Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Proposal Would Lower Price Of Car Leasing (WNIJ)
That's how they're able to lease a Nissan Leaf for $260/month with only $1500 down. They're using the government rebates to subsidize the lease.
Absent big subsidies you'll pay a lot more for 3 3 yr leases than just buying one new vehicle.
Maybe the tires or brakes need to be replaced just before your lease is up or there is body damage the must be repaired.
If you own, you have more flexibility about those factors.
I've been trying to figure this out and after reading all the posts after, I still don't understand this. I have never leased before so not my area of knowledge to start with, but I do know here, that sales tax is calculated on the price of the car..or at least I think so, are you saying that in some states, tax is calc on suggested list PLUS each monthly lease payment regardless of the term? Meaning that short terms would work out against you compared to longer terms? Altho once out of wty, the waters muddy further..
Trade-ins also come into play, in MN and other states (but not in all states). So when I traded my 2007 Sonata in on a leased 2013 Sonata last year, the trade-in value was deducted from the amount that sales tax was paid on. I wound up paying nothing down, and 35 payments (dealer made first payment) of $47 for my new Sonata. I paid no sales tax... the dealer paid the sales tax as part of the deal.
As someone else noted, in IL and probably some other states, it's different. There you pay sales tax on the full value of the leased vehicle... making leases not nearly as good a deal as in states such as MN.
Or maybe they claim that tax, (they paid up front) and take it out of your residual value if you have any at the end? It's coming back to me why I find leasing confusing.
edit- the part that does make sense to me is at least getting a break on the trade-in. But then of course you should since it already had its tax paid when new if it was purchased. Unless it's ON. They get away with murder here. You can buy a car today. Sell it tomorrow, Buy it back the next day, and get dinged for full tax amt each day like it was the first time
It's a fiscally conservative way of thinking.
If you have a trade, take the equity and invested or save it.
I've also learned that kia charges you 375 as a disposition charge when you hand in the car. Also there's a fee if you want to buy your leased car. I'm back on the buying side of things.
Back in the day, I got my learners at 15 yrs 8 mos, and at 16 got a full license, no restrictions. By then I had been already driving tractors, motorcycles, and the hay truck (manual trans) that we called Brutus. A car was easy in comparison.
However, that was 27 years ago when the county population wasn't 1.2 million. More like 200,000.
I know that a lot of people in Fairfax County liked to lease in the past because of high personal property tax's. Since the vehicle was not owned by the driver, the manufacturer had to pay the 4.5% annual tax based on the book value of the car. So, the state made us pay sales tax on our cars year after year after year. It was hated by all, so the law changed and the tax is now more affordable at about 2.5%.
.
Then there's the unknown factor. What happens if myself or wife gets laid off? What if our credit suffers? Then I would not qualify for another lease with attractive terms, and all of a sudden I am sporting an 86 Ford Tempo.
Anyway, I don't think I will be leasing anything soon.
In South Dakota we have no county stickers, no inspection stickers and no emissions stickers. Nothing at all on the windshield. Refreshing change. Costs less than $50 a year to register a car.
Very driver friendly - 75 mph speed limit with no points for speeding. Can drive by yourself when you turn 14 (if you take drivers ed).
I only do it when I can find a great deal, low payment with nothing up front except maybe the first payment. It has to make financial sense to me to do it.
Dents/dings have never been a problem for me. I've either kept the car (sometimes reselling it for over the residual value since I don't drive many miles) or traded in on another lease. I did that this summer with my 2010 Sentra that was coming off lease. Had several dealers clamoring to take it off my hands and pay off NMAC even though it had a few scratches/dings, but nothing major. Handed it over to the Kia dealer on a Rio lease. That avoided the disposition fee on the Sentra too.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD
I love my non-turbo 2012 EX. After 2 years and 23,800 miles I have had no issues with it.
We have a rewards program too. The local Giant Food ad Shell partnered together. 10 cents a gallon on every $100 we spend. We had 90 cents off last time and it cost $2.05 a gallon here in DC/North VA. (I have 3 kids + my mom and my cousins share).
I envy your being able to live out in SD. It must be beautiful. Is there a good road for testing out your cars specs? Like top speed? LOL
Last year the tax on our oldest vehicles, 1991 and 2002, went up!
Didn't really drive the Fusion this weekend, but I did wash and wax it, so it is looking sweet.
Rain tomorrow, so it's staying in the garage.
My property tax bill should be arriving very shortly, and I would be happy to share the valuation and the tax amount. If folks are surfing these boards and are considering a gently used 2 year old mid size, they should know how much their actual costs could be.
I don't want to be too critical, but we need to remember that a government is nothing more than a body of ungoverned individuals.
