Monday, July 21, 2014

First car: buying old vs Leasing new?

so i'm getting a car soon and i'm 19 i have about $4500 saved up from work. That could buy me a (sort of) old car right there (2004ish), but my parents are willing to help me out some. I'm looking at honda civics.

but my parents are insisting on me LEASING a BRAND NEW car. I have a few concerns with that:
1. Let's be real: i'll probably get in a wreck sometime over the 3 yr. Lease, and that's gonna cost a fortune
2. I don't even want a brand new car. I don't drive that much - only to work and to college (which is like 300 miles away) but once i'm at college i only return for holidays, so driving the nicest car isn't the most important thing to me.

here's what my parents have against old cars:
1. "unsafe"
2. Gonna break down

their second point is pretty valid but either way i'm looking at something like a honda civic which is proven to be reliable. They might not help me out if i choose to buy an old car because they are so against it.

which do you think makes more sense

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