Why Leasing Is a Great Idea

2014 Mazda3: Would you lease or buy?

2014 Mazda3: Would you lease or buy?

People are discovering the car lease all over again.

That’s a great thing, because it means more new cars are moving off dealer lots, more people are driving nice cars at reduced rates, and the used market benefits from high-quality lease returns. There really aren’t any losers in the car lease world, except the people who lease when they shouldn’t.

The one drawback to leasing? Lease customers never do pay off their cars, meaning they always have a car payment and own nothing at the end of a lease.

For a lot of people, though, that makes sense.

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When the Lease Temptation Finally Takes Over

2012 Subaru Legacy sedan

“Son, don’t ever lease a car. It’s never a smart decision. You’ll lose money, and you’ll never be able to break the cycle once you start. You’ll have a car payment forever.”

That was my dad’s advice to me ever since he started giving me car advice. That and, “Never buy a Chrysler. Unless you want the engine to blow up.”

Fast-forward a couple decades, and I find out my parents got a new car, a 2012 Subaru Legacy. Then the kicker: “We got a really low lease payment on it,” my dad said.

I just about blew some perfectly good rum and Coke right out my nose.

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