Leasing a Bimmer...1st timer help

[stillin729]

I'm super conservative. So, I think a car shouldn't exceed more than 15% of your annual income.

Def not a bad way to do it

 

[Mark Antony]

IMO a vehicle should not exceed 20-25% of someones annual income, but I'm sure many will argue this. ... Especially on NT.

I'm super conservative. So, I think a car shouldn't exceed more than 15% of your annual income.

View media item 591891

15% of your income is like 50K.

 

[bravelude]

Car is not an asset homie.

Son!

Yes it is. A depreciable asset. Meaning, it does not rise in value, but yes, it is an asset. Even in accounting, it goes on the books as an asset. But you wildin out, calling it a non asset.

Btw, why would a bank give you a loan on a non asset. Son! Too much logice, I am outs for real. But had to clear the air. haha

keep leasholding. luls

 

[eiddyfouw]

Car is not an asset homie.

Son!

Yes it is. A depreciable asset. Meaning, it does not rise in value, but yes, it is an asset. Even in accounting, it goes on the books as an asset. But you wildin out, calling it a non asset.

Btw, why would a bank give you a loan on a non asset. Son! Too much logice, I am outs for real. But had to clear the air. haha

keep leasholding. luls

It's not an asset in your personal capacity.

A vehicle is an asset in a business, in which it is used to generate income (fleet management, rental cars, trucking etc).

A vehicle in your personal capacity helps you get around easier and depreciates in value, it does not make you money.

 

[Hank Scorpio]

yes, basically your lowering the amount your paying for the car, thus lowering the lease payment by putting a down payment.

what I do is calculate totatl cost.. what is the cost if I do not put a downpayment..

what is the total cost if i do put a down payment.. if they are the same or negligable then dont put a down payment..

You ALWAYS try to get away without putting the down payment. If they raise the monthly rate, then tell them to **** themselves and leave.

 

[Hank Scorpio]

stillin729

Hit me up with a PM. I've been looking to lease a BMW or MB for quite some time and learned a lot about the process. I'll be glad to help you out.

 

[Hank Scorpio]

View media item 591891

15% of your income is like 50K.

Good guess

You can apply the same principle to anyone's income. Since a car depreciates in value and becomes somewhat of a liability, you want to allocate as little as possible. Another variable to consider would be frequency of usage.

For me , at least--I like to spread my money around in different things. Usually towards savings or alternative investments.

 

[bravelude]

It's not an asset in your personal capacity.

A vehicle is an asset in a business, in which it is used to generate income (fleet management, rental cars, trucking etc).

A vehicle in your personal capacity helps you get around easier and depreciates in value, it does not make you money.

That‘s like saying your home is not an asset, because it doesnt make you money. Banks own vehicles, but they do not use them to generate operational income.

Your definition is illogical and wrong. It is do not an asset if you do not own it. So for leasehold folks, those cars are NOT your assets!

Bottom line, how is something gonna depreciate if it aint an asset? So, yes, a car is an asset. Banks consider it an asset too.

There is nothing to argue about, if thats what you believe in. I called it a depreciable asset because it does not appreciate, basically, I am saying it is a waste to lease a car, because you are financing a car that you do bot own. Basically pay to play. Catch my drift now? But hey, its their money,.do whatever they want. Just find it amateurish to come here asking about how to lease a BMW. Obviously not in their capacity to own.

 

[Betonblck]

Car is not an asset homie.

Son!

Yes it is. A depreciable asset. Meaning, it does not rise in value, but yes, it is an asset. Even in accounting, it goes on the books as an asset. But you wildin out, calling it a non asset.

Btw, why would a bank give you a loan on a non asset. Son! Too much logice, I am outs for real. But had to clear the air. haha

keep leasholding. luls

It's not an asset in your personal capacity.

A vehicle is an asset in a business, in which it is used to generate income (fleet management, rental cars, trucking etc).

A vehicle in your personal capacity helps you get around easier and depreciates in value, it does not make you money.

A car is an asset. Something does not have to make you money to be an asset. The house you live in is an asset.

 

[eiddyfouw]

Car is not an asset homie.

Son!

Yes it is. A depreciable asset. Meaning, it does not rise in value, but yes, it is an asset. Even in accounting, it goes on the books as an asset. But you wildin out, calling it a non asset.

Btw, why would a bank give you a loan on a non asset. Son! Too much logice, I am outs for real. But had to clear the air. haha

keep leasholding. luls

It's not an asset in your personal capacity.

A vehicle is an asset in a business, in which it is used to generate income (fleet management, rental cars, trucking etc).

A vehicle in your personal capacity helps you get around easier and depreciates in value, it does not make you money.

A car is an asset. Something does not have to make you money to be an asset. The house you live in is an asset.

Your house makes you money on capital appreciation over time. A car (unless it's a limited edition Ferrari or classic) does not.

 

[stillin729]

That‘s like saying your home is not an asset, because it doesnt make you money. Banks own vehicles, but they do not use them to generate operational income.

Your definition is illogical and wrong. It is do not an asset if you do not own it. So for leasehold folks, those cars are NOT your assets!

Bottom line, how is something gonna depreciate if it aint an asset? So, yes, a car is an asset. Banks consider it an asset too.

There is nothing to argue about, if thats what you believe in. I called it a depreciable asset because it does not appreciate, basically, I am saying it is a waste to lease a car, because you are financing a car that you do bot own. Basically pay to play. Catch my drift now? But hey, its their money,.do whatever they want. Just find it amateurish to come here asking about how to lease a BMW. Obviously not in their capacity to own.

Not in my capacity to own?

You clearly haven't read anything in this thread

 

[Hank Scorpio]

Your house makes you money on capital appreciation over time. A car (unless it's a limited edition Ferrari or classic) does not.

