How stupid is a Fiesta ST Lease?

I think this makes a lot of sense to my particular situation.

• I have the mighty Kia Rondo, and I am not getting rid of it because I need the space and it is paid off and working well.

• I want something small and sporty to make my daily commute on twisty roads more fun. And because I drive a KIA FREAKING RONDO.

• My daughter turns 16 in a year, and after she proves she can drive, (In the Rondo) I will get her a car. Call it 2 years.

• I have a great motorcycle that I never ride because of kids, weather, etc. If I can sell it, it will go for a little less than what a 2-year lease on a Fiesta ST will cost me.

So I sell the motorcycle, lease the ST and enjoy it for 2 years. Then I buy some minivan thing for me and a used car for the daughter and die happy after having driven a fun car for 2 years of my miserable Rondo-owning existence.

If it makes sesne to you, it makes sense.

I'm sure someone will tell you leasing is a bad idea. I sure don't think so.

It does make some financial sense to lease, depending on the situation. I'm leasing my Fiesta right now. Like you, I don't want to keep it. and I get good prices on F products for some reason...

Why do you need to upsize to a minivan when your daughter gets her own car? Don't people usually downsize when the kids start going off on their own?

jv8 wrote: Why do you need to upsize to a minivan when your daughter gets her own car? Don't people usually downsize when the kids start going off on their own?

I have a two-year old as well, and he is entering the "I need to watch Calliou in the car" stage.

pinchvalve wrote:

jv8 wrote: Why do you need to upsize to a minivan when your daughter gets her own car? Don't people usually downsize when the kids start going off on their own?

I have a two-year old as well, and he is entering the "I need to watch Calliou in the car" stage.

A minivan for 1 kid?

Why not just get a focus st instead of the rondo? Not quite as fun as the fiesta, but much better than a rondo. Or go find yourself a low miles mazdaspeed 3.

Another thought, lease the fiesta, sell the the rondo, find a mazda 5 with a blown engine, you have two years to build a mazdaspeed 5.

Of course 1 kid means minivan just like towing a Miata on an open trailer means an F450.

I have 3 kids the only time they watch TV in the car is for trips over 2 hours one way. You can buy portable dvd players/tablets, etc that attach to the back of the headrest.

By age 4 mine were on a $100 Kindle playing interactive educational games on long drives. Overpriced DVD systems are obsolete.

I guess it depends on when the daughter is leaving the household... for me it was age 18 but in this economy maybe it's 30.

If I was down to 1 kid I'd be looking for the hottest hatch I could afford! (Well, I'm doing that anyway with 2 kids... but my wife does have a Mazda5 for trips)

Ah, well, some good points. I have always had something with a little bit of space and the ability to tow 1000 pounds, and I can't see giving that up. The Rondo allows me to haul dishwashers from Craigslist, and 8 foot boards from Lowes, and take 4 kids to the playground. (I have 2 kids, but each one comes with friends. And carpool duties.) I also tow an ATV, a single jetski, and a utility trailer. Plus I have two dogs that come along often. So I need some space and I figure a minivan or crossover will always be the best option for those duties. The Rondo is also a better place to haul junk and old paint and dirt than something new.

The lease gives me the option of keeping the Rondo for all of that, and then leasing something else or simply buying the Fiesta if I really fall in love with it. If I scratch this itch and move on to something else, I can buy my DD accordingly. Who knows, maybe I want an F250 so I can tow an M3 to the track?

So it's a new week, and I have a Focus ST in my parking spot. It is on loan from a dealer, and the price is right, so it's just up to me if I like it or not. So far...I really like it. It's the closest thing to a 91' turbo Civic Hatch that you can get with a warranty. And to me, that is a very good thing. I can enjoy it every day without having to wait for a track or event, and I can get groceries and the kid to daycare. I think I will take it, but we shall see.

Congrats!

The guys on The Smoking Tire can't say enough good things about the Fiesta ST. I'm sure you're gonna love it.

I think leasing makes sense under certain circumstances:

1) You want/need a new car. 2) You are willing to consider the depreciation on a new car as an expense, 'cause that's the majority of the lease payment. 3) You will only keep the car for a few years. 4) You have no expectation of exceeding the mileage allowed in the lease.

Sounds like you check those boxes.

A poor reason to lease (for example) would be that the payment is lower and you can't afford the higher payment to buy.

-- Your Friendly Neighborhood Financial Advisor

In reply to Basil Exposition:

Another reason that may help #3, and is a pretty common thought on this board- you don't trust the new technology.

(and get off my lawn)

I actually leased my ms3 when I first bought it. BUT I did it with a very interesting plan in mind. When I did it, no one was dealing on them. Doing the lease forced the buy out price down to the manufacturers used car price which was something on the order of 3k cheaper than what they were rolling off lots locally for. Then I turned around and bought out the leased and swung it all under a car loan. I don't think it's a stunt that will work for everyone- because I did it right at the lead of the car and they had NO clue what depreciation would be on it, so I got lucky... but it worked for me. YMMV.

I need a report on the Focus ST, I am looking at one tomorrow

In reply to pinchvalve:

BIG UP pinchvalve RONDO!

Thanks for not buying:

• Suburban
• Excursion
• Durango
• Lexus GX
• etc

You have a great vehicle there. Get the Focus ST lease I think you will love it for two or three years. Then you can decide what is next. Maybe a nice used Focus ST laying around ready for some go faster goodies.

alfadriver wrote: In reply to Basil Exposition: Another reason that may help #3, and is a pretty common thought on this board- you don't trust the new technology. (and get off my lawn)

Agree. I think a lot of folks don't want to own a car past the warranty period, which could be particularly important for certain cars that don't hold up and are very expensive to repair coughBMWcough.

aussiesmg wrote: I need a report on the Focus ST, I am looking at one tomorrow

https://www.youtube.com/watch?v=Gbcj-zE7gBw

pinchvalve wrote:

jv8 wrote: Why do you need to upsize to a minivan when your daughter gets her own car? Don't people usually downsize when the kids start going off on their own?

I have a two-year old as well, and he is entering the "I need to watch Calliou in the car" stage.

I can't stand Calliou, I tell my kids it will make them sick if they watch it.

Autocross friend in Chattanooga is already selling his. Bought a Vette. Poster child for auto-ADD

https://chattanooga.craigslist.org/cto/4581356733.html

I know it won't work for the op's case, but plopping it here in case this thread spurs someone else into contemplation.

I don't get leasing. You make payments for several years and at the end you have..... nothing. I guess if you just really enjoy throwing money away and are the type to buy a brand new car every three years then it might make sense

aussiesmg wrote: I need a report on the Focus ST, I am looking at one tomorrow

These are a pile of fun. I heart the recaros. Best fsctorty seats on the road today.

Love my Focus ST. Much fun is had.

Id drive the rondo for the two more years

Keep the Rondo 25 more years, then import a 2014 Rondo from Canada.