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Did you lease or buy?

  • Leased

    Votes: 21 22.8%
  • Bought

    Votes: 71 77.2%

Did you lease or buy?

8K views 37 replies 25 participants last post by  EvanCRZ 
#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?
 
#6 ·
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:
 
#10 ·
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.
 
#20 ·
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.
 
#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.
 
#17 ·
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:
 
#19 ·
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.
 
#21 ·
I don't really care about the breakdown of the lease payments (finance fees vs. the rest, etc) - I just take it as a total amount paid for the car vs. what you could've sold it for if it belonged to you. It is a gamble since we can't predict what the car will be worth in 2-3 years, but in most cases it costs a lot less to buy and sell than to lease. I swap cars every year or two and 24mo leases are always a lot more of a ripoff than the depreciation hit that I take on some cars.

The flip side is of course time and headaches that it takes to sell cars private party - most people don't know how to do it and don't think it's worth the trouble. I personally like doing it and like the $ that I save by never trading in a car.
 
#24 ·
for the socal-la cr-z owners....what type of lease you guys get? the lowest im able to get is about 1500 down 300 (tax included) a month for 36 months. and thats just the base with automatic, i think the msrp is high 20k or low 21k dont remember. Thanks!
 
#25 ·
I originally intend to lease my base CR-Z CVT and it came down to $268 for 36 months including tax with 0 downpayment. I'm a first time buyer with a co-signer of 668 credit score. But I realized when we were finalizing the deal that I might go over the 12k miles/year limit so I just decided to finance the car for $334/mo. This is in Socal.
 
#29 ·
That is an increably great deal! I cannot imagine that Honda or the dealer is going to make a dime in the long run on this deal considering the 65% residual which will likely be more than market price in 3 years.

You are paying a total of only $8200 over 3 years. On a $22.100 car. Very well done!
 
#30 ·
Buena Park Honda is my dealership and Ty Trieu is my salesman. They have a running promotion of $219 36/mo 0 downpayment for a base CVT. I just called him and he said he has 7 CR-Zs on stock and whenever your ready he'll be there at the dealership. Tell him xtian, the guy who bought premium white last week, sent you. I bought cars from him since his days at Honda Santa Ana but he's still having trouble remembering my name.
 
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