Detroit wrote: ↑Tue Oct 22, 2019 3:19 pm
max225 wrote: ↑Tue Oct 22, 2019 2:51 pm
I don't necessarily agree with this.
If a car is worth $1000 and you dump $1500 to keep it going for another year... You're still better off than leasing a new civic. Financially speaking. But yes you'll be a poor fuck in a shit car.... but it just depends on your priorities.
You are, if you have the $1,500 to blow on it. And that's assuming that's all that's wrong. Other engine components, suspension, interior stuff, etc are all prime to fail as a vehicle ages. If you depend on it, and keep dumping money into it when it's worthless, are you really gaining anything?
Many people in that situation do not even have the means to pay for repairs. A $1.5k transmission job might set them back a ways financially. While it goes against financial planning best practices, sometimes it makes sense for someone to lease a cheap Elantra or something so they have reliable transportation to get to and from their job, and hopefully prosper economically as a result. I'm not talking about :fullretad: $700/mo Gladiator leases, but a $150/mo cheapo econobox.
Missing a meeting because my car broke down again or the bus was late can have pretty negative impacts on someone's job prospects, not to mention their psychological health.
there is a lot of opportunity cost in owning an unreliable vehicle.
I think the cheapest ways to vehicle are either buy something used that depreciated like a rock but is still modern (my buddy just sold his 70K mile manual 2013 Focus hatch for $4800, this car will run another 170K no problem and be cheap as hell and reliable) and drive for 8-10 years, rinse repeat. Alternatively, for a little bit more, you can shop
leases like Jetta, Elantra for sub $150/month.
But we all spend more and
because we enjoy it, which is fine, we all also have jobs, income, money. It's no different than buying new clothes, going out to eat, you name it.