My payment went up about 80 bucks a month..and I had to put down an additional 5 grand.
I had a lease on a 2001 IS E-shift..it had 9500 miles and 10 months (36 month lease). The price on the 2001 was 34,500 and the price on the 2002 was 36,012.
The reason the payment went up was because the negative equity on the car was about 2700 dollars..meaning that the trade in value lexus of bellevue gave me was 27000 and the payoff on my lease was 29700. Looks like the banks overestimated the residuals on the 2001 IS's so if you leased then..you probably got a good deal. But now..the residual on the 2002 IS was almost 4000 dollars less. Meaning my payments are more now...but I can buy the car for less at the end of the lease if I choose to do so.
In all honesty...I realize it was one my less fiscally wise decisions...but when you are talking about cars like the IS....
I'm determined to drive a manual transmission and do so in the IS..and thats why I did it.. but also because I could had the disposable income do do so. Being 23 and single, I can get away with that now.
Right now I'm going through the learning pains of driving the 2002 5 speed..but I know once I get good at it.its gonna be a lot of fun..I'm already getting hints of that. that and the silver color, cooler spoiler, all black leather interior, and the nav system
So in the end it comes down to a combination of two things..
1) Can you afford to do it?
2) How badly do you want it?
Thanks for the reply........thats what I was looking for.
Looks like I won't be doing that, but thats ok. The reason I got the car was because it was a luxury/sports combo. So, I think I'm just going to an integra to 'fix' up for a fast car, and this can be my 'nice' car for the weekends and going out.