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Help! My boyfriend decided to trade in his almost paid off financed car that I drive for a brand new leased one...

...The reason I'm upset is because 1. He now has a higher monthly payment and he won't even own it and 2. I financed a manual car that he loves but I can't drive it and if I return it I'll be out several hundred and carless. I just don't know if I'm overreacting. I absolutely DO NOT think leasing a more expensive car is a good idea and I'm also upset that he did it without my permission

by Anonymousreply 31Last Thursday at 1:32 PM

I can't understand a word of this OP.

by Anonymousreply 104/06/2021

Dummy, why don't you each pay for your own preferred car? Is it upside down day?

by Anonymousreply 204/06/2021

How sad that you have to live in a place where you’re forced to own a car

by Anonymousreply 304/06/2021

Trade in your boyfriend for a new one.

by Anonymousreply 404/06/2021

I would be pissed too. Your boyfriend is clearly bad with money, rather than enjoying the fact that he won't have a car payment anymore he decides to lease (LEASE) some shiny new toy.

Paying off your car and not having that payment anymore is the golden era but people addicted to consumerism can't handle that.

by Anonymousreply 504/06/2021

OP I think you'll need several paragraphs to explain this one. Not that anyone would care to read it.

by Anonymousreply 604/06/2021

Learn to drive manual if I'm reading this right (it's hard to parse what you're actually saying). Manual takes a while to get the hang of but then it's easy, like riding a bicycle.

by Anonymousreply 704/06/2021

With grammar skills like yours, OP, I surprised you could even sign on the dotted line..

by Anonymousreply 804/06/2021

When I first met him he had bad credit and I was looking to finance a car. I was in love so used my good credit to finance the car he wanted to drive and I started driving his car. We both make payments on the cars we have in our names except I can't drive the car in my name because it's a manual. Convoluted and incredibly stupid I know but I'm wondering if this is something worth breaking up over? I know he feels sorry but I just don't think I can trust him anymore.

by Anonymousreply 904/06/2021

[Quote]When I first met him he had bad credit

No shit.

[Quote]I was in love so used my good credit

Bottoms can lose all reason over some dick.

by Anonymousreply 1004/06/2021

RED FLAGS #1) buying a car for someone you call “boyfriend” #2) buying a car you can’t drive #3) compensating for his bad credit when you first started seeing each other #4) he didn’t discuss a big financial decision w you #5) leasing. If you drive lots of mikes you’re screwed #6) boyfriend, so bad it had to be mentioned twice. If he’s not your partner or your husband, don’t get involved in his finances

by Anonymousreply 1104/06/2021

0/10

by Anonymousreply 1204/06/2021

Can you sell the manual car that's in your name? And get out of paying for the other one if you are.

by Anonymousreply 1304/06/2021

[Quote]If he’s not your partner or your husband, don’t get involved in his finances

A million times. Getting financially intertwined is not something you do on a whim. If you are at that point you should be getting married, I mean that is what marriage is, legally combining your finances.

by Anonymousreply 1404/06/2021

I don't know R13. I'm going tocall the credit union tomorrow to see what the fees are for returning a car early. He said he would try to return the new leased one but doesn't know if they will take it back.

by Anonymousreply 1504/06/2021

You should each be driving your own cars, if either of you accidentally kills someone while driving the other one could be liable for millions.

by Anonymousreply 1604/06/2021

We have full coverage on both cars. You have to if you lease or finance.

by Anonymousreply 1704/06/2021

If you can write off the car lease payment because you use it in your business, then leasing is the best way to deal with an investment of decreasing value. Cars are most always an emotional purchase. It's much better to buy a year old model and save a good 10k in depreciation. Leasing anything you can't write off on your taxes is just plain stupid.

by Anonymousreply 1804/06/2021

After 60,000 miles ALL cars start to need parts and service beyond just an oil change. I traded up specifically for a 6 year bumper to bumper warranty from an old car I was still paying down- because the older car was acting weird, transmission making a thump noise first thing in the morning. The monthly payment and smooths out any unforeseeable expenditures. This has already saved me thousands in parts that were cheaply made. More importantly older cars don’t break down on any sort of schedule and I didn’t suddenly want to get caught paying thousands to fix an aging auto like my friends, I’d rather put the money towards a new car. Everyone’s tipping point is different though.

