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Jay Leno says it's better to buy than lease

10426 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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Or another way to look at is good for who and why.
Totally agree but just the fact that this article was posted and blindly defended shows a lot of folks will blindly follow his advice because he's successful...As I stated, virtually every car we, the average Joes, will own will depreciate and the Volt tends to depreciate at a higher rate than other cars...In three years we'll be struggling to find buyers for our $34K Volt for say $15K, Jay Leno could auction his $34K Volt for a $100K...
Jay Leno's article posted on CNBC is about leasing a car, not about leasing a Volt. Yes, the depreciation is high on a Volt, especially in the first three years as it is for all cars. That's actually part of the point, that longer term ownership leads to lower cost because the rate of depreciation becomes less with the passage of time.

For me the problem with a lease is the lack of convenience for selecting the time of the next vehicle transaction. That's number one but there are other issues as well.

In Leno's case he needs to posses his things so long term rental agreements are no good. I understand his feelings about this. What if his Duisenberg's were leased (long term rental) then his collection isn't his.
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