Reply to controversial opinion: money & finances edition

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]People (other than business owners) who lease cars like to waste money[/quote]
Not really. Or at all.

People who buy new cars outright pay the lease too. Only for them it's called depreciation and comes out of their net worth instead of their income. Leasers pay the depreciation too and have the benefit of tens of thousands of dollars being tied up in  a depreciating, non productive asset.

There are a[b] lot[/b] of people, here especially who really have no clue about finance (you included)[/quote]

Your math falls apart once I own the vehicle outright and you're still paying for a car you'll never own.[/quote]

Hint: your asset has lost half of it's value and will continue to lose value until its only value is as scrap metal. Not paying it as a lease so all right though   :roll:

[/quote]

Agree, the monthly difference in payment between lease and buying can be invested (presumably you are smart enough to get zero Interest financing and not pay in cash), and [b]maintenance costs can be significant after year three[/b].[/quote]

I have no dog in this fight but this is simply not true. We have a 5 year old car and a 7 year old car. The 5 year old car has had nothing but routine maintenance. Same with the 7 year old car + new tires. [/quote]

Still have original brakes?  Tires alone are $1000 and need to be replaced every four years if not sooner, unless you drive on bald tires.  [b]Never had a car that didn’t require $1000 or more a year in upkeep starting in year 4. [/b] Even routine maintenance becomes mine expensive as  things like batteries and brake pads need to be replaced.[/quote]

You buy terrible cars.[/quote]

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