I have learned that a car is an ongoing loss. The only choice I have is how do I want to take that loss (assuming I must have a car). I have tried multiple methods - leasing economy cars, paying off and keeping older vehicles, making payments on lightly used vehicles - I have never been able to figure out the best way.
In the end it depends on your needs. I leased a Honda Civic for 3 years and had a really small payment and no repairs. I made payments and had repairs on other vehicles and that ended up being more expensive than leasing.
I don't have the best answer but if you know how much you drive every month and can drive an economy car then a lease on a civic or corolla will give you an exact and consistent cost to budget for which is nice especially if extra funds are in short supply.
Siggy updated Feb 16 2023
