Submitted by SquishyEmerald t3_1278qjt in explainlikeimfive
blipsman t1_jeetocb wrote
What reason did financial planner give for leasing? Because in general it costs more in the long run to lease, as you're either always paying for the highest depreciation period of car ownership or paying unnecessary additional lease fees (acquisition fees and such) if you plan to buy it out at the end anyway, plus paying higher used car financing for the purchase at lease end.
Only way I could possibly see it being beneficial is if you own a business and lease the vehicle through the business.
Except today, lease rates are sky high since vehicles are selling at or even above MSRP and interest rates are high. It's not like you can lease a BMW for $399/mo. anymore.
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