1. Old people drive a lot less, so the 10,000-mile-per-year limits on mileage aren't an issue.
2. Old people drive a lot more carefully, so the "wear and tear" back-end costs are less.
3. You get a new car every three years or so, so you don't have to worry about maintenance.
4. You can budget your car costs based on the monthly payments.
1. You take that big trip to see the grandchildren and you rack up a lot of miles, you could go over the mileage limits and incur a lot of back-end charges.
2. Old people get into wrecks, usually just before they lose their licenses for good, and these wrecks can create back-end "wear and tear" charges.
3. Maintenance costs for a low-mileage, carefully-driven car are very low, so the worry of "repairs" is overstated.
4. Leasing is still the most expensive way to ride, and hidden costs can wreck the most carefully planned budget. Just paying sales tax on a new car every three years can be staggering.
The cost of owning the truck was higher than anticipated. If they had bought it new, they could have ignored the small dents and kept the truck longer. There would be no overmileage fees. In fact, the monthly cost (when you factor in these back-end charges) is about the same as buying the truck new. Buying a lightly used truck, or one with fewer options, would have cost them even less.
1. The cost of leasing often ends up being far more than expected - which is a bad thing when you are on a "fixed income" and have fixed remaining assets. These excess charges can put a dent in your budget - and your savings. Both can't afford too many dents.2. Leasing prevents you from being flexible in your spending. If your life situation changes (you lose your license, go into assisted living, or your spouse dies - all of which are predictable events for an oldster) you are locked into a contractual agreement that will cost you a lot of money.