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re: Buy or lease a car?
Posted on 2/23/20 at 5:02 pm to thadcastle
Posted on 2/23/20 at 5:02 pm to thadcastle
If you’re only going to keep it a couple years, lease it. This is expensive but better than buying new and trading in after a few years when vehicle depreciates at the highest rate. If you are willing to keep it even five years and pay it off, you will likely to pay less on a per year basis. Example: buy $36000 truck and trade in 6 years later for $22000. The truck cost you $14,000 to use 6 years or $2,333.33 per year excluding maintenance, gas and insurance. If you can get it sub $2000/ year for something you like, you’ve done well. The longer you own it, the cheaper it is.
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