Cost of fuel...

[Garcia]

Originally Posted by Winnisquamer

I’ve done both, leased and bought. Of the cars I leased I benefited from, ended up buying out the leases and sold them for more I expected it to be a literal 3 year rental but hey I got lucky… my Tesla I purchased and could sell it today for 6k more than I got it for, love it, absolutely love it. I come from a family of mechanics so gas cars were the thing for us, EV? No way we use to say. once I became an engineer Tesla caught my eye as an employer and then a consumer. After owning it for a year unless I have to, I’d never buy a gas car again except for a tow vehicle etc where EV is just not there yet.. I personally won’t spend cash when rates are 1.8%. Over 3 I’ll drop the cash, I can easily tie up my 60k and earn more than 1.8% for an auto loan. Prior to my Tesla my last 3 cars were 0% financing. Tell me how it’s dumb to finance free money?

I leased once and it was a mistake. I realize it makes sense for some but I don't see myself ever doing it again. I usually buy late model used cars and go to the dealer with financing in place. After settling on a price, if the dealer can offer better financing I'll take it.

Right now, I am thinking of buying new. What I can get for my trade is pretty high and from the bit of looking I have done, I can get a better deal on a new car than I can get on a used one.

As to gas prices, both at home and at the lake i don't see price changing usage much. Where i live public transportation and carpooling isn't an option. Getting to and from camp requires a boat ride. I don't go on vacations other than to camp (and recognize how fortunate I am to be able to have the place) so will fish, do water sports, or simply enjoy the water regardless of gas prices. I am thankful I will be able to do so.

My guess is that a big increase in gas prices will keep some people who trailer and sped the day on the boat away, but as was mentioned in an earlier post, those who can afford a boat are probably less impacted by rising gas prices than others. Not that it might not be painful, but boat owners are probably not choosing between gas and food.