Sure, being deeply in debt is the American way lol
You're saying that I'm not fully understanding the numbers, then help me understand them. How am I saving money by paying cash for a $40,000 vehicle, keeping it for three years and then dumping it vs leasing the same vehicle for 3 years, then leasing another one.
When you compare it to buying a cheaper or used vehicle then I can see what you're saying, but when comparing new to new I just don't get it.
You only live once, and you have to have the things in that one life that you want. I enjoy new cars, and I like a new car every 3 years or so, and thats something I'm going to have. What I dont see is how paying $500 a month for 36 months with a total outlay of $18,000 vs forking out $36,000 in cash can be considered a bad deal...
Lets say I could get $17,000 for the car after 3 years which is optomistic I've still paid out $19,000 and that extra cash has been tied up in a car for three years vs earning me money in my investment portfolio. I just dont see how thats a bad deal.
As for mortgages, if most of us waited until we'd saved $500,000 cash we'd never own a home. A home APPRECIATES in value making it a solid investment especially now. Leasing something that would MAKE you money (renting a home or apartment) vs paying on installment and building equity in that property is foolish..
A car is not an investment...