So I'm making a chunk selling my place and I'm working for a pre revenue dotcom (any docs interested in simplifying EMRs hit me up). I'm feeling the need to scratch the midlife sports car itch. Knowing myself I'll be ready to be more practice in a year. So I'm thinking about the pros and cons of either picking up am existing lease that has 12 months or less on it, or leasing a used car that's already taken the depreciation hit. Now both of these options seem a little too simple and I'm sure someone is making money on the other side of these deals. So dealer types and those experienced with these 'deals', what are the positives, negatives, and pitfalls of pursuing this? Thinking of something like a cayman, BMW M or other high HP BMW, or similar. My other wild hair would be getting a Miata and either doing a swap or turbo and having a Charger, Challenger, Camaro, Mustang killer that I can track at Barber, Road Atlanta from time to time. Yeah, two completely different directions, but I'm almost 50 and squirrel!!!
From a pure financial look, leasing doesn't make sense. Is the market still so hot that folks were getting ahead with a lease? That was the case the last year or so for some folks, crazy. Leasing a used car is a gimmick in my mind. Why not just buy one with cash or financing?
A lot of people wouldn't want to deal with the hassle and paperwork of buying a car that they're going to try and sell (and deal with tire kickers, etc.) in a year. There may or may not be sales tax implications as well.........if it was me, I'd pay up for the hassle free "renting" of a car for a year.
