32 sats \ 0 replies \ @cointastical 12 Oct \ on: someone explain how leasing a car is ever a good idea? econ
Leased a vehicle twice in my life, ... both ended badly.
The first vehicle because of the mileage overage. When i got the lease I was driving way under the 12,000 miles / year allocated mileage. But in the last year of the lease I had a long commute and went way over. Cash-flow wise, it was a better option to accrue the per-mile overage expense, versus getting a second car for commuting, especially because I didn't have to pay for excess miles until the lease ended (i.e., a deferrable expense). It still stung though.
The second vehicle was where I got rear-ended, and for the repair I had to first drive a good distance to bring it to their estimator, and then for the repairs I had to drive a distance to bit it to a shop that was approved. It was just under two months between the accident date and when I finally had my (repaired) leased vehicle back --though I knew that them getting the parts would take a while, especially since they had ordered them just before the Christmas holidays.