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Buy yourself a used 05 model. They can be had for ~12,000 or so with decent mileage. Try searching Traderonline.com

Unless you plan on keeping the mileage really low, a lease may not work out for you. I know that leasing doesn't work for me as I drive 24,000 miles/year.

 

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I have to say, leasing has always seemed like a sucker deal to me. It's not your car, and there are a lot of things you can't do with it.

In your situation, it's possible that your income will change drastically in the next few years. What are the general prospects for your business? If you're looking forward to graduating and getting a decent job in a few years, or selling your garage business and becoming an instant millionaire(!) you can always sell your soon-to-be current car for a new one, even if you haven't paid it off yet.

I'm sure CarMax or a dealership would pick up the paper on it if it was in good condition. You probably wouldn't come out even, but not too bad, either. Or, you could go ahead and pay it off in one shot, then go buy your new one, and sell the old one.

My guess is that financing through the dealer will not get you the best rates, which is kind of the position you're in if you lease. Maybe somebody with more buying savvy than me could give some advice on whether it's better to put a lot down or use the cash in hand to pay ahead on the payments as a way to limit how much interest you end paying.

Since you're not a college grad yet, you may get lower insurance by having your parents co-sign; see about that. In any case, good luck!

 

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k, lets see, im 18 and im leasing an '07 mazda 3

-it's completly base, the only thing extra it has is air conditioning

-my dad put down a $3000 downpayment + the $1500 they gave me for my '92 civic

-my lease payment are i believe are $210 a month (this is all CDN dollars by the way)

-i've had my car for about 1.5 months and i've put on 1300km.

-and i can do alot of things to my car, the only exception is that i have to buy them through mazda, so like, wheels, trim pieces, lowering kits, spoilers, fog lights, stuff like that. and i read that they're working on a exhaust package

oh, and for insurance, im under my parents name, and i pay $200/month. so its pretty sweet, i can pay the insurance/lease/gas all with one paycheck

and as for leasing an '06 model, there might not be any left....at least there wasnt when i went to my dealership last month

oh, and the higher the deposit, the lower the monthly payments.....right?

 

Well I just bought a 2007 Mazda3...The asking price was 18 something...I put $2000 down and brung my car down to 16 something...I am 18 and I was a first time buyer myself....I bought the car in Salisbury Maryland @ Mazda...They have a first time buyers program..Where they will finance young kids that are atleast 18 years of age...I bought the car, I didn't lease it out....My payments are $324.18 and my insurance is also $318..I love the car, they are short looking but, they have alot of space...But, leasing is always a good option also..Depending within the 3 or 4 year lease...But, if you decide you want to keep the car after 3 or 4 years you can buy the car out...But, don't forget some car dealerships only want you to much s much miles on the vechile...

 

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I got mine (absolute base model but w/AC) with the company discount for $15K out the door. The car I wanted was in Grand Rapids (~120 miles away) and my dealer was able to trade the GR dealer for the car. It didn't cost me anything to do this.