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Did you lease or buy?

  • Leased

    Votes: 21 22.8%
  • Bought

    Votes: 71 77.2%
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Discussion Starter · #1 ·
Just of shear curiosity, did you folks lease or buy your CRZ?

I ended up leasing as it made more sense to me. This is primarily a vehicle that i use for commuting to work and back, to driving to clients' construction sites, driving to seminars, meeting and inspections, etc.

I have another vehicle to use for personal purposes, and the CRZ is 95% business related travel. Plus from my 1099 I can write off the lease payments and my milage gets reimbursed anyway.

So just for interests sake, did you lease or buy?
 

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Buy.

Leasing is not a good option for me due to commute. Janie and I will probably find out in a couple of years how well this car hold up. :rolleyes:
 

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The lease fans - what were the terms?

The numbers that honda.com gives are $376 for 36mo / 12K miles / yr - that's $13,500 for 3 years, so apparently Honda assumes that the car will be worth barely $10K in 3 years with 36K miles on the ODO. I bet we can sell it for more than that.
 

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I leased too. With my old crv trade in, my terms were 3yrs/45000 miles. $181 a month for 31 months. $13,700 residual if I want to buy when lease is up. Figured I'd wait to buy seeing this is the first model year. The 2013 might be even better! :)
 

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Discussion Starter · #16 ·
the results are far from what i expected...i was under the impression that entry level cars in this price range usually get leased since they're cheap to own and are usually not kept for too long but the poll just completely crashed that idea :rolleyes:

when i sold cars about 5 years ago with VW leasing is all that happened on the golf and jetta.
 

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the results are far from what i expected...i was under the impression that entry level cars in this price range usually get leased since they're cheap to own and are usually not kept for too long but the poll just completely crashed that idea :rolleyes:

when i sold cars about 5 years ago with VW leasing is all that happened on the golf and jetta.
LOL....um, that's because Honda's LAST forever!

...unlike VWs :iough:
 

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Just of shear curiosity, did you folks lease or buy your CRZ?

I ended up leasing as it made more sense to me. This is primarily a vehicle that i use for commuting to work and back, to driving to clients' construction sites, driving to seminars, meeting and inspections, etc.

I have another vehicle to use for personal purposes, and the CRZ is 95% business related travel. Plus from my 1099 I can write off the lease payments and my milage gets reimbursed anyway.

So just for interests sake, did you lease or buy?
For a 1099'er, leasing makes sense... but if you can't write it off.. I think leasing is a bad idea.... Zero equity, vs... some equity.....
 

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IMHO lease on a stable brand like Honda is a lot more of a gamble than lease on a Caddy or a VW. I have a feeling that in 3 years a CR-Z will be worth more than $10-12K, especially if you spend an extra week and sell the thing private party.

I remember a story about Caddy Catera back in the day and people who leased it ended up way better off than those who bought it since the thing depreciated a lot quicker than Cadillac expected when they estimated their residual / lease payments.
 

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The lease fans - what were the terms?

The numbers that honda.com gives are $376 for 36mo / 12K miles / yr - that's $13,500 for 3 years, so apparently Honda assumes that the car will be worth barely $10K in 3 years with 36K miles on the ODO. I bet we can sell it for more than that.
You are overlooking the cost of financing in your calculations. On a no money down lease of a CRZ, Honda is not offing the 0% or 1.9% financing, so I think it safe to assume the payment quoted is based on market rate finance of 6-8%. That means $2500 to $3500 of the total of the payments is going towards finance expense. So the 3 year residual value is probably about $11,500 to $12,500 in this example.
 
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