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

Published: Aug. 3, 2022, 6 a.m.

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\u2026not a great time to buy a vehicle, as anyone who\u2019s perused the used car market knows.\xa0\nIt inspired this episode in which we break down the lease vs. buy decision in today\u2019s car market with guest Jorge Diaz, author of Car Leasing Done Right (https://www.leasecosts.ca/en/book).\xa0\nAs part of the episode, I wanted to do an IRL lease vs. buy comparison with a luxury car\u2014so I reached out to a Porsche dealership to pull numbers on a 2023 Macan. What I wasn\u2019t 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\u2019s\u2026a fun bonus in the episode. \U0001f602\n\nMentioned in the Episode\n- 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/\n- Rule of thumb for paying for a car: https://www.nerdwallet.com/article/loans/auto-loans/much-spend-car\n- \u201cWhy Leasing a Car is Like Setting Money on Fire\u201d: https://moneywithkatie.com/blog/why-leasing-a-car-is-like-setting-money-on-fire\n- Study: Driving fewer than 10K/year: https://www.rockethq.com/learn/personal-finances/how-expensive-is-uber\n- Pregnancy Discrimination Act: https://www.eeoc.gov/pregnancy-discrimination\xa0\n\n\u2014\n\nFollow Along\n- Listen to Money with Katie here: https://www.podpage.com/money-with-katie-show/\n- Read Money with Katie: https://moneywithkatie.com/\n\nFollow Money with Katie!\n- Instagram: https://www.instagram.com/moneywithkatie/\n- Twitter: https://twitter.com/moneywithkatie\n- TikTok: https://www.tiktok.com/@moneywithkatie\n\xa0\nSubscribe to Morning Brew\n- Sign up for free today: https://bit.ly/morningbrewyt\n\nFollow The Brew!\n- Instagram: https://www.instagram.com/morningbrew/\n- Twitter: https://twitter.com/MorningBrew\n- TikTok: https://www.tiktok.com/@morningbrew\nLearn more about your ad choices. Visit megaphone.fm/adchoices