And you’ll be driving a 2020 corolla in 2029…
Don’t forget interest also…
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All you “need” is 4 tires and a steering wheel. Nothing more. Anything beyond that is a want and a creature comfort or an “outlet” as you say.
I don’t need the 3 series I’m driving. It is a want. I am fully aware that my money would be well spent on buying a cheap car and driving it into the ground. That’s my choice. That’s your choice. It’s not the smartest idea If you have any debt.
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Would you be able to tell the difference between the 2010, 2020 or 2030 Corolla? 
They have 0% interest offers, like on Camry right now, I would wait.
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Nobody said taking it out over 72 months is smart. If you have to do that, buy a 2 year old one and let the first guy take the depreciation hit.
If you took out a $300,000 mortgage in December of 2007, put $300k into an index fund and paid your $1,347 payment from that index fund account, you would have an investment account balance as of this month (Dec 2019) of roughly $300,000. Suffering a ~40% negative return in year one, and STILL drawing from the account to pay the bills, is the defintiion of “worst-case scenario”. And yet, over time, you still end up OK. It’s nice to make generic statements like “no guarantee of positive return”, but in the real world, it’s a bad financial decision, full stop.
Paying off your mortage early is nothing more than buying peace-of-mind at a substantial financial premium over the most financially advantageous option. There’s nothing wrong with that, so long as you understand what you are buying with your money. You advocate against leasing, which is buying peace-of-mind at a substantial financial premium over the most financially advantageous option (buying a used car and driving it into the ground). There’s also nothing wrong with that, so long as you understand what you are buying with your money. I hope the irony isn’t lost on you. 
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Sure one can live on just the basics but if one has the means to do so I personally feel one should treat themselves: You never know when your number is going to come up.
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The great thing about this site is that it gives options to people that think they can only afford the basics. That’s why I don’t understand people arguing the 10 year purchase price. If they’re so concerned about the extra $500/yr leasing costs over buying then why waste time posting on leasehackr? The few hours a week spent here could easily be spent working and paying down their 3% mortgage/student loans, or maxing out their 401k.
Everyone else is here to get deals on cars they otherwise can’t afford or otherwise wouldn’t want to. To generalize everyone’s financial position and their priorities is quite presumptuous. I just don’t understand posting on a lease website daily only to say that leases aren’t responsible.
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Who’s to say we don’t do both, post here while the company clock is ticking?
Personally, I can see both sides as being “right”, when they apply their own situation. For me, the amount of miles I drive, 10-12 miles per day. I test drove many pre $50k msrp cars and they didn’t blow me away enough to justify leasing a fully loaded luxury sport sedan. It was either buying a $17k econobox, leasing said box, or buying out my current lease with factory warranty with nice amount of options.
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When the math doesn’t work in your favor you shift the discussion to the philosophical side…does this usually work with your friends?
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How does the math not work? No one has put an actual real life situation up. I’ve done the math many times. Unless you wanna drive the same car for 10 years you pay maybe $50/mo more to lease. Worth it…
And before you question my motives. I deal in 50k pickups for $300/mo. Do some math on those…
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$50 is still $50.
Outside tri-state area math gets even worse for lease enthusiasts.
I can trim $600/yr off people budgets in a places that are much more wasteful then their transportation expenses.
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The buy and own for 10 years the same car scenario really only works if you don’t have any unexpected repair surprises. Aside from Toyota, what other brands would be worth considering? To make it more interesting , which brands which are fun/ nice to drive would you consider (Lexus)?
KIA! 
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Your worst-case scenario allows for 12 years of market recovery (and ends with the markets at record highs), but we only had the mortgage for 64 months.
I am not advocating against leasing at all. My comments about being entirely out of debt before getting a new car had a dose of hyperbole, but the point remains that leasing a new vehicle is a luxury, and luxury expenditures should be treated with different considerations than necessities.
By the way, what will that hypothetical $300,000 be worth in the year I retire? I can always get a HELOC or do a cash-out refi and buy index funds.
putting them on saltine/water diet is outside of this exercise.
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“Fun” and “Lexus” do not belong in the same sentence.
Sincerely,
A bored Lexus owner
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$1.65 daily coffees get ya to $600 real fast.
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I’ll also add to this, in that no one has a vehicle where they’ve bought it new, kept it for 10 years (along with a running list of accumulated costs) and kept track of good lease deals at 2/3 year intervals for the same vehicle.
And if this scenario were to happen, it would be anecdotal at best. For ever 1 person that “Kept their Camry running on oil changes and tires for 500k miles with no issues”, there’s probably 10,000 others who’ve had $5k in repairs before 100k miles.
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This conversation has become pretty lame.
People here spend money differently. Cool.
I, for one, want to drive certain types of cars and certain types of cars only. It’s a hobby. It’s enjoyment. I will spend less in other places to increase my car budget. That’s just me. Some people like wine, some tools, some cars (and some like all). Whatever. Live and let live.
We’re just 
a dead 
at this point.
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