Question about car leases

[Possible]

I'm 74 and I told my kids if they inherit anything, I mis-calculated.

Amen, bruddah.

 

[Rogue Hawk]

Sounds pretty complicated. I would not be able to write it off, so it may be not for me. But I wonder if it's economical if the car is expensive.

 

[Possible]

IMO unless you can use the lease amount as a deduction, or better yet as a credit, it is never going to be economical.
Look at it this way, is it economical to rent a car from Hertz?

OTOH, if you are determined to own $30,000-$40,000, or more, automobiles, and you want to drive a new one every
2-3 years, then it may indeed cost you less to lease/rent that vehicle. But it's never going to be "economical" in the
strictest sense of the word.

 

[Tango]

The best lease is a no money down, zero drive off. VW does it often. Others also do it when the inventory on a particular model is too high. BMW once in a while also. opcorn: Tom :spyder:

 

[Spyderman2018]

You forgot to factor in a down payment - usually between $1500.00 - $3000.00, depending on vehicle......

 

[wyliec]

Sounds pretty complicated. I would not be able to write it off, so it may be not for me. But I wonder if it's economical if the car is expensive.

It's not complicated. You know what you can afford each month as a payment. I'm pretty sure you have some idea of what car/cars have your interest. Go to the dealer and compare the monthly pricing for both leasing/buying.

Everyone has their own story to tell. I leased my 2018 Wrangler for $320 a month/ 3 years. The same vehicle was around $500 for 5 years, if buying with the same money down and the discounts I mentioned previously.

Not to change the subject, but you must be getting along with your new boss, old by now. Good luck.

 

[IdahoMtnSpyder]

I know how to estimate a normal loan based on a car's price. But how do you do the same thing with a lease?

As you've probably figured out by now, you don't.