TOC question on lease vs purchase

I have never leased before. I stumbled across this site and have spent hours browsing, but I am still confused on whether buying or leasing makes more sense.

Previous to this, I have always purchased 4-5 year old cars used private party around trade-in value. This time that is proving difficult.

Needing a mid-size AWD SUV. Options are:

  1. Open to leasing any model with AWD, and leather.
  2. Buy a Lexus RX350, or Mazda CX-50, or Toyota Highlander

Is there any scenario where leasing would result in a lower cost of ownership versus buying? I would buy cash. I figure whatever we buy would be kept for 6 years. So that’s two leases worth of ownership.

If total cost of ownership is the most important factor, which direction should I go?

We could run the numbers but off hand with those cars you’re unlikely to financially pencil out better with leasing, especially if you’re ok with a 6-year holding period.

These days, rule of thumb is unless you have a vehicle that leases insanely well, you’re probably better off just financing it.

This is extremely easy. Buy either of the

  1. RX or
  2. Highlander

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