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What is everyones thoughts about leasing a Smart?

In 2006 Mercedes-Benz Canada offered leases for the Smart Pure coupe. It came with air conditioning available for $192.00 per month for 39 months, with a down payment of $1,522.00 plus first monthly payment and security deposit of $210, plus taxes due at lease inception.



They also offered a $2000 ecoAuto rebate.
 

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Smart Lease Programs

In 2004 when DaimlerChrysler first presented the Smart Car to the Canadian market that the Smart ForTwo officially came to North America. I do not forsee any lease programs for a long time.

But that seems like a good deal?
 

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Lease

I'm hoping for a lease program just because of the two year warranty; I'd rather lease for two years and see how the car holds up. Hopefully the lease price will be better than what's quoted above. :)
 

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To pay over nine grand in lease fees for a $12K car doesn't seem like a very good deal to me. You nearly pay for it, but don't ever own it? No thanks.
 

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I don't think the 06 Canadian Pure was a $12K car; maybe someone from up north can illuminate this issue. :)

Found it: retail was $ 16,700 Canadian dollars
 

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I might well be interested in a lease partly due to the short warrenty period and the unknowns surrounding a first model year. It will of course depend on the terms vs. a purchase.
 

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I don't think the 06 Canadian Pure was a $12K car; maybe someone from up north can illuminate this issue. :)

Found it: retail was $ 16,700 Canadian dollars
Ah, that makes more sense. If you're pressed for cash, and believe as I think will happen - and the residual value will stay up fairly high, then leasing might work out okay.

That being said, I still would prefer to own my car - things change, stuff happens. Been there, done that.
 

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Unless you are one who needs to keep up with the Jones', leasing ANY CAR is the dumbest thing anyone can do. JMHO......:D
 

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Unless you are one who needs to keep up with the Jones', leasing ANY CAR is the dumbest thing anyone can do. JMHO......:D
The only way a lease works is if you can write off the lease payment fully as a business expense (Uncle Sam then pays for a third of the payment). Otherwise you are almost better off buying it with your 21.99% credit card.
 

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From a numbers standpoint you are correct; I've never leased for that reason. However, as stated earlier, with a new car, first year production, unknown reliability and service issues, steep learning curve for dealer service techs, and the 24K mile warranty, having the option to walk away from the car after 2 years is worth considering IMO. Yes, one could always sell the car but, also pointed out previously, after 2 years one is trying to sell a car with no warranty.

It's a crap shoot and the lease option is just one of many things to consider. :)
 

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TIME to convert it!

From a numbers standpoint you are correct; I've never leased for that reason. However, as stated earlier, with a new car, first year production, unknown reliability and service issues, steep learning curve for dealer service techs, and the 24K mile warranty, having the option to walk away from the car after 2 years is worth considering IMO. Yes, one could always sell the car but, also pointed out previously, after 2 years one is trying to sell a car with no warranty.

It's a crap shoot and the lease option is just one of many things to consider. :)
Valid points for sure, Jwight. If I had any catastrophic failures with my Smart after the warranty went away, that would just give me good reason to do what it is that I originally intended to do....make a Smart EV. If they don't come out with them before my warranty runs out, I may just do it anyway. It all depends on where the present evolution of EV/PHEV is in 2 years or 24,000miles. What better chassis to create an EV or PHEV citi car than the Smart?

So I'm looking at it in a way in which I cannot lose, really. Either way it will work out for the better. Now that's eternal optimism, something I've been accused of being quite alot. Hey...nothing wrong with turning something bad into something good, right? :D :D
 

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From a numbers standpoint you are correct; I've never leased for that reason. However, as stated earlier, with a new car, first year production, unknown reliability and service issues, steep learning curve for dealer service techs, and the 24K mile warranty, having the option to walk away from the car after 2 years is worth considering IMO. Yes, one could always sell the car but, also pointed out previously, after 2 years one is trying to sell a car with no warranty.

It's a crap shoot and the lease option is just one of many things to consider. :)
It would be more cost effective to purchase the extended warranty option than to walk away from the equity that should rightfully be yours.
 

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The car isn't truly a new design, after all Smart cars have been around for 10+ years. There are bound to be a few little bugs, but I doubt anything too major. A lot of us bought MINI's, and they were a brand new design - my club has over 100 members at any time over the last few years and nearly 2,000 on the forum, and there just hasn't been that many serious issues.

As ihoboy stated, maybe a little differently, you could buy the extended warranty for what the cost difference will be between leasing, (and paying it out with eventual purchase) and buying.
 

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I think some believe that leasing is 'the easier way out'. In my experience, it's kind of claustrophobic. If you are feeling the desire to chance vehicles before your lease is up, it's a TOTAL hassle to get out of a lease early or transfer the lease to a new owner. (I bought a very problematic new 2003 MINI, which I sold after 13 months and 11 warranty trips to the dealer. A lease would have trapped me for a minimum of 24 months) Furthermore, you are obliged to keep the car in utterly *perfect* condition which seems easy, until something unexpected happens. I think if you can swing the purchase, do it.. then sell if you're ready early. You also need to accurately estimate your mileage per year. There are significant over-mileage fines.
 

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Lease/buy.

The decsion can only be based on anticipation of miles to be driven, and resale value of the car. If you get a bad car you will take a bath either way.

As Ihoboy has pointed out, lease only works if you can write it off on your taxes. Even then, mileage and wear and tear can cost you big.

For those of us buying a Smart as a toy, an outright purchase makes the most sense.

Remember, if you lease, It's not your car and you cannot change it, or dink with it... How Dull !

A2jack.
 

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I've had leased cars for the last thirty years, but as has already been pointed out, I used them for business travel and could write them off. The smart will be the first car I have actually bought with the intention of keeping it long term since 1978! Buying is always better than leasing for personal use unless you want to indulge yourself with another new car every two of three years. But beware the end of lease inspection!
And Jack is completely correct. You can't mess around with a leased car. You don't own it, you're just paying the bank for the privilege of parking it in your driveway.
Want to have fun with a car? Buy it!
 
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