If you had to decide between spending $10,000 on a Toyota or Honda, or opting for a new car with a monthly lease payment of $400, what would you choose, considering you earn $60,000 a year in your late 20s?
Me Woke
Me Be Woke Innit
There are no menu items in this menu.
Choosing between a $10k Toyota or Honda and a $400 monthly lease payment for a new car would depend on a few personal factors.
If I opted for the $10k car, I would own it outright, which means no monthly payments and less worry about depreciation. This could be an excellent financial decision, especially considering my income of $60k/year. I could save that $400 monthly payment for other expenses, investments, or even towards my next vehicle.
On the other hand, spending $400 a month on a lease for a new car comes with perks like warranty coverage, lower maintenance costs, and the chance to drive a newer, potentially more reliable vehicle. Plus, if I prefer the latest tech and features in cars, leasing might be worth the extra cost.
Ultimately, if I value long-term savings and financial stability over the latest car features, I’d probably lean towards the $10k Toyota or Honda. But if I prioritize having a new car experience and don’t mind the monthly payments, I might go for the lease. The choice really comes down to personal preferences and financial priorities!