- Jul 13, 2020
- Reaction score
- Lincoln mkx , Ford f-150
Do you mean to tell me every 6 years there are groundbreaking new safety features on a car?You are absolutely correct;
The cheapest is to drive the car into the ground, until it breaks down on the side of the road after 25 years and 250,000 miles.
However some of us want to drive hassle free, fix our costs, want the latest safety features and the greatest reliability.
Those are my priorities: I want to drive only a car covered by the manufacturer's warranty. For me the most efficient use of my money is to lease.
FYI, assuming 10,000 miles per year on an ICE, if you take "use of money" into consideration at just 4% and sales tax, the break even owning vs. leasing point is between 6 and 7 years. In other words to be cheaper, you must keep the car a minimum of 6 years. After 6 years owning is cheaper than leasing.
The problem to me at least, is driving a six year old car with six year old safety features.
I have not done the calculations for the MME, because at this time the residuals and interest rates on a lease are unknown and depreciation is unknown.
I think this comes out next year you might wanna wait then.