Lease a car... or buy?

[landrun]

I've never leased a vehicle.
In fact, I've hear financial 'experts' say it is one of the worst financial decisions you can make. But I've had friends do it and say it is a good idea.

I'm just curious to know the opinion from the good folks on this board.

Buy or lease?

And why??

[jumperstop]

Most people don't have 20-30k sitting around to just buy a car...but if you can afford to buy I would.

[landrun]

When I say buy, I mean finance the car. You wouldn't need 20-30k up front.

... maybe I misunderstand what you're saying??

[jumperstop]

When I say buy, I mean finance the car. You wouldn't need 20-30k up front.

... maybe I misunderstand what you're saying??

The only cars I've had have been bought for me by my father. I guess I don't understand the difference in financing and leasing...don't you have to make payments in both? Interest different between the two?

[olevetonahill]

Ive never leased , seems to me with Buying you at least get some equity

[yermom]

if you want a new car and no equity every couple of years, and to have a car payment forever, go for it

otherwise it's a way to stretch out financing to like 8 years to get a lower payment and get you to pay a TON to finance

[tator]

One mistake people make is in viewing a car as an investment. Cars never appreciate (short of antiques or show cars). Leasing isn't always bad, but there are normally pretty limiting restrictions on a lease by the way of mileage, alterations to the vehicle, and what they decide is abnormal wear and tear.

I've never leased, but it seems to me like the bottom line comes down to what you plan to do over the next 6 years or so. If you plan to buy a car and keep it until it dies, leasing is obviously a bad idea. If you plan to buy a different car every few years, leasing is probably a pretty sweet deal.

[yermom]

well, it's a negative investment. you can lose a little or a lot :D

[47straight]

The only reason to get a lease is if you are a business and it lets you deduct expenses in a particular way.

If you're buying a new car every 2 years (the hook the lease companies throw out there) you're just pissing your money away either way. If you can actually afford to being doing this then you really don't have to worry your head about it either way.

[olevetonahill]

The only reason to get a lease is if you are a business and it lets you deduct expenses in a particular way.

If you're buying a new car every 2 years (the hook the lease companies throw out there) you're just pissing your money away either way. If you can actually afford to being doing this then you really don't have to worry your head about it either way.

And there ya have it
Well said

[GKeeper316]

when i was selling nissans, i used to love when people would come in wanting to lease... soooo much money in it for the salesman and dealership.

sometimes leasing isnt a bad option. one of the things that ****ed chrysler financial was the lease deals they were doing... essentially guaranteeing the buyout price, which ended up being far over the wholesale value of the vehicle at the end of the lease term.

but usually its a bad deal and not to be messed with in the case of private ownership. as stated above, it can be beneficial to the small business owner if he can write off the lease as a business expense.

[Leroy Lizard]

I can see leasing if you're going to be employed in a distant city for one or two years. It's a better deal than renting and you're not stuck trying to sell car.

[Okla-homey]

Leasing a car is among the top 5 or so stupidist financial decisions Americans routinely make.

[tcrb]

Leasing a car is among the top 5 or so stupidist financial decisions Americans routinely make.

This. And when you buy, buy used.

[Boomer.....]

I would not lease a car.

[XFollower]

http://www.daveramsey.com/index.cfm?event=askdave/&intContentItemId=10367

[BOOMERBRADLEY]

BUY a nice used car. ie. a Lexus and drive it until the wheels fall off.

Equity in a vehicle is a load of BS and doesn't exist unless you own a one of a kind classic car you bought for cheap. You are getting F'd either way so go the least painful route financially

[Breadburner]

Do you have your own buisness.....

[Sooner_Bob]

Everyone needs a brand new car at least once . . . . doesn't necessarily have to be an $80K Escalade though.

[ouleaf]

Leasing generally allows for a lower monthly payment than traditional financing. The reason is that when you sign a lease, you are essentially paying for the cost of the depreciation of the vehicle over the the 2 or 3 years lease agreement that you sign. So while you may be leasing a car that costs $35K, your lease is structured around the $12-$15K in depreciation costs that will occur from driving that car around.

This allows for a lower monthly payment or for you to technically afford a more expensive car than you maybe otherwise couldn't afford. The catch of the lease is it usually require a good amount of upfront money and you are restricted to the mileage you can put on the car among other things.

