Hello everyone, I am looking for advice on what to do when it comes to leasing a car versus buying it. The following is what I “think” is going on.

Once again, the following is based on what I know, which is not very much. This is my first time buying a car and I’ve had no one to really teach me it interest, leases, buying, financing, and all that jazz, so bare with me.

If I lease a vehicle for say $341/mo at $25,262 MSRP, and I go for a 48/mo term, I end up paying $16,368 over four years.

If I assume my payments over the four years were going toward the car, $25,262 - $16368 = $8894 left over to buy out the contract, right?

Then to just come up with the remainder, $8894 / 48mo = $185.3/mo I get paid weekly, so I like to think on weekly terms:

$341 / 4 weeks = $85.25/week $185.3 / 4 weeks = $46.33/week

$85.25 $46.33 = $131.58

$131.58 is what it would cost me per check (I receive a check every week) to lease this car (not including insurance), hopefully never pay for maintenance since it would be under warranty, and save enough to buy the contract out in the end.

Also, I’ve heard driving above the milage maximum wouldn’t matter, because I’m buying the contract/car, mileage fees will just be deleted.

Is everything I’ve said true? Am I missing any fees? Interest or something? Someone knowledgeable please do help.

Thank you, Some guy that wants a newer car and drives 75 miles per day