I’m getting a $450 car allowance with my new job and want to lease a luxury car. My wife says buy a used car — who’s right?

I’m getting a $450 car allowance with my new job and want to lease a luxury car. My wife says buy a used car — who’s right?

Dear Ms. MoneyPeace:

I just got a new job and they are giving me a car allowance, so I am in the market for a new car. I used to commute by public transportation, so  an 11-year-old car is what I used for weekends.

Since I have a monthly car allowance of $450 I want to step up my game and maybe even get a luxury car.  My wife is hesitant to spend $500 a month on a lease.  I do not see why that makes much of a difference as we have added income.  Plus most leases include oil changes, so we will be saving on maintenance.  Besides, she has a car, so this is what I will need to drive day in and day out for work. 

She also is “old school” and thinks we would be better off buying –  especially buying a car that is a few years old. The car I want to lease would be an almost $600-a-month car payment.  I do not know how we could afford to buy that new! I have been driving a used practical car, so this is my time.

 We are in our late 40s and have no kids and some savings