Car?
I have an appointment at the bank tomorrow to ask for some loan consolidation. Hopefully this consolidation (if they give me what I'm asking for) will allow me to lease a new car in may or june. Yup, I think I'm going to lease a car for 4 years. I calculated the following for all your nay-sayers:
If I purchase a car this year I will only be able to comfortably afford taking out a $13000 loan (if the bank gave it to me). This $13000 would only buy me a used car and an old one at that (at least 4 years old).
This would be okay for a number of reasons: A)New cars lasted 10 years like they used to B)I had extra money to do any needed repairs as required.
If I were to lease a vehicle I would still only be spending about $13000 on the lease itself (over 4 years) BUT I would be furnished with a brand new car under manufacturers warranty, not have to worry about unforseen repairs (only regular maintenance), and in 4 years I can decided whether or not i'm ready to purchase a car or to keep leasing (or the other option is that I move to Italy and drive a Vespa).
So. Let's hope that instead of asking the bank for an 11000 debt consolidation loan PLUS 13000 for a car, they will instead give me 11000 for debt and possibly $5000 to cover first year of insurance and a down payment on the car of my choosing.
I choose this one:
If I purchase a car this year I will only be able to comfortably afford taking out a $13000 loan (if the bank gave it to me). This $13000 would only buy me a used car and an old one at that (at least 4 years old).
This would be okay for a number of reasons: A)New cars lasted 10 years like they used to B)I had extra money to do any needed repairs as required.
If I were to lease a vehicle I would still only be spending about $13000 on the lease itself (over 4 years) BUT I would be furnished with a brand new car under manufacturers warranty, not have to worry about unforseen repairs (only regular maintenance), and in 4 years I can decided whether or not i'm ready to purchase a car or to keep leasing (or the other option is that I move to Italy and drive a Vespa).
So. Let's hope that instead of asking the bank for an 11000 debt consolidation loan PLUS 13000 for a car, they will instead give me 11000 for debt and possibly $5000 to cover first year of insurance and a down payment on the car of my choosing.
I choose this one: