Which Car Would you Lease?

Question

Which car would be better to lease?

Hyundai Tiburon, Mitsubishi Lancer, Saturn ION, Chevrolet Cobalt, Pontiac Solstice Roadster, Mazda MX-5, Ford Mustang or Pontiac GTO??

Answer 1

The only way to get a half way decent deal on a lease is to lease a vehicle that does not depreciate much. Of the ones you listed, the only one that might hold its value at all is the Mazda MX-5. Unfortunately it's a new model and does not have a depreciation history so it's not going to be a very good deal at all most of the time.

The following makes retain their value well and MIGHT make sense for leasing IF you understand all fo the ins and outs of leasing:

Accura
Infinity
Lexus
Mercedes-Benz
BMW
Toyota
Honda
Some Subarus
Some Mazdas

Because of high depreciation, terrible makes to lease include:

Ford - Lincoln - Mercury
Any GM
Chrysler
Hyundai
KIA
Suzuki

To get a good idea of what might be a good lease deal, get the April issue of Consumer Reports. Look at the various models. The ones with high resale value are marked with a red bulls-eye. Only lease one of those, never anything less.

Keep in mind that leases are very restrictive. You will be charged for excess mileage at the end of the lease if you go over the allowed mileage. Depending upon the vehicle, this typically runs 20 - 40 cents per mile. Of course, you can negotiate more miles, but this will drive the monthly lease payments up.

You'll also be hit for excess wear and tear. The lessor's opinion of reasonable wear and tear will likely be much more conservative than yours is.

If you do lease, make sure that you get "gap" insurance. If you should total the car -- even if it's not your fault -- it will be considered an early termination. That will be VERY expensive to deal with if you don't have gap insurance.

Also remember that you are legally obligated to make all of the lease payments. If you try to terminate the lease early, it will be very expensive as the lease company will re-compute the lease using the actual cash value at termination and credit you for the payments already made. The balance will be very high and must be paid on the spot; you won't be allowed to make payments on it.

Answer 2

Honestly, I don't like any of those cars:

Hyundai - Massive depreciation.
Mitsubishi Lancer - Boring, and depreciation.
Saturn ION - Depreciation.
Cobolt - Massive depreciation, poor reliability.
Pontiac Solstice - Fairly interesting.
Mazda MX-5 - Tried and tested, good car.
Mustang - Often over priced, noisy.
Pontiac GTO - Boring, heavy depreciation.

Any of those cars that depreciate a lot are going to cost more to lease because you are paying for your share of the depreciation.

I would consider looking at the Nissan Altima, Honda Civic, Toyota Corolla, Scion xA / xC. All of those cars depreciate less, are more reliable and better than the ones you mentioned. Go to a web site like Edmunds and read about the cars before you go shopping.

UPDATE:

Someone asked me why I said the Chevrolet Cobolt was unreliable. Well I based that comment on Consumer Reports April 2006 edition. They tested hundreds of vehicles and gave the Cobolt the lowest possible score for reliability. Edmunds said of the vehicle, "Cheap interior plastics, cramped backseat, dire lack of interior storage, dull handling, mediocre fit and finish." Sure you may have got lucky with yours or simply have low standards. But at the end of the day even if you like it, it is still going to depreciate like crazy, so you could do a heck of a lot better.

Answer 3

Leasing isn't a great option, especially if you intend on buying the car out at the end. I would just buy one outright, but...just for opinions of the cars, I'd go with the Saturn ION over the others for several reasons: good gas mileage, nice looking car, interior is very nice (the leather is excellent), and it's got enough room for you and your friends.

Answer 4

Mazda mx 5

Answer 5

well what type of car are you looking for?

If Im going economical then I would get a lancer or ion.
More into sports then I would get the GTO or Soltice. I am not a really fan of the mustang although I do like the 1967 shelby one.

Answer 6

if i had no choice but to lease i would pick a Chevrolet Cobalt. i own one and have put about 22,000 miles and it and have had no problems whatsoever. so to the person who says it has crappy reliabilty,prove it.while the depriciation does suck, in the end it would be the better choice because of its gas mileage.

Answer 7

I wouldn't lease if i were you...its generally a ripoff...but if you have to choose a Lancer Eveolution is nice or a Mustang GT

Answer 8

The best car to lease is the Yugo without a doubt.

Answer 9

Mazda

Answer 10

I can tell you what vehicle NOT to lease '05 G6 (too many things wrong with it) the new Fusion is nice for a lease.