Thought of this one as I was driving down Interstate 17 last night on my way home from Chase Field. I was thinking of the one car payment I have left before my Town and Country is paid in full and the 127,000-plus miles on the odometer after six years.
Would you ever lease an automobile in not required or incentivized by your work?
If the answer’s yes, then no need to go further. If the answer’s no, then I’d like to know if you believe in renting or owning real estate?
And finally, if there’s no moral or other issue with walking away from a mortgage on a home because the value of the home has dropped, why wouldn’t you walk away from a loan on a new automobile the week after you drive off the lot because the value of the car already has decreased in that short time?
Though the economies of scale are different, the thought processes shouldn’t be. Not in an objective, logical sense.