Lease or buy Poll

[petraman]

which leasing would frown upon.

I have no qualms with adding some bolt-ons onto mine, especially since you can remove a JB4 without evidence that it was there (unlike a tune). I'm just saving all of the OEM parts in case I want to return my lease at the end.

 

[dcottrell6]

Did a 3 year lease which was more cost effective for me this time.
I don't put many miles on a car because I live 13 miles from work so a 10k mile lease works fine.
My last 2 cars I bought used. It just depends on the circumstances at the time.

 

[petraman]

so I leased for 5 years expecting to either buy it out at the end or leasing the new G70 once ready..

I'm curious how much the 5 year lease monthly payments are... Would you be willing to share the details of your lease? I didn't know there was such a thing.

 

[Carguy55]

I tend to keep my daily drivers for 6 to 10 years, so leasing has never appealed to me. I suspect the G70 will easily make to past the 6 year mark...
Enjoy,
Carguy55

 

[Mcc]

I tend to keep my daily drivers for 6 to 10 years, so leasing has never appealed to me. I suspect the G70 will easily make to past the 6 year mark...
Enjoy,
Carguy55

I think you need to look at the whole picture before deciding. Whether you plan to keep the car for 10 months or 10 years, if Genesis is going to give you a significant incentive to lease (your overall cost is going to be thousands less) you have to seriously consider why you wouldn’t lease. If you want to own just buy out the lease after a month and you are still ahead thousands. No extra costs (not even sure they would enforce a $350 end of lease fee) Voila! you now own the car!
Look at all the facts and don’t prejudge.

 

[TinsleyC]

Look at all the facts and don’t prejudge.

That was my case, I was on a call with my financial advisor late last year and mentioned wanting to replace my 10 year old car, and that I was planning to spend about $35-40k. I'm not "rolling in the dough" as some might be in here, he suggested I try to get a cheap rate and not touch any investments, as invested money can surely do better than the 1-2% borrowed loan rate. So for that reason I did the lease, as the purchase rate was higher. I went in there prepared to write them a check for the full amount.

 

[Toddasaurus]

Todd:
You said this car was intended to be your project car. You could do whatever modifications you wished, test fit, use for autocross, change parts and so on, which leasing would frown upon.

This is true! Even so, I've kept all my OEM parts in storage for whenever I end up trading in, or selling, my car so I can return it back to stock. If my car were to be in a lease, I certainly would be less motivated to do the same things I've already done to it.

But, with leasing you can still buy out the car anytime before the end of the lease. I've learned through this forum that if you understand all of the incentives and fees associated with the lease, along with buyout, you can actually save money over financing/purchasing the car outright.

 

[canucklehead604]

i bought, but am using 0.9% financing for some of the purchase price, which i got $2k off as a launch promo in late 2018. Genesis also gave me $4k more than any other brand for my trade-in. Genesis CAD has a different purchasing model than the US market.

i've never bought 'new' before. always went with established brands/models and at the 1.5-2 year mark once the original owner took the big hit. then i kept cars 4-8 years and sold privately for top dollar. my cars have always been somewhat rare (they are always 6MT's to start), which limits the market, but since i keep them in near-new condition i always get a premium when i go to sell - usually to an enthusiast who has money to feed his need. dealers will tell me the car is hard to sell, but i prefer to use the 'rare' moniker when i list.

so this time around, i bought a new car, which was a new model with a new brand. smart, right? what could go wrong? ha ha. in reality, i made this choice since i had such a hard time finding a 6MT sedan last time around. i had to search 6+ months and all the way to Maryland for my 6MT G37S sedan - which i had shipped to Vancouver Canada. not wanting to go through that, or compromise on options/colours, i chose to buy the G70 new on my spec.

my plan is to keep the G70 for ~6 years. i'll be coming up on 2 years already by September this year. we'll see how things go. so far i've had no issues with the car, and aside from wanting more power and vented seats, there's no reason i won't make good on my plan. i will likely buy a project car in a year or two which will cure my itch to play around with a toy. this will help prolong the life out of my G70 purchase.

 

[leechri3]

Leased for 3 years solely to get the lease cash; I will most likely buy it out, unless the refreshed G70 is enticing enough.

Same boat, leasing for 3 years and most likely will buy the lease out unless something more enticing comes along.