Some of the benefits of leasing are that it is a convenient way of getting a new car every 2-3 years. You don't have to worry about warranties expiring, and you don't have to worry about negotiating the values of a trade-in. So there are advantages to leasing, but it really is only advantageous if you are pretty well off financially and can afford the costs of signing a new lease every few years. It also really isn't worth leasing, unless you are going for a pricier model car. I wouldn't even consider leasing a car until you start getting into the $30K range.

[landrun]

Thanks everyone...

This following comment really is very interesting to me because I have been looking at some BMW 3-series vehicles with about 50k miles on them. You can pick one up for 16-19 thousand dollars...


BUY a nice used car. ie. a Lexus and drive it until the wheels fall off.
Equity in a vehicle is a load of BS and doesn't exist unless you own a one of a kind classic car you bought for cheap. You are getting F'd either way so go the least painful route financially

btw, I have never leased a vehicle.
I own a 2001 Mitsubishi I bought new for 21,000. (Interest and all) I still have it but it is getting old and has some problems that my mechanics can't figure out. So I might be buying an new one. I've owned this car 11 years so it has cost me about $160/month to own over its life. I wonder what an average/acceptable/commons sense value would be using this logic?

How much money do you spend a month on a car over the life of you vehicle (or at least as long as you own it??) I would think $160/month is pretty good. :confused:

[BOOMERBRADLEY]

Thanks everyone...

This following comment really is very interesting to me because I have been looking at some BMW 3-series vehicles with about 50k miles on them. You can pick one up for 16-19 thousand dollars...



btw, I have never leased a vehicle.
I own a 2001 Mitsubishi I bought new for 21,000. (Interest and all) I still have it but it is getting old and has some problems that my mechanics can't figure out. So I might be buying an new one. I've owned this car 11 years so it has cost me about $160/month to own over its life. I wonder what an average/acceptable/commons sense value would be using this logic?

How much money do you spend a month on a car over the life of you vehicle (or at least as long as you own it??) I would think $160/month is pretty good. :confused:

I have never owned a BMW so I can't speak for it, but I owned a Mercedes c240 up until a couple of months ago and had a lot of problems with it and it was expensive to fix. So no more German cars for me :(

I had a Lexus IS300 and put 120,000 miles on it and only had to change the fluids and tires. I now have a Lexus GX470 and it's an amazing vehicle as well. It's a personal choice, but I would rather shell out 5,000 more dollars for a very nice, used vehicle instead of getting something a little newer but not as dependable

[OhU1]

I liked Boomer's advice the best and you seemed to have followed it in the past. You should be able to get at least 10+ years out of a quality vehicle so long as you maintain it and don't drive it too roughly.

I'm at 9 years and 140,000 miles on my Camry and have had to do nothing but scheduled maintance, replaced the battery and sets of tires twice. I've been without a car payment for the last 6 years and plan for at least another 6 -9 years. To be safe I've set aside $12,000 in an account which will serve as funding for my next vehicle down the line. My tentative plan for my next car is to buy a used Toyota or Honda with 50,000 - 100,000 miles. Might even have money left over.

[C&CDean]

I have never owned a BMW so I can't speak for it, but I owned a Mercedes c240 up until a couple of months ago and had a lot of problems with it and it was expensive to fix. So no more German cars for me :(

I had a Lexus IS300 and put 120,000 miles on it and only had to change the fluids and tires. I now have a Lexus GX470 and it's an amazing vehicle as well. It's a personal choice, but I would rather shell out 5,000 more dollars for a very nice, used vehicle instead of getting something a little newer but not as dependable

Yes.

European vehicles are crap (I know, I'm a broken record but it's proven to be true). Expensive crap at that.

Any of the Toyota/Honda/Nissan/Hyundai/Kia vehicles are by far your best bet. If you have to upgrade, then the Lexus/Acura/Infinitis are great too. Just remember though they are overpriced Toyotas/Hondas/Nissans.

However, I don't buy used vehicles. Yes, financially it's smarter, but it's worth the extra $$ to me for the peace of mind of knowing nobody wrecked/trashed/screwed in/hotrodded/puked in/**** in/etc. my vehicle. I also like the newer warranties (Hyundai and Kia do that 100K miles/10-year deal which is hard to beat).

I have bought a few used farm trucks, but always end up selling them after a year or two because they start having problems from the goober before me who let them run low on coolant or oil or transmission fluid, or who never changed the oil, etc.

[sooner_born_1960]

The lesson here is; Never buy a used truck from Dean.

[BOOMERBRADLEY]

Yes.

European vehicles are crap (I know, I'm a broken record but it's proven to be true). Expensive crap at that.

