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Leasing is not always a bad idea Posted by Caarma [Email] (#592) [Profile/Gallery] (more from Caarma) on Sat, 19 Mar 2005 20:11:08 In Reply to: Renting vs. Owning, Kirk, Sat, 19 Mar 2005 18:00:52 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Just some thoughts...
Sometimes, the car manufacturers incentivize leases more than they do traditional financing. So even if you can afford to purchase, you may come out ahead leasing it and then buying it, (although the payments will seem to last forever, but so do they if you lease again). The money rate may be lower on the lease than on the traditional loan and less money comes out of your bank account earlier because you'll probably put less of a downpayment and a lower monthly payment. This is money you can invest in something. And when people say that when you lease, you don't own it, well, you don't when you take out a loan either. The bank owns it until you pay the last cent. That being said, many people get themselves into a vehicle that is more expensive than they should be driving by using leasing.
I always say, if you need two cars, buy one and run it into the ground, and lease the other continually so you always have a good newer reliable vehicle.
posted by 69.246.119...
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