And its a great model for people who want a known payment of $x and don't want to take on the risk/reward of deprecation, maintenance, resale, etc. Unlike with

And its a great model for people who want a known payment of $x and don't want to take on the risk/reward of deprecation, maintenance, resale, etc. Unlike with say housing, which sits on land which appreciates in value at a rate and has a high cost of moving (monetary and personal), a typical car for the majority of people is a means to an end which just sits their and deprecates. The cost of changing to a new car is a few minutes reprogramming the radio and seats. Ultimately what most people want is transportation which costs a reliable x¢ per mile at a given level of convienience, reliability and comfort. Cars are hardly a winner takes all business or one with little competition - there's at least a dozen major manufacturers.