Thats 3 miles a day too total. If there was no daycare i'd only drive to the store or weekends. It is cheaper for sure.

 

$490 a month forever. Just to avoid repair expenses? Makes me so happy to enjoy my A6 with 188k, no warranty, and maybe $2k a year in maintenance and repairs. Come to think of that, rotors/brakes were $1200 of that and the timing belt was the other, so that probably would not be covered by warranty anyway. It's nice to put $22k/year in the IRA instead of car payments.

 

I keep the wife happy and always in a newer car. I have been in payments for 15 years anyway and buying I always get screwed on trade. The lease was much cheaper. She's worth it. Trust me I have driven beaters on many occasions but safety and niceness are great too have.

 

If you're like me and have an obsession with new projects (cars), I pretty much end up with a new vehicle every year to two anyways after I get bored with it. When in that boat, leasing is actually cheaper. You buy, you pay 800 a month for the year term, then own it, but I never own it in the end anyway as I trade too soon, so just repeat another 800 a month. You lease, you pay 400 a month, then get rid of it after two years, rinse, lather, repeat. In my situation, 400 a month is cheaper than 800 if I'm getting a new car every two years anyways. I just plan to spend 400 a month to ALWAYS have a brand new car and ALWAYS have a bumper to bumper warranty.

But yes, I also do my IRA contribution every month so its not necessarily just money wasted as it is money budgeted.....