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Retirement Discussions / Retired Fools
|Subject: Re: Poll: Social Security percentage of income||Date: 3/26/2013 2:38 PM|
|Author: telegraph||Number: 18338 of 19380|
alstro:"I tend to assume that car leasing is for wealthier drivers who trade up often and don't mind the never-ending payments and always-high insurance premiums (in return for little or no maintenance & repair costs & inconvenience). But I was chit-chatting with the receptionist at the lab this morning (took the hubster to get his lab work done), and she leases her car."
Some folks get new car fever every 3 years. They are going to trade no matter what......so maybe a lease might work for them. or is close to breaking even, and there is a lot less hassle in negotiations. When dealers are desperate to move cars and car makers have too much inventory, they often do some real good leasing deals just to move the cars.
alstro:" Leasing is also for people who want a better ride than they can afford to buy."
Well....it is for those who want an expensive ride, and plan to change cars in a few years to something new. For some, the 'status' of a new car is everything.
alstro: " The thought of always having a car payment (maybe even for two cars!!) is too depressing to contemplate."
I haven't had a car payment since 1972......and never expect to have one again. Paid for my first 'new' car ever - a Ford E-150 extended van - back in 1975. Great van for everything from hauling rocks and lumber, to hauling a ton of radio equipment, to sleeping in the back on a 2 inch thick foam mattress with a sleeping bag on overnight trips and several day trips here and there. Only got 13 mpg though but gas wasn't too bad in 1975. No one really worried about gas mileage but there were years of 'gas rationing by inconvenience' with odd/even days, etc.
alstro:" My last car loan had a term of 2 years. I could hardly wait to get out from under that burden. Debt makes me uptight. "
I had a two year loan on my '69 VEtte - put half down......paid it off and that was the end of car payments forever!......have paid cash on the barrelhead ever since.
Way back when, I had a friend who traded cars about every 18 months. Had to have the latest 'muscle car'. Had Firebirds, Camaroes, Charger - all with the big engines and fancy paint jobs. He worked to save up enough money for a down payment, and when he could buy a new car with the 'same payments' as his old car - trading it in, adding some cash -- he would do it. He must have blown 2 years salary in five years just buying new cars about every 18 months.
Now...one car is a 2007 Prius ....the other a 2009 Malibu . I'll keep the 2007 car till the wheels fall off......and the 2009 has 107,000 miles and when it reaches over 200K, I"ll look at getting something new - probably about 3-4 years from now.
WHo knows? in 4 years, I might go down to 1 car..... I really like the high intensity discharge lights on the Prius.....makes night driving a bit easier.....
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