So, all of you "leasing is not stupid" posters...
When the OP says he can't afford the payment to purchase a car, how does my sentiment not ring true?
It seems quite obvious that if you can't afford a payment to purchase a car, you are not a business owner who will be writing off your lease (the one major instance of a lease making fiscal sense - and as a fellow taxpayer, you're welcome) Other times a lease makes sense, are quite rare.
So yes, my post gives solid financial advice that 95% of the population could use. Sadly, they don't teach this in K-12 schools, so why not share a bit of helpful advice on a car forum?
Allow me to retort: think of a car payment as part of your monthly transportation budget. If you live in a major city, you may not own a car, so that budget is Uber rides, taxi fares, MTA card, whatever. If you own your car outright, your car is probably old enough that you're earmarking some money every month for the inevitable repairs and high-mileage maintenance services.
If your average mileage is 12,000 or less, it makes sense to lease a car, since you're spending less per month for transportation, and you aren't buying something that costs many thousands of dollars, but is guaranteed to depreciate. Several companies are offering $0 down sign-and-drive specials this month, which eliminates the upfront cost. When your lease is reaching maturity, they'll offer you a loyalty bonus to lease another car from them, and you'll have another new car that's always under warranty, never needs costly repairs, and won't cost you a cent in depreciation. Which brings me to my next point: if you're interested in a car that experiences greater/steeper depreciation than average (e.g. anything made by Ford/GM/Chrysler that isn't a Corvette, Wrangler, or truck), leasing is always the better option.
While I am aware that many people use leasing as a way of driving a nicer car than they could afford to purchase outright, it's not always the financial blunder that some people seem to think it is, provided you're smart about it. In my case, I average roughly 10,000 miles a year, yet I chose to purchase my car, because the lease offers on the 2017 GTI weren't all that great compared to what they were offering for a cash/3rd-party sale. Plus, I can't rule out the possibility of modifying the car at some point. So, it all comes down to your own personal circumstances.
