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Reply to "Car Buy vs Lease Pros and Cons if we have the cash"
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[quote=Anonymous]We are getting a new Volvo SUV. The price out the door if we were to purchase will be nearly identical to the NPV of lease payments + residual at. 4.5% discount rate. We’ve never leased before but are open to it because: PROs 1. Keeps our cash flexible 2. Never owned a Volvo and want to make sure it’s not a dud 3. Possibly easier to negotiate slightly better terms at the last minute if we lease because it seems dealerships make money via financing But there are also CONs: 1. We have the cash and a 4.5% discount rate is kind of high? I guess. We don’t have much other debt besides for a cheap mortgage. 2. Worried we won’t keep the car clean / nice enough (we don’t have a garage and have a toddler) 3. Hassle of more paperwork and logistics now and later. We aren’t likely to want to upgrade and get the new best thing in 3Y. Drove our last car for >10Y. 4. Gap insurance may be slightly more expensive? Any other pros and cons we should consider? [/quote]
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