Total cost to buy the car after 3 years is $23500. Total cost for a 3 year $21k loan at 6% is $23000, for a P&I of $639. Better rates (such as 5% are available, and other terms, such as 5 year). If you lose the $2000 tax deduction at 28% tax level is $560. So the lease program will on the surface cost you approximately $1k more for the same car, but allow you to get out of the car easily after 3 years if better technology comes along, etc.
----- Original Message ----- > NTEAA members and friends, > If you have been interested in the Prius but could not stand > the steep price, this may be a deal for you. Check out page > 8A of the Dallas Morning News October 10th. Toyota is > leasing the Prius for 269/month 36 month lease. > > They want $1968 at signing. Purchase option after the lease > is $11,847. This car normally sells for around $21,000 > (depending on options). > > Warning: If you lease the car I'm not sure you'll be able to > claim the $2,000 tax deduction. Check before you lease. > > Regards, > Paul Schaffer > [ http://geocities.com/nteaa/ ]
