You mean like the guy who had to lease the 40k civic? I don’t care if it’s a type R or SI or the Gold Plated edition…it’s still a Civic.
That guy is making an insane monthly payment for the Type R.
And shouldn’t get gap because the insurance companies make billions off gap
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I lease cause i get tired of them in a year or two.
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Link?
Me scared.
My memory was wrong…Looks like he bought it and didn’t lease…he got it at MSRP though!
Comsumer Reports, CFP certified financial planner Dave Ramsey show, Bay Area Consumers Checkbook, Clark Howard Radio show, and my own CPA have said that leasing is a very bad deal financially and you have nothing to show for after the end of lease.
I noticed that the poorest and least educated tend to always lease whereas wealthy people purchase, not lease.
“I noticed that the poorest and least educated tend to always lease whereas wealthy people purchase, not lease.” Great generalization!
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My first new car was an electric and I leased it because it was cheaper (total cost to own ) than buying used with carpool incentives . Now, I am considering to lease an expensive German because I want a new car with new tech and safety features . It is considerably costlier to own compared to 8 year old ones ( I can buy and fix relatively cheap ) . Still trying to convince my financially conservative side…
I agree - I am dirt poor and not edumacted, so I lease a banging 5-series to make me feel great about my poor life!!!
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So did your CPA say leasing is a financially prudent option? Or was it your emotions that got the best of you?
My CPA drives a 10 year old Camry and wanted me to get a used one as well 
I guess I’m dumb, poor and uneducated too. Amazing how much $$$ you can make these days being dumb.
Cool story bro! I guess my friend who has PHD in marketing and is leasing an Explorer Platinum b/c he got a sweet deal on it, is the antithesis of the person described in your assertion. But we’ll listen to the teachings of grand pooba Dave Ramsey, who makes a living by selling books on how to become less poor to the poor. Fact is, if it makes financial sense to you, do it, wealthy or not.
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This guy is about to take a severe ass beating.
A phd in marketing is not the same as a phd in accounting or finance. Isn’t a lease a financial transaction?
Why do I want to own a depreciating asset?
Because maybe you are paying for the depreciation + interest + fees already ?
Your statement said “least educated” (besides poorest), don’t split hairs on it now. Also, do enlighten us on how you consider a well negotiated lease a poor financial decision, and use numbers like @MoneyTime did - since you’re well-versed into the teachings of David Ramsey. You should be able to back up your statements.
I used to lease because I enjoyed the dealmaking, getting a really nice car for a relatively low payment, enjoyed having a new car every 2-3 years, liked the fixed payments with no repair cost while I was in college and then in my early professional years, and had a second car to soak up extra miles with.
Then I started driving more and more for work…and even worse, it became really variable - I didn’t know if I was going to do 15k in a year or 35k.
Then I had kids. Kids ruin everything!!! Bye bye, second car (S2000) - sold that for $3000 more than I had paid for it, love me an appreciating car. Needed to cut down budget/save for their college and now couldn’t rationalize insuring 2 or 3 vehicles just for myself (In MI, no fault insurance is extremely expensive). Wanted something fun and unique but had to be 4 door and not murder me in repair/maintenance costs. I bought a 2 year old Acura TL SH-AWD 6MT, to try to have someone else eat the bulk of the depreciation as someone above suggested but still enjoy a really nice car. Bought in 2013 for $26k, sold this year almost exactly 5 years later for $8000 and had run it up from 50k miles to 180k miles. So one way to look at that would be $300/mo just for depreciation, another way would be 13.8 cents per mile - basically unicorn dirt cheap for a $45k luxury car. BUT I lost used car repair roulette on that one - I ran over a piece of pipe on the highway at night that punctured my trans case, caused all the fluid to drain out (unbeknownst to me), and my transmission grenaded itself when it ran out of fluid and overheated. My insurance would not cover it. Including total spend on repairs/maintenance on the TL, I would be closer to $400/mo or 20 cents per mile. Not quite as great, and it’s only because I do all the work myself and am generously considering my own time to be totally worthless. So this basically proved to me that this method is probably not cheaper than leasing, for someone like me who is a car enthusiast and would not be happy driving a base model Civic or Camry.
This time to avoid these unexpected repair costs and all my time, I decided to purchase a relatively inexpensive car that I think will have great residual value (Accord Sport 2.0T 6MT), and plan to sell it in ~3 years. According to my calculations, it will be cheaper than anything comparable that I could lease including the potential mileage overages. I recognize that 2 unicorn leases would likely be cheaper, but only certain cars tickle my fancy. I will report back findings 
My wife’s Silverado lease is up in June, so that’ll give me some lease hacking to do as she doesn’t have the mileage issue that I do
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