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Author: alstroemeria Big gold star, 5000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19222  
Subject: Re: Poll: Social Security percentage of income Date: 3/26/2013 12:45 PM
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Brother got another Genesis. I told you that is what I am considering when the Volvo gives up the ghost.

He left his 2010 Genesis at the Hyundai dealer and drove off in the new leased 2013. IIRC the residual value of the 2010 was ~$23k. It has only 15k miles on it (bro doesn't drive a lot). Other than mediocre gas mileage, it's an awesome car--I've never sat in one so comfortable, not even a Mercedes, Lexus, Caddie or Lincoln. C'mon down ;-)

ASIDE
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. I doubt she makes more than $10/hour, although I suppose she could be married to someone who does better. Leasing is also for people who want a better ride than they can afford to buy. The thought of always having a car payment (maybe even for two cars!!) is too depressing to contemplate. 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.
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