But what’s the point of building “equity” in a depreciating asset when you can just lease it?
If the depreciation is bad, leasing can be better over a shorter term such as 24,36 months, esp. when you have these $0 down deals.
One other great option to consider if your credit is good- do a lease takeover on a nice vehicle. This way, the original lessee is the one who is out the big DP and then just transfers it to you for what usually is payments only for an even shorter period (like less than 24 months even)…
Makes a lot of sense if the lease payments x term length (simplified I know) comes out to less than what the vehicle would depreciate if you owned it outright. All without the hassle of having to sell it later and stuff…
Flip side is, if you’re going to be keeping the vehicle for longer than three years, just buy it. But make sure you KEEP it or you may have been better off leasing it. The key is to make a plan and stick to it.