I bought a car recently and the dealerships were really pushing leases. They seemed a bit sad that I wanted to buy a car.
I paid cash, and the finance guy who did the final sale didn't seem to try to push for me to finance (though they did let me charge a small amount to my card, yay points!) had rate cards sitting on his desk. I was shocked to see a 72-month loan available. (I thought car loans were usually 36 months, with some people going 60?) and said so. He told me there are 97!!! month loans available now, and some people use them.
Who in the world would finance a car for that long? That might be the person who needs this "just lease" advise.
That's nothing! I used to be a finance manager at an RV dealership. Our typical loan at the time was around 14% interest over 20 years for a 20K trailer. The monthly payments were something like $300.
I figured the average person used the unit for 8 nights the first year, 5 nights the second and by the third year they were why the hell are we spending $3,600 a year on an RV we never use?
Ironically, they could have rented a very nice Motorhome for about $150 per night but that just seemed too expensive to them?
Please remember that the average per night campsites still require renting at around$40-$60 per night.
My wife wanted to buy a small pop up.