Sunday, February 10, 2013

I got a new job!


2013  is proving to be a good year so far!

I got a new job! I'm super excited about it too. With the exception of a longer commute (part of the week), I think I'm going to love almost everything about this new job. It's closer to home (when I'm working in town), it pays a little more, has a couple more days of vacation, every other Friday off, more 401k match and definitely more challenges and opportunities for growth!

I start my new job in 2 weeks and I can't wait!

Although I'm very excited, I'm also nervous (I suffer from a small, self-diagnosed case of "social anxiety") and there is also a bit of stress associated with us needing another car. Right now we are in the midst of figuring out exactly how we're going to do that.

We've been a "one-car couple" for years now and we've been able to make it work. This new job requires me to drive up to LA a couple of times per week which I'll need another car to do. I debated just getting a rental car for those days but unfortunately I'll also need one when I'm at the office close to home as there are many buildings that I'll need to drive between. Also, since I will have every other Friday off, I need to work longer hours which don't quite match up with my hubby's work schedule.

I'm okay with the car idea and actually negotiated a sign on bonus which will help us a bit with the costs (yay me!), and the hubby is excited because he'll finally have a bit of independence. What freaks us out a bit are all the options. New car, used car, and leasing!?!

We know that buying a new car is kind of a silly thing to do. The costs are so high and we're still paying down the one we bought in 2010. A used car is a good idea but since we don't want to get a lemon, it seems as though we should buy a "certified used" one so that it at least has a warranty. We are both not mechanically inclined, plus we don't have a trusted auto repair person. Unfortunately, it doesn't seem as though the costs between a certified used car and a new car are that far apart. I've heard that the used car market prices are up right now for some reason. Lastly, all of my life, I've been told how bad leasing a car is. You own nothing at the end of it, so why bother?

On the other hand, I've done my research and a leased car may be our best option. The hubby isn't the type to want to keep a car for 5-10 years. He loves new, bright, shiney things. I've done the math and if I were to bank the whole sign on bonus, I may be able to lease a car for the hubby for 2-3 years and have it completely covered. Minus the cost of gas, but that's okay.

We go back and forth on the topic. We found some pretty good lease deals and think they may even get lower next weekend when they have their President's Day sales. I keep telling myself that this may be the way to go but I'm really not sure. I want to make the decision that is right for us, but since I don't have a ton of experience in this area, I'm definitely open to suggestions!

Question? : Have you leased a car before? What are your thoughts on it? Any advice? Would you do it again?

6 comments:

  1. wow! Congrats on the new job!

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  2. Congrats on the new job! Sounds great!

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    1. Thanks Mo Money! I hope it ends up being all I think it will be :)

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  3. New reader here! Congrats on the new job. As for the car.....I have done all 3 and quite frankly aside from the owning nothing at the end I liked my lease car the most (in fact the other down side to leasing was I LOVED my car and didn't want to give her back). The payments were small enought that even thru maternity leave and then a lay off I had no problem making the payment. Insurance was a bit more because (at least in the state of NY) insurance/leasing co. require higher coverage (I believe it was 100/300K). The car was under warranty the entire lease so any major problems were not my problem. One other thing to be mindful of some leases have small milage allowances and if you're driving a lot for work you might exceed it and the price per mile after is high.
    I currently drive a new car (paid for) so nothing to report there except still under warranty.
    We just got hubby a used car (after our old 13yo one with over 125k was too much to fix). It is 3 y/o so it has 2 yrs left on the warranty and was about 5k less than mine (same make/model just different styles/color).

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    1. Hi Jesort415,

      Thanks for your comment. I appreciate your thoughts on the car situation. We're still going back and forth. I hope to have a decision made soon. I'll definitely update it on here.

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