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| quote: | Originally posted by XaNaX
A lease can be ok if you drive 15K miles a year or less and only like to keep a car for 2 or 3 years.
Since a car is a depreciating investment, the theory of leasing is that you are only paying for the dollar value of the car that you are using. The problem with that is that a brand new car looses value very quickly in the first 2-3 years and then it levels off. So when you sign a 3 year lease on a brand new car you are going to pay them for the vast majority of the depreciation and then had them back a used car with a decent residual value that they can resell.
I'm not in the market for a new car now but next time I am I may look at leasing a preowned car, ideally one that just came off a 2 year lease. In theory its kind of like the ultimate compromise. You get a almost new car every two years that is still under warranty, you can afford a much nicer car than you normally would be able to, and some fool has already paid for the huge chunk of depreciation you take in the first two years.
But if you drive more than 15K a year or you prefer not having a car payment at some point over always having a new car then buying is the way to go. |
Good places to look for that are www.leasetrader.com & www.swapalease.com
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