I currently own (and am very happy with) a 2002 Nissan Sentra SE-R Spec-V, I never thought I could afford an RX-8 but my brother who works at a ford dealership said he could get me into the high 200's low 300's a month on a lease of a pretty much loaded RX-8. So I'm pretty psyched cuz I might be switching over. Is there any suggestions or things I should know before I go in for a test drive?

 

enjoy it

 

i think test drive is a very important part of buying a car. if u really going to change car. u did better make a research. like wat car is within ur budget. wat kinds car u like. lilke sports car. or a wagon. or.. ya.. do some kinds thing and make sure u going to buy the car is u want. i think u can check out the evo and 350z and g35 also. and the new mustang is coming that's a good car.
check out more car then u will know wat kinda car u really want. but if u really want to pay up the car lease is not a very good way to do that. but if u want to keep ur car new forever.(i mean always driving a new car)lease is a good way to do that. good luck. 8 is a good car. if u really love it. or not . it still a very good car.. ha ha :P

 

I'm pretty sure insurance on the STI EVo g35 and 350z is more than an RX-8.

 

You should know that this is no car for people who care about prices of gas and quality motor oil.

On the other hand you should know that test driving this car is usually the last thing you do before you buy (or lease) it.

Have fun!

 

heh

Good point, if you worry about fluids, the RX-8 isn't for you (and neither is sex)

 

If you OWN your Spec-V, don't ditch it to LEASE something else. If you are shopping for cars by monthly payments, that is a bad sign IMHO..

john

 

As long as that is with no money down, then that sounds about right...

 

No, don't lease. You sound like you have a good head on your shoulders and enjoy the car you currently have.

You'll be renting a car for 3 years with nothing to show after your lease is over. Don't waste your money leasing, save it until you can afford to buy a car. That day will come and cars will only get better.

rx8cited

 

Arrrrrrrrrrrrrrrrrrrrrrggggggggggg


It's about total cost of ownership people.....

 

And unless the car turns into an unreliable pile after 3 years, it makes sense to buy and keep, so that at some point the car is paid off.

Over a 3 year period your TCO might be lower but over a 10 year period if you are ALWAYS leasing something you ALWAYS have a car payment.

john

 

There are some benefits of leasing... If you like to change your car every few years without any strings attached and only care about what your monthly payment is then leasing could be for you. Many people lease for a few years with the option to buy at the end and that sometimes isn't a bad idea. As for the 8 vs. the Spec V there is no comparision. I traded in my 03 Mazdaspeed Protege for an 8. The Speed is very similiar to the Spec V. I would say to go for it and enjoy the car. So what if you don't own it outright on paper. You at least own it for the 2-3 years it is in your possession. Remember posession is 9/10ths of the law. HEHE

Pete

 

I leased mine b/c I usually fall out of love with my cars within 3 years. I want to be able to hand the keys back and drop the car off one afternoon - without having to learn that I'm "upside down" money and have to PAY to trade it in!

On the other hand, I've fallen hard for the RX-8. My other car is a Porsche 911, and it hasn't really gotten any drive time since I bought the Mazda... In fact, I'm thinking about (gulp) selling her. The 8 is that fun.... so, if my miles continue to increase at the current rate on my leased RX-8 I will refinance her for ownership. But, I'll wait to see if the love affair lasts...

Good luck.

 

Yeah, so if you're short-sighted and like to **** your money away by driving a new car every few years, then leasing is the way to go! Never mind that you'll be leasing for the rest of your life.

rx8cited

 

We have no right to tell this guy not to lease. Saying leasing is a bad idea for someone else without knowing them is just plain STUPIDITY. Leasing is good for many people. Not all of us want to own a car, and watch it depreciate into jack squat. Get in on the lease deals that are out now on rx8. It's a smart move on such a risky first year car, and you aren't tied down to it in case it proves to be unreliable. It's an easy way out of committment, kind of like living with someone, then after three years you can either marry her, or leave her for a new partner. NO STRINGS BABY!!!!!!!!

 

And what about all the folks that bought their RX8's and paid full (or close) MSRP. How many years do they need to keep their cars to end up with the same total cost of ownership as these deeply discounted lease deals? I guarantee it's longer than you think.

And when they end up NOT keeping it long enough to blow away the lease deals, do you consider them short-sighted for pissing their money away too?

Assuming leasing is always wrong is as ignorant as assuming leasing is always best.

