whatever the maximum is for your lease).

You shouldn't lease if you want to keep the vehicle for longer than the lease period.

You can lease if you want to continue leasing cars one after another. That way you get to make car payments forever. Isn't that fabulous?

You will need to pay for gap insurance on your leased vehicle. Think about what happens if your car gets totalled and you're upside-down on the value.

There are lease vs. buy calculators all over the web. Please utilize one of these to determine if leasing is really a benefit over buying.

My advice is that if you can't afford to buy a car, but you can afford to lease it, then you should buy a less costly car instead, and wait until your income/debt/credit/rent situations improve to the point where you can comfortably afford a more expensive car.

 

At my dealership I don't make any more money if they lease or if they finance through Mitsubishi, or if they paid cash.

Mitsubishi provides GAP insurance within the payments of either the lease or the DOP/DAP.

Some people consider continued lower payments on a new car are a neccessary evil because they want to drive a new car every three years (or so) and they are always under warranty if they stay in their mileage limits. Sometimes the higher maintenance costs of an older vehicle not under warranty outweigh "always making payments"

 

I think Ru4real said it best

I mean if you re gonna get sick of a car like the Evo, why are u buying it in the first place? this is an enthusiast's type of car you drive for the fun. I mean i'm not saying you should buy because it's the best way to go but i'm thinking that with this car, unless it's leased to be driven on the weekends, there would be no reason to lease it. Most people on here will wanna do it their daily driver. yes, you end up paying less upfront and your monthly payments are lesser, but does that mean you are gonna be willing to let go of the car when the lease is up? ok well maybe you wanna keep leasing for ever, but isn't that a vicious cycle? isn't there going to be a time where u want to stop? Plus yeah there's the possibility of buying after the lease. At that point all i recommend is looking for a proctologist cause it's gonna hurt from all the *** ******* you'll be getting and money you d be losing.


that sounds like the wisest thing to do. In the end just do whatever works for you. I'm not trying to flame anyone but i know i wouldn't wanna be stuck in a leasing cycle and then falling in love with a car i really want to keep.

 

I don't think that any of us are going to get sick of the car but what happens when the EVO 9 or 10 comes out with LCD bla bla bla... and you are stock with a EVO 8 that cost you 30K but now is worth 10K and you still owe 13 to the bank. If you had leased that car you could go to the dealer at the end of your lease term get the new EVO and once again you will be evolved. Of course the idea of paying a car for ever is not nice but hey who is counting.

 

Cool..I know Jake and I got the ship date of the 21st a little while ago. I am the first in line...The first EVO they have coming in is the Blue..which is allll mine

 

btw, I doubt the Evo will depreciate at the same rate as other Mitsu products. Most of the sought after, limited in production, enthusiast cars hold their values much better than their more common stablemates.

So if you make your payments on your loans, and put a good bit down, you should easily be able to keep your loan payoff ahead of the cars depreciated value.

SC~ who's gonna buy, drive 20k per year, then likely sell in a few years....

 

One little detail. In a year or 2 the EVO will not be a limited production car. Any one that wants one will be able to go to the dealer and get one for the best price just like any other car. Also in a year or two the Subaru WRX and the STI will be available making things even worse. Yes I don't think and EVO is going to depreciate as fast as the rest of the Mitsu Line up but in my opinion if you want to keep up with depreciation you better come up with at least 10K for down payment.

 

"One little detail. In a year or 2 the EVO will not be a limited production car. "

And how do you know that? Any proof to back it up?

There are just as many Mitsu contacts that are saying that the production is limited, due to assembly line constraints. and that to increase production by a measurable amount, lots of capital would have to be put out to create another assembly line...and that just isn't a justified expense.

SC~ who gets bugged when people, purposely or not, pass off their opinion as "fact"