Lease or buy?

[zzthechampion]

I am in the process of getting an Emira but first wanted to explore my options a bit. One question was if I should lease or buy the Emira?

Also I have not been able to find any estimates on what a lease payment versus a finance payment would be so if someone could help me with that information that would be very helpful.
Thanks!

 

[Speedy Emira]

This is such a complicated subject and has many factors such as length of lease, the miles you want to drive, business or private and what’s available.
Personally I’d sooner buy but it depends on what you can afford. Payment up front has no interest but loans with sizeable deposits can be cheaper than finance.
Our work vehicles are a very good price even based on high mileage but I imagine a sports car will be high even on low mileage because they don’t expect lease car owners to look after them as well.

 

[kitkat]

Well this one is simpler than it seems: Do you want to rent or own this Emira?

All the other factors aside, that's what it comes down to.

 

[Superman]

Impossible to know, is so heavily based on your own position, objectives, risk position, potential depreciation, to name a few.... However, I would 'suspect' that leasing may not actually be that competitive compared to other financing solutions. Buying outright is a different proposition altogether.

 

[R35_J]

Well this one is simpler than it seems: Do you want to rent or own this Emira?

All the other factors aside, that's what it comes down to.

Very simplistic approach. Some people own a business and they can lease it through there with a write off. This really depends on the individual.

 

[zzthechampion]

This is such a complicated subject and has many factors such as length of lease, the miles you want to drive, business or private and what’s available.
Personally I’d sooner buy but it depends on what you can afford. Payment up front has no interest but loans with sizeable deposits can be cheaper than finance.
Our work vehicles are a very good price even based on high mileage but I imagine a sports car will be high even on low mileage because they don’t expect lease car owners to look after them as well.

Sorry I didn't want to bog the post down with too many details but this is informative. The lease would be through a business. I WANT to own the car but people are telling me it might be worth to lease it first and then buying it out in 3 years. Their rationale is that if it is a lemon or there are significant problems I am not on the hook for it.

 

[ssim]

Are they even offering leases this early into sales? Maybe a third party lender?

 

[Rainier]

What's the lease money factor / APR people are seeing in USA at this time?
Do Lotus have a USA wide lease plan or is this dealer specific?

Leaning towards keeping things simple and just buying outright,
though also interested in financial analysis of investing the principal in an SP500 Index Fund and leasing instead.

I'll likely replace the Emira with the Type 135 (in 3yrs?)

 

[marc1adrien]

You can also defer the decision: lease now and consider buy out at the end of the lease.

 

[EspritGuy]

You can also defer the decision: lease now and consider buy out at the end of the lease.

Agree. Lotus projected (for me) 69% residual value at 36 month lease end.
In 3 years the ICE run will likely be done, inflation will have driven the (new order) cost up past the FE 2.0 acquisition price. The lease buy-out-value is locked. The calculation depends on your deposit and additional money down.
I traded in a vehicle against my FE and have a friendly payment. Posts in the Forum about Emira depreciation had me wondering why some were so pleased to pay full-on cash for something presumed to lose value. To each their own.
Used car auto loan rates (and lease money factor) will also be decidedly lower in the future than present. See Fed rate cuts.
I'm imagining enjoying a bit of automotive equity concurrent with driving pleasure.
Just a POV to consider. Everyone's situation is different.
#ForTheAffordability

 

[Speedy Emira]

I am in the process of getting an Emira but first wanted to explore my options a bit. One question was if I should lease or buy the Emira?

Also I have not been able to find any estimates on what a lease payment versus a finance payment would be so if someone could help me with that information that would be very helpful.
Thanks!

After seeing issues on cars that come after the warranty runs out I would imagine you would be protected more if your car was on a lease.

 

[RoryBellows]

I think these will depreciate because they are still a Lotus. I think it wont be the worst because they are the last manual mid engine car in America (Paganis and Koenigseggs being out of the reach of almost everyone). I would not buy this car for an investment piece. It wont end well compared to a more traditional investment. I will be doing my best to offset the depreciation with fun. Its also the last chance to buy into this formula.

 

[Tteape0]

Does anyone know what current residual and money market factor are on a lease? Wondering if the money market is better than the 9.5% it was back in May with rate drops.

 

[EspritGuy]

Does anyone know what current residual and money market factor are on a lease? Wondering if the money market is better than the 9.5% it was back in May with rate drops.

Your lotus dealer financing department will know. They are constantly in touch with Lotus USA and Santander which administers the Iease program.
Do you trust your SA to surface this info for you?