whealy

Current Mis offer

2011 Lancer Evolution GSR Lease
Lease: $359 per month / 48 months / $4,058 due at lease signing.*Includes required refundable security deposit.* Excludes*tax, license, title, registration, documentation fees, insurance and the like.

Lease example for 2011 Lancer Evolution GSR , MSRP $34,095 plus $795 ($920 Alaska / Hawaii) destination handling. Available through Mitsubishi Motors Credit of America, subject to approved credit and insurance. Not all customers will qualify. Retailer price, terms and vehicle availability may vary. Other lease terms/details apply. May not combine with factory cash rebates.* See your Mitsubishi retailer for details. Offer valid from 10/01/2011*through 10/31/2011.

RCA4697

I'm also leasing my car. same reasons as ^cla2000. you just got to watch out for the milage.
as far as mods, if you plan to keep the car then i see why not mod it.. some people say not to mod it in case you return the car and that is true. but you can just put it back to stock. i mean there are people who mod and when something happens they put it back to stock due to warranty. same trouble..

EXcel4600c

Renting or leasing is the worst thing....Spend all that money for a few yrs then give it back.

Alpha X

iTrader: (9)

Your not gonna wanna give it back

RCA4697

im not giving mine back..

anyways, there are different kinds of people... other than the evo, i wouldn't mind leasing a car every 3 years.. you pay less, and then you choose another vehicle that you like out there. newer better.. with warranty and no worries of breaking down on you.

then there are the majority whom buy the cars..

at the end, the way i see it and my past experiences, its the same. i bought a car, then after paying it off i started to get problems here and there and no warranty.. sux.. Also, another car cought my attention... keep in mind that i drive my cars.. i don't keep them in the garage..

i love cars, if i could afford it, i would have like 6 cars in the garage..

cla2000

iTrader: (2)

When i got mine, the lease offer was 349 a month, 48 months lease, 2999 down payment. Residual value is 46% of the msrp, no matter what. I allmost got a blue gsr, with no options. The local steelership would not negotiate at all and i realized i can drive to another dealership where they actually wanted to do business. I went to oh, columbus, and got a loaded gsr for 37200. Taxes are included in my 428 payment.
When the lease is up, i will buy it, and than decide if i want to keep it or not. I take great care of all my cars, and i have no doubt that, if my choice will be to sell, which, i highly doubt right now, i am certain i will be able to get at list 25000 on the car 4 years from now. If Mitsubishi discontinues the evo, by than, i am sure the resale value will increase as a result. So, to each his own.
What most of you guys don't understand when it comes to leasing an evo, is tha fact that the deals on leases have changed a lot from just a few years ago, and Mitsubishi 's lease offer is quite great. . In 2007, my buddy leased his sti for 560 a month, and about 5000 down payment. That wasn't a smart choice. Even now, an sti lease still sucks. Almost any lease offer is crap right now, but not all. A grand cherokee, can be leased for about the same as an evo, and the msrp on it is about 30000. That, in my opinion is still not a bad lease, but not as good as the evo.
My point is that not all leases are bad. Good luck with yours if you decide to go that way

mct9891

just leased mine, just make sure the numbers they give you make sense. My residual value if I opted to buy out at the end of the lease was great. The whole car came out to only $1800 cheaper if I would have financed.... but monthly payments would've sky rocketed... I also got the car for $600 below invoice =].
I say go for it.

iamblue03

It really has to depend on what you meant by "the payments are barely affordable."
If 500 a month payment means a lot to you, I recommend finding another car. Otherwise you'll be like some of the owners that got stuck with the contract for a few years. I can tell you you'll probably need to get new tires in the first year of ownership. The insurance will probably kill you too.... don't even mention about the gas money. You are probably needing $800+ minimum per month for the upkeep.

DeeezNuuuts83

If you can barely afford to lease an Evo, don't do it. A few people have mentioned insurance... I work in insurance and am licensed to sell in Florida as well, and Tampa (which I see as your location) is in Hillsborough, one of six or seven counties in Florida where there is a lot of fraud, so rates in those particular counties are horrid, and Florida itself already has very high insurance rates. And of course it gets worse if you have any blemishes in your driving history.

