Comment Re:Leasing a car... (Score 1) 126
"I never understood the fascination of leasing a car for an individual."
A car is a depreciating asset, it never goes up in value.
In that sense, it doesn't make sense to want to "own the car". If you get, say, a TrueCars.com price on a lease, as an example, the cost of leasing versus the cost of owning is razor thin.
But with leasing, you can always get out of the car and into another one with full warranty, a fixed turn-in value and security against unknown events like the car gets wrecks or damaged in an accident (leases state that as long as the repairs are done by a certified shop, that doesn't matter).
Unless you plan on throwing miles on a high quality 100,000 mile car and run it forever, the cheapness and security of car leases if you do it right, is often more convenient than actually owning the vehicle. Buying saves a few bucks a month in the long run and more if you intend to keep it "forever", but most people don't keep their cars more than 3 to 5 years and if that's the plan, leasing has the lower payments and fewer unknowns.
A car is a depreciating asset, it never goes up in value.
In that sense, it doesn't make sense to want to "own the car". If you get, say, a TrueCars.com price on a lease, as an example, the cost of leasing versus the cost of owning is razor thin.
But with leasing, you can always get out of the car and into another one with full warranty, a fixed turn-in value and security against unknown events like the car gets wrecks or damaged in an accident (leases state that as long as the repairs are done by a certified shop, that doesn't matter).
Unless you plan on throwing miles on a high quality 100,000 mile car and run it forever, the cheapness and security of car leases if you do it right, is often more convenient than actually owning the vehicle. Buying saves a few bucks a month in the long run and more if you intend to keep it "forever", but most people don't keep their cars more than 3 to 5 years and if that's the plan, leasing has the lower payments and fewer unknowns.