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Discussion Starter #1
I'm relatively new here so forgive me if this has been discussed already, but how many of you leased your IS?

This is the first car I've leased and I find myself driving this car differently than the cars I've bought. i.e. paying more attention to the mileage, not eating in it, etc. Not that I dogged my other cars, in fact, I still have my '92 Prelude, but the IS feels like it's someone else's car...
 

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I'm leasing but will buy the car outright on a Home Eq line...cash position worked out a little better for me that way.
 

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Discussion Starter #3
Agent, so you will pay for the car until the end of your lease and then get the home equity line or will you get the home equity line now? If you are getting the home equity line right away, why didn't you get it before you bought to save yourself the leasing fees, etc...
 

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Leasing a car shouldn't make it feel any less yours than if you bought it. It is a business transaction just the same as a full cash purchase, except that there are now restrictions on mileage and modifications, etc, all of which can be corrected with more cash if you so desire.

What I'm trying to say is that if leasing is the better option for you financially, then lease it. But don't let that get in your way of enjoying the car!
 

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It coincides with a planned upgrade of the house. In 3 years my home will be 5 years old and the wife will want new cabinets, new counters, new carpet probably a French Door here and there so what is a little extra dough. Also, you never know what might happen with a car or with the economy...if we go Tits Up I can return the car and ride my bike like that hot slut on Dark Angel...or conduct insurgent activities like in Red Dawn.

Agent Smith Out
 

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I agree with Mustard. I have leased 4 cars (yes I'm old). The trick is to treat them like your own. If you eat in a previous car you bought, then eat in this one. The effect on your previous car if you messed it up with a McD shake was lower resale value = money out of your pocket when you sell. On a leased car, you might have to pay some of your damage deposit. To me mileage is the annoying one - I was always paranoid about the mileage. Pay for extra miles if you think you will use them or you will get hosed.

BTW, I think it is a more sound "investment" to purchase a Lexus if it holds it value well as other's seem to think it will (see http://www.is300.net/forum_new/Forum1/HTML/003048.html). After 3 years of a purchase you will probably have more equity in the car than with a lease. If the lease company calculated correctly (which they usually don't) your equity will be ZERO at the end of your lease. Of course this depends on the lease factor and the residual value.
 

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I always lease my business car for tax purposes. Its a little odd at first, but you get used to leasing and realize that the appearance of ownership really is ownership. As for the mileage, mine is rated at 27,500 a year, miles are availiable you just have to buy them. If you dont use them at the end of the lease, you get a refund.

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Stephen Withrow
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98 Lexus LS400
97 Ford Explorer Limited
 

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nowadays, it's practical to lease a vehicle. you dont have to put up a huge downpayment and a huge monthly payments. invest the rest of your money on stocks. and about the mileage dont worry about it. you can always negotiate it. for example, i have leased two lexus already. at the end of every lease, i return the car and lease another lexus and negotiate with the salesman that they pay for the mileage on the original car and i'll get another lexus, thay can accomodate you. lexus wants your business, they want yopu to stay with lexus. just dont do 5000-10,000 over the mileage contract. and always lease 3 years.
 

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Tony Mack said:
I'm relatively new here so forgive me if this has been discussed already, but how many of you leased your IS?<P>This is the first car I've leased and I find myself driving this car differently than the cars I've bought. i.e. paying more attention to the mileage, not eating in it, etc. Not that I dogged my other cars, in fact, I still have my '92 Prelude, but the IS feels like it's someone else's car...
Don't worry about that :) Watch the mileage, but other stuff I wouldn't worry about. The end of lease inspection is mainly to get the options on the car and make sure that everything works (breaks, power seats, stereo, etc). My last car was leased, and he was entirely unconcerned by the bleach stain on rear seat, dent on the hood, aftermarket power terminal on battery, and overall condition of the car. All they really care about is that it runs, and what it's got, so they can send it to auction.
 

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I leased mine, thinking that I would get rid of it, like so many other cars that I have had. Turns out, that I put 50000 miles on it in one year because I did not want to drive my other cars. I am paying it off this month, and am going to modify it now since the waranty is up. Long story short: Be prepared to love this car, and know that you are going to want to drive it, A LOT. I am sure that quite a few on this board will agree with me.

Mark
 

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hurricane said:
I agree with Mustard. I have leased 4 cars (yes I'm old). The trick is to treat them like your own. If you eat in a previous car you bought, then eat in this one. The effect on your previous car if you messed it up with a McD shake was lower resale value = money out of your pocket when you sell. On a leased car, you might have to pay some of your damage deposit. To me mileage is the annoying one - I was always paranoid about the mileage. Pay for extra miles if you think you will use them or you will get hosed.<P>BTW, I think it is a more sound "investment" to purchase a Lexus if it holds it value well as other's seem to think it will (see http://www.is300.net/forum_new/Forum1/HTML/003048.html). After 3 years of a purchase you will probably have more equity in the car than with a lease. If the lease company calculated correctly (which they usually don't) your equity will be ZERO at the end of your lease. Of course this depends on the lease factor and the residual value.
your link doesn't work...even took out the extraneous "close paranthesis" and period.

BTW, i'm leasing mine and i'm glad that i did...don't think the car's value will hold up if a new IS that's so much better comes out in 2004 or 2005...plus you can really drive the car and not worry about the engine, or suspension devaluing the car...dealers don't and can't check for that...if the engine becomes rough, too bad for them..still under warranty..
 

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mdigrappa said:
I leased mine, thinking that I would get rid of it, like so many other cars that I have had. Turns out, that I put 50000 miles on it in one year because I did not want to drive my other cars. I am paying it off this month, and am going to modify it now since the waranty is up. Long story short: Be prepared to love this car, and know that you are going to want to drive it, A LOT. I am sure that quite a few on this board will agree with me.

Mark
I agree...Altezza fever full blown!!
 
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