« on: June 09, 2005, 11:37:53 AM »
Well here's the problem. I have a car with a little over 100,000 miles on it, and its going to need about 1,500 dollars of repairs over the next few months to keep it in good running condition. Not to mention any repairs that it may incur during the three years of law school. My current car payment is about 250. Im wondering if I should trade in my car and lease a new one. I know i can lease a decent car for about the same monthly payment as I am paying now. THere is much less risk ascosciated with leasing a new car, cause i pretty much know that any major repairs will be covered under the warranty. So over the three years, it may be cheaper for me to lease a new car, then keep dumping money into the one I have now. The one catch is my current car payments will be done after my second year, but if I lease i will still have to make payments into my third year. What do you guys think, is this a bad idea? Pros and cons?