Quote:
Originally Posted by Mephistopheles Janx
You are correct... no one is reimbursing me any money. Perhaps I misspoke when I said get back.
I've never had a lease before so I really see it as "throwing away money" because I'm never going to own the car. The car this is replacing is 12 years old and we bought it new for $21k. It cost us $1,700 a year for that car (not including interest and the such).
With this car I will be, essentially, putting out $14,560 for a vehicle I will only own for 3 years. Considerably more expensive than our previous one from a bird's eye view of things.
So, my concern in this was that my putting down a larger down payment in order to get a lower car payment would result in me "throwing away" that additional money. Instead... by putting a greater amount down I'm paying less per month and saving a pittance on the price overall.
Basically I was just happy that the extra down payment wasn't just going to go *poof.
Perhaps this is just a well known thing or I just suck at math and came to an obvious conclusion late in life  ... I don't know, I've never leased a car before.
I'm not an accountant so I don't know how it would apply to your situation but...
https://www.keepertax.com/posts/car-lease-tax-write-off |
I've been reading that leasing is a horrible idea for college students (well anyone for that matter) BUT if I can keep her on the road in something that is fully warrantied and doesn't have problems throughout her studies and she doesn't hit me up for gas money but maybe 3-4 times a year, I'd be happy to pay $3-400/ month.
Didn't think of the option until you just brought it up here. Thanks!