Also, if your car is older than five years there’s a LOT more emerging technology that helps curb accidents and impacts fuel efficiency. My car insurance was actually cheaper because the new one had blind spot and bumper detection. You won’t save thousands in gas but you will make a difference in emissions and global warming as compared to a ten year old car.

Finally, leases make sense if you can write it off as a business expense OR the car payment is too high and you’re obsessed with the model and prepared to buy it after the lease. My husband leased his Caddy because he’s wanted one since a child and worked hard for it. He also went into it fully informed and with a budget in mind.

by Anonymousreply 1904/07/2021

We are going in today to see if we can get an older car. He absolutely cannot write it off as a business expense since he works from home. I do know he was worried about the one he traded in simply because it was a 2010 and had about 68000 miles on it and wasn't a high quality car to begin with...but we're still not speaking to each other

by Anonymousreply 2004/07/2021

First of many hard lessons that a relationship is more about practical financial issues than sex and sexual attraction. Long term relationships are wholly dependent on aligning financial goals - OR agreeing to keep them wholly separate which I believe is the better idea. The myth of marriage and merging legal and financial obligations is one that should have been discarded 50 years ago.

by Anonymousreply 2104/07/2021

[quote] We have full coverage on both cars.

Car insurance policies have limits on the amount they will pay out for liability, the owner of the car is responsible for any amount above the liability limits of your policy. If you get sued for a $1 million and your policy limit is $250,000 the owner is responsible for the other $750,000.

by Anonymousreply 2204/07/2021

I have a husband and we manage our own transportation.

by Anonymousreply 2304/07/2021

Only buy a new car if you can easily afford to and have excellent credit, otherwise they will absolutely SOAK you in financing fees. These cheap leases do the.same thing, they’re attracting stimulus money and people that want a quick fix. There’s a reason- Corona left piles of inventory from last year from the shutdown, more people are working from home and companies need to see a big push before making any new gas powered vehicles-

Over the next five years theres a great transition where every manufacturer is moving from combustion engine to electric automobiles. Also expect to see several companies appear that can convert old gas into electric for specialty and collector cars, private racetracks and storage facilities for gas powered cars, and more government sponsored rebates to convert to electric. I would wait because the charging system network is still spotty and charging at home is still impractical- it’s similar to when broad cellphone use emerged in the early 90’s- only the wealthy are embracing it whole-heartedly.

by Anonymousreply 2404/07/2021

I get that there is a huge push for electric cars - but as R24 pointed out, I don’t know how that happens when there is little or no electric car infrastructure in 95% of America. Except in rich areas with lots of Teslas (like SF and LA), I don’t see a functional electric car infrastructure in the next 5 years.

by Anonymousreply 25Last Thursday at 10:09 AM

Punch.

Delete.

Like we're going to do with you, OP.

by Anonymousreply 26Last Thursday at 10:13 AM

Yeah car leasing is generally something stupid people do when they don’t understand finance. Since it takes a nominally intelligent person one afternoon to learn how to drive a stick shift, and you currently own such a car, to not do so would lead me to question your intelligence, as well.

by Anonymousreply 27Last Thursday at 10:26 AM

R25, I live in a small town of less than 500 people. We have three public charging stations and it’s only going to grow.

by Anonymousreply 28Last Thursday at 10:33 AM

Well, at least you've discovered that he cares more about what car he drives than you.

by Anonymousreply 29Last Thursday at 10:41 AM

Battery and technology is improving and becoming much cheaper and most people day by day- drive far less than 200 mile limit a stretch. You can quick charge and top off a battery while sitting for lunch and do a full power up once a week.

I think there’s enough push you’ll see a LOT more charge stations appear soon, especially if they can figure out how to advertise or develop underwriting other business models from them- like Uber paying for installations to offer free charging to their drivers.

by Anonymousreply 30Last Thursday at 12:01 PM

R2

[quote]Dummy, why don't you each pay for your own preferred car? Is it upside down day?

Yeah I wondered why the hell OP doesnt just do this. Thats what my partner and I do

And R5 is right too - the best car is one thats paid off, or paid for in cash.

Partner has a 15 year old Toyota paid for cash, I have a 20 year old V8 Holden and a 42 year old Cadillac, both paid for cash. I havent had a car payment in decades. I do most of the maintenance myself on all of them. I want to get myself a big block Camaro or an El Camino, but wont until I can pay for it cash (and have somewhere off street to park it)

by Anonymousreply 31Last Thursday at 1:32 PM
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