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Joined: Jan 2009
Posts: 771
Campfire Regular
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Campfire Regular
Joined: Jan 2009
Posts: 771 |
Leasing is often a bad idea, sometimes it makes sense. My wife leases her large SUV but we deduct virtually all of the cost of the lease in connection with her home based business. Plus, we used the money we had saved up for what we originally planned as an SUV purchase (plus trade in for her old car) to help pay our mortgage off this month. The free service (oil changes, washes, etc.) help soften the blow a bit. Not sure we'll do it again when her lease is up but it made sense for us at the time.
Last edited by Techsan; 03/30/17.
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Joined: Nov 2010
Posts: 37,162 Likes: 3
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2010
Posts: 37,162 Likes: 3 |
Yeah, I didn't mention the business write off which sweatens a lease deal.
Otherwise, I agree. Buy one, maybe a good used one, and drive it as long as it'll drive...
DF
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Joined: Jul 2004
Posts: 302
Campfire Member
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OP
Campfire Member
Joined: Jul 2004
Posts: 302 |
I can agree with you there....never said it was a sin. If I could afford the payments and drive it long enough where depreciation and maintenance etc. were manageable to me, I'd have no problem doing that. For those of you who don't know, this is a pretty cool site about everything car/truck/motorcycle etc: Jalopnik Cheers, R
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Joined: Jul 2009
Posts: 14,076
Campfire Outfitter
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Campfire Outfitter
Joined: Jul 2009
Posts: 14,076 |
I've never needed a fancy car or truck, I've always seen them as tools that get me to and from places that I need to be. They need to be reliable, comfortable and economical that is about it.
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Joined: Nov 2002
Posts: 33,752 Likes: 6
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,752 Likes: 6 |
Yep. I drive an old 73 Ford.
Conduct is the best proof of character.
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Joined: Jun 2012
Posts: 10,068
Campfire Outfitter
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Campfire Outfitter
Joined: Jun 2012
Posts: 10,068 |
Ed, I hate to see you driving that old jalopy. I'll trade you my 2013 sedan (work car) for it straight across.
Mercy ceases to be a virtue when it enables further injustice. -Brent Weeks
~Molɔ̀ːn Labé Skýla~
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Joined: Nov 2002
Posts: 21,790 Likes: 2
Campfire Ranger
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Campfire Ranger
Joined: Nov 2002
Posts: 21,790 Likes: 2 |
Leasing a car is a great idea
That way I can buy the returned car with low miles at a deep discount
"The Church can and should help modern society by tirelessly insisting that the work of women in the home be recognized and respected by all in its irreplaceable value." Apostolic Exhortation On The Family, Pope John Paul II
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Joined: Jan 2006
Posts: 69,416 Likes: 11
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2006
Posts: 69,416 Likes: 11 |
When my mother quit driving 10 years ago, I bought her Pontiac Montana. A minivan isn't stylish but it's very handy and it runs great. It has about 160k on it now. I was able to pay cash for a 4 year old Dodge 2500 diesel about 4 years ago. It had 60k on it but that's nothing for a diesel. It just turned over 100k and unless I screw it up, it should be good for many years yet. I haven't made a car payment in close to 20 years.
“In a time of deceit telling the truth is a revolutionary act.” ― George Orwell
It's not over when you lose. It's over when you quit.
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Joined: Jan 2010
Posts: 32,130 Likes: 1
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jan 2010
Posts: 32,130 Likes: 1 |
Car payments are far from sinful, especially when you can get 0% interest. Technically, 0% interest wouldn't be usury by even the narrowest of definitions. When you're right, you're right.
If you put Taco Bell sauce in your ramen noodles it tastes just like poverty
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Joined: Jan 2010
Posts: 32,130 Likes: 1
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jan 2010
Posts: 32,130 Likes: 1 |
Sweet old Truck RVB.
If you put Taco Bell sauce in your ramen noodles it tastes just like poverty
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Joined: Feb 2007
Posts: 7,949 Likes: 5
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2007
Posts: 7,949 Likes: 5 |
Nothing wrong with buying new and making payments if you're smart about it. I could have paid cash for the last 3 vehicles I bought, but it would have cost me more money from lost interest income than I paid the bank in interest over the life of the loan. I have investments paying 7-8% interest and got car loans under 2%. I'd be a fool to pull that money out to pay for a car.
Two out of the last 3 purchases resulted in LOWER insurance rates even though the vehicles were either new or newer. Also, 2 of the last 3 vehicles I purchased saved enough in fuel costs to pay for 1/2 the cost of the vehicle in less than 200,000 miles.
An old truck that gets 15-17mpg will burn $25,000-$30,000 in fuel to drive 200,000 miles at todays prices.
Most people don't really want the truth.
They just want constant reassurance that what they believe is the truth.
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Joined: Jan 2012
Posts: 9,391
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2012
Posts: 9,391 |
I buy a new 4Runner every 95k miles. No breakdowns, no problems, life is good.
mike r
Don't wish it were easier Wish you were better
Stab them in the taint, you can't put a tourniquet on that. Craig Douglas ECQC
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Joined: Jan 2001
Posts: 21,317
Campfire Ranger
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Campfire Ranger
Joined: Jan 2001
Posts: 21,317 |
I've got a 2001 E430 as my commuter, great car but God help you if you need repairs.
If I could find a reasonably priced used 3/4 ton diesel I'd gladly get a used one, but anything under $10,000 has issues and a clean 10 y/o truck with over 100,000 miles is pushing $20k.
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Joined: Nov 2002
Posts: 33,752 Likes: 6
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,752 Likes: 6 |
I actually prefer hopping into my '99 F150 that resides in Idaho over my 2014 Tundra here. It has just over 100k and has been issue free.
Conduct is the best proof of character.
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Joined: Feb 2006
Posts: 43,930 Likes: 12
Campfire 'Bwana
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Campfire 'Bwana
Joined: Feb 2006
Posts: 43,930 Likes: 12 |
1990 F250 4x4. 7.3 diesel with 155,0000 kms (96,000 miles). Paid about $3400 in US funds. Stole it! A 3-4 year old diesel in nice shape with similar miles would be close to 10x what you paid. And the turbo could go out tomorrow and I bet it would be over $3400 to replace..... And the tires on your pickup look good, hell that's a grand right there. We just paid off my wife's Explorer(18k miles, plan on keeping it for awhile...). Only payment we have left is our mortgage. Couple years that's gone and we can try to buy something else(real estate). Payments on things that depreciate suck. Payments on other things pay off.
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Joined: Dec 2003
Posts: 2,244
Campfire Regular
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Campfire Regular
Joined: Dec 2003
Posts: 2,244 |
I have not had a car payment since I was 19. I have driven a lot of junk! I never paid more than $3800 for a car until age 45 when I purchased my Chevy Equinox.
Current fleet: 2001 Yamaha Zuma 50 scooter - lots of fun! Keeps miles off of the daily driver. 2008 Chevy Equinox - Paid $18,500 cash for it in 2010. Daily driver. 1988 Chevy Silverado - For when I need a truck. Gets driven about 3,000 mile per year.
"There's no schadenfreude like Hillary Clinton schadenfreude." - Tamara Keel
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