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I think what parent is saying is people lease or finance cars so they can drive cars they wouldn't be able to afford in full. That is, those people can afford t
by Dalewyn 3y ago
I think what parent is saying is people lease or finance cars so they can drive cars they wouldn't be able to afford in full. That is, those people can afford the monthly payments but cannot afford paying the sticker price.
An easier to understand example would be how most people finance iPhones with their carrier. Most people balk at paying one or two grand for a phone, but don't mind paying ~$50 per month. At the end of the loan when they pay off the balance, or maybe even before that if the carrier offers, they upgrade to the next new iPhone.
- highwaylights 3y agoWhich also seems a bit wild to me. I won’t buy a new phone let alone a new car.
- Dalewyn 3y agoI only new because buying new means I do not have to worry about its history, it comes with manufacturer warranty. Buying used is rolling the dice on whether I end up with a Hangar Queen demanding attention I don't want to give. Time is money, as the saying goes. Buying new is more expensive, but it's cheaper in the long run with the time and money I did not have to waste on unexpected upkeep.
- tonyedgecombe 3y ago>Buying new is more expensive, but it's cheaper in the long run with the time and money I did not have to waste on unexpected upkeep. It depends. We tend to buy three year old cars and on the whole they have all the niggles resolved by then. After that they don't start having problems until at least 100,000 miles. So we pay half the price for no extra aggravation.
- SirMaster 3y agoDoesn’t need to be need for manufacturer warranty. My certified preowned car actually came with slightly more miles and a slightly longer manufacturer warranty than a new model would have.