Lease question '06 or '07
#1
Lease question '06 or '07
The lease payment would be the exact same I'm told. The car cost difference is about 1100 bucks more for the '07. So I suppose at lease end, the '06 can be bought for less than the '07. But the '07 could be SOLD for more, being a year newer? Thoughts?
#2
by now, only reason to lease an '06 (if there are any left) is if its lease payment is significantly lower than the lease payments for an identical '07 model. since that isn't the case here, i'd lease the '07 model. also, i'd think that depreciation will end up closing the price difference gap.
#3
Because the '06 is technically a year old, it's residual value should be less than that of an '07. So, I could see how it would be cheaper, assuming all things are equal, to lease an '06 than an '07 because you'll be paying the same amount in payments but have a smaller buyout if you intend on buying.
You should never lease though with the intent to buy, because you get raped on the cost (add up your residual plus your monthly payments). You should also be able to get a pretty good deal on the '06s at this point.
If you're hell-bent on getting a Lexus (BMW has better lease deals), I would then consider whether I want to lease or buy. If I decide to lease, I'd want one of the firsts of a new model year, and if I wanted to buy I'd wait until the end of the model year or get last model year's version.
You should never lease though with the intent to buy, because you get raped on the cost (add up your residual plus your monthly payments). You should also be able to get a pretty good deal on the '06s at this point.
If you're hell-bent on getting a Lexus (BMW has better lease deals), I would then consider whether I want to lease or buy. If I decide to lease, I'd want one of the firsts of a new model year, and if I wanted to buy I'd wait until the end of the model year or get last model year's version.
Last edited by The Chad; 11-01-06 at 11:32 AM. Reason: Changed "will be" to "should be" because I am no expert.
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09-22-06 02:36 PM