Leased Honda Accord 09 Buy or End lease? Loss?

F

Fawzia

New member
Hi, I am very new to this leasing. I am leasing Honda Accord 09 sedan automatic which costs at the beggining 24,552. And I put 1000 something as down payment and I pay 336 every month. I have 15,000 miles per year allowance. My question is was I better off buying this car. Is this lease deal going to make me lose alot of money towards the end of 3 year lease? Based on my calculations: I will have paid 12098 by 3 years and i think the value of car will depreciate down to 17,931. I am confused if I actually buy the car at end of lease then I would b paying 17931+ 12098 = 30,029 total price to actually keep the car for good? This seems so much to me. Please help!
 
I have honestly never understood what reason you would want to lease a car. You cant go over the mileage or you pay for it. You pay out money and have nothing to show for it in the end. It's like renting a car for 3 years then saying that was nice, and the dealer says oh by the way you went over so you owe us this amount on top of the money you already paid out. I think I would just buy outright then take my losses at the trade in.
 
You would have been better off buying this car. The monthly payments would have been a bit lower and you would own it once its paid for. Leasing is nothing more than a long term rental, once the lease ends you turn in the car and are out of that money. Leasing is good for businesses who buy fleet cars and needs to turn them in every couple of years, but for the average person you should buy the car.
 
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