Leasing a car is like buying a new car every three years. Financially it is stupid. The best financial choice is to typically buy a 3-5 year old car and then drive it into the ground.

You is.

Anonymous wrote:DH and I have been discussing this recently. DH will need a new car next year, most likely. We are thinking EVs, but we think EV tech will change in 3 to 5 years as more and more companies move to EV.

So, DH is thinking of leasing for 3 years, EV or hybrid, then seeing what's on the market afterwards.

This is an interesting perspective.

DH and I have been discussing this recently. DH will need a new car next year, most likely. We are thinking EVs, but we think EV tech will change in 3 to 5 years as more and more companies move to EV.

So, DH is thinking of leasing for 3 years, EV or hybrid, then seeing what's on the market afterwards.

Most leases are 3 years.

If you like a new car every 3 years then it’s cheaper to lease.

If you keep cars for 9+ years it’s much cheaper to buy, but you are driving a 0-9 year old car instead of a 3 0-3 year old cars.

At 6, buying is a little cheaper. But you could have had 2 cars instead of 1. I keep my cars so I buy, but I would lease if I kept them less then 6-7 years.

Anonymous wrote:Financially, yes.

Basically it’s like the long-term rental of a car, instead of owning a car.

Renting long term would not make sense, unless "long term" means only a year or two.

If you don't keep cars for several years, lease. If you drive cars for 10 years, buy.

Financially, yes.

Basically it’s like the long-term rental of a car, instead of owning a car.

Generally it makes financial sense to lease if you keep a cars for 4-5 years or less. My rule is 6+ years then buy, any less the convenience of a lease makes up for a very small cost difference between years 4-6.

But With the inflationary environment we are in the old rule may not apply. Used car prices have boomed but who can predict a few years out.

Anonymous wrote:I’m thinking about leasing exclusively once I hit a certain age. Maybe 65 or 70.

why?

I’m thinking about leasing exclusively once I hit a certain age. Maybe 65 or 70.

If you are someone who likes to have new cars, and you don't trash your cars, then it makes sense. You are paying a premium, but you are paying a premium for something you care about.

If you are happy to own a car for a decade or more, then no, it does not.

pros and cons of leasing. it all depends on what your like and your situation. you can easily google too

No, it's much smarter than buying a new car. Of course I don't know your particulars and there are pro's and con's to anything.

Why or why not?