Quote:
Originally Posted by darkcloud
I'm all for leasing new cars and the debate rages about that. But leasing a used car!?!?!? Even I'll jump on the band wagon of just how financially stupid that is. No offense to the OP in now way.
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It's not stupid if done right. My friend leased a used vehicle, while under warranty at half the cost to lease a new one. The secret of course it to strike a good purchase prices. The residual drop decreases with vehicles age. In another words leasing a brand new vehicle for 3 years is more expensive than leasing a 1 year used vehicle for 3 years simple because the value loss between year 1-4 is less than between 0-3.
I am not talking about leasing a 5 year vehicle that's guaranteed to need work done.
You can have a bad financial deal regardless of lease new/buy new/lease old. And you can have a good one as well for each of those.