To lease or not to lease? hybrid edition

Please feel free to comment on this--I will go into further details regarding cost of older used car with great MPG vs. leasing a hybrid with excellent MPG in a later post.

Last weekend, on top of celebrating Mother's Day, my dad and husband fixed the brake pads and rotors on our 2001 Honda Civic. We drove it from central CT back to the Boston area (about 100 miles), then I drove it all over MA the next day (to Sharon, then Burlington for lunch, then to Belmont for a dr. appt, and finally home to Medford). Wednesday's driving totaled approximately 86 miles.

As the day went on, the brakes loosened and were definitely deteriorating rapidly. The last leg from Belmont to Medford was driven slowly and along as many calm back roads that I could stand. I came home and realized that I still had rehearsal to attend in Arlington Center in a couple of hours. I called my quartet mates, and the viola player from Cambridge suggested that I simply take the bus. Duh! That's why I live here!

Unfortunately, in my neighborhood, there has been a sudden rush of assaulting women as they walk around. Justin walked me to the bus stop and stayed with me until the 80 bus came. By the way, the 80 bus is so awesome it deserves its own facebook fan page. In the meantime, one guy walked by talking about how life sucks, and another guy kept following me around the bus stop with his cigarette. People on the bus were not much better--one guy saw my violin, and started strumming the defunct strings of his POS guitar, and then proceeded to have a conversation on his cell phone, which was set to speakerphone. I went to the back of the bus and read my Money magazine.

Anyways, jeez, on to the topic at hand here. I borrowed my friend's car, a 1999 Honda Accord, and loved it. Maybe it's time for a change? We can either buy a used car that's worth a little more than ours is now, or lease some cool hybrid. Let's see:

Some mixed reviews on leasing hybrids...

Head to head review of 2010 Honda Insight vs. 2010 Toyota Prius

I'm having trouble finding any leasing info on the Toyota Prius, so here's some info about leasing the Honda Insight:

2010 Insight Featured Special Lease

$189.00 per month for 36 months. $1,799.00 total due at signing.

Includes down payment with no security deposit. Excludes taxes, titles and fees. For well-qualified buyers.

Show Details

FEATURED SPECIAL LEASE: Closed-end lease for 2010 Insight CVT LX (Model ZE2H5AEW) for $189.00 per month for 36 months with a $1,610.00 capitalized cost reduction available to customers who qualify for the HFS Super Preferred credit tier. Other rates/tiers are available under this offer. $1,799.00 total due at lease signing (includes first month's payment and capitalized cost reduction with no security deposit; total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.

Subject to limited availability. From May 4, 2010 through July 6, 2010, to approved lessees by Honda Financial Serivces. Closed end lease for 2010 Insight CVT LX vehicles (Model ZE2H5AEW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $20,550.00 (includes destination) less the capitalized cost reduction (which may be paid by the suggested dealer contribution) resulting in actual net capitalized cost $18,331.86. Net capitalized cost includes $595 acquisition fee. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $6,804.00. Option to purchase at lease end $12,946.50. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 12000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 12000 miles/year. See dealer for complete details.