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what are you looking at and what are the terms? it really depends on the situation.
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Two sedans and a station wagon...
Quote:
Originally Posted by Mr.Al
When you ask someone to assume your lease, you better get the money sent to you and you make the payment, or at least have it confirmed to you that the payments ARE being made.
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CURRENT:
MKIV SUPRA TT( To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. Modding in Progress) - 996 GT2 (Modding in Progress) - C6 Z06 (Tastefully Mod'd) - 09' Benz C300 (Stock)
SOLD:
E60M5(Mod'd) - LOTUS EXIGE S(Mod'd) - E46 M3(469 WHP)
Since most cars depreciate like crazy, a lease will often be a wiser course of action.
Why? Less $ down, generally better APR (Money factor), 'guaranteed' residual (that in most instances is tough to beat if you bought the car), and....you still have the option to buy it afterward if the market value is higher than the residual/payoff.
Then again, if you beat your cars, ding them up, and/or drive 20K miles a year, leasing may not be for you.
My $0.02
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IMO leasing is the way. Its like buying stock with a stop in place. The worst case is the car dumps in value and the residual is way higher than the market price. If you owned it you would be in a world of hurt. With leasing You are only out your payments. If you had paid cash you would take it in the shorts. Also, leasing sales tax is paid on the payment only and the cash you would have used to pay for the car can earn interest somewhere.
If the car is worth more than the residual you can sell it and keep the difference. If you do the math its the cheapest way to own unless you keep a car for 10 yrs.
The answer is, as many stated, specific to you situation. In my case, I like to swap cars often (2-3 yrs) I don't like to modify them, I drive little... so leasing is perfect. Leasing is absolutely more expensive in the long haul unless you have a magic money machine to invest in or have a way to deduct the lease.
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