J-36, you might want to consider having drive-aid systems - rear camera, blind spot warnings, out of lane warnings, too close tailing warnings. I'm several years short of your age & I find them quite helpful. Cost me multi $K's, but they come into play over & over. Perhaps I'm a bad driver.
Again: New car lease vs.buy
- Thread starter JOHNNIE36
- Start date
That's a really good point. One I had considered when I was running this argument through my own mind prior to my last new car transaction, and then neglected to come up with in my discussion about accidents and lemons. I 've had this happen to me, unfortunately, when I bought a very nice Volvo, and realized later that I should have bought the model one size larger.
Also, my wife's Subaru, after I drive it for an hour, my legs get numb it is so darn uncomfortable for my body. Sheer torture to drive it long distances, which is why I chose to get a better road car for myself.
superdave
Recycles dryer sheets
We live in a very walkable neighbourhood. Last summer we sold our second car. At first my wife was hesitant, but now thinks it was the best move we have made in a long time. She actually enjoys walking to the gym, grocery store and back home as her morning routine. On rainy days, she puts on her splash pants and goes about her walk.
Unbenounced top her, I am thinking about getting rid of the primary car. We use public transportation a lot know, as parking costs are crazy when we 'go down town'. We are golfers, which kind of makes a car mandatory, but can easily switch to other hobbies we have. I really think car free will happen for us one day....
superdave
Recycles dryer sheets
I have leased a couple cars in the past. Each short term lease was a pretty good deal at the time, and there were no surprises at lease end. However, what starts happening is that if you have two leased vehicles, you always seem to be in car researching/replacement mode.
Go to Toyota and buy a Camry (not hybrid) get all the options you desire and can afford. They are rock solid on reliability.
I've got 2 Toyotas and never 1 problem.
They have a reputation for being among the most reliable with the least issues.
Sent from my iPad using Early Retirement Forum.
I've got 2 Toyotas and never 1 problem.
They have a reputation for being among the most reliable with the least issues.
Sent from my iPad using Early Retirement Forum.
JOHNNIE36
Thinks s/he gets paid by the post
Bought a 2016 Camry XLE yesterday. Wanted to get in on 0% financing, zero out of pocket, while that deal was still available. Took it for 72 months but plan to pay it off in about five years. Now the dealer has to search inventory for the color (ruby) and the leather (almond) we want. I mentioned earlier that this is probably our last car so it better be a good one. If I can just get the other dealers to stop calling me I'll be happy.
Enjoy your new car. I have bought new and used over the years but I am convinced that the best economical deal for me has been buying new, maintaining the car and driving it for 150,000 or more miles.
While my kids were growing up we had one mini van and one or two Honda Civic's. With Civic's you can buy two for what some people pay for one fancier car. The key if you buy new is to drive it for a long time and dump it only when it becomes unreliable.
GTFan
Thinks s/he gets paid by the post
I always buy 2-3 year old used with less than 50k miles, that's the value sweet spot and has been for years. Plenty of used cars available here at 30-50% off new price in that category, many of them still under warranty so you can get any issues fixed after you buy. But nowadays car reliability is not the problem that it used to be, at least for major stuff. There's not a lot of truly bad cars now. With the few miles we drive now such a car can last 15 or more years, easy.
I also don't want hundreds of dollars put towards a lease or car payment every month, so I pay cash upfront.
I also don't want hundreds of dollars put towards a lease or car payment every month, so I pay cash upfront.
Honestly, not seeing this with Hondas and Toyotas.
Obviously buying and keeping a car for 10 years is the cheapest way to drive a car, but the OP is 80 and I assume he has more than enough money to last his lifetime. Is the most cost effective plan really the way to go? Especially at 80?
No way I would want to worry about repairs on a 8-10 year old car at 88-90 years old. I would want a new hassle free comfortable new car every 3 years. If you already know you will want a new car every 3 years, leasing is at least as good if not better than buying. I would lease. Hands down.
