Quote:
Originally Posted by Sliver
I find it weird you seem so concerned about something logical like the numbers side of things, yet are completely hung up on the emotional side of this, which is "I want a new car." The car you are driving right now is used - used by you, but still used.
Anyway, I'm with bizaro - I like to buy my cars. My daily driver is a 2005 and was originally purchased by some sucker for $56,000. I bought it with 54,000 kms in 2008 for $17,500. I haven't had a monthly payment on the thing ever, maintaining it is relatively cheap ($800 on brakes a few months ago is the only significant money I've put into it aside from regular maintenance and tires).
You putting $400 or whatever a month into renting a car seems crazy to me since your argument centers on it making financial sense.
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Similar to what we did with our one car. Someone bought it new in 2005 for $69k. We bought it with 50,000 kms in 2009 for $24,000. I've never had a payment on it and other than regular maintenance we've put in about $900 more in a few fixes. Since we bought it we've put on 35,000 miles (yes miles...we moved in that time and that's what the odometer gives me now!). We did buy a new Accord in 2009 as well. Given we had no credit rating in the states at the time and no other dealership would deal with people on visas we had little choice (Hyundai or Honda were the choices we had). We did payments for a year to help with the credit rating (along with our mortgage) and then bought the car out. If I didn't need to build a credit rating I won't do payments (lease or buy) unless it's 0% financing.
Leasing is also not an option for us given the amount of miles we put on our cars. Since we moved down here 2 years ago (in January), we have put over 65,000 Miles on our two cars.