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Really depends on the car. Some have inflated residuals where leasing makes sense.
The premium German brands tend to have very good lease deals. And you don't want to own a BMW or Audi after the warranty expired.
Or EVs. I leased a Ford Focus EV for $240/month and $3k down. Total over three years was less that $12k. MSRP is $30k. Blue book value after 3 years $8500.
$30000-$8500=$21500. Minus $7500 federal EV incentive = $14000. That's how much it would have cost me if I had bought and then sold after three years for BB value.
So leasing was $2000 cheaper and I didn't have to deal with the hassles of selling the car for BB value (which is not guaranteed). And I knew that I only wanted to drive that car for three years because I didn't want to deal with battery maintenance or repairs.
It was a GREAT experience!
I now lease a BMW EV for $330/month and love having peace of mind about warranty work and knowing that I can turn it in after three years.
I owned an Audi TT and that thing was ultra expensive to maintain. One major repair each year for average $5000 a year. NO THANKS!!!!
You can't even get your own criticism straight.
1. Leasing doesn't equate owning.
2. For some people, that is a good thing.
3. Leasing isn't a good idea for everyone. It is a good idea for some people.
4. Insurance is NOT more expensive based on a lease versus a purchase if you get the same coverage. Leasing does require (as does financing a purchase) minimum levels of insurance coverage.
5. Leasing has less risk than buying, but offers less flexibility with what you can do with the vehicle.
Please learn facts before offering incorrect and biased opinions.
When I leased the insurance requirements were higher than ever required when I financed. Dollars wise it didn't make much of a difference but it was higher
When I leased the insurance requirements were higher than ever required when I financed. Dollars wise it didn't make much of a difference but it was higher
Weird.
Mine have never been different.
And it's nothing different. I would have kept collision on there anyway.
Weird.
Mine have never been different.
And it's nothing different. I would have kept collision on there anyway.
Some states have completely different regulations on leased vehicles and that impacts the insurance. I live in one of those states. Insurance on leased vehicles is significantly higher here.
Some states have completely different regulations on leased vehicles and that impacts the insurance. I live in one of those states. Insurance on leased vehicles is significantly higher here.
The only "direct" writeoff associated with a warranty would be if an extended warrantee was purchased. This is exactly the same for a leased vehicle and a purchased vehicle.
Some states have completely different regulations on leased vehicles and that impacts the insurance. I live in one of those states. Insurance on leased vehicles is significantly higher here.
This is not correct.......Leasing companies require higher minimum coverage vs. what the state requires. Not sure the cost of that additional insurance is "significant" unless you had zero coverage and suddenly are comparing the cost of full coverage.
I leased an Audi A8L (84K car) and replaced it with a purchased 67K Mercedes SUV.....the Mercedes insurance was higher!
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