He skewed the information to make himself look right though, if i had more time i could do the opposite. He picked a really really low depreciating vehicle, relatively, and fudged some numbers.
I only have a minute going down to the square but you can start by paying 8.75% tax on $20,000 worth of equity that you wouldnt have had to before($1800 extra up front.)
If you put your $10,000 down payment into a savings account earning 5% for the 3 years to make the payment out of, you still end up earning another thousand in interest.
Also, your lease payment depends directly on the buyout at the end of the lease. High buyout, low payments. Low buyout, high payments. If you pay high payments for 3 years, you’re likely to have the option to purchase the vehicle at well below market value. That covers the difference. Leasing can work out to be a great deal if you don’t go over the mileage, are smart about it, and dont have joel giambra credit.