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RE: Buy or Lease?

in #writing7 years ago

Asset is something which brings money in your pocket every month.
Liability is something which takes money out of your pocket every month.

Leasing is not for everyone. If however you reaaaaly want to spend a ton of money for a car which is way over your head (if you would consider financing), you could lease a last year model which was a demo. The two rebates are taken straight out of your monthly payments (residual remains the same). So you could potentially drive a 7 series BMW for the lease budget of an Acura TL...
If you consider another vehicle which has a known used value grossly higher than the residual (few years back it was a Toyota Tacoma or 4Runner) you could then at the end of the lease find a buyer privately.
IMHO lease could be an option if financing would be too high and you may opt to buy it yourself at the end of the lease.

Drive below your means and invest your money wisely and you will always win on the long run.
Personally I spend my money on well used. Enthusiast cars have a following so the potential issues and fixes are well covered. And remember: If a car`s drive is rewarding, then you will put up with having to fix few things here and there. If you hate that car you will hate it even more when it breaks down;D