[coopermine]

Lets see how many of us are considering to buy (or have bought one already) vs. leasing it.

 

[Gmoney_2010]

We will be buying, my parents keep cars for at least 8 years!! hno:

 

[coopermine]

This will be our first lease ever. Now that my wife works closer to our home we will be able to keep it under 36K miles by the time lease is up.

I do not change my cars very often either, but usually get bored with them or get enticed with a newer model very easily. For now I am planning to keep the Pathfinder but I know once we get the Enclave I will get the itch to trade that in with something else....G35x perhaps ;D

 

[raftdoc]

We will be leasing for 3 yrs. Our youngest will be off to college about that time and our need for a larger vehicle will leave then as well.

 

[monstersinc1]

I will be buying. I try to keep a car 8 or 9 years. Leasing has never interested me.

 

[doncaruana]

Bought my '97 Tahoe and never regretted. Still driving it (in great shape) and no payments for the past 5 years sure is a nice feeling.

So, yeah, we're buying the Enclave. Just hope it lasts as well as my Tahoe...

 

[coopermine]

I have never owned a GM vehicle before, so I am a little hesitant purchasing one now, especially since the Lamdas are brand new.

Hopefully, I will start to trust them and will buy my next one.

 

[axiama]

I'm used to buying Hondas and I'm nervous about the eventual resale value of the Enclave. For instance, according to Kelly Blue Book, my 06 Civic has a private party resale value that's $1,000 less than my purchase price. The car has 15,000 miles on it.

 

[coopermine]

Honda has the best resale value than any car I know. Its like buying a condo in Manhattan.

 

[mss42]

Honda has the best resale value than any car I know. Its like buying a condo in Manhattan.

and why is that? answer, the consumer has made it that way. we as consumers have more power than we think. we hold the power to make or break any product out there.

 

[cyclops]

At the risk of coming across a little patronizing...the resale value only matters if you are going to sell the car. If you are only planning to have the car a couple of years then, financially, you are better buying a 2-3 yr old vehicle which has already taken the big depreciation hit.

Certainly, many people prefer leasing because they can get more car for a lower payment. But if you have any intention of holding on to the car for longer than a couple of years then leasing is a VERY expensive way to go compared to buying. For example, as others have pointed out in other posts on this forum, the interest on a lease (approx. money factor X 24) is calculated off the total of the selling price PLUS the residual value!! There is no financial logic behind this - it is only done because the market will bear a larger payment and it puts more profit into the leasing companies pockets.

There are many other cons to leasing like bogus fees (i.e. acquisition fee, termination fee, etc.) and taxation issues. In my state (NC) the title owner must pay 3% highway use tax (similar to a sales tax). The leasing company pays this and passes it on (sometimes with a small, but legal, markup) to the individual. However, if I want to buy out my lease then I must pay the use tax again because the title is changing owners (from leasing company to me). The list goes on and on...

Leasing is not always evil - however, it takes a very specialized situation to make it a good financial decision. Unfortunately, most people are seduced by the payment and ignore the fine print.

 

[coopermine]

and why is that? answer, the consumer has made it that way. we as consumers have more power than we think. we hold the power to make or break any product out there.

Well good product mainly. If you have a good experience you would refer it to the people you know and the list will go on. When more people want one, demand will drive the price high!

When Honda introduced Pilot back in 2002, the dealers were asking and selling anywhere from two to four thousand above the MSRP!

By the way I test drove a Pilot over the weekend, it sucks big time, I dont know why people are crazy about it. It has a box on wheels design and the top of the line model lacks some serious top of line gadgets, leather was made off of rat's skin.

 

[Guest]

By the way I test drove a Pilot over the weekend, it sucks big time, I dont know why people are crazy about it. It has a box on wheels design and the top of the line model lacks some serious top of line gadgets, leather was made off of rat's skin.

This is actually true of a lot of Honda's products. They do have an above average (though not stellar) reliability rating, but people tend to overlook how bland and boring they are to actually drive! I test drove a TL when I bought my G35 and it was like night and day. It felt like moving from a Ford to a Ferrari! The TL had lots of bells and whistles, but it drove like absolute junk compared to the G. I also have severak coworkers with Accords, a Pilot, MDXs and 1 civic. All reliable, all boring and completely lacking personality. I'm truly baffled by honda's superior resale values.

