Lease or Buy?

[Cpt]

Ready to pull the trigger on a v8 either w/tech or rspec. I'm thinking a lease is the way to go due to low resale value and the quickly evolving line of Cars that i may want to get in on. Anyone else come to that conclusion.

 

[BacktoHyundaibychoice]

Ready to pull the trigger on a v8 either w/tech or rspec. I'm thinking a lease is the way to go due to low resale value and the quickly evolving line of Cars that i may want to get in on. Anyone else come to that conclusion.

What low resale value? Hyundai guarantees a $$ value 3 years out.

 

[BacktoHyundaibychoice]

Details here:

http://www.hyundaiusa.com/assurance/trade-value.aspx

 

[BacktoHyundaibychoice]

But to answer your question:
I'm in the minority that prefers leasing. And my '09 Genesis was the first lease that had positive equity at the end, over $4000 of value over purchase price. That, combined with aggressive dealer pricing, convinced me to roll into the Equus.
I'm sure others will offer differing opinion.

 

[sandy]

But to answer your question:
I'm in the minority that prefers leasing. And my '09 Genesis was the first lease that had positive equity at the end, over $4000 of value over purchase price. That, combined with aggressive dealer pricing, convinced me to roll into the Equus.
I'm sure others will offer differing opinion.

Exactly my experience rolling from '10 Genesis to Equus yesterday. If you drive 12-15k miles/yr. and don't want to keep a car more that 3 years, leasing is a good way to go.

 

[Corellian Corvette]

I buy classic cars and lease new ones.

There isn't a wrong decision. If you aren't going to go over the miles, don't want to modify the car, or get bored easily, leasing is the way to go.

If you drive a lot, want to customize, or plan on keeping the car - then buy.

It's only dumb if your behavior matches one option and you choose the other.

In my case, we bought my wife's Sonata. She keeps cars and drives more then me. It's unlikely she'll want a new car before it's paid off.

For my R-spec, I leased. I get bored quickly, and will either want to upgrade of get out of it. If the car is worth more at the end I make money, if it's worth less or is a lemon it's not my problem win-win for me.

Also - the Huyndai guarantee really doesn't mean much. Not only does it require you to purchase another new Hyundai, but also requires you to finance through Hyundai. HMF was several points higher then both our pre-approved bank loan AND the other financing options available through the dealership. So you'll pay a premium in financing which could actually offset the trade in difference depending on rates...

 

[BacktoHyundaibychoice]

Exactly my experience rolling from '10 Genesis to Equus yesterday. If you drive 12-15k miles/yr. and don't want to keep a car more that 3 years, leasing is a good way to go.

And congrats on the Equus!

 

[Jimmmmbo!]

I buy classic cars and lease new ones.

There isn't a wrong decision. If you aren't going to go over the miles, don't want to modify the car, or get bored easily, leasing is the way to go.

If you drive a lot, want to customize, or plan on keeping the car - then buy.

It's only dumb if your behavior matches one option and you choose the other.

In my case, we bought my wife's Sonata. She keeps cars and drives more then me. It's unlikely she'll want a new car before it's paid off.

For my R-spec, I leased. I get bored quickly, and will either want to upgrade of get out of it. If the car is worth more at the end I make money, if it's worth less or is a lemon it's not my problem win-win for me.

Also - the Huyndai guarantee really doesn't mean much. Not only does it require you to purchase another new Hyundai, but also requires you to finance through Hyundai. HMF was several points higher then both our pre-approved bank loan AND the other financing options available through the dealership. So you'll pay a premium in financing which could actually offset the trade in difference depending on rates...

Very well described. Here's a couple of other points:

If you lease you get to test the car out to determine if you want a long term commitment with it. (Plenty of opportunities for jokes here. )

At the outset, it may be more expensive than buying, but if the car is upside-down at lease end (car worth less than buyout price) you can always negotiate with the lender on the buyout price. They would much rather have you buy the car out from them than to have to turn it over themselves.

 

[sandy]

And congrats on the Equus!

Thanks. One of the nicest things about the Equus is the 5 year free valet maintenance; no need to visit the dealership where one might to have to sit next to a Genesis owner.

 

[BBQ Bandit]

Thanks. One of the nicest things about the Equus is the 5 year free valet maintenance; no need to visit the dealership where one might to have to sit next to a Genesis owner.

Harrumph, harrumph, harrumph (Blazing saddles mod)

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[BacktoHyundaibychoice]

Thanks. One of the nicest things about the Equus is the 5 year free valet maintenance; no need to visit the dealership where one might to have to sit next to a Genesis owner.

A lowly Genesis owner. Fixed.

 

[Michael_nyctfl]

Harrumph, harrumph, harrumph (Blazing saddles mod)

"I didn't get a harrumph out of that guy."

 

[BBQ Bandit]

"i didn't get a harrumph out of that guy."