Quote:
Originally Posted by 04mazdaspeed
Sadly, I am in that millennial generation that you speak of but was brought up that owning instead of oweing is the smart choice in life and how to retire with money in the bank. Also it is a great sense of security I will admit, that knowing if my job ever gets outsourced(very good possibility within 30yrs), my home and cars are paid off. Granted my wife is a nurse and will always have a job but still. Me and my wife both daily cars that were under 20k and to lease a car for the same payment only to give it up in 3 years with restricted miles just isn't for me. Even if we kept the car for 5 years and it had 75k miles on it(15k a year average), I could hypothectically sell it and recoup half my investment. Which depending on the car and resale could be savings of even more than what I would have paid out for a 3yr lease. I also get that financing with a low rate and investing the rest but whatever that payment is, is less cash flow that could be sent to the 401k, etc to get even bigger returns. I always finance my cars but I always pay them off a lot sooner than expected. 500 less per month is 500 less that I could be sending to make me 5 percent or more. Again for the nsx, IF I was even considering spending that kind of money on a car, it would be to keep it longterm, not pay out 50k over 3yrs and have nothing to show for it at the end. That to me is not a wise financial choice and why my generation is going to be working till their dead...lol
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Yeah, completely understand where you are coming from. Different strokes for different folks.
Your PoV is a completely rational one. For many people, though, emotion clouds their rational thinking when buying a car (especially a $100k car). For others, it's all about convenience, get a lease for 2-3 years, never have to worry about major maintenance, selling the car, etc.
For me, I am all over the place. I finance, lease and own all at the same time depending on the car and use of the car.