Lease vs Purchase

[Bricks and Bio]

I like to buy and am getting 2.09% for 72 months with 20% down and I am covering TTL. Monthly payment will be $2050. A couple of dealers are showing some sample buy vs lease costs using Acura financial, so let the comparisons begin. MSRP $200,000 Lease Duration 48 months Payment $2763 15,000 annual miles Cash at delivery $20,000, of which Security Deposit is $2775 No details on money factor, residual, TTL Buy 4.46% for 72 months Payment $2856 Downpayment $20,000 No details on TTL I think the Acura offered interest rate is terrible. Chase started at 2.75%, then my credit union came in at 2.24% and then Chase came down to 2.09%

 

[MasterNSXTech]

So they're more or less saying that you're going to lose well over $100k of value over 4 years and 60k miles? That just can not be off a capitalized cost of $200k. No way. And I'm sure the money factor is garbage so a good chunk of that $2763 lease payment is interest. But with those numbers, I wouldn't take the lease option.

 

[chrisn]

My dealer sprung a lease option on me on delivery day-- after I had already planned on buying the car. Even with very low quoted interest/money factor, the sum of all payments on the lease was meaningfully higher than my expected marginal return on holding more cash. Depending on where you are, the incremental sales tax due at lease expiration (assuming you buy the car) is a meaningful factor (9%+ where I am).Anyway, I went with the purchase, but I only had a few minutes to decide, so I welcome a more thoughtful analysis.

 

[powdbyrice]

we calculated the lease payments and theyre comparable (a little lower even iirc) to the Mclaren. not great, but in the ball park.

 

[EuroBoutique]

We did the match on lease vs. purchase a while back and lease simply doesn't make sense. I have the numbers somewhere but in general coming from a buddy who owns quite a few exotics, he told me:

For exotics, best to buy them used with a 50-80k depreciation, then pay with cash. In some cases you can sell them for virtually no loss minus the taxes/insurance. I don't know if that is possible with the NSX.

 

[docjohn]

that is the economics of expensive cars...lease for the new car smell...then the smart money buys at auction at lease end.