Given the following, what would you do?

[mirrodie]

So my lease is almost up. I have an 06 Nissan Altima, 35000 mi on it. My logic in leasing the 2006 Altima was so that I could buy more time and see what more fuel efficient cars would be around 3 years later. ....Unfortunately I am not thrilled with the options that are now available.

Wifey has a 2000 Altima with 81500 mi on it, all paid off.

We need a bigger car for her and kids stuff, so the options are to:
a) give up the lease and pick up the SUV for her and I drive her 2000 Altima or
b) trade in her altima, pick up a SUV and keep the lease for me.

Its a bitchin decision for me b/c while the newer Altima is nicer and bigger, the old one runs fine so why bother keeping the lease/newer Altima? Between the 00 and 06 nissan, the mpg ratings are about the same, so if I kept the lease, all I am really getting is a payment with a sunroof, leather, Bose sound, etc, etc. I've just gotten used to those small updates.

My inclination is to just give up the lease and drive the 00 Altima for a few years (til the wheels fall off) since its really only used for commuting to and from the office and my commute is 12 minutes, +/-4 minutes. And its paid off, os why bother with another payment? Unless the dealer gave me some sick financing.

Then there is the 'keeping up with the jones' nonsense, which doesn't bother me but I know its a lingering pressure. All my doctor friends are blowing bucks on luxury vehicles but I am just keeping it real.

I'm curious what others advice here is to do.


PS, I will NEVER buy a new car again. The aggravation and sheer gut wrenching disgust that you feel when you get the tiniest DING on it is just not worth it.

[moose135]

Now is probably an excellent time to get yourself a new Chrysler/Dodge or Chevy minivan (yes, I said the "M" word) - you should be able to find some killer deals - get rid of your lease, and use her old car for commuting to the office.

[lijk604]

I second what Moose said. No sense paying for something, when you already have something just as good that is PAID OFF!

[Fighting_falcon_51]

I would go with option B because the Altima is getting old and the chances of expensive repairs/problems happening is great. So your Wife gets a new SUV(which is good to have around) and you get a 2009 Altima. But then again if its only a 12min drive and the 00 Altima is in good shape then you have one less payment. Or go with what moose said and get a American car which for the prices of them are basically a steal.

[MarkLawrence]

MPG is much the same between an SUV and a Van - I agree with Moose - there are bound to be awesome deals out there for those at the moment. The 00 is running fine - keep it and use it yourself. Over the next few years, put the money you are saving aside, and in a few years, you might be able to pay cash for a decent car!

[mirrodie]

Mark, that is what I am considering, actually:

I am heavily leaning toward driving her 00 into the ground so that later I can buy a bit more time and get myself something a bit later on.


So Chysler/Dodge/Chevy deals? Not GMC? I am very far removed from American cars, fill me in.

[mirrodie]

I would go with option B because the Altima is getting old and the chances of expensive repairs/problems happening is great.

True, that when that happens, that is when I'd get a new car. ;)

[PhilDernerJr]

I think it's a wise financial decision to keep the '00 and lease something new.

When choosing that new car to lease, think about your basic needs in terms of space and capacity. MANY cars should fit the bill, but then, look at safety. You've got two kids and a pretty wife that you don't want getting hurt. So, pick the safest one out there.

Also get something that's not too powerful....because we all know how you drive and we don't want you to even have the capability of being dangeorus.

Keep us posted.

[moose135]

Chrysler has the Town & Country, Dodge the Grand Caravan. They are the same, just a little different sheet metal and options. Chrysler/Dodge have been the leaders in the minivan world since they introduced the first ones in 1984.

GMC is their truck division, pickups, large vans, and larger trucks. Actually, looking at their web site, Chevy no longer produces a minivan, although you may find some 2008s around (they produced corporate cousins for Chevy, Buick and Pontiac through 2008).

[mirrodie]

Phil, lease something new or buy something new?
And why are you crying about my driving? I admit I speed but that's when the coast is clear. Love to accelerate ;)

Moose is really dying for us to get a minivan, isn't he! LOL I think its a generational thing but she doesnt really want one either. But if GMC is running deals that is worth looking into.

[PhilDernerJr]

"Coast is clear" isn't good enough. You don't want your kids growing up without a father. :evil:

The decision between lease and buying will be mileage. If you're planning on road trips or using this new car constantly, then don't lease. I think you'll be fine, and you should probably lease.

To determine between SUV and minivan, refer to my earlier post.....safety. Both types will probably take care of you in terms of capacity and ease, and price will probably be similar as well. Pick the one that's safer for your family.

I'm not Mr. Banker or Mr. Car, but I've been doing a lot of research on buying and leasing lately. One leasing tip I learned is don't put money down! So many people apparently put money down when leasing for no real reason. It's a lease...you don't own the car, so why are you paying for it? You should be able to walk in with $500 cash, get your monthly and interest, pay your DMV costs and walk [drive] out with your car.

[mirrodie]

"Coast is clear" isn't good enough. You don't want your kids growing up without a father.

But Phil, I only do it on straightaways and runways. Awwww, come on.

Actually, I've been much better. Also, I don't know where he got it from but lil man sometimes randomly states, while I drive, "Daddy, be careful!" Dude, I'm at at a red light!!

To determine between SUV and minivan, refer to my earlier post.

Perused the Consumers Reports during Mem Day weekend. We were set on a few models but have to go back and look at GMC.

One leasing tip I learned is don't put money down!

Yep. My accountant told me the same. Glad you too are looking at a lease. I know you must be finding some good deals yourself.

[Matt Molnar]

Perused the Consumers Reports during Mem Day weekend. We were set on a few models but have to go back and look at GMC.

Word on the street is Government Motors will soon be slashing prices even more to clear out their massive inventory excesses. Might want to wait at least a few weeks before settling on anything.

[mirrodie]

THanks Gman.

We weren't seriously considering American but the Chysler Pacifica and GMC Acadia may be worth looking at.

[moose135]

I know a few folks who have had a Pacifica, and were generally pleased with them. It's not the dreaded minivan that Mario is trying to avoid :D and as a cross-over it should behave more like a car than many bigger, heavier SUVs out there. Not really familiar with the Acadia.