Thinking of leasing a Type-R

[slowride]

I know but not one i talked too would. Im guessing because of the nature of the buyers. People buying this car... young... never driven manual...wanting to mod...track it... guess they figure the cars not gonna be in best retail shape when its returned?

Were those dealers also looking to screw you with ADM?

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[slowride]

I know but not one i talked too would. Im guessing because of the nature of the buyers. People buying this car... young... never driven manual...wanting to mod...track it... guess they figure the cars not gonna be in best retail shape when its returned?

Stopped at my dealer today and found out my Type-R has has been built, but no ship date yet. Lease details: 63% residual, money factor .0022, 3/36 with a $22,424.85 at lease end. With just the upfront costs of about$600, the payment is around $545 a month.

The shitty thing is that Honda is running a lease special on all Civic, excluding the Type-R that would have dropped the payment almost $100 per month.

 

[Harlaquin]

Stopped at my dealer today and found out my Type-R has has been built, but no ship date yet. Lease details: 63% residual, money factor .0022, 3/36 with a $22,424.85 at lease end. With just the upfront costs of about$600, the payment is around $545 a month.

The shitty thing is that Honda is running a lease special on all Civic, excluding the Type-R that would have dropped the payment almost $100 per month.

Leasing it at 545 a month? Is that not high? Thats 19,620 at lease end then if you buy another, 22,424. Plus the 600. That's 42,644 roughly. Thats 10k over what i paid. Sounds like leaseing is not a deal when they getting 10k amd basically.

 

[slowride]

Leasing it at 545 a month? Is that not high? Thats 19,620 at lease end then if you buy another, 22,424. Plus the 600. That's 42,644 roughly. Thats 10k over what i paid. Sounds like leaseing is not a deal when they getting 10k amd basically.

You lost me there.

 

[Harlaquin]

You lost me there.

Youll pay 19,620 over the 36 months...then add lease end buy option plus your 600 down.. if you keep.it after 36 months youll pay 10k over msrp.

 

[slowride]

Youll pay 19,620 over the 36 months...then add lease end buy option plus your 600 down.. if you keep.it after 36 months youll pay 10k over msrp.

You didn't finance your car?

 

[Mcgugugaga]

Most of us here paid 2k over MSRP. (I did). The total payment after tax/fee and interest will be around 39k to 40k. Assume your math on lease is correct, I don't mind paying extra 2k to have options to get out in 3 yrs. Lease always cost more.

 

[slowride]

Not always, but if the Type-R is worth more than $22,424 at the end of 3 years, I can also sell it for the positive equity. My price is the new MSRP of $35,595. The money factor may sway me into buying though, that is one piece I don't like.

 

[Harlaquin]

You didn't finance your car?

Yeah but i put money down plus trade in and financed the remaining 19k with a credit union and not honda .my loan was 1 percent so my interest is a couple hundred bucks and i paid no adm. Just saying glad i didn't lease would have cost me way more.

 

[jdmk20akid]

You can definitely lease a Type R in the US. I currently am. I work as a sales representative at our Honda dealership in Columbia, SC and it makes sense for me to lease (as the car I drive also acts like a advertisement for me to met potential customers). Plus overall I do like the flexibility that leasing gives me. I think I just put like $1500 down and ended up having payments of $499 with road hazard included, and I only got $1 discounted from MSRP (lol).

While leasing isn't advantageous for everyone, I would really recommend you use your money and current income on creating a good start for yourself in the future. You'll really delay yourself a great foundation for your future by getting into a financial decision as costly as a $35k car regardless if your financing or leasing. My advice would be to move out and see how much you can budget for a car payment once you have some real world experience on cost of living in your area.

 

[slowride]

You can definitely lease a Type R in the US. I currently am. I work as a sales representative at our Honda dealership in Columbia, SC and it makes sense for me to lease (as the car I drive also acts like a advertisement for me to met potential customers). Plus overall I do like the flexibility that leasing gives me. I think I just put like $1500 down and ended up having payments of $499 with road hazard included, and I only got $1 discounted from MSRP (lol).

While leasing isn't advantageous for everyone, I would really recommend you use your money and current income on creating a good start for yourself in the future. You'll really delay yourself a great foundation for your future by getting into a financial decision as costly as a $35k car regardless if your financing or leasing. My advice would be to move out and see how much you can budget for a car payment once you have some real world experience on cost of living in your area.

Did you get stuck with the .0022 money factor?

 

[warrendeath]

545 to lease? That's a monthly payment on financing it. You can get 60-70k premium cars for that. I'd move on from leasing.

 

[warrendeath]

You have no rent to pay and you're sitting on $25k?

Buy a house! Cars will come later.

Wish I could go back in time and put together $25k while living rent free at home

Agreed. It took me two years of mistakes to move back in with my parents. If you have 25K sitting around, put at least 15 towards a house. You won't regret it.

 

[jdmk20akid]

Did you get stuck with the .0022 money factor?

Yeah I think it ended up being something around a 5.4% interest rate when I calculated it out. Which I'm still fine with since the term is short. Plus it was when they first came out, so I wasn't expecting there to be any kind of incentivized money factors lol

 

[jdmk20akid]

545 to lease? That's a monthly payment on financing it. You can get 60-70k premium cars for that. I'd move on from leasing.

It actually was around $500ish but I was getting out of my accord lease pretty early and the $1500 was pretty much me paying off the difference in negative equity from my early lease turn in

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