26 min listen
To Lease, Buy, or Have No Car at All? How 2022’s Used Car Market Shifts Things
To Lease, Buy, or Have No Car at All? How 2022’s Used Car Market Shifts Things
ratings:
Length:
53 minutes
Released:
Aug 3, 2022
Format:
Podcast episode
Description
I sold my car in March 2021 and have (mostly) never looked back as part of a one-car couple, but my husband and I have been dabbling with the idea of getting a new car this year. Unfortunately, 2022 is…not a great time to buy a vehicle, as anyone who’s perused the used car market knows.
It inspired this episode in which we break down the lease vs. buy decision in today’s car market with guest Jorge Diaz, author of Car Leasing Done Right (https://www.leasecosts.ca/en/book).
As part of the episode, I wanted to do an IRL lease vs. buy comparison with a luxury car—so I reached out to a Porsche dealership to pull numbers on a 2023 Macan. What I wasn’t expecting as part of my number-crunching journey: being immediately plunged into an inferior sense of class consciousness as a result of the interaction. That’s…a fun bonus in the episode. ?
Mentioned in the Episode
- Car market prices up 24% in 2021 (via The Washington Post): https://www.washingtonpost.com/us-policy/2021/10/28/used-car-prices-chip-shortage/
- Rule of thumb for paying for a car: https://www.nerdwallet.com/article/loans/auto-loans/much-spend-car
- “Why Leasing a Car is Like Setting Money on Fire”: https://moneywithkatie.com/blog/why-leasing-a-car-is-like-setting-money-on-fire
- Study: Driving fewer than 10K/year: https://www.rockethq.com/learn/personal-finances/how-expensive-is-uber
- Pregnancy Discrimination Act: https://www.eeoc.gov/pregnancy-discrimination
—
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It inspired this episode in which we break down the lease vs. buy decision in today’s car market with guest Jorge Diaz, author of Car Leasing Done Right (https://www.leasecosts.ca/en/book).
As part of the episode, I wanted to do an IRL lease vs. buy comparison with a luxury car—so I reached out to a Porsche dealership to pull numbers on a 2023 Macan. What I wasn’t expecting as part of my number-crunching journey: being immediately plunged into an inferior sense of class consciousness as a result of the interaction. That’s…a fun bonus in the episode. ?
Mentioned in the Episode
- Car market prices up 24% in 2021 (via The Washington Post): https://www.washingtonpost.com/us-policy/2021/10/28/used-car-prices-chip-shortage/
- Rule of thumb for paying for a car: https://www.nerdwallet.com/article/loans/auto-loans/much-spend-car
- “Why Leasing a Car is Like Setting Money on Fire”: https://moneywithkatie.com/blog/why-leasing-a-car-is-like-setting-money-on-fire
- Study: Driving fewer than 10K/year: https://www.rockethq.com/learn/personal-finances/how-expensive-is-uber
- Pregnancy Discrimination Act: https://www.eeoc.gov/pregnancy-discrimination
—
Follow Along
- Listen to Money with Katie here: https://www.podpage.com/money-with-katie-show/
- Read Money with Katie: https://moneywithkatie.com/
Follow Money with Katie!
- Instagram: https://www.instagram.com/moneywithkatie/
- Twitter: https://twitter.com/moneywithkatie
- TikTok: https://www.tiktok.com/@moneywithkatie
Subscribe to Morning Brew
- Sign up for free today: https://bit.ly/morningbrewyt
Follow The Brew!
- Instagram: https://www.instagram.com/morningbrew/
- Twitter: https://twitter.com/MorningBrew
- TikTok: https://www.tiktok.com/@morningbrew
Released:
Aug 3, 2022
Format:
Podcast episode
Titles in the series (100)
#1: HOME OWNERSHIP RANT | My Real Beef with the Debate: The home ownership debate (to rent or to buy?) is heated and – I would argue – frustrating. Today, I'm diving into my REAL beef with the, "Renting is throwing your money away," condescension – in the hopes that young people will learn how to run the numbers instead of relying on conventional wisdom.ARTICLES REFERENCEDWhen the Math Supports Buying Your Primary ResidenceOur Net Worth is More than $500,000 – Here's Why We Choose to RentWhy Your House is a Terrible Investment (JL Collins) by The Money with Katie Show