I don’t understand why there is an interest rate quoted on car leases. How is leasing something different than renting something? If I get an apartment I just pay rent. So how does interest come into play.
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The other biggie is the ability to buy out the car at the end. This is sometimes a tax game where your company leases it then you personally take the buyout at the end as a shell game to save on taxes.
However some companies like tesla don’t offer a buyout. And this can bite you in the ass if the car gets some ‘uninsurable damage’. You are responsible for giving back that car in excellent condition and if you fuck it up when your girlfriends dog got nail marks over the entire interior and all of a sudden you are on the hook to repair that damage. Normally you could just buy the car out at the end.
Generally speaking, leases are for suckers or to move you into a car you can’t afford. Buy the car outright and run it into the ground, or you will forever be cursed with car payments.
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