February 5, 2005

  • Pricing this out: say I bought a $23,000 car. After 30 months:

    With a 60 month loan, I would owe as much as it was worth (no equity) and have paid $15,000 with a 7.75% lease.

    With a lease, I would owe nothing and could walk away (no equity) and have paid $8,700.

    That's why I want to lease! With a loan, I would have a vehicle on my
    hands that I couldn't walk away from, yet it still isn't worth more
    than what I would owe. Arggh! With a lease, I could leave after 30
    months or keep it for the full term. No one would care....