title>Tax Guru-Ker$tetter Letter Wizard Animation

                 

Tax Guru-Ker$tetter Letter
Thursday, March 31, 2005
 
Another Leasing Rip-Off

I’ve frequently commented on how leasing vehicles is a big rip-off for several reasons, especially the 20% to 30% implicit interest rate built into the payments.  The per mile penalties for excess mileage also add to the deceptively low monthly charge. 

Until I saw this article, courtesy of AutoBlog, I wasn’t aware that lessees weren’t covered by the same manufacturer’s warranties as are buyers.  The guy in the article won his case to be covered by the warranty, but he had to go through the expense and hassle of bringing legal action against Honda. 

One more reason to stay away from vehicle leases.

 



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