06-24-2002, 06:00 PM
You just have to pay for your ego and have a new ride. I am comfortable buying a vehicle and sticking with it. Plus, I figure my nephew, who is 5, will get my truck when he turns 16. If you want, I can quickly and easily run some numbers.
I would assume any car after 4 years is worth 20% of its original value and let say it only last 7 years..... at 8.00% discount, with no money down (or equivalent money down), a lease payment of 75% of the loan amount would be about the same (again assuming no additional money down to get the second car). If you plan on keeping the bought car for 9 years, 65% of the loan amount would be equivalent.
But also remember, newer cars have higher insurance rates.
And remind me not to touch anything that you have used... 16K and not an oil change? I will never buy a used car again because I know some asshole got the thing on lease and did not care for it (not just you K1d). No wonder you don't expect a car to last 10 years.....
But Dent, if it's been 3 years and you're already bored with your car and need to get a new one,
1) you should lease because you are just going to get bored with this one.
2) reevaluate your financial situation and base beliefs.
I would assume any car after 4 years is worth 20% of its original value and let say it only last 7 years..... at 8.00% discount, with no money down (or equivalent money down), a lease payment of 75% of the loan amount would be about the same (again assuming no additional money down to get the second car). If you plan on keeping the bought car for 9 years, 65% of the loan amount would be equivalent.
But also remember, newer cars have higher insurance rates.
And remind me not to touch anything that you have used... 16K and not an oil change? I will never buy a used car again because I know some asshole got the thing on lease and did not care for it (not just you K1d). No wonder you don't expect a car to last 10 years.....
But Dent, if it's been 3 years and you're already bored with your car and need to get a new one,
1) you should lease because you are just going to get bored with this one.
2) reevaluate your financial situation and base beliefs.