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Jay Leno says it's better to buy than lease

10434 Views 53 Replies 22 Participants Last post by  Taser54
Jay Leno says it's better to buy than lease.

Article at the link
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He knows well and I agree. I buy my cars because I keep them for over twenty years. For example, my 1984 Olds Ciera LS cost me $9,000 and I had it in use for 26 years. I sold it to a neighbor who is still driving it!

A lease is only good as a "rental" that can be deducted or reimbursed as a business expense. My wife did that for the three Volvos she had, while I was driving my GM cars. Her job gave her a allowance that covered all travel expenses, including the lease, and all gasoline purchases. Pure ownership is better if you pay from your pocket. After the car is paid off, you keep it runnung as long as possible payment free.

Getting a lease on your pocket is like buying a pair a pants then returning it after three years with no money back. Some may prefer to do that but if it isn't a business expense or a deductable, the lease is a waste of money.
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