Leasing or Buying?!

[krackajackfoo]

Hey folks, it's me again. I'm 19 and will be a first time car buyer in hopefully about 3-4 months (god I hope i get that job <img src=/images/forums/snitz/smile.gif width=15 height=15 border=0>) and I was just wondering what you guys could tell me about the whole leasing vs. buying idea.

Leasing would be great for right now, would take teh payments down a little a month and help me out, but I really think the new Tib would be a car I would like to keep longer than 3 years. So once the lease runs out, and option comes up for me to buy the car... how much would it soe and would I come out cheaper just buying the car if I plan on more than likely keeping it anyway.

Secondly, and I know I'm going to get flamed for this one, but does anyone know of any other sweet new cars that will be out by the end of the summer? I'm pretty set on a Tib GT, but if something else comes along that catches my eye while I'm saving up cash... i might could be swayed .... resist ..... resist.... RESIST you traitorist bastard!!!
<img src=/images/forums/snitz/smile.gif width=15 height=15 border=0>


<hr noshade width=60% size=1 align=left>

[AUTOBOT]

I would not lease a Hyundai (IMO)

Also if you lease it then you realy can not mod it (if that is what you are interested in)

Also it is your money and if you want to get something other than a Hyundai, that is cool. I too have looked at other cars since I want to get a new one soon. But I keep coming back to hundai cause of the value. I will still shop around though until I am ready to buy.<img src=/images/forums/snitz/thumbup.gif width=25 height=18 border=0>


<hr width=60% noshade size=1 align=left><img src="http://home.mn.rr.com/autobot/autobot.jpg">

[kikassboy]

aite dude...i don't own this car yet cause my parents won't let me (sports car, only 17, insurance way too high...blahblah) but i love this car already. Hopefully when i graduate i can buy a tiburon. Maybe by then they'll make it even better! (Hyundai if ur reading this...make sure the reliability of your cars are also good too! I know most hyundai owners hate honda, but their level of reliablity is way better!) anyways...leasing and then buying would cost a lot more, mostly because of interest from the lease. If you are planning to keep da car, jus buy it!


<hr width=60% noshade size=1 align=left>

[Squeak]

Dealerships try to sell leases for one simple reason. They make more money on them than on purchase financing. If you compare final purchase prices you'll pay <b>at least</b> $1500 more (sorry if that sounds like an exageration, I'm working in $Can)on a lease than purchase financing over 5 or 6 years. That doesn't even cover the extra money you have to put down if you go over the mileage allowance.
If you can't afford the Tib, and you don't want to keep it longer than 3 years, leasing may be the way to go. If you want to own the car like you said, just buy it. You can drive it as much as you want, mod it if you want, and you save money in the long run.


<hr width=60% noshade size=1 align=left>

[2003baby]

even though i love hyundai's in reality they hold shit resale value... even the new tiburons even though they should be better then what they were in previous years still probably won't be great... <img src=/images/forums/snitz/uhh.gif width=15 height=15 border=0>

so um... i say lease... <img src=/images/forums/snitz/thumbup.gif width=25 height=18 border=0>


<hr width=60% noshade size=1 align=left>

Edited by - 2003baby on 04/09/2002 4:48:13 PM

[kikassboy]

didn't you read his post? he said he wants to keep the tibby...<img src=/images/forums/snitz/moon.gif width=15 height=15 border=0>...plus if he's gonna do mods on it, there is no point in leasing...


<hr width=60% noshade size=1 align=left>

[Cottonmouth]

<b>Leasing</b> is like buying a banana and not having to pay for the peal. You only pay for what you use. In a 48 month lease you are realistically only paying for approximately 55% of the car. The other 45% is what you would call the residual. this is what you would have to pay if you wanted to buy out the lease in the end to own the car. You have the option to buy it outright or you can finance the remainder. Through all this the car belongs to the leasing company, not you. A nice benefit of leasing a car is that you have the option to walk away at the end of the term. Providing that you havn't exceeded the amount of mileage/kilometerage of the financing aggreement. 48 month is a typical lease and 60 month is a lease that Hyundai Canada is offering right now on the Accent.

<b>Financing</b> is where you agree upon a price with the dealership for a set amount of interest. You will then pay for the car in a certain amount of time. I find that 60 month financing is the most common. These payments are more expensive since you are paying for the entire vehicle and not a percentage. The car does however belong to you and not the leasing company. This allows you to mod to your heart's content. This is the route that I have chosen for my own car. Also, because the car belongs to you, it is your equity. Meaning that you can use it later on as a trade on a new car.

On a side note.... When you trade your car for a new one... The amount you get for the car is used to reduce the before tax amount. Meaning you not only get X amount of dollars for the trade, you get X+taxes.

10000(trade) = 11500 savings<img src=/images/forums/snitz/wink.gif width=15 height=15 border=0>

Sorry about the long winded response but it is a question I run into all the time at work.

Yours truely,

Cottonmouth
(Your friendly Hyundai Sales and Leasing Consultant)<img src=/images/forums/snitz/thumbup.gif width=25 height=18 border=0>


<hr width=60% noshade size=1 align=left><IMG SRC="http://www.steamroller.com/ministeamroller/ministeamroller.gif">
<IMG SRC="http://www.steamroller.com/ministeamroller/mini89a.gif">
http://www.steamroller.com
http://www.geocities.com/cottonmouth_hco/