I agree that leasing is not for those who like to do mods to the car. I also agree with your thinking in principle, but if the lease, for example, costs you 7% and financing costs you 1%, then you're paying a lot for the peace of mind (in financial terms, the put option you own to sell the car back to Chase at the residual can be rich or cheap). Your numbers might have been much better, but people tend to talk about leasing in philosophical terms when it should be more of a financial calculation. I have a personal bias towards leasing, but Land Rover has pushed me into financing with a 0.5% rate, while the lease money factor was > 5%. The high real world residuals have, so far, made it a very good choice.
I totally agree with what you say.
I had a 2012 LR2 HSE on a 2 year lease value which was 52.999,00
I put 7000 down to get the finance lower
I paid 20 months @ 750
I wanted to buy the vehicle as i had only done 18k as I ride a motorcyle in the summer. It would have been around 40k if I didnt ride. so I wanted to buy at the of the lease but landrover wanted 43k as a buyout.
They gave me an offer to buy new.
LR2 2013 HSE Lux
+2000 for Loyalty bonus
+2000 for end of year deal
-500 winter tyres (1500 normal price)
-500 LUX Pack as I didn't want the LUX package (1500 on top of purchase price normally) they didn't have anymore HSE only vehicles
2013 came with 18 inch rims dealer purchased my LR2 and swapped the 18 for the 19 and bought the new 18's back from me with the old 19 inch tyres
Total price for the LR2 was 360 bi monthly for 84 months
total price of vehicle before mods
54.999,00
So Lease was 750 per month with nothing at the end of 2 years
Purchase is 720 per month and its mine. ( looking at double payments to pay off asap) I will look at selling at 5 years if the KM's are massive but i don't see this with riding so much
Extras I have purchased for the car
3m protection kit - 1500
diamond kit - 1500 (5 free windscreens over 5 years)
roof rack (LR) - 750
support bars (LR) - 450
explorer roof rack (LR) - 550
Mudguards (LR) - 550
1.5ltr fire extinguisher - 150
emergency flare kit - 70
EFlares - 10x75 = 750
Winter emergency kit - 150
I wanted a winch and brush bars/roo bars/Bull bars as I do a bit of off roading.