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Old 09 Feb 2008, 12:16 am
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Default buy or lease the eternal question acura TSX?

I can buy an 2004 Acura TSX for $13900 with 96000 miles for $358/mo. (I know thats a lot of miles) or lease a 2008 Acura TSX for $400/mo for 36 mo. my friend cannot understand why I would want to buy... what is the better deal.ok are you a**holes listening at all im not looking at BMW's bc they cost too much anyway plus you add what they cost for maintenance. this is between buying a high mileage 04 acura TSX and 08 TSX lease. I have no interest in any BMW or anything else. I know they are great awesome cars but I don't have the g*damn dispolseable income those. I am set on a TSX so if you can't contiribute, please obstain from this conversation
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Old 09 Feb 2008, 12:31 am
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You don't give enough information to get an accurate answer, but I'll give it a shot.First, I am assuming the 2004 is an automatic in KBB "good" condition and it's a private party. It looks like you are talking about a 48 month loan for the principal only (paying tax and license out of pocket) at about 11% interest.By the time you pay off that loan, you have a car that's eight years old with about 180,000 miles on it. For the last year of that loan you are paying $358 a month for the priviledge of driving a seven year old car with over 168,000 miles on it.Meanwhile you will have repair costs and maintenance.Now let's look at the lease. I am guessing that that $400 a month does not include taxes. Around here the real cost is about $433 a month.BUT! For that, after 4 years (when that used car was 8 years old) you will be driving a one year old car. Why? Because obviously you got a new one when the first lease ran out.It's a no-brainer.On the other hand, you could lease a new BMW 328i at a subvented cost of $369 a month plus tax, and the free maintenance would almost pay for the $34 a month difference. Just a thought!
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Old 09 Feb 2008, 12:46 am
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if i was going to lease a car for 400/mo for 36months i would go straight to bmw and grab a 3 series with free maintenance instead of a TSX that's better than either deal you mentioned
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Old 09 Feb 2008, 01:01 am
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if you can afford the lease dont buy a car with 96k...that way you can get another lease after 36 months or buy the 2008 then with maybe 45k miles, less than half the miles of the '04...
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Old 09 Feb 2008, 01:16 am
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Check the fine print on the lease most leases only allow you so many miles per year on the car if you go over they charge you for every mile after that.If your happy with what they offer go for it you have a new car with warranty.
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Old 09 Feb 2008, 01:46 am
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the 04 tsx has quite a few problems with it as it was the first of that model year. How many miles a year do you drive. I own a 06 tsx that I love but No lease-drive too many miles. Acura was offering excellent lease deals of the tsx-I do not know if it is still in effect. Go to acura. com and find out.What kind of credit do you have-those payments seem high.
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Old 09 Feb 2008, 02:01 am
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If you lease a new TSX for 4 years or less, you are covered by the manufacturer's warranty, plus you have Lemon Law protection, plus you get a new car with all the latest convenience and safety equipment.Used cars are sold "as-is" with no guarantees or warantee, and no lemon law protection. Unless you get a professional inspection and a CarFax report, you are exposed to extra expenses for repairs after the purchase.If you decide to lease, you should understand how leasing works and how to determine if it is right for you. The following web site might help:http://www.leaseguide.com/index2.htm.
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Old 09 Feb 2008, 02:16 am
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From a personal finance standpoint (and as an Acura owner) you always want to purchase a car rather than finance. Unless you are getting a sweetheart deal on the lease - like the payments are deducted from your paycheck pre-tax as it is in the case of some professionals - then leasing is a bad idea.At the end of the lease - 3 years - you will have put all that money into the car (down payment and monthly payments) and you'll have nothing to show for it - you have to turn the car back in and you'll have nothing. If you buy a car you'll be making monthly payments towards actually owning the car. At the end of your loan you will still have the car and the equity in it. Acura's do hold their value well so it should still be worth something.One of the best financial moves you can do is buy a car (preferably with cash) and then drive it til the wheels fall off. Think of all the money you would save not having to make monthly payments.There is a reason many financial counselors call them car "fleeces" instead of leases.
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Old 09 Feb 2008, 02:31 am
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I'd probably buy the Acura if it had lower miles and at least some of its warranty left on it.This one is kind of tricky... Because with a lease, you can only drive so much per year. I'd probably go for the 04. But maybe you should consider another one with lower miles, and maybe come with a bigger down payment.Btw, 04 TSX's had no problems. And not all used cars are sole "as-is". I got an RSX 3 weeks ago with the certified pre-owned warranty.
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