You've just spent somewhere around $1000 for a new transmission in your car. You won't get that back if you sell it. Your 14 year old car isn't worth a whole lot, but it's paid for, and with a new trans, it may give you several years more of good service before something else expensive breaks. The time to dump an older used car is BEFORE you spend money on major repairs!
My suggestion… Keep your car with the new transmission, no car payments and low insurance costs. Take the money you were thinking about spending for a monthly payment on a new leased car, and put it in a special savings account. Don't touch it for anything else. The next time your old car lets you down, use the money in your savings account to BUY a newer car.
You'll be dollars ahead in the long run!
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Car leases are a disaster economically for a personal lease. It may sound good to begin with low downpayment but in reality you purchase a 15% interest vehicle for 15 years.
Save the downpayment on a new vehicle and purchase one with a 1.9% loan if cash is too much for you.
Car lease deals vary and change from month to month and sometimes the difference can be drastic. The lease price relies on what car makers are offering as far as incentives. The best place to start is the car maker websites to see what their special incentives and offers are. Below is a website that ranks the top 25 to 35 car lease deals every month. Makes it much easier.. Good luck. The Elantra would be one of my top choices for a gas saving, low monthly payment lease.
You just dropped a grand into your old car, your not going to get it back.
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