oh thats right, it depends what you are going to use the car for also. If you return a lease with high mileage they will tax your ass for that too. lol. The dealership has to make some money when trying to resell a now "used" car.

 

The other aspec you can look at also is the residual value of Hondas generally stay high. If the car is worth more than the pay off amount, you have the option to sell the car and then use that money to pay off the buy out amount. This also discounts the lease a bit. The pay off amounts usually are pretty consistant with the value of the car at the end of the lease tho.

 

The way it works in Australia, you commit to a certain number of km minimum, which they then use to calculate the amount of tax to be paid. If you don't hit that minimum, you get hit for extra tax. This causes people to go out driving around in circles just before reporting time to hit their tax km threshold.

If you go over, it doesn't matter because the lease company (mine anyway) put in a generous allowance for fuel when they work out the payments. What you have left in the budget you get back at the end and you can put that towards the next car, or whatever.

They are also pretty conservative with the residual too. They set it to suit the majority of fleet type cars, which tend to be Holden Commmodores and Ford Falcons that have icky depreciation. A lot of people (particularly Honda drivers) buy out their car and sell it themselves and end up ahead.

 

I'd rather buy it than rent it. Thats the way I see it lawlz. Plus if your going to modify the Fit, then rather own it. And also whats your weekly schedule. Leases have limits to the mileage and other crap.

 

Thanks for the help everyone. I definitely intend to own this car, this is probably something I would drive until it dies or until there's a new model. I do plan to do a bit of modding, so owning is probably going to be the way to go.