Car leases seem to be to good to be true. What's the real deal? How do they work and what are the pitfalls?
2006-11-08 21:46:23 · 3 answers · asked by japhy 1 in Cars & Transportation ➔ Buying & Selling
First, add up all your costs for the 3 years or so that you'll lease the vehicle. Down payment, monthly payments, acquisition fee, etc. Are you willing to throw that money away? You're talking maybe $10,000 on an average car. Then look at buying a new or slightly used car. It won't depreciate that much if you buy it right.
2006-11-09 01:43:03 · answer #1 · answered by Papa John 6 · 0⤊ 0⤋
car leases are great for people who do not drive alot of miles. you can get a very nice car for an affordable payment. they are mile restrictive however and you need to understand that there is a mileage penalty if you exceed the miles. very few people today ever own their car. if you are making payments then someone else owns it. whether it is lease payments or car payments. a car is a depreciating asset. if it depreciates lease it. if it appreciates buy it. makes good economic sense.
2006-11-09 13:42:31 · answer #2 · answered by SKYDOGSLIM 6 · 0⤊ 0⤋
car leases are great for people who do not drive alot of miles. you can get a very nice car for an affordable payment. they are mile restrictive however and you need to understand that there is a mileage penalty if you exceed the miles. very few people today ever own their car. if you are making payments then someone else owns it. whether it is lease payments or car payments. a car is a depreciating asset. if it depreciates, lease it. if it appreciates, buy it. makes good economic sense to me.
2006-11-12 21:27:16 · answer #3 · answered by Anonymous · 0⤊ 0⤋