For the most part--A car is a depreciating asset.

 

[eiddyfouw]

It's not an asset in your personal capacity.

A vehicle is an asset in a business, in which it is used to generate income (fleet management, rental cars, trucking etc).

A vehicle in your personal capacity helps you get around easier and depreciates in value, it does not make you money.

That‘s like saying your home is not an asset, because it doesnt make you money. Banks own vehicles, but they do not use them to generate operational income.

Your definition is illogical and wrong. It is do not an asset if you do not own it. So for leasehold folks, those cars are NOT your assets!

Bottom line, how is something gonna depreciate if it aint an asset? So, yes, a car is an asset. Banks consider it an asset too.

There is nothing to argue about, if thats what you believe in. I called it a depreciable asset because it does not appreciate, basically, I am saying it is a waste to lease a car, because you are financing a car that you do bot own. Basically pay to play. Catch my drift now? But hey, its their money,.do whatever they want. Just find it amateurish to come here asking about how to lease a BMW. Obviously not in their capacity to own.

I'm not sure what you mean by banks owning vehicles. I'm assuming that you're talking about banks owning the car, because you're financing it? Same could be said about a house. It's an asset to the bank, because they generate money in the form of interest from your payments.

On to your pay to play. I don't actually see a problem with leasing. You're getting the usage out of the vehicle without having to worry about the maintenance of it. It's not for everyone, but I know a lot of people it makes sense for (including me, since I'm also looking at potentially leasing next year for a second car).

 

[703 hwy]

Leasing is not allowed on NT, its in the ROC...

 

[hulk7280]

It's not an asset in your personal capacity.

A vehicle is an asset in a business, in which it is used to generate income (fleet management, rental cars, trucking etc).

A vehicle in your personal capacity helps you get around easier and depreciates in value, it does not make you money.

you dont understand what an asset is..

 

[hulk7280]

Your house makes you money on capital appreciation over time. A car (unless it's a limited edition Ferrari or classic) does not.

oh really?  I guess I should let the bank know my house value should be higher because I paid more then its worth now..

Have you been asleep the last 6 or 7 years with the housing market crash?

An asset does not simple appreciate or depreciate.. so your telling me Stocks someone own in a company is NOT an asset? 

 

[Betonblck]

Car is not an asset homie.

Son!

Yes it is. A depreciable asset. Meaning, it does not rise in value, but yes, it is an asset. Even in accounting, it goes on the books as an asset. But you wildin out, calling it a non asset.

Btw, why would a bank give you a loan on a non asset. Son! Too much logice, I am outs for real. But had to clear the air. haha

keep leasholding. luls

It's not an asset in your personal capacity.

A vehicle is an asset in a business, in which it is used to generate income (fleet management, rental cars, trucking etc).

A vehicle in your personal capacity helps you get around easier and depreciates in value, it does not make you money.

A car is an asset. Something does not have to make you money to be an asset. The house you live in is an asset.

Your house makes you money on capital appreciation over time. A car (unless it's a limited edition Ferrari or classic) does not.

You can't just go around making up your own definition for words. An asset is anything that has value. Sneakers are an asset. Clothes are an asset.

I think you are mixing up the word asset with investment.

 

[eiddyfouw]

Your house makes you money on capital appreciation over time. A car (unless it's a limited edition Ferrari or classic) does not.

oh really?  I guess I should let the bank know my house value should be higher because I paid more then its worth now..

Have you been asleep the last 6 or 7 years with the housing market crash?

An asset does not simple appreciate or depreciate.. so your telling me Stocks someone own in a company is NOT an asset? 

Although in the property cycle your house values maybe sitting in a trough, your house value will increase over time (unless you're stuck somewhere like Detroit).

Car is not an asset homie.

...

A car is an asset. Something does not have to make you money to be an asset. The house you live in is an asset.

Your house makes you money on capital appreciation over time. A car (unless it's a limited edition Ferrari or classic) does not.

You can't just go around making up your own definition for words. An asset is anything that has value. Sneakers are an asset. Clothes are an asset.

I think you are mixing up the word asset with investment.

The reason I'm saying it's not an asset, is because you're still financing the car, which means technically you don't own it (the bank does).

Indeed, maybe you're right, I look at assets from a property development perspective.... firstly as income generating, secondly as something that appreciates in value over time.

 

[dipsetgeneral]

Wait OP, why don't you just buy a used vehicle?

Because I want a BMW m235i xDrive

I've decided on a specific car I want not another new or used car

Because he doesn't want too

Ok.

 

[grandtheftbike]

If you don't own it, then it's not your asset

 

[Betonblck]

If you don't own it, then it's not your asset

If you mean own as in completely paid for, then most homes are not assets since very few are paid for.

 

[young street86]

Scoop it mane. If you in a financial position to afford it, why not?

 

[capital sb]

 @ a car being an asset.

Thank you lol fools actually think cars are assets

If you don't own it, then it's not your asset

If its not putting money or cant put money into your pocket its not an asset.

 

[hulk7280]

If you don't own it, then it's not your asset

If thats true then a house isnt an asset because you dont own it..

 

[hulk7280]

Although in the property cycle your house values maybe sitting in a trough, your house value will increase over time (unless you're stuck somewhere like Detroit).
The reason I'm saying it's not an asset, is because you're still financing the car, which means technically you don't own it (the bank does).

Indeed, maybe you're right, I look at assets from a property development perspective.... firstly as income generating, secondly as something that appreciates in value over time.

ugh.. by your first sentence then a home is not an asset because you dont own it.. 

if you have a car that is worth 20k and you owe 15k on it.. you have 5 k in EQUITY in the car and that isnt an asset?  

an asset can depreciate or appreciate over time.. that doesnt define an asset..