To make such a sweeping statement about car leasing being foolish or a huge mistake for the vast majority of consumers is extremely misleading and presumptuous. There are many, many, many reasons for car leasing, and especially when there are good car leasing deals, car leasing can be VERY ADVANTAGEOUS for a very large segment of the automotive consuming public. There are some people who will get a new car every two or three years regardless of whether or not leasing is available to them, and for them, leasing is a much more attractive option. Also, if leasing was not advantageous for the public, due to the steep declining value of automobiles in the first three years of an automobile's useful life, then GM would not have exited the leasing business in the first place, because the values would be high enough at the end of the lease periods for GM not to be losing money on resale of of the off lease vehicles.

This article is absolutely trash! The articles author Zac Bisonnette is clueless and has his facts all wrong. The irony here is that it sounds like he's the stupid one who's "talking from experience" and one who shouldn't have leased his last vehicle! Consumer Leasing is a fabulous tool for those who need/want one, but consumers need to educate themselves on what makes them an ideal lease candidate...and one who shouldn't ever consider it! You certainly don't enter into a 12,000 mile annual lease when you drive 20,000, as many do. The penalty for riving over that can be in the thousands! Or, why buy a car when you drive under 12,000 annually and trade your cars every three years...but you financed it for four, or five years to get affordable monthly payments! If you can qualify and you're an ideal candidate, you can save thousands if you do your research!

I'm not sure I agree that leases are so horrible. Is a car lease really that much worse than what some people do with the fanciest of smartphones? They pay steep prices for the latest iPhone, Blackberry, or Pre. They pay a handsome price for data and voice charges. And at the end of two years, you start the process all over again with another new digital brick that will decline in value.

For some, access to a car is just another form of transportation 'service' in the same way that paying apartment rent is 'housing service'. They like the flexibility of not being tied down to one area, or one car. If you've got the credit and the responsibility to handle it, I don't see why a lease is bad. I'm not going to get any equity out of paying for cable, electricity, or my natural gas bill.

Leasing is just the con artist's way to sell an overpriced car. People act like leasing is so cool. GM's brainwashing worked. Go ahead, lease a car. Give them money and then give them money each month and then give them a balloon payment or give up the car so they can make more money off of it. Can you say, "me stupid"?

John Paul Getty used to say "Buy assets that appreciate and rent assets that depreciate." The dumb move is to finance a car. At the end of four to six years you own a severely depreciated asset. Either you have the cash to buy outright or you lease. End of story.

HONEST TO GOODNESS I HAVE NEVER READ SOMETHING SO IGNORANT ABOUT THE AUTO LEASING IN MY LIFE. I AM NOT SAYING LEASING IS THE FOR EVERYONE BUT HOLY COW ZAC PLEASE EXPLAIN TO YOUE AUDIENCE JUST EXACTLY HOW YOU CAME TO THIS CONCLUSION? I HAD YOUR ARTICLE E-MAILED TO ME BECAUSE THE SENDER FOUND IT SO ABSURD.

Dang Will Ashworth, that Getty quote is extremely dangerous advice to give without any explanations, the first of which would be a solid definition of which assets appreciate.

Now you may think this would be an easy answer, but ask many who bought a house in FL, CA, NV, or AZ from 2006-2008 about that.

Bottom line is, it ain't that simple.

UltimoDragon, on the other hand, gave a much more reasonable explanation, from financial & behavioural standpoints.