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Posted: 1/18/2002 2:11:49 PM EDT
Just your thoughts I can write the leas[BD]e off.
Link Posted: 1/18/2002 2:47:26 PM EDT
One thing to look out for on a lease is a mileage clause. If your lease has one and I believe most if not all do, make sure it's a number you can live with. Larry
Link Posted: 1/18/2002 2:48:34 PM EDT
[Last Edit: 1/18/2002 2:50:27 PM EDT by Benjamin0001]
A LEASE IS NEVER WORTH IT UNDER ANY CIRCUMSTANCES. For instance $400.00 / Month lease totally tax deductible only saves you at most $132.00 per month or $1584.00 per year IN REAL DOLLARS ($400.00x33%(tax)x12(months)=$1584.00 However buying a used vehicle will save you $4000.00 right off the top. Everybit of Which is REAL DOLLARS. PURCHASE USED TRUCK TWO TO THREE YEARS OLD. AROUND 16,000-33,000 Miles and cut the price off a new vehicle by at least %25 possibly and probably more. There is NEVER ANY GOOD REASON TO EITHER LEASE OR BUY NEW; ANY VEHICLE. UNLESS YOU CAN JUST AFFORD TO PAY CASH FOR IT AND IT COMES TO A MERE 10% OF YOUR INCOME. THIS IS MY PERSONAL ECONOMICS. TRUCK : BUY USED HOWEVER, IF THE TRUCK COMES TO $40,000 AND I MAKE $400,000 / year then I would buy it straight up and new to. BUT I DON'T MAKE THAT KIND OF MONEY AND NEVER HAVE SO I WILL HAVN'T EVER BOUGHT A NEW VEHICLE. NEVER THROW MONEY AWAY. WATCH YOUR PENNIES AND LET THE DOLLARS TAKE CARE OF THEMSELVES. AND ALL THE OTHER EUPHEMISMS WILL ALSO HELP. NEVER PAY FOR SOMETHING THAT IS NOT GOING TO MAKE YOU MONEY. AND A NEW TRUCK WON'T MAKE YOU ANY MORE MONEY THEN AN USED ONE WILL. CONSERVATIVE , AND THE GRATIFICATION MUST COME FROM PENNIES SAVED NOT BEAUTY BOUGHT. Benjamin EDITED TO ADD: NEVER PAY FOR ANYONE ELSE TO SEND THEIR CHILDREN TO COLLEGE WHEN YOU HAVE YOUR OWN TO SEND.
Link Posted: 1/18/2002 2:49:59 PM EDT
BUY!
Link Posted: 1/18/2002 3:00:26 PM EDT
If you're planning on keeping it for a while and can afford it, buy it. The ONLY reason that I lease my car is because I am a poor starving grad student living on loans and minimal income, so the lower payment helps me a lot.
Link Posted: 1/18/2002 3:10:52 PM EDT
Originally Posted By Benjamin0001: A LEASE IS NEVER WORTH IT UNDER ANY CIRCUMSTANCES. For instance
View Quote
That is not completely true. For some people, like those who own businesses, it's financially advantageous to lease a vehicle over purchasing, because depreciation on purchased vehicles has been increased from 3 to 5 years. However, for the non-business owner you are correct, it is never better to lease than to purchase unless leasing is the only way you can get into a vehicle that you must have. God Bless Texas
Link Posted: 1/18/2002 3:12:56 PM EDT
Not this topic again. I prefer leasing. Especially for a business, since you can write it all off and not bother with all that depreciation nonsense. When was the last time you saw an Brinks truck in a funeral procession. You can't take it with you! Enjoy it while you can!
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