Hijinx
Senior Member
- Joined
- Jul 7, 2016
- Threads
- 2
- Messages
- 64
- Reaction score
- 40
- Location
- Montgomery, AL
- Vehicle(s)
- 2014 Fiesta ST, 2016 Civic LX
There are many reasons to lease a car, but beyond that your logic seems...flawed. You’re essentially saying that people must finance a car in order to afford it because lease interest rates are higher. While sort of true, it’s backwards...you have to be able to prove to the bank that you can afford a car before you finance or lease. One reason people lease is the same reason you’re probably paying a monthly payment on your smartphone...the short run is cheaper and more affordable.Never ever, lease a car. The normal interest rate, they don’t show you is around 14 percent. If your leasing you definitely can’t afford that car.
I think what you’re trying to say is that one shouldn’t put a down payment on a lease because you’re basically renting a car for the next few years and if anything happens to it, that money is never coming back. You have zero equity in a lease, but you can incur more debt.
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