Someone mentioned leasing to me as an option since I have no intention of ever driving a car into the ground again.
Does anyone do this? Positives and/or negatives, please!
As for buying or leasing cars tend to drop a higher percentage of value in the first couple of years. With that in mind you might find buying a two year old car and keeping it for two or three more years as you could still be under warranty but not having to pay such a premium.
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For me I will always run a car into the ground. Having a new car is great but I also enjoy the no payment after it is paid off. Twds the end of the car's life is when you have to decide if it is worth putting big money into it.
There are pros and cons both ways.
I recently bought a 2 yr old car with ~28,000 miles. It was much less than a new car, but the monthly payments are way more than if I lease. However, I plan to keep this car 10 years or more (assuming I don't wreck it).
I have no family close, no SO, no one to "help" (besides friends) if something goes wrong/I get stranded/ have to leave car in the shop. I do have AAA for flat tires and such. But I just don't want to have to worry about my car.
Leasing the car I want is the same monthly amount that I am paying on a car I currently hate. I don't put a ton of miles on my car either, I live close to shopping and such/school. My current car is 2.5 years old and still doesn't have 30K miles on it yet. I think I can stay within the mileage requirement.
Keep em coming! thanks, guys!
[This message edited by Dark Inertia at 2:34 PM, June 16th (Sunday)]
Cars are pretty reliable now. The best financial bet is what Moo suggests.
Whatever approach you choose, I hope you get a super-reliable car.
I still can't afford the monthly payment on my old dream car...which I loved. Did I mention I loved that car? But, I can afford it as a lease.
I am going to call the dealership today and see how this works. My current car still has ex's name on it. My only income is Spousal Support...but, ex is willing to sign off to sell the car, but I want the lease in my name only (although still S...so technically married). I have excellent credit and a legal document stating my Spousal...just hope they are willing to let me do this!
I like to trade cars frequently. There are leases that include maintenance, etc.
I just leased a Ford Edge Limited for a great price and it had everything I wanted. The rates for leasing (Money Factor) were actually better than purchasing with a better payment, so it made more sense on that particular car to lease.
I am a former Saab owner (4 in 5 years between my husbands cars and mine) and I got burned badly by them going out of business with negative equity, unavailable parts and an invalid warranty. I never want to be in that situation again, so I think leasing is a great way to go.
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Don't you have to pay a large, non-refundable up front fee every time you lease? To me that fee is a deal breaker. I can deal with a monthly payment but not making a large outlay all at once.
No you don't. If they try to make you put a large amount down, walk away. If you're careful, it can be a good deal. Just watch the fine print on the contract
Never be afraid of the truth
Now the issue is wether they will consider a Separation Agreement as financial standing.
To be continued....