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The only good thing about a lease is that you can give them back the car in a couple years and be shut of it.
Quigley saysThe only good thing about a lease is that you can give them back the car in a couple years and be shut of it.
And have ZERO to show for it. Zero equity... just like renting a house. Sure you can save a few bucks on the monthly payment with a lease, but those extra bucks spent on a loan payment end up going to equity, so when the loan is paid off, the car is still worth some additional bucks that you can sell it for.
OR, you could save up $4000 and buy a pretty good set of wheels.Just bought a '97 Cadlllac DeVille deElegance with 40K miles for $3,400, owned by a 91 year old man, always garaged. Kept the '96 Roadmaster that now has 80K, drive it up to West every other weekend. If I take an out of town trip, I rent from Enterprise for the time and put the wear and tear on their car and turn in back in which mine sits under the carport. I only put about 7,000 miles a year on a car, so there's no point in putting out $10,000 plus for a newer car.
I'm ignored or are these moderated comments 1,2,3,5 ?
When I got out of college I was rear-ended by a drunk driver and got an $8k settlement. I didn't work for like 6 months, got two surfboards, and a sound system with base speakers that took up my whole trunk.
Worth it!
I'm not a believer in car payments, especially for new cars.
Plus, I'm worth it to buy myself a brand new vehicle. Life is too short..
By the way, if you got that 0.9% loan from Honda Credit or other dealer financing, that low rate was subsidized by a higher price for the car. Walk in with cash and I am sure you can negotiate a lower purchase price.
This is the essence, buying a care is a splurge, get what you want. But the rest of your post sounds like the car purchase was an "investment." It is not, it is a consumer expense.
Man how eerie. When I got out of college, almost the exact same thing happened to me. Some guy hit me on the freeway and I got a $9k settlement.
I invested the money though.
If I leased it for 5 years, what would I have in equity in a vehicle? The answer: ZERO.
Plus, I'm worth it to buy myself a brand new vehicle. Life is too short.....
Well, that's just it. If you had leased it you would have had a new vehicle every 2 or 3 years.
Instead, you're driving a 5 year old vehicle.
That said, I am driving a 10 year old vehicle and like it just fine.
We keep getting assholes like Zuckergurg. Stop giving this generation your money, they don't know what to do with it, and they only seek more than your money.
They want your freedom along with it.
Melania should have called her "Be Best" movement "Smarten UP!".
https://www.cnbc.com/2018/12/01/forget-leasing-or-buying-a-car-these-companies-let-you-subscribe.html