Hello,

New to the forums (I just introduced myself in the North Central area)

I've just ordered a new 2008 2LT, Summit White with Grey Leather. Am very excited about getting my hands on my first new car ever! Well, as excited as you can be as 35 year old male (and British to boot!) I have to wait until October, as they have to build it from scratch.

I'm going to lease it, as I don't drive many miles, keep my cars in immaculate condition, don't get emotionally attached to a car, and want to get into the habit of getting a new car every 3 years.

Anybody have an reservations with this? I see most of you buy them on this forum. Is leasing such a bad way to go? I've been on leaseguide and think I'm getting a good deal. I could still buy it if I wanted to, but I think the lease fits me better (unless someone wants to talk me out of it!)

 

Depend on payment, if you want to modify in any way, and if you really like GM as opposed to Ford, Honda, or any other non GM make. I was going to lease a camaro before they quit making them. Had payments figured, ready to sign papers. Stopped to think about it and refigured the payments myself. I was going to buy the car almost twice in four years and then turn around and give it back, or pay another ten grand to buy it outright. My experience, just make sure you are getting a good deal compared to buying one.

Welcome to the forum

 

Some people will bash leasing and others will praise it. Do what works best for you. If you want a new vehicle every few years, lease. If you want to drive it until it falls apart, buy it.

Keep in mind that with leasing, you are basically renting the vehicle. It will show on your credit record as a debt owed, yet you can't use the vehicles' value for asset calculations, etc. since it belongs to GM and not you.

I've been leasing for the last few years because the cars I have leased have not been ones that I wanted to keep.

I leased the HHR because the payments worked out better, but I now wish I would have bought it, since I'm going to have to buy it out at the end now anyway.

It's been so much fun to drive that I've already blown the per year mileage for the first year. Figure I'll be 5 or 6000 kms over my allowance by the time my 1 year anniversary rolls around. Multiply that by 3 more years and it's a nasty mileage penalty, so I'll have to buy it out at the end.

 

Welcome to the site. What ever you decide to do, I hope you enjoy your HHR.

 

Thanks for your replies, its appreciated!

I used to be in to modifying my cars in the UK, but now I don't really care so much for it, although I would say I'm always hugely interested in what other people are doing with theirs!

As I said the deal is a reasonable one. It's not $99 a month, that's for sure, but then again, it seems to be a lot lower than buying it over the same period. I'm just looking at it as a 3 year Hertz rental!

 

I had to lease Dory for this exact reason. When I went on dialysis, in order to qualify for medicare/aid and SSI, only 1 vehicle could be owned by me and my wife. Got it on a 4 year smart lease, ran the numbers and figured I'll be paying maybe 3K extra after buying it out.

 

I'm with you Brit. I'm leasing from here on in. I purchased my HHR and I started to lose interest in it about a year or so after I bought it. It's a cool car but aparrently I like to change things up in my life often! I wish I would have concerned a lease but I sort of bought this on an impulse and didn't really think through my decision.

When it comes to leasing be sure to do your homework and really try to calculate the best deal. Try to put down as little money up front as possible as the difference in the monthly rate probably won't vary much as compared with the income that could be derived from that up front money in a bond or other sort of investment account.

If it's available try to meet with a third party to discuss lease versus purchase options. Try a credit conselor or some other service like that. Third party services will likely be able to provide more insight than will dealers who are typically just trying to nickel and dime you for extra cash and aren't always looking out for your best interest.

Good luck with the battle and enjoy the ride.

 

Thanks! I've been looking for a few months, and I've done a lot of research on residuals, money factor, cash price etc. I feel I'm probably ready to work for the dealership! I'm still waiting on finals figures, as my car is being built in Mexico and won't be ready until end of October, however, there could be new incentives etc. that will lower the price still further, and thus my monthly payments. I can hope!

I should whisper this next part, but I'm of the opinion that in 3 years there will be something better looking and more to my taste at the time, and I can give this one back and get the new one - easy as. I'm all for hassle free!

 

I agree with 'Black Rose', do what works best for you. I would never lease a vehicle, I prefer to buy mine. Especially with the HHR, as I have never loved the design of a vehicle this much & want to keep it more than the 3 years a lease would give me.

& I have to say, you have great taste in color!!! SUMMIT WHITE with GREY interior!!! JUST LIKE MY BABY! NICE!!!

 

Thanks! I love the chrome on white (although I nearly went for blue!). Getting high polished 17's with no sunroof or roof rails. I like the minimalist look! I noticed in your pictures you have a spoiler. Was that after market, as they only did it on certain colors?