The '14 Touring for example was $570 from the NY leasing places. Plus $1,650 in fees makes that $616.
Compared to a $42.7K sticker that can be negotiated down to $37K+tax=$40K.
That's a breakeven point of 65 months. And that doesn't account for damages, disposition, and mileage limitations that come with a lease.
Closing out the books with some quick and dirty math on this one.
Spent ~$40K plus $720 for an 84 month Hondacare warranty. Only did routine maintenance and had a couple Hondacare claims to break even on that.
Kept the car for 111 months, which means it was
free for the past 46 months after the calculated breakeven point above, ignoring the car's remaining value.
Carvana says they will pay me $19,715 for it, so ignoring the time value of money, means the car actually cost about $21,000 including tax and warranty. That imputes a breakeven point of 34 months, which would mean it was
free for the past 77 months.
You can quibble with the math (feel free to point out any errors
@farmbochur), but this is just a no-brainer folks. Just last Shabbos I argued with someone who said they couldn't afford to buy a car, which is why they lease a new Odyssey every 2 or 3 years.
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