anyone planning to lease their 4/2?

[Lewis]

Although I have never leased a car in my life (and I'm 60) my wife and I are hoping the lease terms will be attractive so we can lease the smartcar. We figure that way we can share the risk with PAG. To us the ultimate buy price is more important than the monthly because we hope and expect that we will like the car on a daily basis (we've rented it in Europe) and that it is a success in the US and is reliable and safe feeling in the US environment over time.

While the option to buy at the end of the lease is a must to lease for us, it would be nice to just give it back to Smart at the end of the lease if the smart bombs in the marketplace or proves unreliable or feels unsafe in USA service conditions.

Any thoughts?

p.s. please no generic lease versus buy stuff as answers. the smart is a special case so please respond based on the smartcar's qualities. thanks.

e.g. items we've thought of- 1. low annual miles likely with short haul use only, 2. too short waranty from PAG - a 2 year lease would be nice with a 2 year waranty. etc.- then buy the car at the end of the lease with the extended waranty if we like it! 3. The plastic panels make it more likely to not get stuck with deductions for wear and tear at the end of the lease if you don't buy it.

Seems like there are some good reasons to go for a lease in this situation. But arguing the other side- if you really feel unsafe in the car in US conditions or if the car gives a lot of reliability headaches a lease can be hard to get out of and then you're suffering for 2 years. Also although I would never do this, those among us who would be tempted to sell it on for a quick profit lose that chance too.

So what do you all think?

[jwight]

Good question! I've never leased either but if the 2 year warranty turns out to be real that may be the best option. Lease for 2 yrs and then see if you want to buy another one.

[Lewis]

Or just buy out the one you're leasing if you've had good luck with it!

[spdickey]

Or just pay a few dollars more for the extra year of service (get the maintenance package, too if you want). That would probably be less than the extra money you'll spend on the lease over a cash purchase.

[sisyphus]

I'm seriously considering a 2 year lease for one reason. In two years, might PAG start bringing in turbo and/or Brabus models? I don't expect we'll see them in 2009, but I'm hoping for 2010!

[Lewis]

another good point Sisyphus- for me it would be the diesel!

[sisyphus]

Yuppers, Lewis! I should have mentioned that as well! I drove a CDN 450 cdi and it was a blast! It got incredible mileage as well! Thanks for reminding me!

[nader]

is smart even going to have a lease program? I would think a car this cheap and popular wouldnt need it.

[Lewis]

I believe I recall in the initial publicity the company mentioned they would do trade-ins and leases just like any other car dealer.

Of cause the big issue will be the individual terms- and with two year's orders in hand, and the declining dollar versus the euro I worry that the terms will not be as good as we hope they would be. So I predict that most of us will be selling our current cars privately and buying at the introductory price because that is looking better and better next to what our Canadian friends are paying for their 451s.

I WOULD however be interested in a lease if the terms are financially comparable to the intro pricing for purchase.

[E-SMART]

inexpensive cars. Saw a base MINI ad for $199/12 month lease (yes, that's one year!!!) here in Chicago (Patrick BMW in Schaumburg) so why not a smart?