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Tilted Cat Head
Administrator
Location: Manhattan, NY
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Quote:
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Originally Posted by The_Jazz
Here's a question for everyone - are there circumstances where leasing is the better option?
More details - we own two cars now, but mine is pretty much just a beater that I use to get back and forth to work. Since I really have never cared about cars beyond their ability to provide reliable transportation, it's never been an issue. However, while the car still runs well, it's starting to show it's age, and I have no intention of putting more money into repairs than the car's worth. So we're discussing buying or leasing a new one.
We only plan on keeping whatever we buy for 2 or 3 years, and it will primarily be driven by my wife to chauffer the baby around. In other words, it won't be driven hard or have a lot of miles on it. I'll take her car. Insurance isn't an issue since I'm most likely over-insured. I think that we're a prime candidate for the lease option, but what am I missing?
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what happens at the end of 2-3 years? she walks? you lease another vehicle?
again, it's just renting a vehicle. If you don't want to own or have the vehicle as an asset, then leasing your way of "renting" long term. Maybe you should look into a long term rental, some places now do this and you can rent a car and change it every week if you like...
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