Not before I put the nail in the coffin...
Lease
$17,000 in total payments ($470/mo)
$21,000 in saved payments ($590/mo)
Purchase
$38,000 in total payments ($1,060/mo)
$23,000 in car value (65% est. residual)
This is clear. Easy.
How about this??
Just so we are clear, the same car is worth the same $23,276 in 36 months...
The pre-determined residual on the lease is $20,410. That leaves $2,866 on the table for the lease owner to take advantage of if they contracted a purchase at the buy-out price, with no negotiation.
You could agree to buy the car for $20,410 and sell it tomorrow for $23 276 if you chose.
So it would look like this in that scenario...
Lease - $1,060/mo allocated
($17,000) in payments
+ $21,000 in cash saved
+ $2,866 in equity
________________
+ $6,866
Purchase - $1,060/mo allocated
($38,000) in payments
+ $23,000 in equity
________________
($15,000)
For 36 months and 1 day with the same exact car for the same exact monthly allocation of funds.:thumbsup:
I am done now.