New CR-Z or Old civic?

[cudvig]

I am able to lease a CR-Z for about 303 a month, plus insurance would be 97 a month. Total of around 400 dollars give or take a few dollars. I currently have a civic as a winter beater that has 228k miles. It is doing fine but I was wondering. for only 400 a month I could have an extremely gas efficient car, that wont break, and that I won't have to fix because it will be under warranty.

Would you do it? I could sell the civic for about 2000 dollars. That would be the first 5 months of 36.

Your opinions/suggestions are welcomed :)

[Febo]

Id do it, I dont really see the dilemma here actually.

[Halon]

To each their own, but I personally hate car payments. Even more so if it's a lease where you are left with nothing in the end.

My vote would be towards either keeping the Civic, or buying something you can afford with cash.

That's just me, I hate debt :)

Good luck!!!

[awd-drifter]

To each their own, but I personally hate car payments. Even more so if it's a lease where you are left with nothing in the end.

My vote would be towards either keeping the Civic, or buying something you can afford with cash.

That's just me, I hate debt :)

Good luck!!!

this. ;)

I think if the civic is more than reliable, keep it. Just imagine if you bought my car! hahaha! Car payments FTL. I'd personally keep the civic and have my $400 bucks a month spent somewhere else. 400 a month for me personally, in my situation could definitely go to bills or goin' towards a project car for sure. good luck Colin :)

[cudvig]

Yeah it would be nice to have the extra 400 a month...

But think of it like the civics tranny or engine went out... Then I would be stuck with a non working car... and out 2000 dollars. Where as if I went with the CR-Z I wouldn't have that extra 400 a month but I would have a car that would always be reliable and if it wasn't I would just take it in and get a rental...

-Colin

[Matt D.]

First off, never lease. If you MUST finance a car then get a traditional loan.

Second, I'd just save up some cash and make a huge down payment on a nice car or even pay for it in cash.

[s1ngletracker]

i personally hope to never have to finance a car. Buy a car you can afford that is reliable enough for you to manage. If you absolutely cannot afford something as reliable enough as you need, then finance. Like mattd said, dont lease unless you have gobs of money and just want a new toy every few years and not have to worry about selling or whatever.

[Goat Blower]

The general rule is that if your monthly repair bill is over $200 or it causes you to miss work, you're better off making a car payment. That being said, I would almost always say only buy used, because all but a few cars depreciate by thousands the minute you drive away, and that doesn't stop. But with reasonably priced Honda's and Toyota's, it actually does make sense to buy new because they hold their value so well. Just make sure you're getting a ~4.5% rate if you're a 750 credit score or better.

[slowbubblecar]

But with reasonably priced Honda's and Toyota's, it actually does make sense to buy new because they hold their value so well. Just make sure you're getting a ~4.5% rate if you're a 750 credit score or better.

I agree. I bought a 09 Civic new last year (cash) because if you take a look at the prices of the used ones, it isn't too much more. I ended up paying the base price for the second best model due to a shipping error and didn't need to pay new title registration as well. I travel a bit for work and the car will pay for itself a few times over with the reimbursements I receive if I keep it long enough.

Currently, I have 2 DDs (civic and E55). It doesn't make sense for me to keep the E55 with how much more economical my honda is but I just can't bring myself to getting rid of it.

[rose0529]

I vote keep the civic. I personally don't really like the CR-Z. It is supposed to be a "sporty" hybrid. It still takes 9 sec 0-60 only gets 39mpg hwy and costs $20k-24k. I would think you would be better off buying a base civic for $16k and getting 36 mpg, might be cheaper to insure as well, hybrid insurance is going to start rising a little. They are also offering .9% financing on the civic for 24-60mo. Much better than leasing!

Autoblog sums up my opinion on this car well.... Your $20-23K may be better spent on a base Mini Cooper, Ford Fiesta or Honda Fit – all three cars are just as good if not better to drive as the CR-Z, and their similar fuel economy and far more practical shapes far outweigh our desire to break the mold of the traditional subcompact set.