Quote:
Originally Posted by MrMaxwell
That all depends on what it is.. whether to lease or buy.
Find out what the resale is like on whatever you're driving.
Figure out if your pattern of use would impact the cost of a lease.
Never have set in stone stubborn assed rules.
ALWAYS do the numbers.
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The numbers, more times than not, will say "don't ever buy a car!"
A car will always depreciate in value, unless it turns into a collector's item. But, I think it's safe to assume that the cars we buy today have absolutely no chance at becoming collectors items.
If you buy a car, you own something that will depreciate in value every day, regardless of whether you use it or not.
I see a car as an expense, no different than my cell phone or cable bill. Every three years, I return the car and get a new one. My numbers say i would pay my car in full in 81 months (7 years) if I was using my lease dollars to pay for the actual car. By then, I would have to worry about the car breaking down, out dated gadgets, and usual wear and tear. Instead, I'm paying 1.2% of my car every month for three years, and then return it for a brand new one, which I will continue paying the same 1.2% every month.
I pay $125/m for my cable and internet. If Time Warner Cable offered you their cable box and the cable/internet service for a flat fee of $10,000 (and then YOU be responsible for the box if it breaks down), would anyone do that? Not to mention the fact that the box will be outdated in just a few years.