Would You Rather....

Would you rather:
A) Have to pay for insurance + maintenance and keep the same car for multiple years (but no car payment)
- Pros: cheaper long term, pending repairs, can mod however I want
- Cons: driving the same car for a number of years (risk of boredom), risk of large repair, risk of spending money modding

or

B) Have a $450/month car payment that covers insurance and maintenance (2 year lease)
- Pros: no insurance payment, no maintenance cost, new car every ~2 years
- Cons: never being without a car payment, minimal ability to mod

Why do I ask? The TRDPro lease is coming due and I now work somewhere that will cover a lease, insurance, and maintenance for let's say... $450 a month for 2 years. The vehicle would be similar to a well-spec'd Tacoma.

My dilemma is that over multiple leases, that $450/month really starts to add up. Am I overlooking a really good deal?

 

That's how much I paid monthly on my taco. without insurance. and its not a lease.

 

IMO not having a car payment is well worth it. You are talking about a Toyota, so the worry about high repair costs is minimal. You will be ahead by banking the amount of the payment and paying cash when it is time for replacement. IMO leasing a vehicle is not a cost effective way to go. The only thing I can say about he boredom thing is that is a maturity problem.

SWMBO was commenting that someone on a news program mentioned that many retirees are being forced to take in roommates in order to make ends meet. That is a consequence of not planning well during the younger years.

 

Appreciate the feedback. I could definitely use a lesson in liking a car for more than 2 years. I buy and sell almost faster than a lease term would be.

 

Owning a car is way more than not having a payment on it. Owning a vehicle, means you've made it yours, whatever that means for you. Own it, use it, be proud of the fact you made it yours; it's all about perspective.

 

I would hold onto it. Always nice to not have a car payment. Personally, I would like to drive mine as long as I can. I will admit I do look at other cars a lot, but nothing that exists now is good enough to make me want to switch.

For instance, a few weeks ago I was thinking about how cool it would be to have a WRX. I'm a huge Subaru fan and I find myself thinking about the WRX a lot. It has a powerful boosted flat-4 motor, a great AWD system, 4 doors, and is fairly safe. But it is also rather small inside (I'm 6'4" and have long legs, so I need some room), it's low to the ground, it needs premium fuel, and it's a police magnet. The Tacoma has an NA V6 that makes decent power, true 4WD capability, great ground clearance, good safety and practicality, and can take 87 octane (MPG isn't great, but it's offset by being able to use cheap gas). While the Subaru WRX is an awesome car, I always come back to thinking that it just wouldn't suit me as well as the Tacoma would. Once you've had high ground clearance, it's hard to go back.

I do like the Crosstrek, too. It's a tough little wagon-type thing with decent all-terrain ability compared to most cars. I think a Crosstrek with the current base WRX engine would be a great little car. If I were to buy a new car now, I would maybe look at a Crosstrek. I still think I'd go with the Tacoma, though. I've never driven anything as tough and durable as my truck, and I really appreciate that about it.