Leasing vs. Financing
Okay so I decided to seek the advice of the all knowning forum on this one.
Since I took that internship at the beginning of the year, and have been getting paid pretty well, I am thinking about getting a daily driver car to have at school the next couple years.
Right now I share a car with my brother and sister, and while I know I am lucky enough for that, it is seriously a hassle during the summer, and I dont have anything at school. As you recall it takes 20 minutes to drive to my office, an hour and ten on the subway. I spent 10 hours a week traveling. I am the youngest of three, My brother is in college and doesnt work, my sister just graduated and is working but also paying college loans now. So I am actually working the most with two jobs and school, and am the only one who could afford to get there own car and make the car hassles alot easier.
Anyway, thus far I have been planning on leasing a car rather than buying one. My reasons being A: its cheaper payments for more car. B: In 3 years I will be paying back college loans and dont think I can pay car payment then.
My plan is to lease a car on a lease that will run out just as I am graduating college. I plan on either staying and working in Boston, or going to New York to work on Wall St. So I might not need a car then either. Yet with a lease I am essentially "renting" a car and when its over have no value left. I have mileage limits also.
So I am just curious what you guys have done or recommend. You can also say dont buy anything...because that is just as likely right now. It means I have to work next year and probably senior year during the school year, it also means I am not saving as much, but in the sphere of college loans I wouldn't make much of a dent anyway.
Oh and also: The Camaro would be taken care of, I already factored in the Camaro's insurance, and plenty of money for the upkeep and updates. Thats my baby and comes first anyway.
Anyway just feel free to offer any opinions you want.
Thanks
Tim
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