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Leasing is a good way to go if you want to drive a nice car.
However you are 100% responsible for the upkeep and wear and tear on the car. If you intend to return it or trade-up at the end of the lease, your car has to be in good condition. You are responsible for all out of warranty repairs.
Here is the best way to lease a car.
First choose the car you like. Be prepared to put down a deposit, and make sure you can afford the monthly payments. You will be financing approximately 50% of the total value of the car or less.
Keep the car in good shape. Change the oil and do all of the usual maintenance.
As your lease nears the end, put your car up for sale for at least 20% more than the residual value of the car. For example if you lease a $50,000 car and you still owe $20,000 at your end of lease, put it up for sale at about $24,000 or even a bit more. If your car is in good shape, you will have no trouble selling your car at this price.
Buy your lease out at $20,000 and pocket the extra $4000.
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