Quote:
|
Exactly. There is also a thing called opportunity cost. If you tie up $60,000 in a depreciating asset then you don't have it available to earn money in the market etc. Your costs are fixed for 3 or 4 year lease. There are endless pros and cons to leasing/buying.
|
Yes, you raise a good point. Having putting your money to work for you is important as it take money to make money. Personally, I have always bought my car's instead of leasing them, but I can understand why someone would lease. Who know's, maybe I will become a lessee in the future because like you were talking about it is a depreciating asset and the moment you drive the car off the lot the value depreciates. There was a friend of mine in Vancouver, Canada that told me he always bought pre-owned car's instead of brand new cars. He would have his local Mercedes dealership call him when they had a nice car come in for a good price. I think this is a good strategy because by buying a car that is two or three years old you cut out the extreme value drop that occurs within the first two to three years of an expensive vehicles existence.
Whatever anyone choose's to do will be fine. Make sure to enjoy the car because in the end if you drive a nice BMW you are truly lucky.