Should I lease? If so, in Vegas or SoCal?

Hi! I’m new to leasing, I typically buy used cars. Looking at Toyota corolla or Honda civic, however I currently work from home and am unlikely to drive more than 4-5000 miles a year.

In researching leasing, I’ve read that you should buy, not lease cars like these, leasing is for up market brands. I’ve also read that leasing way more miles than you’ll use is stupid. Almost all deals I’ve seen are at 12k per year. However I’m hoping to get a salary job soon which may entail a commute (and also a raise which would allow me to jump up market for my next car in a couple years, which is one reason I’m looking to lease)

If I should lease, can I get a better deal in SoCal than here in Vegas? I suspect so since there are more dealers there. I’ve read that you can lease in one state and register in another but I’ve seen dealers here say no out of state deals.

I searched the forums for this info but didn’t find it.

Thanks for any advice!

While this is a leasing message board, nobody is here to convince you. It’s entirely up to you.

Many brands offer 7,500 mile leases, which sound like enough for your current needs, and possibly if you end up with a commute. A very common leasing mistake is not getting enough miles up front (see some recent posts about being 5000+ miles over).

Leasing isn’t really for any one category of car, you can lease just about anything. But many makes/models lease better than others. You need to decide if you are shopping the deal (most car for your money) or the car (best lease terms on X).

And depending on all of that, you may do just fine shopping in your local market or going elsewhere. When I was shopping Volvos this past summer, I found the deals in SoCal much better than Vegas. A few years ago when leasing (another) Ford Cmax there were “deals” in SoCal but no inventory: I found a Vegas dealer with exactly what I wanted, and they matched the best deal I could find in SoCal. Probably the easiest lease I negotiated.

Assuming your credit is solid, next step is to decide if you’re shopping the car or the deal, and then start test driving. It sounds like you are still in pre-contemplation.

1 Like

Thanks for your help! Basically my question is, is it dumb to lease if only driving 5000 miles a year, when all the leases are for 12k (found a couple at 10k but that only saves $6/mo)

I’m definitely shopping the deal, I test drove both plus the Mazda 3 and liked them all so am using price to decide. Want all the safety features so Mazda was priced out (need select trim level). Corolla seems to have better tech but Civic is faster and more fun.

One idea I got from this board is maybe offering up the lease in a year or two to a road warrior who could then use the extra 7-14000 miles over the remainder of the lease

My credit is good, I’ll call SoCal dealers tomorrow and see if it’s better there.

Thanks again

You’re effectively renting more utility than you need. The better question is, would you rather rent a brand new car for 2-3 years where you pay for gas and maybe a couple oil changes, vs a used car and everything that comes with that?

As far as “priced out”, remember that there are a lot of variables in leasing. Sometimes the next trim up leases better depending on the residual, MF, or incentives. It’s not just about MSRP across three different brands. Said another way, the cheapest payment is not always the cheapest car. If you like the Mazda best, why not run the numbers and hack the best deal you can on one before ruling it out?

Since you are an aspiring LH, I’m sure you’ve read the FAQs before contacting any dealers, and posted on Edmunds to get the specifics for the exact year/make/model for the lease terms you want?

It’s important when doing your shopping to keep in mind that different vehicles lease very differently, MSRP is a poor indicator of what a lease payment will be, and asking dealers for lease prices are useless.

For comparison sake, I am paying less per month for the lease on a $61k MSRP Volvo s90 than I was on a Civic touring.

1 Like

I do like the idea of finally getting a new car. It’s tough to find a good used car.

I should mention I’m not a great negotiator. I’m not going to get a unicorn, just a solid deal. Yes, I read the FAQs but I guess I didn’t internalize them. I asked for things like MF and RV but didn’t always get them.

The MSRP and lease deal I got on the first round of asks was higher on the Mazda so I didn’t pursue it in the next round.

Thanks again!

There are a bunch of fantastic brokers on here that are great to work with. If you’re not confident in your ability to be a strong negotiator, I would strongly recommend using one of them.

2 Likes

Wow that’s amazing, congrats!

I did browse the leases advertised for BMW and Lexus but everything I was interested in was over 400/mo and 4000 DAS. Which is roughly double what I’m looking at on corolla and civic and I won’t get double the utility from them.

Thanks!

Talk to @Cody_Carter about your Toyota desires. There are lots of people that can help you out with a Honda as well.

1 Like

Thanks, I couldn’t find any local brokers and the SoCal ones all say in state only. Any recommendations would be appreciated

Thanks, I’ll contact him!

It’s worth rereading if you’re new to leasing. What goes into calculating a lease and how to negotiate one.

Any time I’ve posted on Edmunds forums, I’ve received a reply within 24 hours. Be sure to post in the correct forum and give them all the information they need in the first post. You need that to calculate how low you could potentially go (if the dealer made $0). That way when a Mazda dealer tells you it’s $449/mo and your calculator says $299/mo you know where the floor is when negotiating (or if your number is even realistic).

1 Like

Thanks that’s good advice and I will do so in the morning!