Quote:
Originally Posted by puckybadger
Vehicles are not assets, which is why I buy used to cut my eventual loss. It does cost $ to own/lease. For people who like to trade every 2,3, or 4 years I say lease a vehicle. Its what you are doing anyway except you are leasing it from yourself, not the manufacturer and therefore you accept the actual value at trade/sell time. I think that is known as the residual value.
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I was talking to a friend of mine over drinks the other day, who also happens to be my financial adviser. He tells me every single one of his wealthy clients leases their vehicles. Is it because it makes the most financial sense? Is it because they can write it off? Is it because they just want zero hassle when it comes to car maintenance?
I think a good middle ground could be to buy a reliable SUV that you can rack the miles up on that's worry free to own (Lexus, Toyota) and then lease a "fun" car.