Mark (mhaithaca) wrote,

Why do I lease? (208.8)

A couple of people were curious after my post last week, so I thought I'd expand a bit on why I've been leasing cars instead of buying them. As I said, this time around it's partly out of habit, and partly to keep the monthly expense and commitment down.

The first time I leased a car was my third car. With the second car, I loved the moment when the five-year loan ended, and I didn't have to keep making monthly payments. That delight didn't last as long as I'd have liked, though. Before long, things needed maintenance or repair, things wore out, and I was spending money month after month again. After a while, I had a couple thousand dollars of work I'd been putting off but wouldn't be able to put off much longer, and was spending money again and again.

One of my visits to the shop, the salesperson who'd sold me that car said, "You know, you could trade this in, and there are great lease deals right now." He did the math, and I was able to lease a brand-new Accord for $179 a month. Going from spending money month after month, but never knowing how much, to a predictable amount, was a nice change of pace!

Basically, I have grown to like knowing that by the time a car has a lot of problems, they're someone else's problem.

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