TOM, why do you like leasing? I'm not great with finance, but it seems to me you're paying the steepest amount of depreciation every three years.
IOW, for the sake of easy math, say you pay $30,000 for a car to hold 10 years. That's $3,000/yr. But you don't pay $9k to lease a car 3 years, you pay like $13k. Sure you've always got a new-ish car, but you're always paying that initial depreciation.
That said, I pay cash for cars so maybe alternative forms of financing changes the equation.
Might be car shopping. Thoughts?
Moderator: Dux
Re: Might be car shopping. Thoughts?
Most people weighing the buy vs lease option aren't thinking about keeping a car for 10 years.Thud wrote:....for the sake of easy math, say you pay $30,000 for a car to hold 10 years....
"The biggest problems that we’re facing right now have to do with George Bush trying to bring more and more power into the executive branch and not go through Congress at all."
Re: Might be car shopping. Thoughts?
Well I kept mine for 16, so perhaps I'm an outlier. Do people buy a car to keep 3 years?Pinky wrote:Most people weighing the buy vs lease option aren't thinking about keeping a car for 10 years.Thud wrote:....for the sake of easy math, say you pay $30,000 for a car to hold 10 years....
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The Venerable Bogatir X
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Re: Might be car shopping. Thoughts?
Right, my lease costs about as much as most Starbucks loyalist pay, day in and day out. The trick is to lease a bit under budget and make sure your mileage needs are in check so you don't burn yourself like Shafbama did.Pinky wrote:Most people weighing the buy vs lease option aren't thinking about keeping a car for 10 years.Thud wrote:....for the sake of easy math, say you pay $30,000 for a car to hold 10 years....
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The Venerable Bogatir X
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Re: Might be car shopping. Thoughts?
We have the last year of the V6 AWD, loaded Santa Fe and we love it....she is a keeper for the long haul. Everything else, I have had zero problems moving on...ok, I might have shed a tear at bailing on my Ram HEMI. I also have the added benefit of working from home, so my mileage is always low, but the higher mileage options are not too shabby these days, from what I've seen.Thud wrote:Well I kept mine for 16, so perhaps I'm an outlier. Do people buy a car to keep 3 years?Pinky wrote:Most people weighing the buy vs lease option aren't thinking about keeping a car for 10 years.Thud wrote:....for the sake of easy math, say you pay $30,000 for a car to hold 10 years....