Reply to In general, how much more expensive is leasing than buying (if at all)?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This is OP, I actually have plenty of money to pay cash for a car and I’ve never wanted to upgrade my car with my wealth, so I can do either. I’m finding that a  lease seems so easy, and the last two cars I have driven for 10 years required some pretty expensive maintenance towards the end. So I’m just trying to understand the general wisdom on how bad of a deal leasing is. I know interest rates are a factor. [/quote]

If mileage is not a concern, leasing is VERY easy. Like you, OP, I'd internalized that leasing is "bad" but recently leased a car and I would definitely do it again.

I did find that lease pricing is not all the transparent, because of the different levers that can be moved. There are entire online communities devoted to how to negotiate the best possible lease. As a consumer, that felt annoying to me.

I'd definitely lease over buying used in the future. If I could comfortably by new, I would by new over leasing. [/quote]

Yes, in general, negotiating a lease is much harder for the average consumer - the terminology isn't as straightforward as a straight up purchase and the salesmen know this. That's why they always are so focused on what you want your monthly payment to be - they can make the numbers match that payment easily by just changing around the rest of the equation. You need to go into a lease negotiation understanding how it works and what the figures mean, and also know exactly what the Money Factor (the interest you pay) should be. Dealers love marking this up because who actually knows the difference between a MF of .00056 and .00125? It looks like such a small difference! But is is 1.34 pct vs 3 pct.[/quote]

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