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 19638|
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 store. It's a lot cheaper.
Just paying the sales tax on a new car (and you do with a lease) makes you think twice about buying a new car. (6% in TX).....
Even worse, on a leased car, they'll ding you for any teeny weeny dent or scratch on the car...... which you probably wouldn't fix yourself if not too bad.....any chip in the paint...you'll pay on a leased car....any 'wear' on the seat or armrest.....any 'spot' on the seat.....
any chip in the windshield......
If you buy a used car...you really never know what you are getting......it might be a time bomb waiting to go off...or you might
get a nice lovely car that runs another 250,000 miles.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|