To Lease, Buy, or Have No Car at All? How 2022’s Used Car Market Shifts Things

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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