Leasing a vehicle?

You might be surprised. I know two accountants that lease vehicles, and both of them lease Acuras (I'm not sure if I know more then two accountants). Here's the thing with Honda and Toyotas, the street value is generally higher then the lease residual value. So if you sell it before the lease is up, you will end up with more then the payoff amount. Roll that extra into the down payment on the next lease, rinse and repeat. One of these guys says he's basically driving for free after the 4th trade. He leases for three years but sells the car after two. For this to work, you need to chose a car based on resale value, which usually doesn't mean the most fun to drive. Also in both cases, their "business" is leasing the car not them personally. Not for everyone, but if you're the type who generally trades cars in every two years it makes sense. Otherwise most accountants will tell you that cars are horrible investments and generally just holes in your driveway that you shovel money into. They'll suggest buying the cheapest used car that will last, do the minimum of maintenance and run it until it is totally worn out.

Finally someone who understands leases ! C130 is spot on !

When you lease a car or truck you need to know what the residual and money factor is . Then you need to have an idea of what the historic resale has been and does thst leasing company have turn in fees. Generally the disposal fees are between 250-500$ and that is only if you give it back . Damage and wear items are no different than you owned it ....you would get less money selling it without repairing said items... right ?

Vehicles like Acuras , Hondas , Toyota SUVs tend to outperform the residuals thus giving you equity at lease end . Those companies also dont nitpick you at lease end for repairs etc .

What kind of car are you looking to get ?