2014 Sport/Touring + Nav: Finance or Lease?

Beachhz · 04-15-2014, 02:19 AM

I've been looking at the Z for a while now and I've leased previous cars but am not sure if I should do it again for the Z. I have a habit of always wanting a new car after 2-3 years so I'm thinking I might lease again. What should I expect to pay as a monthly payment for a 2014 Touring + Sport/Nav on a lease/buy. Financing I can put down $10K but if I lease I wouldn't want to put more than $3K down. I'm hoping for payments between $450-$525. Invoice for the car I believe is $40,170.

6MT-Z34 · 04-15-2014, 11:41 AM

I prefer finance over lease, but if you like to have a new car every 2-3 years lease might be the best bet for you

hadokenuh · 04-15-2014, 11:55 AM

Someone said leasing the Z is a bad idea due to its depreciation and I agree. I'd personally finance the car at 1.99% (they had 0% APR on the Z at some point, not sure if they still do). If you want to keep lower payment and get a new car in 2-3 years, maybe getting a slightly used one? You won't lose money as much when you sell a used one in 2-3 years.

Beachhz · 04-16-2014, 09:08 AM

I'm a fan of the 2013/2014 models, I've been trying to find a 2013 but I've had no such luck. I contacted almost every dealer within 100 miles of me. I went to test drive a Brilliant Silver 2014 Touring w/ Sport/Nav the other day. I had no intentions of buying a 370z until the end of the year, but he gave me a pretty good deal and got it approved and on paper.

It's a lease with $3000 out of pocket including tax/title/fees, and $411 a month. It was used, but the guy returned it with only 800 miles on it. I have relatively no credit at the moment, since I just applied 8 months ago for a card, and my parents have shitty credit so getting a low APR on a finance is kind of out of the question. I still have time to decide I guess.

Chuck33079 · 04-16-2014, 09:12 AM

Quote:

Originally Posted by Beachhz

I'm a fan of the 2013/2014 models, I've been trying to find a 2013 but I've had no such luck. I contacted almost every dealer within 100 miles of me. I went to test drive a Brilliant Silver 2014 Touring w/ Sport/Nav the other day. I had no intentions of buying a 370z until the end of the year, but he gave me a pretty good deal and got it approved and on paper.

It's a lease with $3000 out of pocket including tax/title/fees, and $411 a month. It was used, but the guy returned it with only 800 miles on it. I have relatively no credit at the moment, since I just applied 8 months ago for a card, and my parents have shitty credit so getting a low APR on a finance is kind of out of the question. I still have time to decide I guess.

As a potential third option, how about buying a cheap used beater that you can finance on your own for a year? That way you can build your credit to the point where financing becomes an option and it also gives you time to save up more for a down payment. Had you financed some of the cars you've leased in the past, you would have a solid credit history now.

Beachhz · 04-16-2014, 09:40 AM

Quote:

Originally Posted by Chuck33079

As a potential third option, how about buying a cheap used beater that you can finance on your own for a year? That way you can build your credit to the point where financing becomes an option and it also gives you time to save up more for a down payment. Had you financed some of the cars you've leased in the past, you would have a solid credit history now.

Leasing wasn't my main option, financing was, which was why I said I wasn't planning on doing it until the end of the year when I can get a slightly better deal. But either way, I'm more a lease kind of guy since I like to switch between cars every few years. If I lease this car and at the end of the 42 months I decide that is the car for me, then I can always buy out lease. Which I've heard people do in total for about the same amount as the finance in the end.

Chuck33079 · 04-16-2014, 09:43 AM

Yeah, but you need to build your credit history and leasing doesn't do much there. That way you can get a decent rate on the buyout of the lease.

04-15-2014, 02:19 AM	#1 (permalink)
Beachhz Base Member Join Date: Feb 2014 Location: Boca Raton, FL Posts: 51 Drives: 2014 Mazda 6 GT Rep Power: 11	2014 Sport/Touring + Nav: Finance or Lease? I've been looking at the Z for a while now and I've leased previous cars but am not sure if I should do it again for the Z. I have a habit of always wanting a new car after 2-3 years so I'm thinking I might lease again. What should I expect to pay as a monthly payment for a 2014 Touring + Sport/Nav on a lease/buy. Financing I can put down $10K but if I lease I wouldn't want to put more than $3K down. I'm hoping for payments between $450-$525. Invoice for the car I believe is $40,170.

04-16-2014, 09:43 AM	#7 (permalink)
Chuck33079 A True Z Fanatic Join Date: Nov 2011 Location: Houston Posts: 12,265 Drives: 2011 370ztt Rep Power: 29539	Yeah, but you need to build your credit history and leasing doesn't do much there. That way you can get a decent rate on the buyout of the lease. __________________ 2011 MB Touring-Sport-6sp-Nav/GTM TT/FI TT TDX/JTran/Kosmic/Eibach/Hotchkis/SPC/CSF/RPS/SoThatsWhereAllMyMoneyWent

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04-15-2014, 11:41 AM	#2 (permalink)
6MT-Z34 A True Z Fanatic Join Date: Jan 2013 Location: NJ Posts: 1,726 Drives: PW Z Rep Power: 15	I prefer finance over lease, but if you like to have a new car every 2-3 years lease might be the best bet for you

04-15-2014, 11:55 AM	#3 (permalink)
hadokenuh Base Member Join Date: Mar 2012 Location: Houston Posts: 186 Drives: 09 370Z 6MT Rep Power: 13	Someone said leasing the Z is a bad idea due to its depreciation and I agree. I'd personally finance the car at 1.99% (they had 0% APR on the Z at some point, not sure if they still do). If you want to keep lower payment and get a new car in 2-3 years, maybe getting a slightly used one? You won't lose money as much when you sell a used one in 2-3 years.

04-16-2014, 09:08 AM	#4 (permalink)
Beachhz Base Member Join Date: Feb 2014 Location: Boca Raton, FL Posts: 51 Drives: 2014 Mazda 6 GT Rep Power: 11	I'm a fan of the 2013/2014 models, I've been trying to find a 2013 but I've had no such luck. I contacted almost every dealer within 100 miles of me. I went to test drive a Brilliant Silver 2014 Touring w/ Sport/Nav the other day. I had no intentions of buying a 370z until the end of the year, but he gave me a pretty good deal and got it approved and on paper. It's a lease with $3000 out of pocket including tax/title/fees, and $411 a month. It was used, but the guy returned it with only 800 miles on it. I have relatively no credit at the moment, since I just applied 8 months ago for a card, and my parents have shitty credit so getting a low APR on a finance is kind of out of the question. I still have time to decide I guess.