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Re: other fun alternatives Posted by Snowmobile [Email]  (#686)  [Profile/Gallery]
(more from Snowmobile) on Fri, 27 Sep 2013 19:07:10
In Reply to: Re: other fun alternatives, AeroLady, Fri, 27 Sep 2013 15:32:58 Members do not see ads below this line. - Help Keep This Site Online - Signup |
I agree with Justin - most of the time, it is way cheaper to keep an old car going than lease a newer car. I went through this thought process before also, and leasing just didn't make sense for us... we have a couple 20+ year old c900's that typically require about $1000/y or less in maintenance including some DIY and any more major work done at our Saab indy... the 9-5 is comparable in cost (but only 10 years old). I find 9-5 parts are more expensive than c900 parts. $1000 is only 1/3rd of the annual cost of a $250/m lease and we have an asset we could sell at any time (whereas a lease = renting)...
I think $500/y is a pretty low estimate to budget for repairs though... maybe if you live somewhere where things don't rust and can do all the repairs yourself... I spend a lot on tires (winter/summer), exhausts (rust out in about 3 years in our salt/slush), and indy costs for more unpleasant sorts of tasks or that might require more tools or knowledge than I have (eg burst brake line in winter).
I do see merit in leasing though vs buying new, at least at the right lease rate. For a while, with Saabs anyway, the premium to lease vs buy outright was only $1-2k iirc over the course of the lease and then you had the option to buy your car out at roughly the CPO price. $1-2k to me is a reasonable premium to "lemon-proof" the car (vs still making payments on a lemon that is hard to resell without going under water)... Leasing makes a lot of sense if one wants to always have a brand new car...
But I'm too cheap for all that... I'd rather buy a used car and let someone else pay all that depreciation! Our 2004 still feels brand new to me when I drive it (though I have certainly done some repair work on it)...
->Posting last edited on Fri, 27 Sep 2013 19:10:50.
, Mon, 30 Sep 2013 14:33:58, Mon, 30 Sep 2013 10:31:39, Mon, 30 Sep 2013 10:08:27
, Fri, 27 Sep 2013 15:06:18
, Sat, 28 Sep 2013 07:10:35, Fri, 27 Sep 2013 19:07:10 <-- Viewing This Message, Fri, 27 Sep 2013 17:00:05
, Fri, 27 Sep 2013 18:07:37, Sat, 28 Sep 2013 11:02:54, Sat, 28 Sep 2013 11:31:49, Sat, 28 Sep 2013 14:35:06, Sat, 28 Sep 2013 14:50:17, Sat, 28 Sep 2013 23:57:31, Sun, 29 Sep 2013 06:55:50, Mon, 30 Sep 2013 10:17:49, Sat, 28 Sep 2013 03:30:43, Sat, 28 Sep 2013 07:12:54, Sat, 28 Sep 2013 16:04:28, Fri, 27 Sep 2013 16:32:29, Sat, 28 Sep 2013 12:53:16, Mon, 30 Sep 2013 08:32:42
, Fri, 27 Sep 2013 17:32:03
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