[rgs]

I'm thinking of trading my 2018 Mazda3 hatch in on a 48 month lease (it would be my first ever lease so I don't know much about them) rather than purchase. About $100 per month less. I understand the buyout in 4 years would be 13,200 in Canada. I'm wondering what others think. How is Mazda with leases? I suppose I could buy the car after 4 years if I still liked it. But there wouldn't be anything to trade the second time around. Keep going around and around.

 

[R-Brown]

I'm thinking of trading my 2018 Mazda3 hatch in on a 48 month lease (it would be my first ever lease so I don't know much about them) rather than purchase. About $100 per month less. I understand the buyout in 4 years would be 13,200 in Canada. I'm wondering what others think. How is Mazda with leases? I suppose I could buy the car after 4 years if I still liked it. But there wouldn't be anything to trade the second time around. Keep going around and around.

Personally I've never seen the point in buying out lease. I'd rather just start a new lease with a newer car. For me deciding on a lease comes down to how much I drive in a year because that's how they get you if you go over your limit.

 

[Scott Francis]

If you want to reduce your car costs, are ok with keeping it for 5-10 years or more, and don't have any tax-related reasons to lease, then I can't think of any advantage to leasing. Full disclosure: I've never leased so maybe I'm terribly misinformed.

 

[#LFGM!]

If you want to reduce your car costs, are ok with keeping it for 5-10 years or more, and don't have any tax-related reasons to lease, then I can't think of any advantage to leasing. Full disclosure: I've never leased so maybe I'm terribly misinformed.

Agree. Leasing is nothing more than renting and the mileage restrictions would not work for me.

 

[Salls]

I've leased a couple times, but never again. I don't like having a car payment forever, the millage restrictions always give you pause about how much you want to drive, and when you lease you miss out on pride of ownership since the car isn't yours.

 

[rgs]

Thanks for all the responses. I couldn't pass up the 4 month payment deferral so I bought it which seems to be the general consensus.

 

[EdRyan]

Leasing makes sense if you want to always drive new cars, and you don’t have the cash to purchase outright. It is less painful than financing and then eating the depreciation every two years when you sell or trade in (or, to look at it another way, owing more to the bank than your car is worth). It gets you out of the old car cleanly and in to a new one. And it is a fixed cost that you can budget for, rather than having an older car which costs less per month but is prone to large unscheduled repairs.

Of course, you are paying for that privilege. You would have paid less buying the car with cash and then selling it yourself, even with the depreciation. And you would save even more if you pay with cash and keep the car ten years. But, the premise for leasing is that you want a new car every x number of years and you don’t have the money up front.

 

[steve67]

We're on a pcp and have been for the past 8-9 yes. Upto now and 5 cars later find it works for us. ..it's all about low nil/deposit ,timing and bartering..