I bought my 2012 Mazda CX-9 in 11/2012 and all vehicles sold in 2012 can 'opt-in' to the new TAVT program. If I keep it for five years, I'll save over $2200 by opting-in, which I have done.
Under the new law, private sales (person-to-person), inherited or gifted cars and new residents moving into the state will all be subject to the TAVT. They didn't pay Sales Tax in the past.
There's only one part of the law that makes no sense and it is hurting the leasing business. Leased cars are charged TAVT on the FULL VALUE of the vehicle. So if someone leases a $50k car for 36 months, $3250 (6.5%) will be added to the total lease amount. That would increase the payments by $90 per month!
I guess grass isn't always greener..
So what would you pay in tax on your Optima if your kept it 10 years?
(If you don't get it you can yell at me)
The good part is that the tax amount can be deducted on your federal taxes.
BTW, no sedans in my household. One CUV and two hatchbacks.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Well, it would be $4.57 per every $100 of value, or $228 on a car valued at $5000, but the County subsidizes the first 20,000 of value by 63%, so you would owe $85 on a 10 year old car worth $5000.
So, on a car valued at $20,000/100 = 200 x 4.57 = 914 x 63% = $575.82.
So, then $914 - $575 = $339 Total tax due
I paid about $360 last year and will end up paying about $300 this year.
The original MSRP was 28,500, although we did pay a lot less than that.
In 9 years we have paid about $2500. Kind of depressing.
Zombies and Divas I can handle, but the miserable heat/humidity that we have at least six months out of the year is almost unbearable!
Oh wait...........
You know, my car doesn't like the heat either. I can really tell the Optima is down on power when the heat and humidity are high. It is not just the A/C compressor either. The air has less 0/2 as well I am told. My last vehicle was a V8 and really didn't show the strain as much.
I also still notice the lack of Mazda 6 vehicles on the road. I have not seen one since the last time I posted about it. There are three Mazda dealers within 11 miles, so it isn't an availability problem.
Is Mazda not competitive price wise? I wish I knew why they are not selling more after getting so much good press.
Also, what the heck happened to the Mitsubishi Galant? I remember when they sold pretty good and had all these high-tech features back in the 90's. Hmmm.
Interestingly, advertised Accord leases are only a bit lower than those on the Mazda6, yet Accords are selling well. But Accord has a much bigger reputation and fan base than the Mazda6.
As one of the few Mitsu followers here I'll address that.
The Galant, along with platform mates the Endeavor and Eclipse, were discontinued a couple of years ago. The Normal, IL plant where the 3 vehicles were manufactured was retooled to build Outlander Sports, and potentially other vehicles that share it's platform (Outlander, Lancer, Evo). Sports built in Normal are exported globally.
As the former owner of a '99 Galant I can say it was a good car (reliable, good features & value) and that generation was by and large competitive. I kept it for over 10 years and 152K miles. But the '04 and up gen was not competitive and sales outside of rental fleets suffered. Combine with market issues affecting the Eclipse and it no longer made sense to keep the line going.
Personally I hope Mitsu re-enters the midsize market, even if by no other means than rebadging an offering from another (non-Chrysler) manufacturer. I'm sure that not having a midsize sedan impacts their foot traffic. I wanted them to adopt the Kizashi but I've no idea what Suzuki is doing now that their auto biz has departed our shores.
"Sport" isn't just power to me. Handling is more important than power. And by all accounts the Mazda6 is great there. Also IMO it looks a lot more "sport" than the Accord.
I don't like black cloth seats in general (although my Mazda6i Sport has two-tone grey/black, but I bought the car used on the cheap and I love it otherwise). I prefer lighter color interiors, or black with a lighter accent color like tan, so the interior isn't too cave-like.
There's a few reasons why sales aren't good. At the low end, it is not such a great buy with the standard equipment as compared to other mid-size. At the high end, you get bells and whistles not available on competitors but not the power. If you don't mind a 4 cyl, it's a terrific car. I don't like to provide opinions on specifics since we all have our own likes and dislikes, but since I've been married with a kid, my non-SUV's have been a Camry, Passat and Accord. When I was divorced, I drove Audis and Saabs and I drive my wife's Volvo quite a bit so I'm not judging it in a vacuum.
Pass a law that you must test drive every mid-size before you can get one. I assure you more sales of Mazda, Kia and some others would go up and sales of Camrys would go down.
Incidentally, after months of not seeing another on the road, I saw two this week so I can now report there are four in North Jersey, three of them blue.
