@rgvbaptist It does not make financial sense, for me.
It depends on individual needs, from person to person.
In my above comment. I mentioned one has to decide whether one needs a car (kinto might make sense), and whether one wants a car (kinto might still make sense, but then it is want, and it depends on one's financial position).
If one needs a car, for example, you have to get to work, and Uber and taxis are unreliable, and it affects your work performance, you need a car. If you have children and they're not getting to school, or bus fees are more than what you would pay for kinto, or car payment. You need a car.
If you want to impress your friends, or date, the car is a want. If you can afford it, it might make financial sense.
Now, there is a saying, the best car is a paid of car. I subscribe to this sentiment. I would rather buy car outright, than take a car on debt or lease a car (what kinto is). It's just me though, and I have an aversion to debt. (Because I've bunt my fingers and almost had to go into debt review)
The other cost one has to take into mind is insurance.
With kinto there is also a lot of parameters, and their contract gave me the irk.
They can change fees whenever they want. You are responsible for the full amount incase of accident or theft. If you miss a payment, they can expect the whole terms monthly payment immediately.
If you want to cancel early (within 12 months of year to year contract) you have an early cancelation fee. If you go over certain kilometres per month, you get charged an additional 10%.
There are so many hoops, and in the end you don't own the car.
But they also had clause whereby they can claim all monthly payments immediately with their sole discretion.
They also had a clause, where they can take the car away from you if they deem it necessary, and you then have to continue the monthly payments until the contract ends
I just didn't like all th hoops, and clauses.
It might work for someone (who needs it, or who wants to impress someone).
But for me to though, it does not make financial sense. (Please note, in my original post, and this one, for me. Your mileage may vary)
Just keep in mind, is it a want, or a need. And keep in mind you will definitely have to have insurance, which is another cost to take into account.
If it was me, I would save for a car, a cheapish one, and buy it cash. No sword over my head then.
