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I work for a dealer and I can tell you guys advice for leasing. Some people say leasing is a bad thing, but most of those people who say that have never leased a car before. I am here to say its not out to get you. You pick your miles and term. A proponent of leasing would tell you you wouldn't buy a piece of property if you knew in three years it would be worth half what you paid? you wouldnt buy a stock if you knew in three years it would be worth half? so why purchase a car.. unless you drive it till the wheels fall off.. id say lease. its less money down, less monthly payment, you can get more car, and you are only committed for half the time. Statisticly, 72% of people who finance a vehicle never see the title to their car.. meaning the never paid it off before trading. Technically they never owned anything. You cant be upside down in a lease either. it comes with a guarenteed value at the end of the term. If you get in an accident in a purchase, you lose 20% resale value right there. In a lease, as long as its fixed when you turn it in, there is no penalty. so i also believe there are some protections as well.
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