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]

Originally Posted by 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!!!

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]

Originally Posted by Goat Blower

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.

[Kracka]

The new CR-Z is unique, but I don't think it's unique enough to warrant me to purchase one unless I was set on buying a hybrid. I've seen a few in person and they do look kind of cool though. I'd probably go after a Civic or Fit instead. Otherwise Hyundai is putting out some decent stuff lately (if you want a cheap and reliable A to B car) and I think the Lancer would probably be the most fun of all the compacts.

[A//// Guy]

I saw that thing at Honda this weekend and the front looks nice but the rest is uuuggly.

You are better off either keeping your old civic or getting rid of that, taking a short term small loan out for a used civic with low miles or something similar and rock it.

[craig]

I would just keep the civic until it dies then worry about getting a new vehicle.

[cudvig]

I honestly have little to no time to fix a broken car. I work 40 hours a week plus have 14 credits of school. I am focused on getting As so I study quite a bit more than normal. I also have drill some weekends, oh and a gf on top that lives in Mankato. That's the reason I thought this might be reasonable to do. I don't really want to take out such a huge loan to buy one and insurance is about the same as a new civic. I called on it today, told them to find me a white, 6 speed, EX(HIDs, better sound, blu tooth, heated mirrors and fog lights) and I will come out and pick it up. I just need to have an extremely reliable car. Not saying the civic isn't, and I love the way the CRZ feels, I don't give a crap if it is slow... It looks nice, gets good MPG and is affordable.

[rose0529]

You could buy a new civic EX for that same price a month almost i'd bet. They offer .9% for 60mo. The payment with 2k down (same as that lease offer) with out haggling the price at all (i bet you could get a good deal on a 2010) would be about $320 a month and you would get to keep the car in the end!

Just saying.

also, I know mini's arent what you're looking at, but another example. They are also offering 0.9% for 60mo, and they also have 3 yrs no cost maintenance.

And if your going to be driving to mankato i would guess often to see your gf. That is gonna add on the miles fast! and you'll end up paying for each mile over the amount you agreed to in the lease! I know someone at work that just had to pay $1500 extra when she turned it in because she went over! She bought a nice used car this time around!

[Matt D.]

Originally Posted by cudvig

It looks nice, gets good MPG and is affordable.

A lease does not make a car affordable. Do the math. Go find yourself a certified used Honda with an extended warranty and get a loan.

Read this: http://www.daveramsey.com/index.cfm?...ntItemId=10367

[MATCHBX]

Originally Posted by Kracka

The new CR-Z is unique, but I don't think it's unique enough to warrant me to purchase one unless I was set on buying a hybrid. I've seen a few in person and they do look kind of cool though. I'd probably go after a Civic or Fit instead. Otherwise Hyundai is putting out some decent stuff lately (if you want a cheap and reliable A to B car) and I think the Lancer would probably be the most fun of all the compacts.

Hyundai is doing some pretty good stuff with their cars lately. My ex bought a 2004 Elantra and has had no issues with it. My wife also owns a 2004 Elantra and it has been flawless all while getting mid-30's for mpg's. The new ones are not quite as drab as the 2004's were also. They do have one of the best warranties out there as well. Plus, they don't get noticed by cops as the CR-Z might. And definitely don't get targeted as much by thieves as the civics do. Might be something to look closer at before jumping into a new civic. And this is coming from a very die-hard honda fan for reliable vehicles. I put Hyundai into almost exactly the same class as Honda for reliability. Hyundai is just more reasonable on their prices.

[Kracka]

Mitsu is offering 0% for 60 months on Lancers (just throwing out more info to go along with Rosey's).

I understand your reasons for wanting a new car that you don't have to worry about. I'm sure the CR-Z will serve you well. You really should look into purchasing it rather than leasing it though. Your lease will cost you nearly $11k over 3 years; with how well Hondas hold their value if you were to just buy the car at current offers then sell it in 3 years you would come out much further ahead.

[cudvig]

I should of added the fact that I am not taking out a loan and do not want to be paying for the same car for 60 months...

And it is worth itto me to have a car that will be under warranty. Oh and I also have my miata in case I get even near 36k after three years, which I won't even get close I drive about 8000 a year...

[cudvig]

Oh and I like the options it comes with.

Mini coopers are boring, so are the new lancers and they don't hold their value at all.