I have till tomorrow to decide whether to change my lease to a buy, and I'm not sure what to do!
I walked into the dealership ready to trade my '98 Accord EX V6 and cut a check for the difference (around 21k), but after the lease was explained it seemed to make sense.
Anyway, I ended up with a 48 month lease using the Honda as a down (They gave me 14.5k, about $500 short IMO but they wouldn't budge) coming to $285 a month, and a residual of $16516. No money down, 1st month paid.
If I buy the car I'd want to pay cash rather than finance, for the savings in interest. I can afford it but it's still a big hit.
The lease mileage is 12k a year and is not issue. I won't come near it most probably. (The Honda had 11k miles, used as a second car.The IS300 will definitely have more, but still way under 12k/yr)
The advantages to leasing are if the car gets totaled or stolen, I walk away scott free (assuming I'm not hurt!) If you own, you take a loss even with insurance. Also, I still have the 21k I can invest.
I guess I just need assurance that I did ok here... any ideas?? Should I go back and buy it? Grrrr... fantastic car tho!
I walked into the dealership ready to trade my '98 Accord EX V6 and cut a check for the difference (around 21k), but after the lease was explained it seemed to make sense.
Anyway, I ended up with a 48 month lease using the Honda as a down (They gave me 14.5k, about $500 short IMO but they wouldn't budge) coming to $285 a month, and a residual of $16516. No money down, 1st month paid.
If I buy the car I'd want to pay cash rather than finance, for the savings in interest. I can afford it but it's still a big hit.

The lease mileage is 12k a year and is not issue. I won't come near it most probably. (The Honda had 11k miles, used as a second car.The IS300 will definitely have more, but still way under 12k/yr)
The advantages to leasing are if the car gets totaled or stolen, I walk away scott free (assuming I'm not hurt!) If you own, you take a loss even with insurance. Also, I still have the 21k I can invest.
I guess I just need assurance that I did ok here... any ideas?? Should I go back and buy it? Grrrr... fantastic car tho!