Never in my wildest dreams had it crossed my mind that I’d be leasing a car. Generally speaking, leases are a bad idea and one of the worst financial products a consumer could take on. It’s almost impossible to negotiate a deal that doesn’t favor the dealer in some way. You are basically renting a car for the length of the lease and have nothing to show for it when the lease is up.
So no one was more surprised than I when two weeks ago I signed a two-year lease on a car. I felt a bit dirty doing it, like I was committing the cardinal financial sin and selling my soul away. So I’m writing today to explain my actions given the terrible track record leases have for the consumer.
This deal happened only because my wife and I will come close to breaking even on the lease over those two years. I’ll be driving a new car almost for free.