Elizabeth Ayoola

I met her maybe three years ago, and I've maybe seen her with three different cars.

Wow.

So, yeah, she likes driving new cars, and leasing works for her and her budget.

And she doesn't want to buy, so I agree with you, Shawn.

That is fun.

All right, let's get into Patti's question.

She had a couple questions for us.

So, Patti wants to know if the lease payments applied go towards the purchase, since that's what the salesperson told her.

Was the salesperson telling the truth, Shannon?

Um, no.

Since we're doing some math here, Shannon, mathematically, is there a difference between the total cost of leasing than buying versus just financing the car from day one?

They call me too.

I said, no, I don't want no more payments.

No, no, no, no, no.

Patty has three choices, as we mentioned earlier, leasing again, buying the car or returning the car and then losing what they've paid in.

Can you talk through those three options for us?

Where does the cost, Shannon, of auto insurance come in here?

I think whether you're leasing or buying, one should factor insurance into their car budget also.

So is auto insurance usually more expensive when you're leasing versus buying a car?

We have had a long, lengthy discussion about buying versus leasing.