Hey all, here is my dilemma .
My father was extremely nice enough to volunteer on driving my daughter to school everyday. Here school is upstate NJ and i am in lower end of northern nj. takes about 45 minutes to drive there. Busing isnt worth it as she has after school activities and will always miss the bus.
now because of this, i have offered him my car so he can drive. Its a honda pilot 2018. Unfortunately, he needs to refill the tank 2 times a week. Obviously with gas prices, it adds up alot.
His thing now is, lets buy another car or lease one that is better on fuel or get a hybrid. I have tried to reason with him that my lease payment is about to go down once i extend the lease(318 a month and the residual will go down). But if we buy or lease another car, the price per month will shoot up and probably won't save anything on gas.
i was looking into getting him a gas card just so i can manage the card payments(if anyone knows of a good one, please let me know).
But i ask you, whats a good argument to give back to him. I am not an expert on car payments but i kind of know that you wont be saving by buying a new car right now as the payments will be higher.
any good counter arguments for him would be greatly appreciated.
Buying or leasing anything just for school drop off seems like the absolute last resort. And paying more money for a hybrid or something like that to save on gas prices seems short sighted. Will going from 25mpg to 40mpg really matter and justify the cost of getting a hybrid?
Just pay for the gas, it sucks but its better than another car payment + insurance.
totally want to do this. is there a gas card i can get that you would recommend? just looking to put money in it and let it replenish ya know.
Buying or leasing anything just for school drop off seems like the absolute last resort. And paying more money for a hybrid or something like that to save on gas prices seems short sighted. Will going from 25mpg to 40mpg really matter and justify the cost of getting a hybrid?
Just pay for the gas, it sucks but its better than another car payment + insurance.
thats my thing. and i dont mind paying it but i want to find a gas card that kind of works like a debit card. if you know of any, would love the recommendation.
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With car prices the way they are, your buyout figure on the lease will no doubt be lower, than what you could turn around and sell it for....example....buyout from lease, $26,000......car worth.....$36,000.....then turn around and sell it....
now you have $10,000 to put down on another lease....
of course this all hinges on what your payoff is, and what you could get for the car...
If you do this....don't do it at the same dealer....pay it off with another loan....get the title, and walk away.....then go to whoever is willing to pay you the most for the vehicle....then pay off that loan...
With car prices the way they are, your buyout figure on the lease will no doubt be lower, than what you could turn around and sell it for....example....buyout from lease, $26,000......car worth.....$36,000.....then turn around and sell it....
now you have $10,000 to put down on another lease....
of course this all hinges on what your payoff is, and what you could get for the car...
If you do this....don't do it at the same dealer....pay it off with another loan....get the title, and walk away.....then go to whoever is willing to pay you the most for the vehicle....then pay off that loan...
Once you pay off the "bridge loan" with the proceeds, put it down on a new car....make sense?
They have a rewards/loyalty program with Shell. I don't know the exact terms of it, but I do know that my wife has been saving between 20 and 75 cents per gallon discounts on gas at Shell almost every time she fills the tank.
They have a rewards/loyalty program with Shell. I don't know the exact terms of it, but I do know that my wife has been saving between 20 and 75 cents per gallon discounts on gas at Shell almost every time she fills the tank.
Shell's Fuel Rewards is great. other partners within their program: Dunkin Donuts: Save 30¢/gal after every 5th beverage purchase, AAA Members get a discount, AARP members get a discount, American Airlines: Earn 2 AAdvantage Miles for every gallon of Shell fuel you purchase. All of these can stack too.
yeah you can sell your car and make a couple of bucks, but it won't help enough, your monthly payment is still going up.
tell him to go to a dealer and price out a car, he will learn fast when a nissan sentra is 450 per month
Just saw that he's using your car, so you don't need to reimburse him for wear in tear.
Is it literally that hard to just reimburse him for fuel costs every week month?
As for the initial question, get a gas card or capped debit card for the gas expenses.
I suspect the IRS number will be increasing significantly on the next update. LOL.
I agree, it's an extreme move just to pick-up/drop-off kids. It's much cheaper to just pay for ridiculous fuel prices. Give him cash/prepaid card.
I shopped for a Tesla not long ago, the lease payment was darn near the 72 month payment price. I've always owned and never leased; I want the equity, despite the depreciation....And if one drives a ton, with milage overages, leasing don't make sense.
Tesla Lease (10K milage, 36 month) - $1399
Tesla Own (72 month)- $1439
In this scenario, I'd rather own for 6 years, and then still have at least $40k in equity at the end of loan.
Pay for his gas.