 

[petraman]

Some of my friends were mocking me for getting a "3-year-long rental car," but I just look at it as a pre-arranged trade in

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[Khynetix]

If you have the money, then buy it if you can live with the car. If you can't

I think you need to look at the whole picture before deciding. Whether you plan to keep the car for 10 months or 10 years, if Genesis is going to give you a significant incentive to lease (your overall cost is going to be thousands less) you have to seriously consider why you wouldn’t lease. If you want to own just buy out the lease after a month and you are still ahead thousands. No extra costs (not even sure they would enforce a $350 end of lease fee) Voila! you now own the car!
Look at all the facts and don’t prejudge.

Best option if you don't have money for mods and dont care about them either. The car is great. I was going to get a Q50, but then I got into a G70 and never looked back.

 

[Aquineas]

I put too many miles on a car to lease :-(. My 2015 already has 122K miles.

 

[Khynetix]

I put too many miles on a car to lease :-(. My 2015 already has 122K miles.

damn man, buy a beater then for daily lol

 

[Dai Uy Ted]

damn man, buy a beater then for daily lol

For a G70 driver, you don't know much about Car Guys...

 

[Starflyer]

I purchase cars but don't plan to keep them forever. Most about 3 years and something new entices me.

I've never leased a car, but wonder how the actual cost works out on a 3 year lease verses paying cash upfront. Lately I've read that used car prices are in the DUMPS. Asuming a person did do a 3 year lease and then bought the car. At the end of say 5 years total, which method would be less, lease for 3 and then buy or buy our right up front, both deals ending up with a 5 year old vehicle.

 

[leechri3]

I've never leased a car, but wonder how the actual cost works out on a 3 year lease verses paying cash upfront. Lately I've read that used car prices are in the DUMPS. Asuming a person did do a 3 year lease and then bought the car. At the end of say 5 years total, which method would be less, lease for 3 and then buy or buy our right up front, both deals ending up with a 5 year old vehicle.

I think the decision is largely affected by the deals and incentives available at the time of purchase/lease. For me, when I leased at the end of Feb., the lease incentives that were being offered were not available when purchasing, which came out to a few thousand dollar savings by leasing for 36 months and then purchasing at the end of the lease, compared to purchasing up front. Also, one thing I did realize is dealerships aren't that excited about all cash purchases. I spoke with about 3 dealerships and no one was really offering me a bigger discount because I was willing to pay all in cash. It's also been 8 years since I last bought a vehicle so...

 

[EdP]

I've never leased a car, but wonder how the actual cost works out on a 3 year lease verses paying cash upfront. Lately I've read that used car prices are in the DUMPS. Asuming a person did do a 3 year lease and then bought the car. At the end of say 5 years total, which method would be less, lease for 3 and then buy or buy our right up front, both deals ending up with a 5 year old vehicle.

I have two different experiences. At the time it seemed to be to be good for the situation.

The first was my company car. The company leased through Avis and we had some choices. Mine was a 1983 Olds Cutlass. At the end of two years we got new cars but we could buy the old one at a good price. I bought mine to become a second car and for my wife. It went to the junk yard in 1997 with the rebuilt engine. Forget the numbers but the purchase price was well below car lot prices.

In 1991 I needed a car, recently change jobs and cash was tight. Buick was offering good deals on the Regal, no down payment. Leased it for 3 years, bought it. Traded it for a 2007 Sonata. Dealer gave me $100 for it too! I put $2 of gas so I could get it there.

I don't know how good the deals were, but not bad and they fit my needs at the time. They were well worn at the end of life

I don't think you can make a blanket statement that one is better than the other, both have benefits. Situations vary. Car buying is not always a rational decision. Most are bought for either the need for transportation, or, just the desire for one that catches your eye and you want it. If sensibility prevailed, many care makes and models would not exist.

 

[TinsleyC]

For me, when I leased at the end of Feb., the lease incentives that were being offered were not available when purchasing, which came out to a few thousand dollar savings by leasing for 36 months and then purchasing at the end of the lease, compared to purchasing up front.

I had the same experience - i figured a cash buy would give me the best offer, but it turned out to be the 3 yr lease.

Maybe at the end of that I can return it and buy a 2 year old 2021 G80.

 

[Khynetix]

For a G70 driver, you don't know much about Car Guys...

I'm a car guy thats owned plenty of JDM cars lol. And I wouldn't put any high mileage on my babies. If its a whatever daily then sure. Put that mileage on a R34? hell no lol. Would buy another EM1, throw some rims and coilovers and have that as a daily for that long commute lol. But hey to each their own~ I plan to keep mine low mileage.

 

[Cgo]

I purchase cars but don't plan to keep them forever. Most about 3 years and something new entices me.

Me too. I like to customize my cars and dont like leases. Plus, I dont like to worry about how many miles I put on the car even though it isn't a daily driver.