I recently heard that one of the lifesaving moves being done by Ford, Chrysler and GM is to stop leasing cars. Why? Well, American cars don't hold their value very well, which means that the manufacturers can't resell the lease returns and make money. In fact they're losing tons of money on lease returns and it's gotta stop.The reason I'm talking about this is because every once in a while a retailer will actually do something that's good for the consumer and this is one of those cases. Leasing a car is a bad deal for anyone except in cases where the car is being leased for business purposes.
Many Americans lease cars they could never afford to buy. Unfortunately even if you lease a car you still have to pay tax, registration and insurance on it as if you bought it. Moreover you'll need to maintain it like it's yours, too. What a bad deal! I'm so glad the car companies are going to stop offering this bad deal to consumers. If only the foreign car companies would follow suit. They won't though since BMWs and Toyotas have great resale value. They have no reason to stop. If you are the leasing type, and it's not for business, then take a hint from GM who's awesome at losing money - stop leasing.
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