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I think leasing only make sense if you are able to write off the lease payments. There are a few american car companies that have 0% rates that probably make it descent also. However, everyone I know that leases ends up with extra charges at the end of the lease. Extra KM charges, rock chip repair charges, penalties if you have had any accident repairs done.
The best thing I ever did was save up for my first car. The day I bought it I began saving for my second car. I have done that for all my cars since. I began saving for a new car 5 years ago and that moeny has been locked up in an ING direct accound earning me good interest. I almost bought a cheaper car last year but figure I would wait an extra year or so till I had another $10,000 in that account and get a BMW.
As far as being a depreciating assest I figure I am ahead at the day with a BMW135. I figure after 5 or 6 years it will hold its value and be worth a descent price still. I am not paying any interest on a loan for the BMW plus I will be earning interest on my money that I am saving up for my next car. I hate paying interest to banks!!!
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