Any of the Toyota/Honda/Nissan/Hyundai/Kia vehicles are by far your best bet. If you have to upgrade, then the Lexus/Acura/Infinitis are great too. Just remember though they are overpriced Toyotas/Hondas/Nissans.

However, I don't buy used vehicles. Yes, financially it's smarter, but it's worth the extra $$ to me for the peace of mind of knowing nobody wrecked/trashed/screwed in/hotrodded/puked in/**** in/etc. my vehicle. I also like the newer warranties (Hyundai and Kia do that 100K miles/10-year deal which is hard to beat).

I have bought a few used farm trucks, but always end up selling them after a year or two because they start having problems from the goober before me who let them run low on coolant or oil or transmission fluid, or who never changed the oil, etc.

I know they are more expensive, but I prefer a more luxurious and quiet ride. I don't care about speed at all.

If you plan on keeping a vehicle for a long time I'm certainly not opposed to buying, but anyone who thinks of a car as an "investment" is sorely mistaken. I agree about the warranty though

[C&CDean]

The lesson here is; Never buy a used truck from Dean.

No, never buy a used-used truck from Dean. All my trucks run/look like the day I bought them and are meticulously maintained. Sometimes they're covered in cow**** and mud, but they're solid.

[C&CDean]

I know they are more expensive, but I prefer a more luxurious and quiet ride. I don't care about speed at all.

If you plan on keeping a vehicle for a long time I'm certainly not opposed to buying, but anyone who thinks of a car as an "investment" is sorely mistaken. I agree about the warranty though

Sure they're an investment. A really crappy one. However, when I decide I need to jump in the truck and go up into the mountains of Colorado it is nice to know I know exactly where that truck has been, how it's been driven, and if something happens, I just pick up the phone and they'll come tow it in. Same goes for momma's car when she runs off to Iowa or Arizona. Peace of mind.

[sooner_born_1960]

No, never buy a used-used truck from Dean. All my trucks run/look like the day I bought them and are meticulously maintained. Sometimes they're covered in cow**** and mud, but they're solid.
This doesn't exactly jibe with the last paragraph of your previous post.

[C&CDean]

I said "used-used" meaning I bought it used then am selling it. Pay attention.

[sooner_born_1960]

Oops. My mistake.

[Jacie]

I have never leased, only bought cars (two new, six used and kind of surprised that is all). However, my older brother leased when he was a salesman and needed/wanted a new vehicle and a low monthly payment. He drove some nice cars during that time, more car than he could have otherwise, and would switch out every year or so.

As stated, cars that are driven daily are not an investment, they are an expense. Used cars are less of an expense than new ones. The longer you drive a car, the lower the per mile expense (unless it is a lemon).

I'd say it comes down to doing the math to see what the upfront, continuiing and final costs will be and if you are in the right situation that you can justify it (to yourself) either way.

And there ain't nothing better (when talking about cars) than owning a new one.

[Veritas]

Leases are for suckers, even if it's a business expense.

Buying new is also for suckers.

Save up your pennies and pay cash.

[soonerscuba]

My car isn't an investment, but the rims and TapouT decal are.

[texaspokieokie]

I have never leased, only bought cars (two new, six used and kind of surprised that is all). However, my older brother leased when he was a salesman and needed/wanted a new vehicle and a low monthly payment. He drove some nice cars during that time, more car than he could have otherwise, and would switch out every year or so.

As stated, cars that are driven daily are not an investment, they are an expense. Used cars are less of an expense than new ones. The longer you drive a car, the lower the per mile expense (unless it is a lemon).

I'd say it comes down to doing the math to see what the upfront, continuiing and final costs will be and if you are in the right situation that you can justify it (to yourself) either way.

And there ain't nothing better (when talking about cars) than owning a new one.

Agree with this.

matter of priorities. i like new vehicles & so far they've always been Ford or GM. that probably won't change.

[Tulsa_Fireman]

My car isn't an investment, but the rims and TapouT decal are.

You're small time until you invest in a beautiful glass etching of the Virgin Mary on your back glass.

[BOOMERBRADLEY]

My very English last name in old English lettering on the back isn't an investment but very confusing to onlookers

[Partial Qualifier]

I leased a car. I agree with most of the responses but I'd reiterate that it's not a universally "bad" decision. Leasing the first three years and then buying the car outright worked out great for me because I got the car I wanted and was able to negotiate the buyout, which is key.

