Why would you buy (rather than lease) something that depreciates as fast as most automobiles? I have never understood the extraordinary need, often a compulsion, that Americans have to own things.
It used to make sense in the housing market, when everyone thought prices would rise forever. We know how that turned out.
The only sensible reason to own a car is the need to drive it more than 15,000 miles a year (the limit in most leases, and overage charges are steep). Or if it has an especially low depreciation rate (i.e., high quality) and you plan to keep it a long time. Or if you got a very attractive deal on a used car. Our listings can lead you to some.
Used car prices are high right now in part because new-car prices just keep rising. Leasing can help beat the high cost of driving, because basically, you pay only for the portion of the car’s lifetime cost that you use. Of course, there are advantages and disadvantages. You need more than ever to be a smart buyer, and there is some good advice here and an explanation of leasing terms here.
We found some very attractive current lease deals, which we’ll pass along, plus a few that are kind of ridiculous.