About to buy: Lease to Own a GSR

[Eric Morse]

Alright, I came across a deal for 2010 evos in my area and the deal ends on nov 2nd. I plan on keeping the car oboviously I just want to get my monthly payments as low as possible for various reasons, not that I can't afford it. The deal I can get is for a 2010 PB GSR with 0 miles. It is $3000 down and $428/mo. The buyout is $15,552 bringing the amount paid for the car to $36096 plus tax from the buyout of ($1,088) bringing the GRAND TOTAL to $37,184 with tax down payment and all monthlys.
All of this is 100% un-negotiated walk in off the street pricing so what should I be able to get down to.
I think this is a fair deal since I will be paying like $430 a month for it compared to $635/mo @ 60mo financed.
The total cost of ownership for the lease is actually $600 cheaper than if I financed it!

This offer lasts for less than a week so I'd have to jump on it but if mitsu does away with the lease program after this week like back in 08 then I won't be able to get one.

It's not like im desperate for a car I have plenty to drive right now that I don't pay on, but i've wanted to build up a brand new evo and its like now or never it seems!

[EvoCop]

I dunno...never been a fan of leases. Takes all the control out of your hands. They still might want to look at the car every year and BLAST you for the mileage. Just something to keep in mind. Plus, lease = no mods and no mods = stick with your BMW.

[MrEVO313]

Originally Posted by evocop

i dunno...never been a fan of leases. Takes all the control out of your hands. They still might want to look at the car every year and blast you for the mileage. Just something to keep in mind. Plus, lease = no mods and no mods = stick with your bmw.

^^^^+1

[mike100]

you might have to factor in finance charges on the $15k residual if you aren't going to have cash to buy out at the end of the deal. In that case, it would seem like it would cost the same as a 5 percent loan for 60 months, but just spread out for a longer term with the option to walkaway... maybe not a bad deal- not as juicy as the zero percent offers though.

you could always wait to see what year end deals bring for 2010's- you won't have a choice of colors though.

[lancer0220]

get a used evo!

[fasfour]

Originally Posted by lancer0220

get a used evo!

X2 on that....then that way you can do what you want to it and not have to worry about turning it in at the end of the lease

[Eric Morse]

I will NEVER buy a used anything ever again from ipods to cars to homes. Being a racer I don't want something that has had its engine started before espically something a mechanic started 0 miles cold motor and launched it a few times.

At the end of the lease im going to write a check and hyothetically speaking I can dump 10gs in mods into the evo as long as its stock when I go to return it, which I won't do anyways because im writing a check for the diff they don't care what shape the car is in since it is essentially sold from the begining

I don't plan on doing more than say 5-7k miles a year so I'm not worried about the limits of the lease. Also I am SET on black, every single car, bike boat, pair of shoes I ever buy again will be black because every time I settle on colour I reget it after a week and don't love it anymore.

But is the total price about what others have paid reguardless of their route to ownership? Other than paying full cash upfront.

[lancer0220]

hate to say it but after you get a black mitsubishi you may regret it and wish you got something that doesnt show swirls and chips so easily. the mitsubishi paint will chip and swirl bad especially on black i have black and sometimes wish i got wicked white but I do understand where you are coming from...

[Eric Morse]

That is a good point there about the color. My bmw is black sapphire metallic and it shows imperfections like no ones business and I raced a white race car this yr and it looked amazing all season.

I just want a 500whp black 2am street terrorizer. Thats 90% my reasoning for black paint.
The white one I saw today was sexy but it had the SSS package and I won't waste 2200 on a sub, 3inch taller spoiler (does look better tho) and I'm putting a cf lip on it anyways so idk.

[hotdog]

Do you plan to do mods on it while it's being leased?

How long is the lease for?

If you don't plan to do mods on it while it's leased, you're basically going to be driving a stock X around for X amount of years, and THEN dump money into it? So you'll be heavily modifying a 4/5/6 year old car?

[TxEvo8]

How long is the lease for? Then we can tell you if it is a good deal or not...

[Eric Morse]

Oh yeah, my bad forgot. It's 36 months. I don't care about voiding warranty off the bat after i do say 1000 miles to see if everythings working right tho.

[casper3043]

Originally Posted by Eric Morse

Oh yeah, my bad forgot. It's 36 months. I don't care about voiding warranty off the bat after i do say 1000 miles to see if everythings working right tho.

well its a better deal than advertised on the mitsu website...

http://www.mitsubishicars.com/MMNA/j...s.do?loc=en-us

i've been looking at lease options also, but the one on mitsu's site is $359/month for 4 years and $3,358 due at signing, which is ridiculous. but if you really want to keep this car for a while, mod it, and enjoy it...then i think you should just buy it outright and finance it without being bound to any contracts. i tend to change cars every couple years, so i'm not sure if i'd make the 3 year lease.

+1 on getting white. the paint and clear on bmw's is relatively thick. i'm jealous of my families 5 series. the mitsu paint is paper thin and the front end of that PB will turn white anyway.

[MR. Tim]

It would be nice to see another X in the Pittsburgh area Eric. That being said, i dont like the leasing idea. Good luck on your choice.

[08GtsLancer]

i no u said the lease is for 36 months but mitsu is offering 48 monthes til 11.2,.09 i thinki i might jump on this its about the cheapest way to pick up a evo x. i think i might do it tomorrow .