5 Reasons you SHOULDN’T Lease a Luxury Car, and 1 Reason you should!
1. Mileage allowance per year may be too much or too little for you and car easily eat at the overall cost or value of the investment you’re making.
2. If there’s no special incentives, most high end luxury cars it will usually make a lease so much more expensive than purchasing, or better yet, getting a certified preowned!
3. TAX! When you lease a vehicle, you’re paying a lot of tax because the car is still considered new, and on a higher end luxury vehicle, they tax the lease payment which usually reflects a hefty amount vs. the tax paid on a CPO, or you paying taxes with the intention of keeping the car for a few years.
4. HUGE 2 year depreciation! This is a big reason why most Luxury vehicles don’t make any sense to lease unless the manufacturer incentives make the lease worth it! This is another big reason to just purchase CPO of that special luxury vehicle.
5. HIGH Interest costs. The amount of interest you’ll pay on most luxury vehicles is the SAME amount had you just purchased it outright. Sometimes the interest could actually amount to MORE than if you just financed!