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Leasing is a convenient way to drive IF... (archive)

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Posted by SL on February 14, 2000 at 09:40:27:

In Reply to: Lease ?? posted by MikeD on February 13, 2000 at 22:02:27:

you keep the car for the term of the lease. You *pay* for convenience, and don't let any of the "I lease so I can invest the money I save and get rich quick yada yada" types tell you any different. Because people would be very fickle about leases if it were cheap & easy to get out of one, in order to assure the profitability of them lessors have the restrictions "J" described if you want to duck out.

OTOH if you buy, getting out is as simple as trading unless you happen to be "upside down" at the time, i.e. you owe so much you have negative equity in your old car, then getting advantageous financing on the new car+old debt could be challenging. Fortunately the "upside down" situation doesn't happen very often with late-model BMWs. The best way IMO if you think you're going to want out early would be to buy on some basis that clearly gives you some equity before you trade.

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