I modeled this off of my 2009 TTS. These are based on that cost, through year 7. It was only getting worse every year, and so I sold.
To be fair, these do still feel high.
3 vets said we needed a 10k acl surgery for my Pitt/lab. UPenn vet said conservative management might work. 3 months of that and he’s fine and running again. With all those savings I decided to get a necessary 7 series instead of paying down the mortgage
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That was my first reaction too…but have no idea what needs to be done every 3 years…brake flush?..pads?..that expensive air filter?
Great post! No doubt leasing has many benefits, some that can actually outweigh $1k per year premium.
Pets are terrible investments, should’ve leased it instead 
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Not to complicate matters but I was saying financially it makes the most sense to buy a reasonable car that is 3 years old and then hold it for a while. That makes a huge difference in the costs as I showed above with the 3 year old accord example, all fees and maintenance included. Comparing an accord to a loaded brand new acura is apples to oranges. If somebody must be in a new bmw leasing probably is the best way to do that. But I’m talking about reasonable and efficient transportation
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Should have told me to lease the wife before buying 
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We did 2 this summer at $5K each
Poor doggo. 10 weeks in dog jail after #1 Within two weeks of freedom, tore #2. Now she’s bionic so we good!
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Doggie surgery is expensive
Terrible residuals for sure.
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…it takes all my strength no to post a joke about this…
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Quick, back to the model cave!
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Leasing models is terribly expensive.
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They have high liquidity requirements. Plus a MF worse than AMGs.
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Check my math, as I did this in a hurry. But, it looks like at 5 years, it’s still better to lease killer deals than purchase a 3 year old used vehicle. At 10 years in, the savings is heavily weighted toward the 3yr used purchase (~2k/yr savings).
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I do not think we were comparing an Accord to an Acura.
I think in any comparison, just trying to make all cars as comparable as possible and people were talking about real world examples thus presented mine with the comparable current model.
Also, in your example, a 2016 Accord would be a 4 model years older than the current 2020 generation thus already a lower current value.
I think the math will always lean towards owning a car for a longer period (unless very unreliable) when compared to leasing.
Have to ask: pet insurance? One of my labs had an $8,000 splenectomy and insurance paid 80%.
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So hereeeeeesssss the reason why I am in favor of leasing versus buying:
I was going through a job transition Q1 of this year. First time in 8 years.
My dog had been completely healthy since we got her 6 years ago. She’s a Mississippi mutt-what could go wrong?
Premiums for her insurance went up to $60/month. I figured at the time…let’s cut some “unnecessary” spend.
2 months later, ACL tear #1 and well, you know the rest.
Moral of the story…variable costs, I.e. repairs suck.
While that $60/month may have seemed expensive, it would have taken her entire lifetime worth of premiums to equal the $10K her two ACLs cost.
Same reason I am a proponent of leasing. I’ll always find a way to make sure that extra spend is in my monthly budget. It feels a lot worse writing a check for $10K unexpectedly than it does to have an extra $60 expected cost in the budget.
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Spca insurance runs me $25/mo and pays 80%. Def a smart move. I got it as soon as my dog started limping. They cover recurring injuries after they have been healed for a year. No other companies does this for preexisting conditions.
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Yep-that was the second stupidest move I’ve made financially in recent times.
First was selling my condo in Boston 4 years ago when we moved to the suburbs and not renting it out.
You live and you learn. Can’t dwell on mistakes from the past. Just work harder to prevent them in the future.
Didn’t make that mistake myself but I could probably buy another condo or townhouse with the money I’ve lost on reselling or trading in owned cars over the years.
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