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Michigan | I recently bought the wife a car,(2013 Chevy Malibu with 1200 miles) paid cash. Her previous vehicle was 14 yrs old. Within the last month I've had two friends and one family member tell me they've leased a new vehicle. Not sure of the details,miles allowed,money down or monthly payment,but can't understand why they would lease over buying a vehicle. At the end of the lease period,you turn in the vehicle and walk away,then start over? Would the tax write off advantages be greater leasing vs buying? Lease example= $3500 per yr x 3yrs=$10,500= after 3 yrs,walk away,no value, Purchase example= $4,666 per yr( cash price divided by 3)= own the vehicle
Edited by keving 9/19/2014 05:30
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Why lease a vehicle?