Random question for those 'in the know'. I borrowed a db meter and have been checking sound levels in my CRV. Dang it's a loud box. On the meter there is a switch that says "weighted". If it is in that position it makes the sensitivity greater..or IOWs db switch choices..60, 70, thru to 110db, has to be set much higher. To try to clarify, if it is in 'weighted', db position must be set to 90 db in order to centre line swing of 0 db. Which suggests the CRV ranges from 88 to 97db. But...surely not? So when in the non weighted switch, then db position is set tio a more realistic 70 db range which reads about 67 to 78 db in normal driving (idle to about 75 mph). IOWs.. pretty dang loud.
On the Mazda, I would never plunck down $30,000 on a car with 185 HP 4 cyl. No way. I think other feel that way too. There are too many other choices with more scoot for that kind of bread. I think we are saying the same thing. Neither would spend more than $25,000 on a car.
I am saying that the best mid size cars to test in that price range are the Accord Sport, Mazda 6 Sport and Optima EX. For 30,000 plus, it becomes a whole new ball game. One I cannot afford to play w/ three kids!
The Optima is as quiet as I need it to be. In other words; it is so quiet that it's a non issue. I am more concerned with the noise generated by 3 children INSIDE the car, especially after a long trip!
I still turn and look as I walk away from it in parking lots. The exterior details of the Sport continue to impress. The wider tires give it a nice stance. The wheel design is attractive, and the painted gray really hides brake dust well. The subtle lip spoiler and dual exhaust give it a pretty rear end.
Power is adequate, and delivery is smooth. It likes to rev, and the manual gearbox is very good. The interior is holding up well. Seat fabric is very durable, and the faux aluminum trim feels and looks less fake than most, and is not scratched.
Fuel economy is 28.8 mpg over the first 6K, which I think is pretty good for such a roomy car. (The Mazda was 31.5 mpg over 90K.) I am not a speed demon, but neither am I being especially frugal. Just driving it however I like, and noticing very little variation from tank to tank. I never use Econ mode - I like the more immediate throttle response and stronger A/C action in normal mode, and am perfectly capable of backing off and driving smoothly when I wish - and now that it's well broken-in, I don't hesitate to rev it high once in a while, and run along at 75-80 when traffic permits. I haven't been on any long highway trips yet, just suburban commuting.
Here's the Fuelly data (I love this app):
http://www.fuelly.com/driver/ahightower/accord
It's been nice toting around the family of five with plenty of room for all. This car will extend the life of our Yukon, now that it is not our only option for whole-family transportation.
Hill-holding... so convenient! I prided myself on having excellent hill control of my last MT with fast footwork and occasional handbrake, but this is pretty nifty.
No significant problems. The "check fuel cap" message came on last night, and again this morning... I did, and it's fine. I'll have that addressed when I go in for my first free oil change in a couple of weeks, if it's still there. Otherwise, nothing.
The Car&Driver long term test (I think it was C&D) indicated they had brake problems (warped rotors) before 10K, and I've heard of similar problems with many Honda models for a long time. But they now use venthilated front discs which should prove more durable under aggressive driving (which I don't really do). I suspect the journalists are driving like idiots who don't have to make the car payments... and expect no trouble of my own.
I came out of a 2008 Mazda3i and just can't get over what a substantial upgrade this car is. It's so quiet, powerful, and roomy compared to the last car that I honestly cannot fathom spending more for an Acura or what-have-you. Who needs a "luxury" sedan when today's average family sedans are so feature rich and well built? All in all, the best car I've owned so far.
Good to know your accord has room for 5. There are 5 of us & we take my wife's Pilot together when we travel as a family. I might consider something in this category as my next ride when the lease is up on my 328xi next September. It would be nice to have 2 vehicles capable of holding all 5 of us.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD
I feel the need to reiterate: Why does Honda keep the 18" rims for only the Sport model alone, along with the lip spoiler and the dual pipes?
Well hey, if the best looking Accord is $23,500, then I guess Honda doesn't care that they are losing out on lots of EX and EX-L buyers, and the extra profit margins those models bring.
I posted earlier that I thought the Sport most looks like a traditional sport sedan, not a sedan trying to be a sports car. It has a very BMW-esque stance to it. I congratulate Honda for sticking to the recipe w/o being trendy.
I love it.
I have a Fusion Titanium and the Accord the interior doesn't compete in design, as a place to be.
Accord rear passenger area is more comfortable for adults, but nobody will be impressed by it, other than the space.
Just under 10k miles and my average MPG is 28.6. I have been on some long trips.
The Fusion is a heavy car, so it probably won't match an Accord 4 Cyl, but I've exceeded the 33 highway rating several times.
Of course the Fusion has a lot more HP and it's completely effortless power.