Im new here so please bare with me. I have a choice atm to buy or lease an evo IX or MR at invoice price. What would u recommend? I was leaning more towards purchasing the car.... got an apr of 5.25 from the credit union. If I get the MR, Im gonna be stock for a while...... if I get the IX I might be able to do some modd'in quicker. If I lease the vehicle, payments will be lower of course and Ill be able to mod quickly as well. Has anyone gone thru a lease with Mitsu? Any help or advice would be greatly appreciated.



afro

 

Depends on what you want to do. If you want to mod & risk loosing your warranty, then by all means get the GSR. Also if you plan on leasing, you better keep all the old parts because when it comes time to trade it back in, you're going to need to replace everything to stock. You prepared to do that?

 

Lease? I have never heard of anyone lease an evo. How low are the payments? How many miles?

 

i didnt think you could lease an Evo either..

 

i never heard anyone here lease an Evo

 

Buy!!

 

If I were you, I'd buy it. There is certain miles you can have on a lease program. If you go over that after your lease, you pay a certain amount. If i'm not mistaken, it's 35 cents per mile. i can be wrong.

 

Hmmm..... well...i figured most car companys offer a lease option. I checked out the Mitsu website and they do have a "diamond lease" program though Im not sure its available for the evo. Ill double check it. As for the stock parts, I usually keep in case something goes wrong and I have to fall back upon them. I was thinking of buying, just that with the payments around my maximum range, wont be able to mod for a while. Thanks again for the advice.


afros

 

You can lease but look at the payment calculator on the mitsu web site and you will soon see why nobody leases an evo.

 

why is that? I was otld by two dealers that I can lease an Evo IX. I checked the payment calculator, but I didnt get anything. what is it you want us to check?

 

I tried checking thru the mitsu website caculator on leasing... it doesnt let ya...... dont know how saywhen got his figures :/


afros

 

Leasing is always more expensive in the long term. I once figured that the only time leasing would be a good deal if you knew you'd die or go blind after 24/36/39 months and have no need to drive after that. Why?

1) Most leases require a large down payment. A decent credit union can offer you $0 down (down payments aren't a bad thing, but leases don't seem to give you the option).

2) Not really much lower monthly payments. I have not seen a lease schedule that when laid next to a purchase schedule made a compelling argument for leasing being cheaper (if you assume sell the car under both scenarios at lease-end). Maybe it would with extremely short term, >=24 months. Basically you are giving any amount of backend equity right to the lessor. And they like it.

3) Standard leases limit the miles you can put on the vehicle. Seems like that would get aggravating that driving each mile costs you a huge amount.

4) At the end of the lease, you can choose to do one of two things: give it back to the lessor, or payoff the pre-determined price of the car (which is usually higher than market value).

Sadly, leases for cars don't work the way that leases for say office equipment or industrial gear do. Those offer: zero down, free maintenance, and they dispose of the (then-worthless) asset at term end. So in that you really only pay for what you use. Car leases aren't the same way. They look forward to getting that car back, to resell it at high profit. You pay the depreciation, plus a little. Look at the car brands that have leasing pushed the most- they have high resale values. Lessors know the evo can have both a low resale value and high jeopardy of being driven too hard by lessees.

 

Everyone I know that has leased has regretted it.