WetEV wrote: RonDawg wrote:
LeftieBiker wrote:I'm a bit surprised that people take out extremely long loans on inexpensive cars, but human nature being what it is, I'm also not shocked. Most people view leasing as "renting" instead of as a way to drive a car you might buy with less risk.
Those who have to get into extended debt for a cheap car probably don't have the sufficiently-good credit required for leasing. They may also be putting on a lot of miles (may have to live far from work due to housing costs, and/or may have multiple jobs to make ends meet) which would cause the lease to be unacceptably expensive.
Lease to purchase is SOMETIMES the cheapest way to buy a car. Especially if there isn't enough income tax owed to use the full tax credit. And if purchase is the plan, selecting the lowest possible miles can sometimes make the lease to purchase cheaper.
And not everyone with low income has poor credit.
Leftie wasn't referring to EV's specifically, just "inexpensive cars" in general.
And yes while not all low income people have poor credit, it's disproportionate to that demographic, if the density of "Buy Here Pay Here" dealerships, "Rent to Own" stores, and check cashing businesses in such neighborhoods is any indication.
Blue Ocean 2012 Leaf SV, lost that 1st bar at 34 months/26,435 miles. Lease returned 2 months later. Final LeafStat figures: 225 Gids, 17.44 kWH, SOC 91.89%, SOH 82.36%, 69.49% HX, 54.57 Ahr, battery temp 61.8 F.
Now driving a 2015 VW eGolf SEL.