Posted by JDseller on September 30, 2012 at 21:16:05 from (208.126.196.144):
In Reply to: Vehicles-leasing vs. buying posted by Buckeye Oliver collector on September 30, 2012 at 19:55:59:
A car lease is a sucker bet for the car dealer/company. If you drive many miles at all you are always cheaper to buy the car. I have to laugh at the 3 year 20,000 mile leases. I drive 20,000 miles in a year to year and a half. The dealer/salesman can pack extra profit into the lease and still make it look like it will work on paper.
I have only leased one thing in my life. I did buy a JD 7000 corn planter on a lease in the mid 1980s. There was the investment credit on new equipment. I was not in a tax position to need/use the extra credit. So that lease did two things: 1) The down payment amount/first lease payment was less than the amount needed to buy it under a normal finance note. 2) Since JD got the investment credit the interest rate was much lower. So the total of the three years lease payments and the buy out was almost a $1000 less than a normal purchase and note.
At the end of the investment credit then a lease was always higher than just a conventional purchase and note.
In all of the years I sold JD equipment I only did one lease. Even then it was because the fellow was going through a divorce and did not want to build any equity in the piece for the lease term. The cost for a given term was always higher under the lease.
I have seen some equipment leased to match a bid term on government work. The contractor/bidder did not want to risk not getting the contract renewed and still owning the equipment. The contractor paid a pretty good premium for the ability to do that.
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