Buy or Lease A Car (Or buying/leasing in general)

[WASHED KING]

I mean if you buying a Chrysler/mopar you gotta expect to get a piece of ****. Rollback or no rollback

 

[Mark Antony]

So a couple things with this post, first and foremost it’s your paying taxes twice statement. Yes you pay taxes twice but it equals the same amount or less. When you less you only pay taxes on the depreciation value so if you decide to purchase the car after lease is up you pay taxes on the remainder. So even if you pay taxes twice in the same vehicle the over all amount is the same

Another thing to consider is you are looking at it like “ you own the car when you buy” while others look at it like” I own a depreciating asset”. If you are spending 40k on a car then sure buying makes sense , if you are spending 100k you should probably look at lease options.

I just don’t understand the “ I own it” mentality when all that means is you have something that is worth less and less everyday and will require more money into it year after year. I have owned cars for years and came to the conclusion that all they are is cash. I don’t care about owning or leasing I care about what is how much this asset is going to depreciate during my ownership and how do I spend the least amount of money during that time

Yeah as someone actually into cars I don't get one thinking "man I can't wait to see how much I can sell it for!" More what's the most economical for me during the period I own and drive the **** out of it.

 

[moderndarwin]

I've never leased. I like to get a car paid off and spend many years with no car payments. Just stack that "car note" money in an account until you want a new car... rinse repeat.

Lot of patience and contentment with life required for that approach. That’s not what we about on here. Either gotta get a bawse car with a 36 month lease or buy a car that’s unaffordable with that 84 month note

 

[Mark Antony]

Lot of patience and contentment with life required for that approach. That’s not what we about on here. Either gotta get a bawse car with a 36 month lease or buy a car that’s unaffordable with that 84 month note

You went to these extremes why and for who?

 

[moderndarwin]

You went to these extremes why and for who?

women and society. what else is there.

 

[tay1]

An 84 month car note

 

[antbanks81]

What are the tax benefits?

100% write off

 

[WASHED KING]

My car loan is 72 months..but it’s 0% interest and I’m like a year ahead of schedule.

 

[HarlemShakeStory]

Lot of patience and contentment with life required for that approach. That’s not what we about on here. Either gotta get a bawse car with a 36 month lease or buy a car that’s unaffordable with that 84 month note

This is the assumption most make when they see someone young-ish with nice things. Many assume that to get those things, some dumb financial decisions had to be made, when generally the opposite is true. People see buying a 30k Toyota on a 60k income as “smart” but buying an 80k luxury whip on a 300k income as ridiculous. Truth is - people just love to hate.

 

[air spider 777]

Got my widebody hellcat for fun and a Grand Cherokee lease for the daily.
Dont get all the Mopar hate

 

[mplsdunk]

Surprised it took this long for the unsolicited financial advisors to show up.

 

[Upptempo]

Surprised it took this long for the unsolicited financial advisors to show up.

This is the new trend of online social interaction for 2021. If you go on social media it's full of videos of guys like "Don't buy this $200 shoe with your stimulus. Buy this $40,000 tow truck and get paid to tow cars." And I'm sitting there like "hmmm $1,200-$40,000= "

 

[mplsdunk]

They really do than **** man, a couple guys made like 2k off some stocks and crypto now they’re warren buffet.

 

[Upptempo]

They really do than **** man, a couple guys made like 2k off some stocks and crypto now they’re warren buffet.

There's this Asian guy that my brother showed me on tiktok that gives "financial advice" And his entire page is just him basically telling people to not spend money on anything. One of the videos was his millionaire friends saying they all spent like $100 total on their outfits including their $25 shoes.

 

[ahat]

Good luck spending your stimulus money on a 40k tow truck up here thinking you gonna get in the game. Gonna **** around and get killed...

 

[mplsdunk]

I was gonna say something to that extent too but hey, you wanna steal peoples **** and act like your an entrepreneur go ahead and get shot.