Bigger problem than the unlimited appetite for debt is the narcissistic attitude engendered in American women by the feminist culture and the way they are brought up. I have 2 buddies who are layed off and suffering from depression because their wives, even at the ages of 40+, absolutely refuse to stop being daddy's prissy little girls.
FWIW, her dad promised her a new car if she maintained a 3.5 GPA or better, and she's at 3.7 in her third year, which will be her final year, as she is taking a lot of credit hours per semester. She is a chemical engineering major. Morganist, I'd love to, but she's already seeing someone, and I think they're rather serious. If it was any of my business, I'd advise her to buy a two or three year old car, but it's not, so I won't.
Making money on leasing cars requires predictable used car prices several years forward. If used car prices are volatile, it should be difficult to lease a car.
I have a '98 Corolla I got in '01 from a lease w/28K miles on it. It now has 197K...needs some work coming up, but has run just fine otherwise. The local dealership just sent me a postcard of Toyota's "buyback" program in which they supposedly will give 100% MSRP based off of the NASA value. Which spit back to me at around $4900 when I plugged it in online...better then any trade-in deal usually offered. Of course, the fine print does say they can deduct based on repairs/body work, etc...mine does have some dings and dents and the like so it may go down. Here's the kicker...they have '09 Camry's for $16,900. Take the value off and you're looking at a sticker around $12,000. I paid $10,700 sticker for that '98 Corolla. 2-3 years ago that Camry would run probably closer to $20K.
You must live in f**king Utopia, because I've traveled to 5 states in the last 12 months, and I see death everywhere. Do you have a unicorn and magic beanstalk, too?
In my area just north of Washington, DC; there has been no affect at all....other than about a 25% decline in real estate values. But then again....this is DC. I would go so far as to say that DRs and lawyers are making more money in this environment.
I don't doubt that. D.C. is it's own surreal universe, with taxpayer funded bloat now and forever. I wouldn't discount adverse shocks to surrounding areas such as Fairfax, however, if things worsen (and you know I'm bearish). Downtown D.C. and the immediate vicinity will always be immune.
It may be cheaper just to buy a new car and let her make part of the payments. I'm 25 and just bought a new Chevy Cobalt (not my dream car, but it gets me from A to B). Lucky for me, my FICO score is in the low 800s so I was able to get 0% financing. However, a few weeks after I bought it Chevy started offering 0% financing for 72 months to everyone on the new Cobalts. I'm not sure if they're still offering it, but I'd look into that before I consider leasing.