The real problem with leasing a car

AOL's Welcome Screen recently ran a story that pondered that age old question: Lease or Buy?

AOL Autos contributor Eric Peters took a balanced look at the pros and cons of each approach. But the real reason that leasing a car is such a bad idea is this: Driving a brand new car means that you are either very wealthy or very stupid.

A good rule to remember when it comes to car shopping is that you should buy your first new car when your net worth is over $1 million -- a sum that leaves you well-prepared for retirement and rainy days. Until then, stick with used cars.