Quote:
Originally Posted by themush1326
I ended up buying out my lease since it only had 10 K miles at the end and BMW FS gave a 4K discount off residual
So I guess I’ll find out how reliable it is over the next few years
I also think the amount of money you spent versus what your lease/purchase payment would be should factor in
If you spend let’s say $2500 a year on maintenance and repairs you’re not gonna be able to buy anything or buy anything for $200 a month
Themush
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I've always been fascinated by this perception. Where people justify purchasing a new car because their old car is costing them "thousands in repairs". But if you compare that to the cost of a new car, it's almost always cheaper to just continue to repair the old car (with some exceptions obviously).
I think that stems from the fact that most people are terrible with money, and they don't set aside money for "emergencies" like the car needing a new $2,000 transmission. It's easier for them to stomach a fixed monthly $500 cost than an unexpected one time $2,000 cost.