The Motley Fool Discussion Boards
Retirement Discussions / Retired Fools
|Subject: Re: Leasing a car?||Date: 3/14/2013 11:04 AM|
|Author: telegraph||Number: 18279 of 19741|
There is no reason to buy a new car every five years. Cars will run 8 to 10 years with no problems. You might need to replace the battery once.
Leasing for personal use is very expensive. YOu are paying for the first 3 years depreciation, which is the highest (often half the cost of the car).
I kept my Honda Accord for 17 years (1990 Honda). I've had two Buicks I put 220,000 plus miles on .....(in six or seven years).....with minimal problems.
If you only drive 5000-8000 miles a year, a new car should last you 10 years easy.
You still pay all the insurance, depreciation, registration on a leased vehicle. Most cars go 7500 miles now before oil change. There's almost no scheduled maintenance other that rotating tires every 6000-8000 miles when you get your oil changed.
No need to rush out and buy a new car every five years. If you have to have that 'new car' smell, go buy a can of it at the auto parts