▲ 378 ▼ Americans can no longer afford their cars (www.newsweek.com) submitted 2 years ago by throws_lemy@lemmy.nz to c/news@lemmy.world 115 comments fedilink hide all child comments
[–] joyjoy@lemm.ee 1 point 2 years ago (2 children) By the time you pay off your car, it'll be a piece of junk. How does leasing the car compare? permalink fedilink source parent hideshow 4 child comments replies: [–] ryathal@sh.itjust.works 8 points 2 years ago (1 child) Leasing is like setting money on fire and using money to put the fire out. The only scenario it ever makes sense is vs buying and selling a car every 2-3 years. Modern cars are extremely reliable, there isn't a good reason to need a new one in less than a decade unless it's involved in an accident. permalink fedilink source parent hideshow 2 child comments replies: [–] AA5B@lemmy.world 2 points 2 years ago That was my only hesitation for buying an EV: they’re too new and changing too quickly to have much track record on how well they last. I did go ahead though, so we’ll see in 10-15 years. Historically my practice is to buy a reliable car new and keep until major repairs, usually 10-15 years. It helps if you are able to set aside sufficient money to avoid a loan permalink fedilink source parent [–] AA5B@lemmy.world 1 point 2 years ago Leasing is usually a worse choice financially. However it can make sense in a few scenarios such as having to always have a new car and business expensing. Now might be one of the few times it’s worth leasing, in the US for some EVs where a lease can take advantage of the full tax incentive but a purchase can not permalink fedilink source parent
[–] ryathal@sh.itjust.works 8 points 2 years ago (1 child) Leasing is like setting money on fire and using money to put the fire out. The only scenario it ever makes sense is vs buying and selling a car every 2-3 years. Modern cars are extremely reliable, there isn't a good reason to need a new one in less than a decade unless it's involved in an accident. permalink fedilink source parent hideshow 2 child comments replies: [–] AA5B@lemmy.world 2 points 2 years ago That was my only hesitation for buying an EV: they’re too new and changing too quickly to have much track record on how well they last. I did go ahead though, so we’ll see in 10-15 years. Historically my practice is to buy a reliable car new and keep until major repairs, usually 10-15 years. It helps if you are able to set aside sufficient money to avoid a loan permalink fedilink source parent
[–] AA5B@lemmy.world 2 points 2 years ago That was my only hesitation for buying an EV: they’re too new and changing too quickly to have much track record on how well they last. I did go ahead though, so we’ll see in 10-15 years. Historically my practice is to buy a reliable car new and keep until major repairs, usually 10-15 years. It helps if you are able to set aside sufficient money to avoid a loan permalink fedilink source parent
[–] AA5B@lemmy.world 1 point 2 years ago Leasing is usually a worse choice financially. However it can make sense in a few scenarios such as having to always have a new car and business expensing. Now might be one of the few times it’s worth leasing, in the US for some EVs where a lease can take advantage of the full tax incentive but a purchase can not permalink fedilink source parent