The 07's had been shipping for a few months and Nissan was having a lease special on 06 models, I got a monthly pmt way lower than I could've on a 5-year note. Free oil changes & maintenance for 3 years. Now I have a little more than a year left on my loan - then I'll have a paid-for, 5-year-old car I've been driving since new.

If you're still inclined to lease, don't fall for the allure of having a new, fancy car. As indicated above, that's the wrong way to go. Have a plan, find a good lease situation and get the buyout lowered and get it in writing. If they're not willing to negotiate the buyout, go to another dealership.

[Leroy Lizard]

You're small time until you invest in a beautiful glass etching of the Virgin Mary on your back glass.

Typical midwesterner doesn't know how it's done. You need a memorial dedication to some dumbass friend who got killed at 17 years of age because he was gang-banging and drug pushing. The more syrupy (and gay) the sentiment, the better. "Joe 1990-2007 We love you, man"

[Tulsa_Fireman]

Go away, Leroy.

I'm trying to hate on mexicans and you're not helping.

[Veritas]

Typical midwesterner doesn't know how it's done. You need a memorial dedication to some dumbass friend who got killed at 17 years of age because he was gang-banging and drug pushing. The more syrupy (and gay) the sentiment, the better. "Joe 1990-2007 We love you, man"
Leroy, just when I thought you couldn't possibly be any dumber, you go and post something like this... and totally redeem yourself!

[sappstuf]

European vehicles are crap (I know, I'm a broken record but it's proven to be true). Expensive crap at that.

I bought a 2002 Volvo S60 2.4T in 2002 while I was stationed in Italy. It has about 130K miles on it and the only thing outside of routine maintanence was the A/C started acting funny last summer.. It cost me $300 to fix and has been working fine ever since.

I had all the shocks replaced and brakes replaced not too long ago. Cost me about $2500. Expensive, but planned for. Car has been paid off for 4 years.

When I bought it, I planned on driving it for 15 years. I am 9 years in and still extremely satisfied with it.

[yermom]

is it a manual?

[Tulsa_Fireman]

is it a manual?

No, it's a car, silly.

[C&CDean]

I bought a 2002 Volvo S60 2.4T in 2002 while I was stationed in Italy. It has about 130K miles on it and the only thing outside of routine maintanence was the A/C started acting funny last summer.. It cost me $300 to fix and has been working fine ever since.

I had all the shocks replaced and brakes replaced not too long ago. Cost me about $2500. Expensive, but planned for. Car has been paid off for 4 years.

When I bought it, I planned on driving it for 15 years. I am 9 years in and still extremely satisfied with it.

sapp. heh.

[MR2-Sooner86]

Leasing = poking money down a rat hole

[XFollower]

Leases are for suckers, even if it's a business expense.

Buying new is also for suckers.

Save up your pennies and pay cash.

+10

[soonerbrat]

leasing is NOT a good deal. especially if you go over your miles. it's a huge waste of money

[MR2-Sooner86]

Leasing a car is among the top 5 or so stupidist financial decisions Americans routinely make.

And the other four?

[Sooner_Bob]

Leases are for suckers, even if it's a business expense.

Buying new is also for suckers.

Save up your pennies and pay cash.


Save up your pennies and pay cash for what?


Buying new may not be the best "investment" but I totally get Dean's point. However, I've only bought one new vehicle in my life and that was back in 1996. Everything since has been used.

[PhiDeltBeers]

I own a Lexus GX470, a Lexus RX330, and a Nissan GT-R. I've also owned 2 BMW's both with issues. It seems like these Japanese compaines know what they're doing. I've also owned a Lexus IS250. Out of all the Lexus's I've owned, I can't think of any significant issues I've had with any of them.

All, this being said, I should be leasing as fast as I go through vehicles. I think the next vehicle up is a Range Rover. I'd definitely lease one due to reliability issues.

I kept my Lexus IS250 for 3 years and figured out last week, I would've saved $5000 if I would have leased it.

[Viking Kitten]

Why the **** would anyone want a car they know has reliability issues?

[C&CDean]

Why the **** would anyone want a car they know has reliability issues?

Status symbol or penis issues.

[Viking Kitten]

By the way, what you want on your car is big a** "#3" across the rear window. That spells class.

[saucysoonergal]

Why the **** would anyone want a car they know has reliability issues?

Cause it is a big status symbol thingie that hipster doofi go in for.

[sappstuf]

Status symbol or penis issues.

What if your penis has reliability issues?

[Sooner_Bob]

By the way, what you want on your car is big a** "#3" across the rear window. That spells class.

Don't forget the "bull balls" hangin' off the trailor hitch.

