Lease Car for Teenager

[Anonymous]

We are shopping for used cars for teenage driver and anything decent with no mileage going to cost $15-20k.

I then saw an ad for a new Honda Civic lease. You can get the basic level Honda Civic for $2,999 down and monthly payments of $189.
A 36 month lease will end up costing $9,803.

Anyone done this?
What is the downside, other than giving a new driver a brand new car.
Maintenance will be a minimum, comes with a warranty.

[Anonymous]

Just buy a new civic. It will cost you way less for three years with your equity. You’ll be able to sell it for almost new prices after three years if you want. Plus, teenagers wreck cars. If you lease, you’ll have to fix everything.

[Anonymous]

Anonymous wrote:Just buy a new civic. It will cost you way less for three years with your equity. You’ll be able to sell it for almost new prices after three years if you want. Plus, teenagers wreck cars. If you lease, you’ll have to fix everything.

Please reread the bolded sentenced, and think for half a second.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just buy a new civic. It will cost you way less for three years with your equity. You’ll be able to sell it for almost new prices after three years if you want. Plus, teenagers wreck cars. If you lease, you’ll have to fix everything.

Please reread the bolded sentenced, and think for half a second.

Umm, ok.

[Anonymous]

You can get a brand new civic in that range. Put down the money you would on a lease, and your payment will only be slightly more per month. Then you’ll have the asset.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just buy a new civic. It will cost you way less for three years with your equity. You’ll be able to sell it for almost new prices after three years if you want. Plus, teenagers wreck cars. If you lease, you’ll have to fix everything.

Please reread the bolded sentenced, and think for half a second.

No need to be rude.

[Anonymous]

https://www.cargurus.com/Cars/new/searchresults.action?sourceContext=homePageNewCarTabMobile_false_0&selectedEntity=d586&zip=22207

[Anonymous]

It doesn't make sense as what happens in 3 years? You still have to buy or do another lease. Also, they may not be able to take it to college for freshman year.

[Anonymous]

Anonymous wrote:It doesn't make sense as what happens in 3 years? You still have to buy or do another lease. Also, they may not be able to take it to college for freshman year.

In 3 years they leave for college. No car at college. They graduate in 4 years, get a job and buy own car.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It doesn't make sense as what happens in 3 years? You still have to buy or do another lease. Also, they may not be able to take it to college for freshman year.

In 3 years they leave for college. No car at college. They graduate in 4 years, get a job and buy own car.

Mthen sell the car after three years for maybe $24k. You paid $18k for it. You will be much more ahead vs leasing. Leasing a civic is idiotic.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It doesn't make sense as what happens in 3 years? You still have to buy or do another lease. Also, they may not be able to take it to college for freshman year.

In 3 years they leave for college. No car at college. They graduate in 4 years, get a job and buy own car.

Its typical for parents to give the car. Idiot

[Anonymous]

My parents bought me a Civic, but were clear, painfully clear, that it was not my car, it was a family car. They bought it to make their lives easier. I drove it on the condition that I was my sister’s chauffeur. I didn’t take it to college, because they needed to have her drive herself around during high school. I got the car again in late college, because I went to school farther away, and they were sick of driving me. Eventually, they gave me the car as a college graduation present.

[Anonymous]

Anonymous wrote:We are shopping for used cars for teenage driver and anything decent with no mileage going to cost $15-20k.

I then saw an ad for a new Honda Civic lease. You can get the basic level Honda Civic for $2,999 down and monthly payments of $189.
A 36 month lease will end up costing $9,803.

Anyone done this?
What is the downside, other than giving a new driver a brand new car.
Maintenance will be a minimum, comes with a warranty.

Most rental car places won't rent to someone under 25. Are you sure leases don't have a similar age restriction?

Also, we bought an almost new CPO Kia Soul for our DD for way less than $15k. Recently. In the DC area. It can be done.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just buy a new civic. It will cost you way less for three years with your equity. You’ll be able to sell it for almost new prices after three years if you want. Plus, teenagers wreck cars. If you lease, you’ll have to fix everything.

Please reread the bolded sentenced, and think for half a second.

No need to be rude.

Different poster but this makes no sense. Buying a used Japanese car is likely the smart play. Not new or leased.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just buy a new civic. It will cost you way less for three years with your equity. You’ll be able to sell it for almost new prices after three years if you want. Plus, teenagers wreck cars. If you lease, you’ll have to fix everything.

Please reread the bolded sentenced, and think for half a second.

No need to be rude.

Different poster but this makes no sense. Buying a used Japanese car is likely the smart play. Not new or leased.

Used civics see VERY little depreciation. If you can finance with low rates it may end up cheaper over life of loan vs used car rates and used car price.

What about a Honda Fit?