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Cars and Transportation
Reply to "Car Lease - 45K car - zero down?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It depends on the car and the residual value. [/quote] this is the right answer. The cost of the lease is the cost of the car less the residual value times the money factor, so change any one of those factors and you change the monthly payment. With a few exceptions (like people who can deduct lease costs as a business expense, people who plan to buy a new car every three years, and some electric vehicle leases), leases are generally a bad financial move. In fact, big car payments are an easy way to blow a hole in your monthly budget so I'd encourage you to think twice or 3x about whether that's really the best use of money for the next 3-5 years. [/quote] I used to work for a large automotive company that had an in house finance shop, and agree with these PPs.[/quote]
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