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Transportation Decisions

August 28th, 2006 at 06:32 pm

Today I figured out I can only drive 575 miles a month. I have leased my cars for the past half dozen years and it is a vicious cycle. You lease, you go (way) over the alloted mileage so the only way to get out of the car is to lease a new car and they roll the negative equity over into the new lease amount. Anyway, I have 39 payments remaining on this lease and if I keep the total mileage under 40k, then I can just hand it over at the end of the lease. It is an expensive lesson learned but I swear my next car is going to be paid in full with cash--no more leasing or loans. So calculating how many more payments I have and subtracting how many miles I have on the car, I can now drive a total of 575 miles a month. We always drive my car because it gets the best gas mileage so I told hubby this is going to change. We will be driving his car a lot more and leaving mine in the garage. I also researched taking the bus starting this fall to my college classes if I don't have any meetings afterwards. Since I usually work from home and only meet with clients a couple of times a week, I figured I will take the slow boat (uh...bus) to school. At least I can read on the way there. A bus pass is only $35 a month and although no one of any status in our little yuppy corner of the world would be caught dead on a bus I don't care. Im tired of being tied down by debt!!!
--venting completed--

4 Responses to “Transportation Decisions”

  1. veronak Says:

    Why are you leasing? I have heard nothing but horro stories

  2. baselle Says:

    See you on the bus!

  3. MsSuperSaver Says:

    Leasing isn't as bad as it used to be when auto leases first becaome popular. That said, other than for very specific tax reasons, leasing isn't such a great idea. Basically I leased for the same reason many others do--I got much more car than I could have afforded if I would have taken out a conventional loan for it. Grandpa's advice "If you can't pay cash for it, it ain't your's and you shouldn't get it", what I once thought was so old fashioned, is so true.

  4. LuxLiving Says:

    Go Gramps!!! The bus isn't so bad and if it helps you in the long run so much the better. I'd be sitting there with a smug smile that those leachin'leasors weren't going to get me again!! I think it is neat that you've taken the time to budget out your miles and you have a plan of action in place! Good on You! Gramps is/would be proud!!

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