Originally Posted By: 1999nick
Have any of you people ever actually leased a car and been financially burned by it? I have, in my 74 years, purchased 28 cars and trucks. Among them are 3 vehicles I leased. All 3 were pleasant experiences. These were a 48 month lease, a 39 month lease, and a 36 month lease. There were never any additional charges at the end of a lease; never a requirement to buy a set of tires or any such nonsense, even on the one with a 48 month lease.
At the end of the 39 month lease, a 99 Nissan Maxima, I purchased it and still own it today.
I enjoyed the idea of a much smaller payment by leasing, and not have to negotiate a trade-in with my next vehicle. Up until 5 years ago, I had always had a car note or two my whole life. Retirement has slowed down my car buying somewhat.
I always leased when I could take advantage of a factory special lease deal. That 99 Maxima was $247 per month, with a $1600 down payment.
And I haven't made a car payment since the 1970's, even though I've purchased a number of new cars (and usually run them until they are no longer fit to be on the road).
Look at all the interest you've spent and all the years of car and lease payments. While you were making payments to the bank, I was making payments to my own bank account and keeping the interest.
Again, with very few exceptions, leasing is a dumb financial move. But there will always be people who want to be seen in more car than they can really afford, so there will always be a place for leases.
