Hello ALL,
I've noticed the discussion related to methods of "owning"
automobiles.  I've researched this quite a little and would
share the following:
I am in a situation where leasing is ideal.  My vehicles are
chosen on their appeal merit first, but with a concern as to
their residual value at lease-end.  I put only about 10,000
miles/year on them of which about 90% is business related.  I
keep them fresh and well maintained and approach a dealer
regarding trade-in about 6 months prior to the lease expiring.
On five successive vehicles, this has led to a reduced monthly
committment on each one.  I started at $359/mo and am
currently leasing at $256/mo on a vehicle that stickered at
$28,300.
I haven't bought so much as a tire or muffler in 15 years.  I
haven't had to deal with any service surprises and have been
able to drive high quality, new vehicles during this entire
time.  The record keeping is simple (vs depreciation, etc.)
and the US and WI gov't are supporting/subsidizing my habit
at 34%.  The negative in this for me is that it is a hard
cycle to get out of because I don't have any equity to speak
of in using toward a traditional purchase.  Even if I wanted
to buy my current vehicle at lease-end, I would be bumping
my monthly committment to $400+ on a depreciating asset.  I'm
sure I'll talk myself into repeating the cycle again!
I realize my situation is somewhat unique and ideal for this
scenario.  I feel that one way or another, I'll be living with
a car payment and what I'm doing keeps me in new, reliable
(and warranteed) wheels.  My net out-of-pocket is currently
about $170 and I simply can't think of a better over all
alternative.
Regards,
-=Craig=-
craigclu@bigfoot.com  
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