[stoops the eternal pimp]

I haven' read the thread but im sure Dean recommended the mercedes or bmw

[Sooner_Bob]

I haven' read the thread but im sure Dean recommended the mercedes or bmw

Along with several other nice foreign cars.

[Viking Kitten]

And a delicious Starbucks latte.

[C&CDean]

grande or venti?

[C&CDean]

God, that felt gay typing it. No way in hell am I gonna say it.

[stoops the eternal pimp]

I can see it now...Dean rollin around in his 3 series beamer with the sunroof open, latte in hand, and singin the **** out of some air supply

[Viking Kitten]

You know there's some Wham on that playlist too.

[OUthunder]

Wife is in the market for a new ride. Drove the BMW X5, Lexus RX, Lexus GX, and the Acura MDX.

I like the BMW but who is stupid enough to pay 70k for a car with that fewer options than one with more options and 16k cheaper? Not to mention less reliable?

Someone who needs the BMW emblem on there hood, that's who! I like the looks and the ride, but reliability sucks and the car had very few bells and whistles on it.

Liked the looks of the GX the best. After about five minutes of driving it, the wife was like no ****ing way, what a rough ride. I agreed, looked nice, road like a ****ing Hummer, even in comfort mode.

Went to the Acura dealer and drove the MDX. Didn't care much for the 55k price tag, but the damned thing rode well, was quiet, and had everything on it but beverage service. Plus it is the #1 ranked mid size luxury suv on the market. Never even heard of it before. Now I'm about to own one because my wife doesn't want a car that everyone else drives. Cough>Lexus RX350<Cough.

It all boils down to ego.

[stoops the eternal pimp]

Im on my 2nd MDX...Love it man....love it...I would do a commercial for those people for free..I have the technology package

safety man...After my wife and kids walked away from the accident in the first MDX, no way I was going to go with anything else

[stoops the eternal pimp]

You know there's some Wham on that playlist too.

You do realize in our scenario that dean will need some hair plugs

[saucysoonergal]

You do realize in our scenario that dean will need some hair plugs

And some Mederma for his taint. ;)

[NormanPride]

He could go the Joe Satriani route.

[PhiDeltBeers]

Because I freaking like the way the Range Rover looks and drives. Same with the BMW I owned. They both have reliability problems, but I was willing to put up with them for awhile. I just got a little nervous with the warranty coming to an end so I got rid of it. This is the reason I'd lease a Range Rover. Never have to worry about warranty.

As for status symbol or penis envy (or whatever you called it), it's all relative. What about people that buy $30k camaro's? Penis size problem? Heck, cost the same as a truck, if not, less.

And if a person can afford to drive something nice...why not? Beat's a Prius (no offense to anyone that owns one).

Oh, and if anyone thinks they'll see a latte in my car, I had to throw it out the window so I had a spot for my spit cup.

;)

[C&CDean]

Dude, those RR's are ****ing ugly. Fugly. Fugly POS. Worse than a hummer.

[OUthunder]

Dude, those RR's are ****ing ugly. Fugly. Fugly POS. Worse than a hummer.

Bruce can swing the repair costs and reliability issues. keep up.

[PhiDeltBeers]

Dude, those RR's are ****ing ugly. Fugly. Fugly POS. Worse than a hummer.

Well, MDX isn't exactly my cup of tea. I recall you liking classic hotrods over my GT-R as well. Different strokes...once again.

My point was, it wasn't a status symbol thing.

[C&CDean]

Y'all have left out the wide-lapel silk shirt, Mr. T starter kit gold chain ensemble, and pron star stache. Wake me up before you go-go, I don't wanna be riding solo...

Oh yeeeaahhh...

[stoops the eternal pimp]

i just shot red bull out my nose

[C&CDean]

Well, MDX isn't exactly my cup of tea. I recall you liking classic hotrods over my GT-R as well. Different strokes...once again.

My point was, it wasn't a status symbol thing.

Well you must really like them because everytime I see one I go "look at that dumbass driving that POS." It's usually some soccer mom or some wannabe yup type guy. Seriously though, they're junk. If you've gotta have something ugly and boxy buy a Toyota Landcruiser. Twice the vehicle, less money, and almost as ugly.

[PhiDeltBeers]

Maybe, I've been watching too much Top Gear?

[OUthunder]

Well you must really like them because everytime I see one I go "look at that dumbass driving that POS." It's usually some soccer mom or some wannabe yup type guy. Seriously though, they're junk. If you've gotta have something ugly and boxy buy a Toyota Landcruiser. Twice the vehicle, less money, and almost as ugly.

