Finally decided to lease a 370z

tvfreakazoid

What are your thoughts on leasing a 370z? I never bought or leased a vehicle yet. I know there are some restrictions and what not but i wanted your opionion or anyone that has experienced leasing a vehicle.
I understand you wouldn't be able modify them in anyway, but i don't plan on doing that cause i wouldn't be able to afford to do it. Maybe an exhaust or something but when leasing one i don't' think you can do that.
I wonder if it cost more to lease one in the long run.

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Red__Zed

Cars like the 370z usually wind up being a pretty bad deal to lease. You usually wind up spending a lot more than if you bought and sold the car.

kenchan

you can mod a leased car but you have to return it to stock when you return the car at end of lease..otherwise they will charge an arm and leg for factory parts.

im not too big on leased cars. unless it's a car that is known to depreciate very fast... but then the cars i usually like dont depreciate that fast anyway.

the main focus would be to offer the lowest down payment, lowest monthly payment, and shortest duration/term.

TreeSemdyZee

Don't lease unless it's for business.

Rui Z

It all depends on what kind of deal you get on the lease.

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Mike

yep, and unless its a factory lease special, with todays interest rates, you are better off purchasing.

I've leased a couple times.
A factory subsidized 299/mo lease on a Saab 9-3 that was worth its 3 year residual at the one year point, and that worked out great. Just gave it back at the end and walked away.

Also leased a G35 coupe when they first came out. nothing down but had to get rid of it due to 50% paycut when my company went bankrupt. Had it about 15 months into a 36 month lease. Sold my pickup and traded the G in on a Dodge Magnum, and they gave us 1000 more than the lease payoff, plus sales tax credit for the trade, even though you only pay sales tax on your monthly payment with a lease, and not the whole amount.

Oh, and the Z4 before our current Z4 was also leased on a factory special. traded it in on a new one two months before lease end and came out slightly ahead too. That one was just a two year lease.

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InTheZone

Probably should've asked around before leasing...

Basically what Mike said, unless you got some GREAT deal, just buy.

Myself, I would never lease a car regardless of the deal.

T.Rager22

Would not suggest leasing a Z at all. The only reason I lease mine is because mine is leased through Nissan corporate on an employee lease. Im getting it for really cheap, but if there was no discount, there would be no point. No upgrading at all and you end up dumping a lot of $$$ with nothing to show for it when the lease is up. Z's dont loose very much value as the years go on so you are likely to have more money if you buy and decide to sell later on down the road... plus, you can have more fun while you have it

Mt Tam I am

Leasing is a suckers bet, unless you are writing this off on taxes. Even then I would buy it and own something at the end of the payments.

Turning in a leased car means a very close inspection for flaws i.e. scrapes and dents, etc. These must be repaired before you turn in car. More money out your pocket.

My advice. Do not do it.

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I want a Z

If you like to change cars every 3-4 years, then leasing is the way to go.
If you are going to buy and only keep it a few years, you would be way better off leasing

Jeffblue

if your car is just a daily driver and you view it as a monthly payment for the utility of a vehicle, and you want that vehicle to always be relatively new and problem free, then leasing is a good idea. otherwise, buy.

red6spd

Go to the dealer and get a price. Just like most guys said the lease deal on a Z will probably be bad. Also when you lease a car you need to get higher deductables and crap like that.

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Pushing_Tin

I leased one car and I'll never do it again. Too many restrictions for me, miles, mods, any damage etc. I also like being able to get another car on a whim, or if my life changes. In a lease you're screwed.

You can try swapalease.com and maybe you can take over a lease somebody wants to get out of.

snake1212

I just want to set a few things straight in terms a leasing. You do NOT need special deductables for insurance on a lease. I don't thing any insurance company lets you go over $1,000 deductable anyways so it doesn't matter. You do NOT need to return the car with all factory parts on the car. If you paint the car pink with purple stripes then yes they will charge you. Adding an exhaust or spoiler does not deduct from the car's value so Nissan or any other leasing company does not care. People have been saying things about damage. If you bought the car and had damage on it you would probably get it fixed just as you would on a lease. When over half the people that finance a car should have some sort of gap insurance then you know more people should be leasing.

With that said the Z's lease isn't factory subvented. It's not like leasing a Maxima with a .000XX money factory. The 2011 residules are good and so are the deals. If you are planning on keeping the car for 3 years and aren't planning on dropping money on a super charger or full body kit then don't be afraid to lease.

Here are a few things to know about why leasing isn't this horrible thing. The average American finances for 71 months, that same American trades out of their financed vehicle ever 33 moths. They leased and didn't even realize it. The most common excuse why someone doesn't want to lease is because they don't own the car. Unless you have the title in your hand you don't own it anyways. Their are an extraordinary amount of people in this country that have negative equity on a car that use this excuse. They just don't realize if they just leased to begin with they would have paid less per month and wouldn't be rolling in money from one loan to the next. They would of handed the keys over and walked away.

Don't be afraid to lease and don't let people scare you. As long as you have some idea how many miles you are going to be driving the rest is easy. Sorry about the long reply, I just always find these comments on questions about leasing interesting.

NecioVato

@snake1212
I have to agree; I think the answer is: 'it depends'. I personally don't like leasing bc I like to own my cars for around 6-7 years. I like the idea of being able to sit there without a car payment; although I just paid off my car (after 3 years) and I have the urge to get a new ride...something like the 370z (THIS car is just so sweet; hard to let it go) but I know I'll wait for a couple of years at least.

@ OP
I think leasing might work for you IF you know you don't want to keep the car longer than 3-4yrs and you KNOW (I think this is the key) how many miles you average a year and you like the idea of 1. getting a new ride every 3-4 years and 2. don't want to deal with the whole selling the car or trading it it.

Just my .02