Need to get a new car. My financial planner says I should lease, but what happens at the end of the 3-yr lease term if I want to buy it? And why is this ever the right move if I plan on keeping the vehicle until it dies? I just don’t get it, ergo this question to this sub. Thanks in advance!
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What reason did financial planner give for leasing? Because in general it costs more in the long run to lease, as you’re either always paying for the highest depreciation period of car ownership or paying unnecessary additional lease fees (acquisition fees and such) if you plan to buy it out at the end anyway, plus paying higher used car financing for the purchase at lease end.
Only way I could possibly see it being beneficial is if you own a business and lease the vehicle through the business.
Except today, lease rates are sky high since vehicles are selling at or even above MSRP and interest rates are high. It’s not like you can lease a BMW for $399/mo. anymore.
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