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      11-25-2013, 11:48 PM   #17
KingOfJericho
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Drives: Yes
Join Date: Aug 2007
Location: CT

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2010 135i Coupe  [2.63]
Quote:
Originally Posted by PINeely View Post
Yup, it's just like renting a house. You pay and pay and pay and when your lease is up you're no closer to owning that house than when you moved in.
That's actually a terrible analogy. When you lease a car, you are essentially paying down the expected depreciation of the vehicle. You can then purchase it for that predetermined figure or walk away. With a rented house, you have no such agreement and the value, in many cases, appreciates, but there is no agreement regarding a purchase at the end of your lease term. The value of a house does not decline due to age or use - the exact opposite occurs with a vehicle.
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2014 Jeep Grand Cherokee Overland Hemi | 2010 S4 Sold | 2010 BMW 135i Retired | 2006 Lotus Exige Sold