I did the math on a Dodge pickup for lease in a local newspaper ad, once.
Lease payments collected over the term of a five year lease and then selling the vehicle at projected book price, added up to the dealer collecting some $35,000 on a pickup that cost him probably $18,000.
A buddy of mine leases a new Lincoln every three years to keep up his company's image. For him, it's a deductible expense. That's about the only situation where a lease works. For a private individual, they suck.
When I was in sales, we'd have people come in all the time and make a deal on a new car. Then they'd say, "I still have a year to go on the lease on the car I'm driving. How do I get out of that?" We'd have to break the news to them that they couldn't. Once you sign the lease, you're stuck with it to the final payment. And if you go over the allotted miles, you really take it in the shorts.
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Today's Featured Article - The David Brown Rose Badge - by Samuel Kennedy. In the 13th century civil war was raging in England. Two English noblemen were involved in a conflict which became known as the War of the Roses. The Duke of York had as his emblem a white rose and the Earl of Lancaster had a red rose. Today the white rose is the official emblem of the county of Yorkshire and the red rose has been adopted by the neighboring county of Lancashire.
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