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re: Want to lease a luxury car with $450 vehicle allowance, but my wife says get a used car
Posted on 5/6/21 at 4:08 pm to GetmorewithLes
Posted on 5/6/21 at 4:08 pm to GetmorewithLes
quote:
First, when a company gives you a car allowance they dont give a shite what the spouse wants. It kind of depends here because it is influenced by what tbe company wants
This. Better be safe and get a nice car. At least for the first bit with a new company. Leasing is the way to go.
0
Posted on 5/6/21 at 4:09 pm to rickgrimes
He is gonna spend the money on a vehicle either way.
Just lease the vehicle and be happy
Just lease the vehicle and be happy
Posted on 5/6/21 at 4:21 pm to rickgrimes
Is it an allowance or a stipend? Big difference. If he gets to take home whatever he doesn't use, shouldn't he want to get the cheapest reliable thing he can and wisely use the difference? If he has to use it or lose it, wouldn't it make sense for him to get the most car (including maintenance costs) that he can get for 450 and not a penny more?
There is room to argue about the term of the note as a longer term should allow him to get more car for 450 a month, but I'd want that term to be as short as possible to reduce the chance the company cuts him loose before the car is paid off.
There is room to argue about the term of the note as a longer term should allow him to get more car for 450 a month, but I'd want that term to be as short as possible to reduce the chance the company cuts him loose before the car is paid off.
This post was edited on 5/6/21 at 4:28 pm
Posted on 5/6/21 at 4:25 pm to Chad504boy
that $450 is taxable income, you'd likely be better off with mileage re-imbursement
Posted on 5/6/21 at 4:28 pm to adhd
Also have to factor in gas, insurance, ...
Posted on 5/6/21 at 4:33 pm to rickgrimes
I mean it all depends on the terms of the allowance.
Posted on 5/6/21 at 4:43 pm to rickgrimes
Company car allowance = get a cheap reliable car and pocket the rest
Posted on 5/6/21 at 4:51 pm to rickgrimes
wait until he loses said job and is stuck with a $500+/month lease
Posted on 5/6/21 at 4:51 pm to rickgrimes
quote:
The car I want to lease would be an almost $600-a-month car payment. I do not know how we could afford to buy that new! I have been driving a used practical car, so this is my time. We are in our late 40s and have no kids and some savings for retirement. With my raise, we can save more.
Imagine being this much of a loser. Can’t afford a $600 car payment with a $450 allowance. Late 40s with no kids and little retirement savings. And taking orders from the wife
Posted on 5/6/21 at 4:53 pm to rickgrimes
The guy sounds poor and worried about appearance rather than being financially sensible. Cars are a money sink.
Posted on 5/6/21 at 4:56 pm to rickgrimes
start here
find the nicest car you can under the $500/mnth with the best lease terms, most miles/month left
find the nicest car you can under the $500/mnth with the best lease terms, most miles/month left
This post was edited on 5/6/21 at 4:58 pm
Posted on 5/6/21 at 5:02 pm to rickgrimes
I'd tell car guy to get exactly what he wants and tell his wife to deal with it. It's not often one gets the opportunity to have their ball relocation mission subsidized.
Posted on 5/6/21 at 5:07 pm to League Champs
I went through swapalease and found near me a 2018 Explorer Limited with 10 months and 12,000 miles left on the lease for a residual of $4500. So I have a fully loaded vehicle that I can drive 1000/miles a month for $450/month
pretty sweet deal, I turn it in August 13, 2021 and walk away from it
pretty sweet deal, I turn it in August 13, 2021 and walk away from it
Posted on 5/6/21 at 5:21 pm to supatigah
quote:
and walk away from it
and then what?
Posted on 5/6/21 at 5:27 pm to League Champs
quote:
Never lease
I mean this
Have you seen the interest rates today? As long as you are barely functional in personal finance you would be a complete idiot to lease anything.
Posted on 5/6/21 at 5:52 pm to Jcorye1
quote:AND the implication.
I mean it all depends on the terms of the allowance.
Posted on 5/6/21 at 6:09 pm to League Champs
quote:
and then what?
Start over?
This post was edited on 5/6/21 at 9:07 pm
Posted on 5/6/21 at 6:13 pm to rickgrimes
i think his idea of luxury car is buying the camry instead of the carolla
pocket that money and drive a beater
any used 10yr old toyota will have around 150k or less on it and will go to 500k miles if you change oil regularly
pocket that money and drive a beater
any used 10yr old toyota will have around 150k or less on it and will go to 500k miles if you change oil regularly
Posted on 5/6/21 at 6:50 pm to JPLSU1981
On the lease you are getting the car at sticker price. When buying you are negotiating below sticker price.
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