Leasing makes sense if you are a business owner who writes off the cost of the vehicle and replaces it every 3-5 years. It makes absolutely no sense if you intend to keep it for a long time.
Also, there was a quote from the article I found funny: When you lease a vehicle instead of buying one, you build no equity in the deal.
There is no such thing as "building equity in an auto. Its a depreciating asset from day one. Its overall value is dropping constantly.
Or drive a lot of miles.
Agreed. If I were rich I think I'd lease a new BMW 7-series car every 2-3 years and just turn it back in so I wouldn't have to fool with selling or trading the old one.
“It makes absolutely no sense if you intend to keep it for a long time”
Not necessarily. We just leased a truck because the credit union would kick in over $12,000 into the deal if we did. We can also refi at any time.