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
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.
You will rent everything, own nothing. And you will love it.