"Suze Orman stated, 'I want you to know, Nancy, You are the very first person I have ever told to lease instead of buy.' This highlights her unique recommendation based on Nancy's specific circumstances."
"Orman explained that the stakes are real: 'The wrong choice locks you into a depreciating asset you will want to dump in three years, or pushes you into a lease that quietly costs more than ownership over a decade.'"
"Nancy expressed her intent to upgrade with technology, saying, 'with technological advances, I will probably go into the next big advances as they come.' This statement significantly influenced Orman's advice."
"Orman noted that buying usually wins because 'A new car loses roughly 20% of its value the moment you drive it off the lot and depreciates fastest in the first three years.'"
Suze Orman, known for her financial advice, advised a 66-year-old caller named Nancy to lease her next car instead of buying it, marking a significant departure from her usual stance. This recommendation is based on the concept of obsolescence risk, particularly relevant in the fast-evolving technology of self-driving cars. While buying typically offers better long-term value, Nancy's intention to upgrade frequently due to technological advancements makes leasing a more suitable option for her situation, potentially saving her money in the long run.
Read at 24/7 Wall St.
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