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Perfect answer.......
Posted by Roger (more from Roger) on Fri, 16 Jul 2004 05:40:41
In Reply to: No you didn't do it correctly......., Mike Lynch [Profile/Gallery]
, Thu, 15 Jul 2004 13:19:24
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Your calculations show that in the "Macro" sense there really isn't much cost difference between Leasing and Buying - unless the vehicle manufacturer sweetens one over the other.
In the "Micro" sense therre is a distinct advantage to leasing with one big "IF". The advantage assumes the individual has sufficient fiscal responsibility to set aside the savings each month realized by the lower lease payment. The accumulated savings (and any interest gained from them) will pay for the cost of vehicle buy-out at the end of lease.
Unfortunately, many people are lured to leases by the lower monthly payment, spend the monthly savings, and finish the lease with no vehicle ownership/equity or surplus cash (I am related to a few of these individuals). The irony is that those without personal fiscal responsibility (and therefore a very weak household balance sheet) should confine themselves to the higher monthly payment option, while those with better control of their own resources can enjoy the beter deal.
Maybe I'll lease next time - I know I will strongly consider it.
posted by 198.208....
Posts in this Thread:
- OK - excel and finance geeks - lease v. buy, BrianD, Wed, 14 Jul 2004 06:41:34
- No you didn't do it correctly......., Mike Lynch , Thu, 15 Jul 2004 13:19:24
- Re: OK - excel and finance geeks - lease v. buy, Bob Falfa, Thu, 15 Jul 2004 11:09:09
- lease = rent, hdm, Thu, 15 Jul 2004 04:26:55
- Re: OK - excel and finance geeks - lease v. buy, Ernesto , Wed, 14 Jul 2004 16:41:59
- Long standing debate on this topic..., Roger, Wed, 14 Jul 2004 11:35:27
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