29th Jul 2020, 22:58
Can you find an article from any reputable financial advisor or finance website which argues that leasing a car is a wise financial decision? Please do that before continuing this debate. If you can’t, that already settles this.
30th Jul 2020, 18:50
I've never leased and never will. Anybody that I know that does usually likes a change every 3 years, which is the average lease period. Sort of makes sense, but is still throwing money away.
30th Jul 2020, 19:06
"Find me any wealthy person who leases cars." Are you trying to make me laugh now? Um, how about the vast majority of them. Save for those who buy Ferraris and Lamborghinis. It would be profoundly idiotic to do anything else. Why do you think luxury vehicles have such steep depreciation rates? Nobody wants to drive a 2015 BMW in 2020! Technology is advancing so rapidly the car is practically obsolete, not to mention they are built in the name of efficiency these days and have over-engineered components that tend to be costly to replace when they fail.
Oh and by the way, I am a financial advisor. I guess that settles that.
You asked for a link to an article. I am happy to provide. I don't want to overburden the server with the complete list.
31st Jul 2020, 03:39
Thank you for alerting us. I will never go anywhere near you for financial advice and won’t recommend anyone else does either.
31st Jul 2020, 03:41
The vast majority of America can’t afford a $400 emergency and has zero savings. Why? Because they do stuff like lease cars. I’m well aware that most cars, particularly luxury ones, are leased. It’s exactly why people never build wealth.
31st Jul 2020, 03:45
You know what’s better than having lease payments or having car payments? Owning a car outright & not paying anything each month. It’s exactly what I do, and I’ll say again that no wealthy person I know has car payments either. Your article discussing how buying a car is dumb proves nothing. It’s dumb because people finance them & buy cars which they can’t afford. It’s a slightly better financial decision than a car lease, but either decision (100% of leases & probably 80-90% of car financing) helps ensure people won’t become wealthy.
31st Jul 2020, 12:45
You’ve lost, sir. You can demean yourself by making insults or you can move on.