Quote:
Originally Posted by DementedReality
but you did have a payment. the opportunity cost of not having your 24,000 in your bank and instead giving it to the car company in 1/48th increments.
to each his own, but I would rather give up 300 a month on a lease and pay it out of the 24k that I still have with no obligation other then that single payment.
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Yes I had one payment..you have a 48 payment obligation not a single payment. And then you have the next 48 payment obligation and I have no obligation if I keep my car for 8 years. And you know what? if I lose my job (a possibility in todays economy) I still have a car. I still have car to get my kids to where they need to go be it the zoo or the doctor. I have a car to look for that next job.
It's about choices. Your choice is to lease or make monthly payments. My choice is to make sure I minimize my obligations (outside of my mortgage) and reduce my active debts so that if something happens (hospitilization, loss of job) it minimizes the risk to my family. And we are paying down the mortgage as quick as we can to get out from under the one debt we have.