Why do people LEASE there cars?

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Originally Posted by Mike4831

I wouldn't call it pretty narrow minded, but I grew up in a house with parents who worked for everything and became millionaires by the time they were 50. And I take everything my parents say to heart. And they always told me never to rent or lease anything. It is the biggest mistake you can make.

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Actually, I think that postulate is kind of simplistic. A more accurate one might be 'If it appreciates, buy it, if it depreciates, rent it'. Buying a car is a piss-poor investment, it will only depreciate and you will only lose money on it. Those that don't mind the expense of a constant car payment, and those who like to have new cars every 2-4 years (with all the benefits of being under warranty, etc.), and those who don't mind the mileage restrictions, can get quite a deal by leasing.

I'll always have one purchased car and one leased car. That way, mileage isn't an issue.