so… at the end of 84 months you have ~something of value~. Or at the end of the lease you have… zero… value. Leases make very, very litle sense for the end consumer of things. And… like… used cars are a thing.
At the end of 7 years the car is fully depreciated. Optimistically it’s going to be worth 15-20% of the original value minus any necessary repairs. Legitimately, it could be worth less than zero.
Meanwhile, in that same time, you could have had 3 new cars with lower payments less maintenance issues.
Sorry for the downvotes but I do the same and in my situation it makes the most financial sense. I compared buying to leasing and if I bought a car and traded it in at the end of a typical lease term I would owe more money on the car than it would be worth. Even if I paid straight cash the depreciation would be more than I paid for the lease.
Guys, just lease the damn car.
so… at the end of 84 months you have ~something of value~. Or at the end of the lease you have… zero… value. Leases make very, very litle sense for the end consumer of things. And… like… used cars are a thing.
At the end of 7 years the car is fully depreciated. Optimistically it’s going to be worth 15-20% of the original value minus any necessary repairs. Legitimately, it could be worth less than zero.
Meanwhile, in that same time, you could have had 3 new cars with lower payments less maintenance issues.
Or buy used and stop contributing to that disposable bullshit industry
You will rent everything, own nothing. And you will love it.
Sorry for the downvotes but I do the same and in my situation it makes the most financial sense. I compared buying to leasing and if I bought a car and traded it in at the end of a typical lease term I would owe more money on the car than it would be worth. Even if I paid straight cash the depreciation would be more than I paid for the lease.
I mean, I would rather lease than paying a 7 year note on a car.
That’s crazy. The car legitimately might not last that long.