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They say that a car is a depreciating asset and so leasing a car works better than buying one. I heard this from folks and car salespersons. Although I understand the aspect of leasing cars meaning not having to spend on repairs, I don't understand how leasing is better.
It seems that leasing is fine if you assume that the car will run into repairs after the leasing period. But this may not be true always. I feel like I may be missing something here. Any analysis to help understand?
Clarification: I have heard from a few persons (sales and otherwise) that it mathematically makes sense on a depreciating asset. So their recommendation would be to just lease a car after another forever instead of ever buying it. So I am considering average leasing vs avg buying in installments (EMI) case, not extreme examples.