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Reply to "In general, how much more expensive is leasing than buying (if at all)?"
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[quote=Anonymous]Leasing allows you to drive a more expensive car than you’d want to by buying. The payments are often less and you don’t have to spend money maintaining a car. You can drive a new car every few years.. BUT you never get rid of payments. The first lease seems like a wonderful deal. Then you go into your second lease and you don’t receive any money back for the car you’re turning in. You also have to continue having car payments. A much more prudent decision is to BUY a car and take on a 3-4 year loan followed by 3-4 years of NO car payments. The exception is if you’re leasing for your job OR you have so much money that it doesn’t matter to you. But if you’re the typical MC/UMC family, it doesn’t pay off in the long term to lease. Anecdotally, the families who lease are big spenders in general. They are truly convinced leasing is better financially. [/quote]
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