Car Fleecing on Long Island

[Frugal_NYC]

Was reading my hometown paper Sunday and nearly spit out my coffee

"When Long Islanders need a new car, almost six in 10 lease it"

Apparently in NY area the desire to keep up the charade of wealth is much more pervasive

[EricP]

That doesn't surprise me too much, most New Yorkers don't really need a car so when they do it's just a short term thing and aren't leases easier to give back to the dealer.  You just pay a fee and drop it back off if you decide to terminate early.  Much simpler than trying to sell it.  Sure, it's stupid, but I can see the reasons why they do it.

[zephyr911]

That doesn't surprise me too much, most New Yorkers don't really need a car so when they do it's just a short term thing and aren't leases easier to give back to the dealer.  You just pay a fee and drop it back off if you decide to terminate early.  Much simpler than trying to sell it.  Sure, it's stupid, but I can see the reasons why they do it.

NY (especially NYC) is no place for a new car though. The city is brutal for bumps, scrapes and gouges, the entire region is brutal for rust, and everything is ridiculously expensive to insure. My '02 Protege was running me over $200/mo with a clean record when I lived in Brooklyn. If you need a car in or near the city, a beater is the only thing that makes sense.

[One Noisy Cat]

   I live on Long Island and I remember 10 years ago a co-worker casually mentioned she leased a car (home was 25 miles away) and leasing is the only way to go. But somehow I doubt 60% actually lease, even though I never asked other people.

[NoraLenderbee]

Long Island != NYC. LI is suburban and doesn't have great public transit; it's much more car-oriented.

[zephyr911]

Long Island != NYC. LI is suburban and doesn't have great public transit; it's much more car-oriented.

True enough, but new cars are still a really dumb idea there.

[One Noisy Cat]

Long Island != NYC. LI is suburban and doesn't have great public transit; it's much more car-oriented.

As we always say, the world's largest parking lot is the Long Island Expressway.

But I find living in a town I can walk/bike to 95% of my needs, even the LIRR station. And I've lived other places where you couldn't.