They really messed the landcruiser up. I know it was ugly before, now it looks like poo.

The Range Rover looks like the new QX56 but without the boob job and with some liposuction.

[stoops the eternal pimp]

I've been driving MDX's since 2004 and the only things I've had to replace are brakes, tires, and windshield wipers

[PhiDeltBeers]

They really ****ed the landcruiser up. I know it was ugly before, now it looks like ****.

The Range Rover looks like the new QX56 but without the boob job and with some liposuction.

Hate the new QX56, but loved the last one. My wife also likes Escalades, but we had one that had issues as well. We had a Jeep SRT 8 that was a lot of fun, but got rid of it when the baby came.

[C&CDean]

I've been driving MDX's since 2004 and the only things I've had to replace are brakes, tires, and windshield wipers

And upholstery on that nasty seat where you plant your ****-incrusted nether regions.

[stoops the eternal pimp]

I actually put a cloth underneath me after a workout and then hang it up on the rearview mirror afterwards to use as a air freshner...

[OUthunder]

Wife was gonna buy the QX56 until they redesigned it. Have an Armada and the 56 is just a "nicer" version of that.

Was really disappointed with the ride in the Lexus GX. The RX rides very nice and so do the LS.

[PhiDeltBeers]

I actually put a cloth underneath me after a workout and then hang it up on the rearview mirror afterwards to use as a air freshner...

:D

[BOOMERBRADLEY]

Was gonna buy the QX56 until they ****ed it up. Have an Armada and the 56 is just a "nicer" version of that.

Was really disappointed with the ride in the Lexus GX. The RX rides very nice and so do the LS.

The RX and GX aren't in the same ballpark. Of course they ride differently

[PhiDeltBeers]

Was gonna buy the QX56 until they ****ed it up. Have an Armada and the 56 is just a "nicer" version of that.

Was really disappointed with the ride in the Lexus GX. The RX rides very nice and so do the LS.

Really, my wife and I are the opposite. We like the GX way more than the RX. I told her I wished I'd just bought another GX instead of the RX (I drive the RX everyday).

She took out the GT-R today. I asked her who she asked if she could drive it. She said she writes the check for it. I shut-up.

:(

[Boomer.....]

I have a LS430 and it is amazing as far as quality and ride. Best car I've had/ever rode in.

[soonerbrat]

a friend of mine bought a landrover...that thing was definitely a POS. the day after she drove it off the lot, everything electric was fried. car wouldn't even start. the dealership came and picked it up and i took her to the lot (inTulsa). They were going to give her a loaner and fix her car, but I told her to make them give her a new one altogether. Actually, she was too shy to tell them, so I told them. She was willing to let them fix it because it was a white one, and the only other one they had was black.

[pphilfran]

I own a Lexus GX470, a Lexus RX330, and a Nissan GT-R. I've also owned 2 BMW's both with issues. It seems like these Japanese compaines know what they're doing. I've also owned a Lexus IS250. Out of all the Lexus's I've owned, I can't think of any significant issues I've had with any of them.

All, this being said, I should be leasing as fast as I go through vehicles. I think the next vehicle up is a Range Rover. I'd definitely lease one due to reliability issues.

I kept my Lexus IS250 for 3 years and figured out last week, I would've saved $5000 if I would have leased it.

JFC!!!!

You have 150k in cars sitting in your garage?

Btw I will take the GT-R off your hands...

[PhiDeltBeers]

JFC!!!!

You have 150k in cars sitting in your garage?

Btw I will take the GT-R off your hands...

Yeah, I suppose I have a small penis.

;)

Edit: Actually, closer to $180k.

:(

[Boomer.....]

Bruce's rich cousin?

[pphilfran]

Yeah, I suppose I have a small penis.

;)

Edit: Actually, closer to $180k.

:(

Initially I had it at 200k but that was too high so I lowered my guess...

When can I pick up the GT-R...that sob is a rocket ship...

[PhiDeltBeers]

WTH is Bruce? Someone enlighten me.

[PhiDeltBeers]

Initially I had it at 200k but that was too high so I lowered my guess...

When can I pick up the GT-R...that sob is a rocket ship...

Ask my wife, she's driving it today.

She's mad at me because she wants a pool. I told her to park it in the backyard and she could lay out by it.

:D

[Mjcpr]

Psssh...you don't have a pool?

Cretin.

[PhiDeltBeers]

Lol, I have a 2 year old. Not sure how safe it'd be right now.

