I know this is a bit off track,but it concerns leasing does it ever make sense to lease anything? High end electronics,etc;(you all have already convinced me of the folly of leasing Autos)-Kevin
If you are in the market for an upscale car, say $60k and up (not a problem I will ever face) a lease promotion may be your best deal.
Do the calculation and you’ll find that deal is good only if you keep it for 4-5 years…then buy/lease a new one. If you buy a vehicle and keep it for 10 years…when you don’t have any payments for 5 years…buying is the better option.
“I know this is a bit off track,but it concerns leasing does it ever make sense to lease anything? High end electronics,etc;(you all have already convinced me of the folly of leasing Autos)-Kevin”
Of course it does. In many cases leasing is the wiser thing to do. Remember, the monetary aspect is but one part of the decision. It’s not just aobut return on investment. Life isn’t just about money. But only you can make the decision whether leasing a car/condo/flatscreen/furniture/wife (ok, can’t lease a wife) is a better idea for you than buying.
My brother-in-law has a job that requires lots of travel and relocation. I don’t remember the last time he was in one city for more than 3-4 years. In that case it makes sense to least things rather than buy and have to move them regularly. Especially if you’re away 2 weeks of every month and don’t much get to enjoy them anyway
I have a business and can write off the leasing and insurance as an expense. However, it is still more expensive for me than owning if you keep the vehicle 5 years or so.
However, if you are in the kind of business where you need a new car every 2-3 years it would pay to lease. I can`t think of any other instance.
Leasing was developed as a way for businesses to hide debt. You can expense your car monthly without it showing up on the books as a loan.
Paying all the money for a new car and having nothing to show for it does not make sense to me no mater how many ways you distort it.
I suppose if you asked this question to a bunch of CPAs then someone might be able to come up with a scenario where you would rather lease than own but they would be hard pressed to convince me.