Quote:
Originally posted by Torone@Jul 10 2003, 10:21 AM
Frankly, leasing don't make sense to me. You still have all the headaches of ownership, plus you get to pay almost as much as new at the end of the lease...
I used to be in the tv/stereo rental business...we made several times as much renting a unit as we would have selling it. Then we would sell it and get almost full price. Guess who got screwed? The customer!
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It's a little different with autos.
If you're the type of person who is going to constantly make a monthly car payment because they trade often anyway, you can ride in a lot more car for a smaller payment by leasing.
Take a BMW 745iL for instance. Reasonably equipped, you'll drop $75K. It leases for around $1150 for 36 months. Finance that, even at today's interest rates, and you'll be out close to $1400 per month even at 60 months.
With the lease, you know you can get out of the car worst case at 36 months. Even if at that point gas costs $5 a gallon and the car is worth $20K less than the residual value, you're out of the car owing nothing.