Lease a new car or keep my paid-off car?

I know Liberty’s are not know to last long without causing some headache. I say, sell it and buy a 3 year old sedan or compact. Just go test drive a few and make sure the sitting position and everything else about them suit you before ditching the Jeep.

Agree on not leasing, but your options are not as limited as you list them.

What you really should consider is a three year old vehicle that someone else leased and is now for sale again. It seems like the total cost of a 3 year old vehicle is way, way less than new, and a three year lease usually only permits 30000 to 36000 miles total. That’s very little. @Galant is correct.

Now nothing wrong at all with paying cash but, with zero or 1% interest rates, why would you not keep the money invested (not in the bank), and take the cheap finance?

I just bought a new vehicle. I had more then enough cash to pay for it. But I’d have to pull it out of one of my Fidelity funds that’s averaging better then the 1.9% I got on the loan.

“Now nothing wrong at all with paying cash but, with zero or 1% interest rates, why would you not keep the money invested (not in the bank), and take the cheap finance?”

Just be sure to negotiate the price first. I had assumed that zero percent financing was off the sticker price. However, back in 2003 when we bought a new Toyota 4Runner, I negotiated a price. The sales person offered zero percent financing on the price we negotiated, so I took advantage of the deal. Unfortunately, there was no such deal when I bought my 2011 Sienna. The dealer and I were $100 apart and he didn’t want to come down. I asked him if he would give me a break on new floor mats for the 4Runner. He said that if I took the deal, it would give me the floor mats for the 4Runner. My wife got her new floor mats and I got the Sienna.

I think I will keep my Jeep until it becomes a burden.

Although it’s an '07, I only have about 59k miles on it; I’ve always managed to find an apt less than 10 miles to work when I was in LA.

Now that I work from home, I only drive my car to the gym every morning, so I put about maybe 5 miles a week on my car.

You might want to take it out at least once a month to get it thoroughly warmed up. That boils off fuel and water that collects in the oil. A half hour drive on the freeway would do. That also will keep your battery charged, short drives often don’t.

Now that I work from home, I only drive my car to the gym every morning, so I put about maybe 5 miles a week on my car.

Sell the Jeep, buy a bike, cancel gym membership but ride the bike to and from the gym a couple times every day. Put the money for the cost of a new vehicle and the gym membership in the bank and in three years, buy the d@mn gym and use it for a second income.

My gym is WalMart. No gym fees, the nearest mall is 30 miles away so mall walking is out. Walmart is only six miles away and three laps around the interior perimeter is one mile. I only use it in bad weather, otherwise the road in front of my house is my gym.

Why do people drive around the gym parking lot several times looking for the closest parking space only to go in and walk on a treadmill?

Do you walk to the grocery and other stores? That counts as time running the car, too. Take to out on the freeway in the afternoon. It will take a half hour just to get to the next exit. :wink:

Keep the Liberty. You’ve just been through as bad a winter as you’ll likely ever see in Rhode Island. Winter tires are a standard recommendation for cold climates with extended stretches under 40 degrees, but typical Rhode Island winters don’t have much of that. I’d go to Tire Rack and see what they’re suggesting. You’ll get people on here saying only true winter tires are worth getting, that so called mud+snow tires are useless. No, they’re designed for places that get quite a bit of snow and muddy, slushy conditions, but don’t have a whole winter of truly cold weather. Most years that accurately describes the southern New England coast, coastal NY and NJ, and on down through Delaware. I have relatives all over New England so have heard what an awful year this last one was, but it was not typical. Inland NE is cold, mostly, but I’ve been in RI and heard people complaining about the cold when the high was well into the thirties.

Anyhow, whatever kind of tires you get, buy four. If you don’t expect to be doing much driving in sub-40 temperatures, recognize that winter tires will wear out a lot faster at warmer temperatures. Use historic temperatures available online, not this winter’s freakish extremes. Rhode Island usually gets modest storms that have melted away in a few days.

Road ice from thawing and refreezing can be the biggest risk. Pay special attention to warning signs about ice, common on bridges. If you haven’t done much winter driving in the past, a class on safe winter driving is possibly your best investment. The first time all four wheels are on ice you’ll know what to do. If you’re lucky, the drivers around you will, too.

Have fun in Rhode Island. It’s a lovely little state and close to Boston and Cape Cod, too.

I’ll put it this way: I have an '02 Chevy Silverado with only 54,500 miles on it. It has the 4.8-ltr V-8, auto trans, 2wd, and electronic locker rear diff, and still runs good (Knock on wood). I paid it off 8-1/2 years ago, and I have no intention of getting rid of it. Although it’s a bit rough on the outside, I keep up with the mechanical maintenance and get an annual 29-point AAA inspection. As long as it runs, and needs no major repairs, I’ll keep it. In other words, if your Jeep Liberty is in as good mechanical shape as my truck, I’d say hang on to it.

Good advice @Drifter62‌.

My '07 Liberty only has 59k miles on it, always managed to live less than 5-10 miles from work.

I also work from home now, so only drive my car about once a week to run errands.

I guess I just want a new car because I feel weird having a rwd Jeep.

Most of the posters are absolutely correct, I should keep my Jeep and avoid monthly payments, especially lease payments.

My '07 Liberty only has 59k miles on it, always managed to live less than 5-10 miles from work.

I also work from home now, so only drive my car about once a week to run errands.

I guess I just want a new car because I feel weird having a rwd Jeep.

Most of the posters are absolutely correct, I should keep my Jeep and avoid monthly payments, especially lease payments.