[Boomer.....]

But do you have 2 fireplaces?

[Whet]

At the end of January, I turned in my leased car. The entire time I had it, I felt I was driving a rental car. The lease payments were low, but you don't get anything for those payments, except to "rent" the car. The contract provided 10,000 miles/year for a 39 month lease When I turned it in, the car had 14,000 miles. This was the first and last time I lease.

Leasing is not for me, so I purchased a new vehicle to replace the leased one.

[pphilfran]

Ask my wife, she's driving it today.

She's mad at me because she wants a pool. I told her to park it in the backyard and she could lay out by it.

:D

:)

[C&CDean]

Lol, I have a 2 year old. Not sure how safe it'd be right now.

If you knew what they grew up into you'd build a pool, and send the little bugger out there to play. With a chain.

[Mjcpr]

At the end of January, I turned in my leased car. The entire time I had it, I felt I was driving a rental car. The lease payments were low, but you don't get anything for those payments, except to "rent" the car. The contract provided 10,000 miles/year for a 39 month lease When I turned it in, the car had 14,000 miles. This was the first and last time I lease.

Leasing is not for me, so I purchased a new vehicle to replace the leased one.

What'd you buy, Bruce? :D

[Whet]

a car.

[Boomer.....]

A 2005 Jeep Liberty

[C&CDean]

Oh lord...

[PhiDeltBeers]

But do you have 2 fireplaces?

Yeah, but one's fake. lol.

[Mjcpr]

A 2005 Jeep Liberty

He can't afford two fireplaces, I doubt he can afford that.

[tcrb]

Ask my wife, she's driving it today.

She's mad at me because she wants a pool. I told her to park it in the backyard and she could lay out by it.

:D

http://i123.photobucket.com/albums/o285/bfro99/car_pool_2.jpg

[PhiDeltBeers]

If you knew what they grew up into you'd build a pool, and send the little bugger out there to play. With a chain.

Oh we'll get one in 3 or 4 years. We really need to get our business paid off before we look into other expensive purchases. My neighbor is putting one in right now, so we'll just mooch off him for awhile.

[pphilfran]

Oh we'll get one in 3 or 4 years. We really need to get our business paid off before we look into other expensive purchases. My neighbor is putting one in right now, so we'll just mooch off him for awhile.

Another good item to help save tens of thousands over a lifetime...

Don't lease, buy...

Don't get a pool, mooch off the neighbor...

[tator]

I think you should lease a pool, let them come take it back in 3 or 4 years and have another put in

[Whet]

with new water, too!

http://3.bp.blogspot.com/_RfsQkzyp4tY/Rs15V_-4vXI/AAAAAAAAAv4/Qu9wEHFBCEs/s400/red+x+001.gif

[PhiDeltBeers]

I think you should lease a pool, let them come take it back in 3 or 4 years and have another put in

Is there a limitation to how many canonballs I can do a year?

:D

[texaspokieokie]

I think you should lease a pool, let them come take it back in 3 or 4 years and have another put in

My sister had a pool installed @ their house in CA. after my nephew grew up & left, they got tired of messing with it, so they had it filled with sand & gravel. (readily available, lived in desert.)

then, they moved to WI & found a house they really liked. only drawback, had a pool. after about 4 yrs, had pool totally removed & they were ecstatic.


must be a message in their.

[Leroy Lizard]

Go away, Leroy.

I'm trying to hate on mexicans and you're not helping.

Change Joe to Jose.

[tator]

must be a message in their.
in their what? DON'T LEAVE US HANGING!!!

:D

[Whet]

At the end of January, I turned in my leased car. The entire time I had it, I felt I was driving a rental car. The lease payments were low, but you don't get anything for those payments, except to "rent" the car. The contract provided 10,000 miles/year for a 39 month lease When I turned it in, the car had 14,000 miles. This was the first and last time I lease.

Leasing is not for me, so I purchased a new vehicle to replace the leased one.


What'd you buy, Bruce? :D

A nice German car, Maybach 57S

[OhU1]

Originally Posted by Tulsa_Fireman
Go away, Leroy.

I'm trying to hate on mexicans and you're not helping.


Change Joe to Jose.


Hey Fireman, Leroy: What did the Mexican fireman name his twins?
A: Hose-A and Hose-B.

Da dump bump.. chish!

[OUthunder]

Free will baby. It's your money, spend it how you'd like. Personally, I'm not a big fan of leasing but it is beneficial for some.

