Quote:
Originally Posted by john70t
I've never understood the concept of leasing a car (i.e. renting) and playing the credit game.
It's nice to drive a new car...but the lessee still pays for repairs ins etc.
$200 x 36mo is $7,200 paid to keep someone else's investment clean.
For $25,000 you can buy a 2020 Prius, drive it for ten years at about the same rate, and then sell it.
2010 Prius' sell for $4-13k now on carsdotcom.
Rust free car and not many miles would equal about half that price back.
|
LOL, I did the maths:
25k purchase price, average $5500 resale (asking price) after 10 years based on los angeles craigslist ads i perused.
effective purchase cost of $19.5k, plus interest.
So lets assume the buyer has good credit and only had to pay another $3500 in interest on a 5 year loan.
That works out to have an effective purchase cost of almost $200 per month. To drive a prius that is 10 years old at the end.
In your post you suggest a prius lease is $200 per month, i'll take yer word for it. i dunno.
But if so, the price to lease is about the same as the price to buy in that scenario
And if you were one of them folks that BUYS new car every 4 or 5 years, a lease would be a whole lot cheaper than the 10- year deal.
it never made sense for me because I used to put too many miles on my vehicles for a lease, and as I got older tended to keep the vehicles longer. but for some people a lease is a much smarter way to go.