Depreciation is a myth. A car is a tool not an investment. And if depreciation is a real worry for normal people then why do houses not depreciate? They don’t last forever. In fact on average they only last 50 years. But their prices never go down. Not until they get condemned. Why doesn’t the price on a 5 year old car go up instead of down? It’s got 10 more years in it easily and it’s proven not to be a lemon.
But you know what the real insanity is? Paying 400 dollars a month for years for a car with extra restrictions and then having to turn it in or pay even more to own it. Subscription cars need a lot more consideration, like full warranty, maintenance, and insurance for the entire lease period. Upgrade deals at the end. Because the way it is now you’re just giving shit up to keep paying a corporation.
jimbolauski@lemm.ee 4 months ago
Leasing is you paying the estimated depreciation of the lease period. The 1st 3 years is when a car depreciates the fastest and you have nothing to show for it.
suction@lemmy.world 4 months ago
That’s all rentals, just much much cheaper than a true rental. And no, leasing rates are completely flexible and much more goes into them than just a basic calc of depreciation. I’m not here to say that all leasing offers are great, probably most are bad and screwy. But if you look for a while you can find great lease offers. For example if a new model of a car is about to be launched, the maker will try to get rid of all their stock of the previous model. Like happened with the Audi A4 a few years back.