Hmm..... I've flipped 4 leased vehicles the past 8 months, and I came out ahead several thousand. *Shrug*
Sometimes you game the system, sometimes the system games you, as brought out in the article. If you have the golden key for gaming the system that everyone can use, post a thread and get it stickied.Yeah, losing your license doesn't make a financed car payment go away either. Pretty poor article. IMO.
On the subject of housing, I could pay off my house, but I usually make more in investments than I pay in interest on the house. So there's a net gain. But if I suddenly can't pay for the house, my equity gets flushed. That's the risk.The only exception to borrowing is housing where it's really hard to pay 100% on a house. For housing you rent until you have at least 20% down and buy only if you plan on staying in the house for a half a decade or more. Renting buys you patience with increasing rates every year and buying locks in your housing costs for the long term.
On a side note, we got a quote for health insurance that's more than our house payment (60% increase from last year). We've made other arrangements, but I don't know where to file that outrage. I foresee people not being able to pay their car lease payments, or worse.......