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 - Show Coverage: Journey to Ankeny - by Cindy Ladage. We left Illinois on the first day of July and headed north and west for Ankeny, Iowa. Minus two kids, we traveled light with only the youngest in tow. As long as a pool was at the end of our destination she was easy to please unlike the other two who have a multitude of requirements to travel with mom and dad. Amana Colonies served as a respite where we ate a family style lunch that sustained us with more food than could reasonably fit into our ample physiques. The show at Ankeny
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