Quote:
Originally Posted by Bring_Back_Shantz
That's not true at all.
It's actually working out cheaper for me to lease my truck for 4 years and then buy it out at the end of the lease.
If you sit down and figure out what you're actually paying on the car, and what you intend to do with it (keep it long term, turn it in after the lease, whatever), it may be a better idea to lease, or it may be a better idea to buy. But you won't know until you sit down and actually figure out the whole cost.
In my case, if I have the cash to buy it out at the end, them I'm actually ahead about $1000. If I have to pay it off over 2 years on my line of credit, then I'm breaking even, but I'm actually paying it off over a longer period, so there's added value with that.
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But the Buyout will be higher than the worth of the car, wouldn't it make more sense to buy the same car used at a lower cost and then either pay out of pocket, or run a line of credit for that?
In the end the fact that the buyouts are more expensive than the value of the car is what puts me off of leases.
Plus i couldn't stand the idea that you are "renting" a car effectively.
Edit: If you can write it off and the numbers work out, more power to you.