Among Friends

[qbetzforreal]

Do your research and find out what you basic transportation needs and what make and model meets those need.  Then go to reputable dealer and purchase a used car.

Also to your statement about the greatest generation and baby boomers- my parents, aunts, uncles, their friends, my friends' parents would get a new car at least every two years.  Trade the old one in and come home with a new one or pass the old one down to the first kid who was driving.  A new car was the sign you were successful.

@Reever

[sfnative]

@Reever

Here's the deal about leasing a car:  Every single day you're driving that car, remind yourself that you're renting the car.  That's right - renting the car.  You receive absolutely no benefit from leasing a car.  And your niece and her "thing" about always driving a new car...well, she may be driving a new car all the time, but she's renting a car ALL the time just to stroke her ego. 

Also, take a look at the up-front fees required when you lease a car.  Whoa!  And, then when the term of the lease is up, you better have that car 100% in line and ready to turn in.  And when you do turn it in, guess what?  You have no car and how much money have you been forking over every month for the pleasure of leasing a car?

Perhaps it makes sense, if you can fold the cost into a business.

[qualitygal]

buy it. make your money count.

[VaBelle35]

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@Reever wrote:
Clark Howard doesnt even have a credit score because he has frozen all his credit lines and pays cash for everything.

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Hopefully he has a debit card, as this seems really impractical.

I sold some family jewelry last week and she paid me in cash.  Luckily I was not too far from my bank, so I could deposit it.  I wasn't comfortable walking around with several thousand dollars in $100 bills (plus it didn't really fit in my wallet).

[bootsanne]

Leasing works for me.  I want to drive a new car every 3 years.  In fact I'm leasing 2 at this time, a small Chevy Trax for just running around town, doctor visits, grocery shopping,  etc.  Also a luxury Suv for longer trips .  A lot of people think I'm throwing my money away, but if either car has a problem, the dealershop fixes it.  I find it no different than renting a house or apartment that I'll never own.  Our house that we do own has been a money pit this year so I don't want the extra problems of having a car that's older that needs constant repairs.  When my lease ran out on my Cadillac, the dealership picked it up at my house and we were not charged a cent for any wear and tear.  You can also look into turned in leased vehicles.  Because of the low mileage, they are in demand.  

[ladyk48]

CarMax? the pros and cons.  Thank you 

[patbz]

In June we bought the first used car we've owned in 16 years.  It's a 2015 Buick Lacrosse with 16,000 miles (we also got the Car Fax).  The dealer tried mightily to get us to buy an extended warranty (we didnt).  If we have an expensive repair we would sell car at once.  We will probably keep this car until it has 150000 miles; the way we travel that's six years.  Our Son is driving our paid off Prius V that has 178,000 miles (we think this car should last to 250,000 with regular maintenance (primarily oil changes and tire rotations).  Btw I am almost 75 and don't have plans to stop driving unless my health changes.

[jannabelle1]

When I was younger, my ex and I used to lease cars...what a mistake. I'd never do it again. I'd rather buy a good previously owned car from my reputable dealer. I'll get a good rate for a loan and pay it off as soon as I can. A leased car is fine people who can write off their monthly lease payments as business expenses.