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Discussion Starter · #1 ·
Alright guys ive got a great deal on an 06 STI Aspen White with goldies but one things holding me back from going through with the deal.

First off its a lease with 3k down for $380/month but i have a question for those who are leasing their STIs..what is the amount of insurance that needs to be carried when you lease this car ? Ive done research over at www.leaseguide.com and theyre saiying you need a minumum of 100/300 of liability insurance and no more than $1000 for deductible but i feel that is wayyy too much, so i decided to ask you guys, thanks for the help i appreciate it.

Oh BTW this is in SoCal, i know insurances vary from state to state, so lets just talk about SoCal if we could, thanks again.
 

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I would think that leasing is a bad idea.

No fun in the mod department.

Save up and buy one!


To more answer your ?-

What kind of property do you have to protect?
Do you like the idea of having your wages garnished?

I don't have a ton of assets, but I still have $500k of liability. People like to sue these days.

I'd recommend paying the small amount extra for the better coverage.
 

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boostin04 said:
Alright guys ive got a great deal on an 06 STI Aspen White with goldies but one things holding me back from going through with the deal.

First off its a lease with 3k down for $380/month but i have a question for those who are leasing their STIs..what is the amount of insurance that needs to be carried when you lease this car ? Ive done research over at www.leaseguide.com and theyre saiying you need a minumum of 100/300 of liability insurance and no more than $1000 for deductible but i feel that is wayyy too much, so i decided to ask you guys, thanks for the help i appreciate it.

Oh BTW this is in SoCal, i know insurances vary from state to state, so lets just talk about SoCal if we could, thanks again.
100/300/100 is the absolute BARE minimum I would carry. I am thinking about upping my insurance to 500k combined limit here pretty quickly, especially after this guy rear ended me when I was at a stop. The higher the insurance you have, the better. I know it may sound weird, but when you need it its great to have it.
 

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LEASE is a no no for me.... its like you are paying the car for the dealer to have... unless you are planing to buy it after the lease is finish...
 

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Those liability limits you spoke of are the bare minimum that are required iirc. Those levels of coverage are required by a leasing co. to protect them from exposure in the event of a lawsuit. Remember the lease co. actually owns the car you're going to drive for the term contracted for.
 

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Discussion Starter · #6 ·
Yea, ive made up my mind, screw the lease. Im going to go pick up an 06 Aspen White tomorrow for $300 under invoice, just got the call 10 mins ago. Im going to finance it with $5,000 down.
 

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Yeah, good call on the purchase.

I was in an open-ended lease which was a bit more unique than the standard closed-ended leases typically offerred by dealerships.
Open-ended allows you to do whatever you want to the car, put as many miles on the car as you want... anything... as long as you either buy out the car at a pre-set residual value, or sell it privately and keep/lose whatever you make, or just hand it back to the leasing company and let them worry about it. The problem with the last option is they'll sell it wholesale and you're responsible for the difference.

This worked out great for me. I bought my '04 STI for $38,500, and sold it over a year later for $38,500, paying back the residual easily and covering the mods I did to my car. Thank you STI's for holding their value :tup:Thank you young kid who wanted my car more than I wanted to sell it :D
 
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