When is leasing a car a good idea?

[charlottenian]

I put the lease in my company name and am able to write off 70% of the lease

[Mvp2014]

unless you absolutely have to buy a new car, just ride your old one out while you save up the money to pay cash for a new one. paying interest is literally throwing your money away. there is nothing less conducive to financial security than buying brand new or expensive cars unless you're already loaded.

I agree. If you cant save up for it, you probably cant afford it.

[Mvp2014]

Also if you own it you only need liability insurance. Dual win

[SmokinwithWilly]

All depends on what kind of car you are planning on leasing. Some cars are just throw aways. They just don't hold up over time and aren't really meant to. I like the idea of having a new vehicle but paying constantly year after year just doens't set well with me. My truck has been paid off for over 4 years. What I have done is still make a "payment" but into savings. This savings is to be able to replace the truck, in case of an accident since I can't buy my same truck with a guaranteed level of maintenance for the blue book value. Also, this savings is there in case of major repairs such as a transmision replacement, brake job, tires, etc. Have a Cummins diesel that with proper maintenance should last me to around 300k miles or more, my uncle's made it to 650k before failure. So now I have a nest egg for the purchase of my next truck, no payments, and unlimited milage. It's a pretty good feeling.

[KSpan]

Financially, pretty much never.