Really need ADVICE: Buy out LEASE? Or Lease New Car again?

[Tcoat]

Originally Posted by PoRco

Really appreciate the replies guys! I have more clarity now.

The way I see it now, and please correct me if I'm wrong, is that even if I DO buy it out (and assuming all things remain the same in the market, i.e no turbo and same availability) then I'd be coming out a couple thousand dollars ahead? (I'd be buying it out at 17k+ taxes, this closer to 18.5k)

I forgot to mention, that if I buy it out, I'm definitely gonna be fixing the cosmetic damage on the back (which may ring me 1k$) It's just been bothering me way too much and my heart pains when I see it.

Also, (just as another posted pointed out) if I get the extended warranty for 2k$, that's another additional cost.

Hmm, my total costs are now looking more like 21k for this car. Not bad tbh.

So it's THAT vs a brand new FRS at another 3 year lease!

(Oh btw, I'm getting the 1k student rebate this time , since I just completed my masters.)

Decisions decisions..

Looking at a $31K car with the repairs not a $21K one (Hope your MB isn't in accounting. JOKE). Since many of these cars were listed at $30k+ (Canada eh, before you US guys all pipe up that is too much) you really won't be paying that much more for it then if you had bought outright.
I would skip the extended warranty as it does not really do that much for you.
If you are happy with the one you have just keep it and think of the little bit extra you paid as a trial fee. There are guys that took way worse beatings then that on their cars.

[MisterSheep]

Originally Posted by PoRco

Wow! Thanks for this thread.

And yes, I've had tail light issues too. Got that fixed.

Going into first does feel clunky sometimes, especially when I compare this to my friends ford.

This is my first car and first MT, so I dont have much to compare it too!

What I have found out with this car is that it has great driving feel but poor clutch feel. I believe there are many threads on this forum regarding;

Fixing clutch adjustment
http://www.ft86club.com/forums/showthread.php?t=8040

Clutch Spring removal
http://www.ft86club.com/forums/showthread.php?t=35621

Swapping the slave Cylinder for better feel
http://www.ft86club.com/forums/showthread.php?t=77390

And other threads regarding the clunky transmission feel. From what I've learned is that a good quality Shifter and some MTEC springs smooths this right up.

[strat61caster]

Originally Posted by PoRco

Hmm, my total costs are now looking more like 21k for this car. Not bad tbh.

$34k by my math, you're not getting your $13k back for the first three years are you?

Which is why buying is generally advised over leasing, you'd be paying off a ~$30k loan + the $1k cosmetic fix. The damage is done and leasing again will just put you deeper in the hole basically calling the past three years a $13k rental, maybe better than buying a $13k car outright but yeah, just food for thought. The important thing here is that you are having a good time and that you're not financially overburdening yourself.

[MisterSheep]

Originally Posted by Tcoat

If you are happy with the one you have just keep it and think of the little bit extra you paid as a trial fee. There are guys that took way worse beatings then that on their cars.

The allmighty @Tcoat has spoken.

[Tcoat]

Originally Posted by MisterSheep

The allmighty @Tcoat has spoken.

Your Majesty will do just fine thank you.

[venturaII]

Buy it. You won't get another 2013 with 30K miles for less than the buyout, plus you know this car's history.


Leases only make sense in a very narrow spectrum of use cases.

[MokSpeed]

Originally Posted by PoRco

Yeap, they're leveraging the cosmetic damage to get me to buy from them. They get gain nothing from me returning the car. It's only toyoto that benefits , if I'm correct . Oh, and you raise a valid point about the 2013 models.

Exactly!


It would make absolutely no sense for you. You've already invested well over half the item's value and it's quite apparent that you'd prefer to stay in a FR-S/BRZ. If the only flaws are indeed minor cosmetic then I say keep it. Even if you do end up wanting another vehicle, you're better off buying it out and selling the FR-S privately to retain all those payments you made on the lease.

[CatDaddysBBQ]

The low end of these cars in decent condition without a zillion miles will probably be around 10k. If you think you'll keep it for more than 2-3 yrs more, buy it.

Remember, even if they let you walk away without paying any more money, you now have zero towards the next car. You'll probably buy something more than 17k, so buying this car you have is probably a better deal than anything else out there you would do as an alternative.

[Tcoat]

Originally Posted by CatDaddysBBQ

The low end of these cars in decent condition without a zillion miles will probably be around 10k.

Quick, what are next weeks lotto numbers?

[PoRco]

Originally Posted by Tcoat

Looking at a $31K car with the repairs not a $21K one (Hope your MB isn't in accounting. JOKE). Since many of these cars were listed at $30k+ (Canada eh, before you US guys all pipe up that is too much) you really won't be paying that much more for it then if you had bought outright.

Originally Posted by strat61caster

$34k by my math, you're not getting your $13k back for the first three years are you?

Oops. Yes. I meant future costs :P I figured 21-23k is what a dealer would sell a 2013 FRS with 30,000km on it (yes?)

I'm leaning towards buying it out even more now! I just needed to make sure it was the right decision!

So if I DO move, I can just take it with me.

[MisterSheep]

Originally Posted by PoRco

Oops. Yes. I meant future costs :P I figured 21-23k is what a dealer would sell a 2013 FRS with 30,000km on it (yes?)

I'm leaning towards buying it out even more now! I just needed to make sure it was the right decision!

So if I DO move, I can just take it with me.

Problem solved!

[Tcoat]

Originally Posted by PoRco

Oops. Yes. I meant future costs :P I figured 21-23k is what a dealer would sell a 2013 FRS with 30,000km on it (yes?)

I'm leaning towards buying it out even more now! I just needed to make sure it was the right decision!

So if I DO move, I can just take it with me.

At least $21 to $23 depending on your area. London is still selling 13s for as much as $26 with that many miles.

[MisterSheep]

Originally Posted by Tcoat

Quick, what are next weeks lotto numbers?

Typical Tcoat..

[Tcoat]

Originally Posted by MisterSheep

Typical Tcoat..

I can stop. Be all serious and grumpy all the time.