Is it worth it to lease a car and then buy?

amother

Magnolia

Tue, Apr 11 2023, 2:19 am

Without knowing the details, I'd still think that you end up paying double in the end. You'd have to do the calculation and see how much you end up paying with lease and buying price put together.
Some leasing companies just sell cars that have been leased after a few years, often at good prices. Would buying such a post-lease car be an option, without you leasing it first?
We did that (we are not in the US) - both our cars are ex-leasers, imho they are in better shape than ordinary used cars.
If your budget doesn't stretch to that, maybe only lease in the meantime without plans to buy, or else just buy the best used car you can get for your budget.

amother

Milk

Tue, Apr 11 2023, 4:45 am

Not usually. If you have the cash flow, it's often more affordable to purchase new on a 60 month financing if you can get low low interest rate, or if you can put enough down to make it if affordable.

however, I was in a position with limited cash flow and I needed something reliable with space--not just a subcompact rust bucket with "issues"....so, for me, instead of having an unreliable car that needed lots of repairs, caused a lot of stress, and got meh gas mileage when I commute 35-50 miles round trip daily....the newer car with the lease rates at that time basically was a wash---better mileage, more reliable....between absolute car costs and my reduction in anxiety was totally worth it financially.

I leased once in 2018, and again in 2021 (although I'd hoped to have been able to actually buy the 2018 off lease with max 3 yrs financing, I didn't have the down payment or cash flow to do it then.)

My lease had gone up a lot by early 2021 for the newer model but not like the leases are now, but I've locked in a competitive buy out rate given the recent jumps in prices. IYH I plan to buy this one off lease in 2024.