Lease vs Buy
07-31-2007, 03:26 AM
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Lease vs Buy
I have cash ready to buy a vette, but I'm thinking:
If I'm going to take it to the track every once in a while (ok, maybe a lot once in awhile
), and keep it stock until I improve my driving skills to the point where mods would prove useful, wouldn't it better to lease than buy? It'll be under warrenty, and driven hard, so it seems wiser to lease given that it's going to get hard miles on it.
Thoughts?
If I'm going to take it to the track every once in a while (ok, maybe a lot once in awhile
), and keep it stock until I improve my driving skills to the point where mods would prove useful, wouldn't it better to lease than buy? It'll be under warrenty, and driven hard, so it seems wiser to lease given that it's going to get hard miles on it.Thoughts?
07-31-2007, 12:29 PM
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St. Jude Donor '08
Sounds like you are thinking about a new car in which case you have a warranty whether you buy or lease. If you lease the car and put some heavy wear on it my guess is that the residual value will be less than the initial estimate in the contract and you will owe $$$.
If you track your car, whether lease or buy, you will have to pay for consumables (tires, rotors, brake pads, etc.) and needed repairs (wheel bearings, etc). If you lease, you may not be able to add mods necessary to make car reliable for HPDEs/track days such as oil/tranny/differential coolers, larger radiator, brake cooling ducts, etc.
Another approach if you plan to track your car is to buy a used C5. I recommend an FRC. You can get a decent one for around $20K. Look in the C5 for sale section. You the $$$ you save to buy seat time and also figure out mods you might want to do to car.
Good luck
If you track your car, whether lease or buy, you will have to pay for consumables (tires, rotors, brake pads, etc.) and needed repairs (wheel bearings, etc). If you lease, you may not be able to add mods necessary to make car reliable for HPDEs/track days such as oil/tranny/differential coolers, larger radiator, brake cooling ducts, etc.
Another approach if you plan to track your car is to buy a used C5. I recommend an FRC. You can get a decent one for around $20K. Look in the C5 for sale section. You the $$$ you save to buy seat time and also figure out mods you might want to do to car.
Good luck