 

How about leasing it, taking the big incentive and turning around to immediately buyout the lease? Has anyone done the math on this, including lease acquisition fee, re-finance at a higher rate (Capital One is about 5.x% re-finance compared to 3.8x% as a straight purchase loan) etc?
This may be as possible option too?

 

It seems like you guys want him to get the 8 regardless of whether it makes financial sense, just cuz the 8 "kicks so much ***" or whatever. Like I said - if you are shopping for a monthly payment that is a sign that you might not really be able to afford the car.

IMHO - enjoy the Spec V - there are always new cars coming out that are going to be faster, and resisting temptation will keep you from screwing yourself financially. Go out to an autox, or an HPDE, and put that suspension and LSD to work It's not like the Spec V is a bad car!

And anyone who paid MSRP, just to be the first kid on their block, deserves to get creamed on the deal financially

john

 

Viking DJ has a good perspective on the lease vs buy question. Some questions you really want to ask yourself:

1. "Will I be able to stay inside the mileage limits?" If your answer is no, then leasing can be very expensive because of the excess mileage charges.

2. "Do I get the itch for a new car every couple years?" If you answer yes to this and to question #1, you're getting to be a better candidate for leasing.

You didn't say whether or not you own your Nissan outright, or are making loan payments on it. This could be a deal breaker for you. If you owe money on it, you might owe more than the car is worth. The dealer will be happy to roll part of that into your monthly lease payments, but you might wind up having to write a big check to the dealer to get the lease payments down and/or a big check to the finance company to pay off the loan.

This brings me to the last question/comment. In the past ten years new car depreciation has gotten worse as a percentage of initial price. Part of this can be blamed on leasing. Most leases run between 2 and 4 years. When these cars come off lease, they are wholesaled or auctioned by the leasing company, often for much less than the residual (the estimated value of the car at the end of the lease). This means that there are a lot of really cheap used cars available, just when you want to sell yours.

Now for my $.02. Wait a couple more years. You said you really like your Nissan, so there is no real reason to get out of it (unless you really can't afford the payments). Watch the used car ads beginning in late 2005. You should start to see more RX-8's listed, and the price won't be as high. Watch when you buy, too. This is still prime sports car sales time. After the end of September, prices will moderate some.

One last warning. Don't even think of modifying a leased vehicle. Forget the springs, bars, bigger brakes and engine mods. You'll have to put it all back to stock before you return the car at the end of the lease.

Hope you find this helpful in your decision.

 

Also - waiting will hopefully give you a better idea of how long term reliable the 8 is going to be.

john

 

Hey lease haters.. if you're so frugal, what right do you have buying a new car? You know buying used is better in the long run, right?

But I guess if you're so short sighted and like pissing your money away.... :D



BTW, for the record, I've never leased a car. I've bought all of mine, but I'd consider leasing if the situation made sense (like the discounts they're offering now). To bad I can't lease in NY State and the incentives don't apply to a purchase.

 

That's a cold hard lesson for all the niave and uneducated people out there who say leasing is a bad idea. Lease haters who try telling people leasing is a bad idea, need to wake up and look at the big picture. You just got OWNED, so cut your losses and stop telling people how to live their life, when you know nothing about it. I think you need to stick your feet in your mouths, and never dare tell someone leasing is a waste. Either learn a valuable lesson form it, or continue to sound like a complete clueless moron. Good day.

 

OMG, that's too funny.

 

Lease on, it's a free world!

Washington Post article: Your Lease, Your Loss

rx8cited

 

You guys are taking this so personally. I still don't understand why. Unless your mother is a lease there is no need to. You are also making sweeping generalizations like "you know nothing about it" and "never dare tell someone leasing is a waste".

Personally I bought my car new so that I could guarantee that it was maintained properly for its whole life. Maybe I will save more money on that in the long term, who knows. But in 3 years I'll have a title, instead of having to start over. And I plan on driving the car til it explodes. (and when it explodes, I can rebuild it - we have the technology)

I wonder how many of the people leasing are still renting, as well, instead of buying?

Obviously everyone is not always going to do the right thing financially. I modify my car, go to HPDEs, compete in autocrosses, etc etc. It's a hobby, and I enjoy it, so I don't care. (I bought a house first! The gift that keeps on giving) The issue here is not always doing the perfect thing. Most enthusiasts don't, or else we would be driving 3 year old Civics. The issue is not doing something dumb when you're already doing something smart. Leasing a car when you have a car you're already happy with is dumb.

Just because you are either happy with your RX8, or you're leasing for your own reasons, doesn't mean you have to get uppity when someone points out that it's not always a very bright idea. The Washington Post article sums it up nicely.

john