Is it possible to negotiate on a vehicle purchase?

[disneysteve]

haha. You sound like someone who isn't fond of change. I've never been attached to a car like I was to my first real car. I had some clunkers before it, but the first car I ever owned that was mine(I paid payments on) was a 98 Toyota Camry.

Surprisingly, I'm actually pretty okay with change, but it needs to be for a purpose. I don't see the point in change for the sake of change, like the folks who just "have to" have a new car every 2 years. I'm perfectly happy keeping a car long term.

My last car was also a 98 Camry. I replaced it in August 2012 with a 06 Camry.

[TexasHusker]

In that case a lease pretty much keeps you in a new car without really affecting the monthly budget too much, I guess?

I couldn't stomach it since I like the idea of no payments. Having a newer car 24/7, however, is very appealing. Either way, I can't do this even if I wanted to since I drive a ton for ministry. I'd have a killer fee's at the end. I bought an 07 Toyota Sienna with just under 80k miles in August 2013. It now has nearly 160k miles. I registered 21,000 miles on my taxes last year between my car and my van. That is just ministry miles where I was going to visit or do church business. I live an hour and a half from the church I pastor is why.

My lease payment is $1000 a month. It's auto-drafted so I don't pay attention to it. I would never recommend such a vice to the vast majority of people. It is irresponsible and a big waste of money.

However...I do earn around $300K per year +/-, so I can easily afford it. We all have our financial indiscretions .... my used-to-be neighbor made over $1 million a year and had $250,000 worth of depreciating Range Rovers, plus a $50,000 a year private jet membership, paid someone to come pick up the dog poo twice a week, fed his dogs STEAK once a week, etc etc etc.

I'm not justifying a $1000 a month lease, but once you reach a certain income level, you realize that you can easily afford a few luxuries you once thought outrageous.

Does that make sense?

[disneysteve]

I'm not justifying a $1000 a month lease, but once you reach a certain income level, you realize that you can easily afford a few luxuries you once thought outrageous.

Does that make sense?

That totally makes sense.

As long as all of your financial obligations are taken care of and you are saving adequately for the future, how you spend what's left really doesn't matter a bit.

$12,000/year for a lease is 4% of your income. I'd bet that the average American spends 3 times that percentage on car payments.

[TexasHusker]

That totally makes sense.

As long as all of your financial obligations are taken care of and you are saving adequately for the future, how you spend what's left really doesn't matter a bit.

$12,000/year for a lease is 4% of your income. I'd bet that the average American spends 3 times that percentage on car payments.

The truth is, car payments keep people in the poor house. It's simply awful.

[disneysteve]

The truth is, car payments keep people in the poor house. It's simply awful.

Yep. Cars and houses are what doom most folks.

In comparison, our mortgage (PITI) is about 12% of income and we own both cars outright (paid one off last month). Hopefully, we won't have a car payment for another 5-7 years.

That makes a big difference in our ability to save for the future and enjoy some niceties now.

[TexasHusker]

Yep. Cars and houses are what doom most folks.

In comparison, our mortgage (PITI) is about 12% of income and we own both cars outright (paid one off last month). Hopefully, we won't have a car payment for another 5-7 years.

That makes a big difference in our ability to save for the future and enjoy some niceties now.

The house doesn't give me near as much heartburn - it doesn't depreciate 50 percent in 3 years.