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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We are also debating leasing vs buying.  We own our car outright and the dealership said we should expect 2-3k a year in repair costs.

We could lease a new 3 series for 3k down and 300 a month.  So for around 1,500 more a year we could drive a new car and not face any repairs or maintenance costs.

I understand how some think buying is better financially but at the end of the day it seems both options suck.  When you buy you're investing in a depreciating object.  You face repairs on a car, especially the older it is.  When you lease you're just renting a car but avoiding the maintenance costs.

I'm at a loss as to what to do.  [/quote]

What year is your Ferrari? Seriously, what normal car has 2-3k a year in expenses, that dealer is fleecing you. I have an older BMW and even that doesn't go past $1200 a year on its worst years. [/quote]

A bmw.  We had 2k in repairs last year alone.  We've had it taken to different shops too.  It's not like we only went to one dealer.  [/quote]

When I had a Mercedes SUV, I paid way more than $2k a year on repairs and maintenance.  Easily paid double, or triple on a bad year.  I now have a Japanese car that's much cheaper to maintain, but not as nice.[/quote]
This.  Had a couple of Audis and a BMW.  They were nice and fun to drive, but real pieces of shit and cost a lot to maintain (that's how German cars are).  Bought a couple of Japanese cars for cash and got 15 years out of one.  Subtract what I sold it for from what I paid for it and I ended up spending about 4-5k for those 15 years plus a few grand in repairs.  I have another Japanese car that I have 11 years in now and it hasn't needed anything beyond routine maintenance other than a rusted out heat shield ($600).  Bought another Japanese car in 2014 that I expect to last for at least 10-15 years.  Argue all you want, but you simply can't beat paying cash for Hondas or Toyotas and then driving them for a decade plus.  If you are so caught up in appearing ghetto rich then, by all means, keep leasing the European cars, but don't try to convince the rest of us that your strategy makes any kind of sense.  It's a way for you to appear wealthy and is nothing but a waste of money.[/quote]

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