Quote:
Originally Posted by 04mazdaspeed
Great looking car! I could never understand the appeal of leasing a car though. I get that it allows you to get into a nicer car for less money but you always have a payment though.
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Under a 6 year period, you are paying less for 2 new cars than 1 financed car. After 6 years, your financed car starts to have an advantage when it comes to money out of pocket. If you plan on keeping your car more than 6 years, you buy. If you don't, then you lease. Keep this in mind: The entire lease payment is subject to a business expense, while your financing payment is not. If you are a business owner, this is something to consider.
The appeal of a lease is real, even financially. Yes, you are paying more, but you are getting into a new car every 3 years. You pay less if you want to drive an old car in 6 years. It actually makes perfect sense.
BTW: I own 2 cars, 1 is paid off, the other is very close. And I lease 2 more cars. The only thing that sucks about having this many cars is the insurance.