Lease vs buy question
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Anonymous
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I got a range of finance options on a car from a dealer. Havent decided whch way to go, but one oddity stood out. Does this make any sense? Car is $47k after taxes and all fees out the door.
No money down loan, 72 months @ 2.9% interest. Monthly payment $711 No money down lease, 10k miles, 36 months. Monthly payment $718 Why would anyone choose a lease in this scenario? Is it an error? |
Anonymous
| Well you are comparing it to a 6 year loan. Normal car loan is 60 Months, but yeah it makes much more sense to buy. |
Anonymous
| So they are about equal. But at the end of the loan period you own a car which has some value. It really just depends on whether you want to keep the car for that long. |
Anonymous
| Even after 3 years, wouldnt you come out ahead if you sold? Or is depreciation that severe in that time frame? |