How many of you Leased and How many Financed your cars?

Originally posted by Martin:
Well.. I decided to lease and buy the car out @ the end.. I don't wanna put all this money into a car that I’m not going to keep. The way I see it. My payments stay low through out my whole time of having the car. (450$ now and probably 450 on the buy out or an additional 5 years) Also if I don't want the car after the 3-year lease I’ll have to buy it out and just sell it anyway. I’ve put 2,600 mile's on the car and I had it 1 1/4 month's and I only work 17 mile's away. I just like to drive allot. Besides if I wanna put an intake or an exhaust system on my car I wont have to worry about taking it off or getting fined because I’m going to buy it out.


Martin

Black/Ivory IS300

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Why would you have to buy out the lease? I thought all leases were closed end, you walk away. Isn't it illegal to have open end leases anymore?

I have leased mine. The only way I will buy the car at the end of the lease is if the car is worth more then the residual. That is how a lease works. The residual which in my case is 22,000 is the amount I can buy the car for at the end of the lease. So, in 3 years if the IS300 is worth 25,000 or so, which I doubt, I would buy it and turn around and sell it out right and make a few K.

Other than that I walk away and get another new car.