No way I would want to worry about repairs on a 8-10 year old car at 88-90 years old. I would want a new hassle free comfortable new car every 3 years. If you already know you will want a new car every 3 years, leasing is at least as good if not better than buying. I would lease. Hands down.
travelover
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Mar 31, 2007
- Messages
- 14,328
My experience as well. Used selling for close to what a hard bargained new sells for.
GTFan
Thinks s/he gets paid by the post
Did I say Honda or Toyota? No, what I said is that most cars sold nowadays are reliable and there are plenty of good deals in the 2-3 year old range (especially if you go with off-lease cars).
I don't give a fig about resale value if I'm keeping it for 10+ years, nor am I worried that because it's not a Toyonda it's going to crap out. I have no problem buying a 2-3 year old domestic make and letting someone else take the big depreciation hit.
Agree that if I was OP's age and had the nut to afford whatever I want I certainly wouldn't bother with used vs. new, but this turned into another generic lease-vs-buy thread.
I don't give a fig about resale value if I'm keeping it for 10+ years, nor am I worried that because it's not a Toyonda it's going to crap out. I have no problem buying a 2-3 year old domestic make and letting someone else take the big depreciation hit.
Agree that if I was OP's age and had the nut to afford whatever I want I certainly wouldn't bother with used vs. new, but this turned into another generic lease-vs-buy thread.
Last edited:
papadad111
Thinks s/he gets paid by the post
- Joined
- Oct 4, 2007
- Messages
- 1,135
This was a good article from some months back on why leasing the hybrids and EVs make sense. Primarily due to the technology cycle and also the tax incentives. One example cited made very good financial sense to lease vs buy.
http://www.greencarreports.com/news...ers-love-em-but-dont-buy-em-why-leasing-rules
As to the OP, I would also buy. Congrats on the new car !!!
Reasoning: If i were to kick the bucket, i wouldn't want my 80 YO DW to have to deal with the lease renewal or buyout or other car dealer hassles.
At this stage in life, if it were me, I think I would be seeking life and financial simplification as much as possible vs saving a few shekels here or there. That points to buying.
http://www.greencarreports.com/news...ers-love-em-but-dont-buy-em-why-leasing-rules
As to the OP, I would also buy. Congrats on the new car !!!
Reasoning: If i were to kick the bucket, i wouldn't want my 80 YO DW to have to deal with the lease renewal or buyout or other car dealer hassles.
At this stage in life, if it were me, I think I would be seeking life and financial simplification as much as possible vs saving a few shekels here or there. That points to buying.
Bamaman
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
For an 80 year old, you still have some options in transportation. But realistically, how many years do you expect to be driving?
I would tell you to buy that Honda Accord or Toyota Camry and just drive it as long as it's reliable--which means it may be your last car. Properly maintained, either will go 250K or 300K miles.
I have leased a number of cars over the years--but they were especially incredible lease deals supported by manufacturers' incentives.
Now that I'm retired, I just choose my cars carefully for dependability and low depreciation. I'm now running a Lexus IS and a Honda Civic--along with a diesel Ford F250. And I've not had a single warranty claim in the last 550,000 miles driven--which means cars have never been more reliable.
I would tell you to buy that Honda Accord or Toyota Camry and just drive it as long as it's reliable--which means it may be your last car. Properly maintained, either will go 250K or 300K miles.
I have leased a number of cars over the years--but they were especially incredible lease deals supported by manufacturers' incentives.
Now that I'm retired, I just choose my cars carefully for dependability and low depreciation. I'm now running a Lexus IS and a Honda Civic--along with a diesel Ford F250. And I've not had a single warranty claim in the last 550,000 miles driven--which means cars have never been more reliable.
At least they are more reliable in the first 36,000 miles.
pb4uski
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Good choice... hard to go wrong with a Camry. I was going to suggest that since you think this is your last car and you were considering Honda or Toyota that you consider splurging for an Acura or Lexus.
Some friends of our recently got a Avalon and love it. Perhaps your Toyota dealer would let you upgrade to that if you want one last splurge and they don't have a Camry in stock.
Anyway, congratulations. I'll be in SCC tomorrow.
