I did the math on a Dodge pickup for lease in a local newspaper ad, once.
Lease payments collected over the term of a five year lease and then selling the vehicle at projected book price, added up to the dealer collecting some $35,000 on a pickup that cost him probably $18,000.
A buddy of mine leases a new Lincoln every three years to keep up his company's image. For him, it's a deductible expense. That's about the only situation where a lease works. For a private individual, they suck.
When I was in sales, we'd have people come in all the time and make a deal on a new car. Then they'd say, "I still have a year to go on the lease on the car I'm driving. How do I get out of that?" We'd have to break the news to them that they couldn't. Once you sign the lease, you're stuck with it to the final payment. And if you go over the allotted miles, you really take it in the shorts.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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