Author Topic: New car to replace a lease  (Read 2529 times)

Gloobityglop

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New car to replace a lease
« on: January 15, 2016, 08:41:39 AM »
I am currently in the third year of a four year leased car. I got it in my pre MMM days and I am trying to get out early. It's a 2013 VW Jetta. I hardly drive (2 miles to work, 8 miles to campus 2x a week). My girlfriend has a Honda insight so I was thinking about getting an electric car since we can use her car to go longer distances.

So far I've found the Nissan Leaf and Ford Focus are looking like they are my best bet. Unfortunately I don't have enough of a tax liability to utilize the full $7500 federal EV credit - I'd be able to use around $4000 of it if i buy new. Additionally I live in Florida so there aren't any state rebates available.

Am I getting ahead of myself? Should I just ride out my lease? I'm currently about 12k miles under where I'm supposed to be. Is it worth it trying to find a used leaf/focus? They seem to be around 12-15k while a new one is 19-25k (after rebates with 5-6 years of no interest).  I'm paying around $290 a month for my car, my insurance will unfortunately go up about $200/year with almost any car I choose.

neo von retorch

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Re: New car to replace a lease
« Reply #1 on: January 15, 2016, 08:52:02 AM »
I think you need to revisit your initial assumptions. "I'm driving a leased car that was new and is still pretty new, so I need to replace it with something new or almost new."

You live in Florida and live 2 miles from work and 8 miles from school. I wish I was in that position, as I would use my bike a lot more! You don't need a car that can handle high miles (i.e. a very new car with few miles on it.) You just  need a car. Something 4-8 years old (at least 4, lean towards 8) would likely suit you really well.

NoStacheOhio

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Re: New car to replace a lease
« Reply #2 on: January 15, 2016, 08:54:22 AM »
Do you live with your girlfriend? If so, any reason you can't be a one-car household?

RWD

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Re: New car to replace a lease
« Reply #3 on: January 15, 2016, 03:25:13 PM »
I'd vote for a used Nissan Leaf. The average price of a used Leaf (all years) in Florida is $11k (according to Autotrader). And there are at least 10 2011-2012 Nissan Leafs for sale in Florida with low miles for under $9k.

But yeah, two miles to work? That is a great biking distance. You might not need a car at all.

dycker1978

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Re: New car to replace a lease
« Reply #4 on: January 15, 2016, 03:45:56 PM »
I think you need to revisit your initial assumptions. "I'm driving a leased car that was new and is still pretty new, so I need to replace it with something new or almost new."

You live in Florida and live 2 miles from work and 8 miles from school. I wish I was in that position, as I would use my bike a lot more! You don't need a car that can handle high miles (i.e. a very new car with few miles on it.) You just  need a car. Something 4-8 years old (at least 4, lean towards 8) would likely suit you really well.

I fixed it for you :)