Posted by taxguru on September 13, 2002
Leasing Vehicles
As I have described in depth before, leasing a vehicle is generally a big rip-off for several reasons, especially if you drive more miles than the meager allowances the leasing companies provide (5,000 to 15,000 miles per year). The leasing companies secretly build in an interest factor of between 20 and 30 percent, making it a much more expensive method of finance than a normal vehicle loan.
However, I did want to pass along a pretty good recap from the Wall Street Journal to use in deciding whether or not leasing your next vehicle is the best move.
KMK
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