Then you can average one “bad repair” a year and break even, which is an unlikely frequency for a “bad repair” if you’ve purchased a vehicle with a strong history of reliability.
This is because of all of the money that they waste on everything else, like new phones, trips to Disney World, tattoos, NFL jerseys, surgery for 12-year-old cats, etc. And buying (or leasing) too much car.
It doesn’t make more sense for most scenarios if people buy reasonable cars with good long-term reliability.
A fixed budget comes at a cost. Like getting a pony for Christmas.
I got my 2017 volt for $279/mo with absolutely zero out of pocket(thanks to this site) .I fill up my gas tank once every two months. To me leasing is a no brainer if you can be under $300/mo. Even if over a ten year period you spend $2,000 more leasing over buying that is not enough money for me to deal with the unknowns that exists with owning a car that is several years old.
I bought this from PenFed for $1,495, but not before checking with my INFINITI dealer, who reported positive experiences with the company that underwrites the coverage (Route 66).
The plan covers 5 more years/100,000 total vehicle miles (car had 74,000 when I added the coverage), and it’s comprehensive (main exemption is the navigation system, which was optional coverage that I declined).
So I’m covered against most repairs for 5 years on a 9-year-old car for $24.92 a month.
Unlike the original plan I bought from INFINITI when the vehicle was new, this coverage has no deductible.
Being “bored with a car” doesn’t make it a better financial decision to lease vs buy. It’s a financial choice you’re making to lease a new car every couple years. That doesn’t make it the best one.
…best choice…or financial choice…but no way “best financial choice”.
If you wanna prove it to us do it with numbers…we can all understand numbers…words play…not so much.
I lease cars for $300/mo for 24 months so I don’t have to deal with this…reliability is worth the extra $1000/yr, if it’s actually that much. Waiting for things to break so they’re covered under warranty isn’t worth it. And wear and tear parts aren’t covered. Brakes rotors, ball joint, control arms, cat converters, tires aren’t cheap. If you have time to work on your own car then buying exponentially makes more sense. Most people are too busy
The insurance costs do not necessarily go down on an older car. The insurance on my 2017 Audi A4 cost less than the insurance on my wife’s 2012 Camry. I assume the lower rates on the Audi were due to it having more safety features.
