Buy, Finance or Lease

8thCivicNut · 01-08-2007, 07:39 PM

Did you outright purchase, finance or lease your honda?

I havent decided what to do when my Si comes in.

***Janizary*** · 01-08-2007, 07:46 PM

Financed about $10K, paid off with quarterly bonus after 3 months.

arisenfury · 01-08-2007, 08:13 PM

Lease

foolio_67 · 01-08-2007, 08:39 PM

Leased it

xmx250 · 01-08-2007, 08:45 PM

financed about 13.5k

ivtec03 · 01-08-2007, 09:30 PM

I was close to lease it, but figure its worth buying it. Gain some equity from the car.

P4rD0nM3 · 01-08-2007, 09:34 PM

Had the money to pay it in cash, but I'd rather have it financed so I can let my money grow on my investments. Financing it for 5 years instead of paying $350/month I'm paying double or more so I can catch up to it before the interest kicks in. I figured that it will only take 2-3 years to pay it in full without interest. 4-5 years and the bank will get around $1,500 in interest money. Besides the bank won't charge me if I pay more than the set amount per month. It also bumps up credit score a lot compared to it being paid by cash.

SiRyan · 01-08-2007, 09:49 PM

Financed

blck06si · 01-09-2007, 12:40 AM

Honda does not have good lease promotions on the SI civic. You would be stupid to do a lease on a SI it would be better to purchase. The best leasing programs have always been on the Accords.

Honda does not to "Special" lease deals on Civic's or fits only because they are hot selling cars and should not need the extra financing option of a lease.

Overall though if its ANY other honda and your thinking of leasing i would do it hands down over buying out right and a purchase. 8/10 people do not really know the benifits to leasing.

blck06si · 01-09-2007, 12:48 AM

Quote:

Originally Posted by ivtec03

I was close to lease it, but figure its worth buying it. Gain some equity from the car.

-Your *guaranteed equity in a lease your not in a purchase or a cash deal.
-Your also guaranteed the residual of what ever the car is after your term even if you are in a accident. *HAS TO BE FIXED AT A HONDA RECOMMENDED BODYSHOP*

At the end of your lease you have three options
#1. Turn you car in and walk away from it.
#2. Sell your car on your own and try to make profit.
#3. Purchase the car at the end of the lease for whatever the residual plus tax.

i wish i could explain it to you guys in person its alot easier. I have a great chart that I show my customers when i talk about a lease its 20x easier then trying to explain typing. lol

blck06si · 01-09-2007, 12:49 AM

Quote:

Originally Posted by 8thCivicNut

Did you outright purchase, finance or lease your honda?

I havent decided what to do when my Si comes in.

Purchase your SI over lease. It will nearly cost the same prolly within $20.

01-08-2007, 07:39 PM	#1 (permalink)
8thCivicNut Senior Member Join Date: Feb 2006 Posts: 378 iTrader: 0 / 0%	Buy, Finance or Lease Did you outright purchase, finance or lease your honda? I havent decided what to do when my Si comes in.

01-08-2007, 07:46 PM	#2 (permalink)
*Janizary* Minister of Discord Join Date: Nov 2005 Location: Sith Ferret dojo Posts: 6,586 Gas thread Nazi iTrader: 0 / 0%	Financed about $10K, paid off with quarterly bonus after 3 months. __________________ • Official BMW 1-Series Thread • DX/LX/EX Gas Mileage Thread • Civic Si Gas Mileage Thread • Civic Hybrid Gas Mileage Thread

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01-08-2007, 09:30 PM	#6 (permalink)
ivtec03 Senior Member Join Date: Oct 2006 Location: Schaumburg, IL Age: 27 Posts: 230 iTrader: 0 / 0%	I was close to lease it, but figure its worth buying it. Gain some equity from the car.

01-08-2007, 09:34 PM	#7 (permalink)
P4rD0nM3 Senior Member Join Date: Nov 2006 Posts: 1,324 iTrader: 0 / 0%	Had the money to pay it in cash, but I'd rather have it financed so I can let my money grow on my investments. Financing it for 5 years instead of paying $350/month I'm paying double or more so I can catch up to it before the interest kicks in. I figured that it will only take 2-3 years to pay it in full without interest. 4-5 years and the bank will get around $1,500 in interest money. Besides the bank won't charge me if I pay more than the set amount per month. It also bumps up credit score a lot compared to it being paid by cash.

01-08-2007, 09:49 PM	#8 (permalink)
SiRyan Senior Member Join Date: Aug 2006 Location: Vallejo,Ca. Age: 23 Posts: 5,568 iTrader: 16 / 100%	Financed

01-09-2007, 12:40 AM	#9 (permalink)
blck06si Senior Member Join Date: Jul 2006 Location: Peoria, AZ Age: 23 Posts: 415 iTrader: 0 / 0%	Honda does not have good lease promotions on the SI civic. You would be stupid to do a lease on a SI it would be better to purchase. The best leasing programs have always been on the Accords. Honda does not to "Special" lease deals on Civic's or fits only because they are hot selling cars and should not need the extra financing option of a lease. Overall though if its ANY other honda and your thinking of leasing i would do it hands down over buying out right and a purchase. 8/10 people do not really know the benifits to leasing.