Leasing making a comeback?

[mchastek]

According to an article from MSNBC, leasing is making a comeback.

http://www.msnbc.msn.com/id/7432388/

One particular BMW dealership reported that about 7 out of ever 10 customers are choosing leases over conventional loans. One of the main reasons is because consumers can have more car for less money every month.

The article states that 6 years ago, 40% of all new-vehicle transactions were leases. That declined to only 20% within the last few years, largely due to the big incentives on new vehicle purchases.

There are obviously pros and cons of leasing - what is your opinion?

[Paul12801]

We do tons of leases at the dealership. That is partly because we are in a manufact. city.

I wonder how this is going to affect places like New York, where you can't lease a car at all?

[mchastek]

We do tons of leases at the dealership. That is partly because we are in a manufact. city.

I wonder how this is going to affect places like New York, where you can't lease a car at all?

What makes you think you can't lease a car in New York? It happens all the time!

[Paul12801]

My mistake I should of been more clear:

Because of New York law that holds the leasing company liable for accidents the consumer may cause or be involved in, most, leasing companies refuse to do business in New York.
Honda has decided to re-enter the market though. I am not sure if they pulled out yet.
New York has this "Smart-Buy" thing where you do buy the car but in 3-4 years you trade the car in.
NY is a tough state I think for car dealing, but I wouldn't mind having a store there- Its such a cool place!