Walk into any dealership today and we can almost guarantee they will steer you toward leasing a vehicle. Why? Because leases are the most profitable product dealers offer. Leasing is also generally less expensive on a monthly basis versus financing.
What's not to like?
The smell of a new car is alluring. Crisp uncreased leather seats. No dents, dings, or scratches. The solid feel of a new vehicle door slam. Not to mention all the technology in cars today.
Then you get back into your old car. There's dings and dents. Mabye a stain on the carpet in the back seat where your kids spilled their favorite drink they probably shouldn't even have in the car. Over 100,000 miles on the odometer. It just feels old, and maybe it smells a bit too!
That new car is soooo tempting after getting back into your old car!
In this blog we share five reasons why leasing a vehicle is a bad idea, especially if you want to one day become...
We Americans love our cars! For many, what you drive is an extension of who you are and how others see you. Think about it. You're sitting at a stoplight and on your left you see a middle-aged man driving a 2006 Toyota Corolla with two child car seats in the back, a few scrapes on the bumpers, and silver paint that is showing the signs of being a 13 year old vehicle. On your right you see another guy about the same age driving a 2019 Mercedes AMG GT Roadster.
What's going through your mind if someone were to ask you to describe these two men?
If you're like most people, you would assume the guy driving the $150K Mercedes is successful and wealthy, and the guy driving the old Toyota is not.
Hopefully, if you've been reading our blog for any length of time you'll know that millionaires are hard to spot by what they drive, but many still associate flashy cars with wealth when much of the research shows millionaires tend to drive older used...