On October 8th, 2013, I published my first list of clues that you might be a financial zombie. I will be addressing each of those clues (11) individually plus any others posted during the month, with the goal of counteracting the financial infection.
One of the primary characteristics of the undead, financially or otherwise, is that they don’t think. Instead, they act on impulse. They seek what they crave. Such is the case with those who lease a car for personal transportation. If they could possibly take a few minutes to think about the arrangement, they would quickly realize that they are essentially renting a new vehicle every three years or so, never owning or being able to recoup any of the vehicle’s value as an asset.
Rather, they simply crave. In this case, they crave a larger, newer, nicer, more luxurious, etc. vehicle than what they could otherwise afford each month given their income and/or savings. even the argument of driving a more dependable car has no leg to stand on (like a battered old zombie), since most cars today are warrantied for at least, if not more, miles than are permitted on leased vehicles.
Come on, people, um, I mean all you “unbeings,” let’s stop fooling ourselves. Leasing a vehicle for personal use is a horrible financial option in almost every case.
Here’s a poll to take regarding vehicle leases:
Have a great day!