I just heard about something and I would like to get it cleared up in my head please.

Someone has purchased a van that she will be financing over 5years and she said the cost of the vehicle was $24k but after the 5 years she will be paying over $32k! (no DP)

Now... I don't know what planet some of you come from, but isn't financing a car sooooooooooo much more expensives then leasing/purchasing it. :roll:

I mean... jeezuz! :shock:

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Wouldn't it be better for any smart person to save up an extra year or so in order to put a huge DP, so that they won't have to pay so much more interest during the term?

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Because alot of people here put small DP's and pay in the $450-$500 range for 5years. I find that nutty! Those payments end up being $27,000-$30,000 for a car that's worth aprox $23,000.

Therefore during those 5 years you can pay close to $7000 more, which is the price of my lease minus $2000 for 3years.

Your interest over 5 years is $2000 cheaper then me leasing a car for 3years... worry free!

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I want some feedback on this please, I know there must be something I am missing. But I would like to know it! Thanks