 

[netmag]

I agree overall with that statement. I have a Honda Accord Coupe. I went from a Mitsubishi Eclipse to the Accord. The Accord was/is a smoother ride but there is nothing "thrilling" about it all. The newer ones have more HP and the Acuras have even more than that, but I'm sure they all still feel like Hondas.

However, that's what Honda drivers like in general and that's why they stick with them. Getting a Honda is no guarantee that you'll never have issues but the odds are certainly in your favor. My in-laws have a Toyota Camry and that is even more boring to drive but that's what some people like. I chose the Accord back then because my Eclipse was just giving me too many issues. It had a re-occurring issue with the engine just dying for no reason. It was very hard for them to diagnose as they thought it might of been some sort of sensor inside the engine. Anyway I spent far more time in the dealership with a low mileage 3-4 year old car than I ever wanted to so I needed a change. I got rid of it and went with the "safe bet" because I was just tired of dealing with it. I got the coupe because I felt like I was still too young to drive a sedan at that time.

Anyway 97,000 miles later the only significant issue I've ever had with the Accord is that the altenator had to be replaced once.

Again you can get that kind of reliability and more on any car, but it's just that the odds seem higher for it to happen with Hondas and Toyotas so a lot of people go with them.

I agree that the features you get with them is almost pitiful in comparison to others for the same price. However, they probably make them overpriced because they can and people will still pay for it just to get that peace of mind.

Also, I think some of the secret to the increased reliability is because they keep things simple feature wise. Their reliability may be adversely affected as they are forced to make more and more cars (due to popularity) and are forced to add more advanced features to their base models to stay somewhat in line with the competition.

We looked at the Pilot as well but it just does not compare to the Lambdas. The Lambdas cost more but not by that much. So while I like the higher probability of a reliable car, it's just too big of a drop off to take it over the Enclave.

 

[coopermine]

I agree with most of what you said, but the top of the line Lexus comes with all of those bells and whistles and yet is rated most reliable car or atleast the one with least problem. So added features do not necessarily mean added headache.

Although seeing problem with the new Tundras I wonder what impact would it have on the LS460 which i believe shares the same engine.

 

[mss42]

Well good product mainly. If you have a good experience you would refer it to the people you know and the list will go on. When more people want one, demand will drive the price high!

When Honda introduced Pilot back in 2002, the dealers were asking and selling anywhere from two to four thousand above the MSRP!

By the way I test drove a Pilot over the weekend, it sucks big time, I dont know why people are crazy about it. It has a box on wheels design and the top of the line model lacks some serious top of line gadgets, leather was made off of rat's skin.

i totally agree w/you coop... looked at one of those last year and quickly shut the door as the truck is just plain ugly.... too me all honda's lack an inward beauty as a matter of fact they are just plain and ugly.

A HONDA IS A HONDA IS A HONDA..... A HONDA BY ANY OTHER NAME (ACURA) IS STILL A HONDA AND I FEEL THE SAME WAY ABOUT ALL THE REST ie, TOYOTA/LEXUS, NISSAN/INFINITI AND SOOOOOOOO THE LIST GOES ON.

like i said its the consumers that make these cars what they are. the samething can happen to the american car market if the consumers would scream out their names also.

 

[coopermine]

I would take Nissan/Infiniti out of your list. It is BMW of Japan.

 

[mss42]

I would take Nissan/Infiniti out of your list. It is BMW of Japan.

since when?

 

[Guest]

Go test drive a G35 when you have some spare time. You simply can't get a better mix of luxury feel and sport drivability for less (or equal) money. Nissan/Infiniti might not yet have the reliability reputation of honda or toyota, but my GOD are they fun to drive! Two and a half years later, my G feels, acts and drives like it's brand new. Not so much as a rattle or squeak to speak of, it's truly unbelievable.

 

[mss42]

yes, we drove the g35 when my sister was looking at the fx45 last year. very nice and beautiful car smooth too just too low to ground for me. my nephew and i love going car shopping and test driving just for fun. ;D he cant wait to get his hands on my enclave lol. i might let him drive it hehehehehehe. as a matter of fact, i cant wait to get my hands on my enclave either lol.