But to the guys against leasing... it's not ALWAYS a bad idea. I'd really do it for something I didn't plan on keeping forever, or for a car that is brand new (meaning it's the first of a new generation) or one whose long-term reliability is questionable (like some German cars, like VWs having electrical issues later on). I was considering leasing a new VW GTI or even the new 2012 BMW 3-Series, but I'll worry about that later. But personally I wouldn't do it for an Evo.

Sev

iTrader: (10)

If you're planning it on buying it anyway but can't afford a buy right now, then it's fine. If you're going to give it back, then don't bother.

Darksun280

iTrader: (2)

The average person takes a lost selling their cars anyway. What you think that money you get once you sell a car is all profit? The only good thing about financing a car imo is that you can sell it when ever you feel to get out of it. Leasing your stuck till the end of the contract or you got to pay some crazy *** penalty to get out of it.

Cars are hands down the worst investment in the world financed or leased.

healthynine

iTrader: (3)

My math here tells me you will pay over $41000 if you buy the vehicle when the lease is all said and done. Assuming you buy it for 17800 (not to mention taxes), you will be able to sell it for a small profit, but not as much as if you owed $0 in an additional 1 or 2 years.

I understand that you pay less now, but in the long run I don't see how it makes sense.

Supraboy1

If leasing was a good idea, only the dealerships would do it. When you lease the dealership still makes money same as a buy.. but in a lease the leasing company makes money plus the back end company that will collect the car and sell it.

Leasing is a bad idea for a personal car. there are a few exceptions. Companies that lease vans, trucks, and the like so they can write off 100% of the lease payment. If you read the Wall Street Journal, Money, Forbes, or any moneywise publication, they all tell you leasing is just not smart. Most idiots that lease are trying to get a lower payment for a car they cant afford.

As a previous posted said.. This is what got America into trouble. " Entitlement" Live within your means.

Johnr352

iTrader: (18)

It depends, no really. A few years ago I would have agreed with every other post here. These days, do the math. Interest rates can be so low as to make a lease look attractive. Here's a way to think about it. The lease is a 2 or 3 year bet. You are betting that you will turn it in because the residual payoff doesn't make sense. The ancillary costs of carrying the lease (cap costs and such) are the "cost" of the bet. So, if it turns out you give the car back then you win, as you drove the car for only the cost of financing on the amount you used (not the residual). Your extra cost was the fees involved in the lease, which are pretty low these days. If the car turns out to be worth more than the residual you win again, because you can then buy the car and resell it, or drive it or whatever. If the residual is higher than the car is worth you can turn it in and walk away. The extra costs of the lease give you that flexibility.

Presuming you want to keep the car, the key is to manage that residual through negotiation at the outset, or by keeping the car (low miles, etc) so that it is worth equal to or more than the residual at turn in time. If you mod it and decide to keep it, fine. Most leasing companies are happy to arrange financing for the remainingresidual value of the car, presuming you have kept the lease payments up and on time.

Risks are if you mod it and want to turn it in you will have to pull the mods off. They won't care about tires, but anything else could be of issue, as they'll ding you for the cost of making it stock (if they notice the mods). Another risk is that, if you decide to keep it you will need a loan for the sidual value at the end of the lease. If your credit is poor or can't afford it, and you've modded it, you'll be sad.

Oher posts speak of maintenance costs and the like. Very real. Do the math, those other costs are very real. If you can't afford the car right now don't get it.

cla2000

iTrader: (2)

yes your math is close by. with tax for that residual 17800 it will be actually a little biyt over 42000.
if i was buying it for 37200, i would have payed about 39432 with just tax. now, if you will add licence plates and title, plus some interest as, i doubt they would give 0% on anything over 3 years, than, do the math. you will see that my 42000 total for my car is not that much higher than buying that same car.