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Why not just have him buy a reliable used car?
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As others have said, this seems a bit odd.
Mom and dad worked their asses of their entire lives. They put quite a bit of money into their retirements.
When they finally got older, they could enjoy the finer things.
After never buying a new vehicle, mom bought a truck for herself. Dad bought used vehicles.
After the first truck was totaled when a guy lost control on a corner and hit her parked vehicle, mom was older and fatalistic.
So she started leasing.
She died before her second lease was up, dad kept it until it was time to turn it in.
Dad has enjoyed the truck, likes the idea of getting a new vehicle every three years, and makes enough where the payment will not hardly register.
If he buys a nice reliable used car, with all the bells and whistles, the payment will be close to the same as a leased vehicle.
He’s 73, in fairly good health, so what’s the difference?
He wants to keep the cash he has on hand, and continue making the payments he has been making.