Does Car Leasing make sense?
Since buying our RV lot in Florida, my wife and I will be snow birding for 6 months next year. We will use our fifth wheel. But do need a car for the winter months. As an alternative to our big die...
Forum Discussion
I have leased a car a while back. For me the advantage of leasing was a low payment. Disadvantage is I accrued no equity in the car. At the end of the lease I had nothing to show for my payments.
I must admit I did like the low payment. However turning the car in,leaving myself with nothing in return, left a bad taste in my mouth.
I would never lease again.
In your case a 1 year lease may have advantages, however the same pitfall exist.
How long do you plan to snowbird on your RV lot.
Is snow-birding on the lot a passing fad or something you plan to do long term.
Unless you only plan to snowbird 1 or 2 seasons, I don't see a lease as being a favorable option.
Insurance will be the deal breaker. You will have to insure the car year round.
A out of pocket used car will only need to be insured for the 6 months when you are using it.
Leasing maybe hassle free in terms of having a reliable new car with a reduced payment that won't have a lot of maintenance or unforeseen expenses however you will never own the car or accrue any equity. At some point the lease will end and you will have nothing to show for your payments.
I must admit I did like the low payment. However turning the car in,leaving myself with nothing in return, left a bad taste in my mouth.
I would never lease again.
In your case a 1 year lease may have advantages, however the same pitfall exist.
How long do you plan to snowbird on your RV lot.
Is snow-birding on the lot a passing fad or something you plan to do long term.
Unless you only plan to snowbird 1 or 2 seasons, I don't see a lease as being a favorable option.
Insurance will be the deal breaker. You will have to insure the car year round.
A out of pocket used car will only need to be insured for the 6 months when you are using it.
Leasing maybe hassle free in terms of having a reliable new car with a reduced payment that won't have a lot of maintenance or unforeseen expenses however you will never own the car or accrue any equity. At some point the lease will end and you will have nothing to show for your payments.
