Currently I'm located in Japan. I was transferred to our Japanese HQ back in May for training. As a result, I liquidated our cars, stopped all utilities, ended rental lease, etc.
I will be returning next year in June 2019. Basically, I need to re-establish my life in the US. How do I best use the sum of money I will have then ($50,000)?
I need to have two cars for the family. We only want new cars, preferably one made by my employer (Japanese automaker).
I can either buy new in cash for around $25,000-$30,000 each, or take advantage of my employer's lease program, where I pay around $300 per month and insurance, maintenance, snow tires, etc. are all taken care of. I only pay for gas. They will also give us brand new cars every year when I renew the lease.
Buying means not having that monthly fee, but I also take on all the risks of breakdowns, crashes, insurance, etc. plus that large initial payment.
I have no plans to quit, and my employer is still deeply traditional Japanese, so they don't fire people.
I frankly can't decide. What's the most financially prudent move here?
EDIT:
Insurance information: Previously, my rates were ~$700 for 2 brand new cars and 1 motorcycle. Probably $400 for one car alone.
Submitted September 23, 2018 at 04:29AM by johnnywatts https://ift.tt/2QXTXMe
