Reply to Does leasing a car make sense in this scenario?

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[quote=Anonymous]Not a luxury car, but a Hyundai Sonata.  They want to push out the 2015 stock.

- $235/month for 18,000 miles/year, additional $500 down so for three years really $249/month including tax.

- Can buy at 1.79% for five years but to get to $249/month have to put down $7K.

Situation is that I am on a consulting assignment that is 105 miles/day round trip so that pushes it to 26,000 miles/year without breathing hard.  So OK, leasing doesn't make sense.  Next assignment could be 15 miles away but I also go to school part time and even if the closer commute happens, still around 18,000 miles/year.

Did a nine year projection lease vs. buy.  If I buy another car in year 8.5 - 9, leasing winds up costing me $940 or $105/year more ASSUMING my commute gets shorter.  If I wind up driving all over the place, I will get beat up with the mileage charge.

What would you do with all these unknowns?  $7K is not small change for me right now because of school tuition (trying to keep student loans to a minimum).[/quote]

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