Quote:
Originally Posted by CoupedUpSubie
I would recommend negotiating a price and letting them know how much you can put down. If you can get the price down to $26k then put $4k down and get a 3% interest rate you will be paying $340 a month on a 72 month loan. Everyone I know who has leased says they will never do it again.
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With a 72mo loan on only 4k down, you'll be underwater on the loan for a while. I would highly suggest saving up at least 35-50% down for a car purchase to avoid higher gap insurance premiums.
Leasing makes sense for a business expense deduction. Other than that, it makes nearly no sense at all unless you like paying a premium for convenience (ie - changing luxury cars every 3 yrs).