[Okla-homey]

amiong other stupid financial decisions Americans commonly make, in no particular order:

having more taxes withheld from your income than necessary in order to get a tax refund.

taking out student loans to pay for a college education in a field you can't possibly earn a living in after graduation. I'm talking to you English, art, and dance majors.

Buying crap on credit cards on which they pay exorbitant interest rates.

Buying pillow shams and bed dust ruffles. Not really, but they are a huge waste of money.

[texaspokieokie]

in their what? DON'T LEAVE US HANGING!!!

:D

my bad !!!! shoulda been "there".

sorry

[GKeeper316]

Why the **** would anyone want a car they know has reliability issues?

i bought my jeep knowing they generally have issues. i like to work on jeeps. parts are cheap. i dont ever have to worry about what the weathers gonna be doing (which can sometimes bite me in the ***. during the 2 snowstorms we had this winter i ended up being a taxi service for all my freinds that drive mustangs and trucks)

but its all good. im a jeep guy.

[yermom]

i'd love an old Jeep.

i would not want it to be my only car though...

[jkjsooner]

having more taxes withheld from your income than necessary in order to get a tax refund.


I think this depends on your situation. If you owe high interest credit card debt, then sure take the money early and pay down that debt.

If you have no debt, you will probably put the money in an account that gives you less than 1% interest or you put it in a more risky investment that lately has been just as likely to lose money than gain money. (The last year or so has been good though.)

Having more withheld has a few advantages. 1) If you are not good at saving then it's a way to force you to save some money. Not being able to save is a mistake people make but that's a separate issue. 2) It makes sure you don't fall into a trap where you can't afford to make your tax payment. If you have multiple streams of income with some variability (say stock dividends) in some you can't always predict what you're final income is going to be. 3) It has a psychological impact. Sometimes it's more than just math.

[pphilfran]

I think this depends on your situation. If you owe high interest credit card debt, then sure take the money early and pay down that debt.

If you have no debt, you will probably put the money in an account that gives you less than 1% interest or you put it in a more risky investment that lately has been just as likely to lose money than gain money. (The last year or so has been good though.)

Having more withheld has a few advantages. 1) If you are not good at saving then it's a way to force you to save some money. Not being able to save is a mistake people make but that's a separate issue. 2) It makes sure you don't fall into a trap where you can't afford to make your tax payment. If you have multiple streams of income with some variability (say stock dividends) in some you can't always predict what you're final income is going to be. 3) It has a psychological impact. Sometimes it's more than just math.


Yes, sometimes it is about people that don't understand money...or don't give a damn...they don't give a crap about saving...so they also don't give a crap about giving money away to the Uncle...

Do you actually think people take the refund and save it? NO, they go on a buying spree....or pay down the high interest credit card they used while giving money away...

Address the root problem...not put in solutions that add to the problem...

You won't get ahead unless you do the simple things right...and giving Uncle Sam a free loan is a simple thing to avoid...

[texaspokieokie]

always thot it was funny when someone would brag about getting a large tax refund. like they really outsmarted the government.

it is nice tho, for a brief tme.

[C&CDean]

always thot it was funny when someone would brag about getting a large tax refund. like they really outsmarted the government.

it is nice tho, for a brief tme.

I get a large refund every year, but I claim a buttload of losses on the farm to do it. If you don't have big-time deductions and you still get a big refund then yes, you are doing it wrong.

[pphilfran]

I get a large refund every year, but I claim a buttload of losses on the farm to do it. If you don't have big-time deductions and you still get a big refund then yes, you are doing it wrong.

In your business I could possibly understand...you income and deductions probably vary significantly from year to year...

Do you pay taxes quarterly?

[C&CDean]

In your business I could possibly understand...you income and deductions probably vary significantly from year to year...

Do you pay taxes quarterly?

Nay. I pay yearly. And my income has gone up every year for the past 36 years, and so have my taxes. I have less "normal" deductions (the kids are grown and gone) but have the usual mortgage interest on my home and some land.

Without the farm deductions, I would be paying several thousand in addition to what I have deducted from my check. The farm deductions allow me to lower my income into the appropriate tax bracket to get a nice return. The amount of my deductions (and my return) vary from year to year depending on what I buy that particular year.

I typically spend somewhere between $40K and $90K per year on equipment. That won't continue forever as I pretty much have all the equipment I need now to run the farm. I am still shopping for a good back hoe, so I may buy one this year, and things like disk mowers wear out and have to be replaced every few years. My accountant depreciates all my equipment out so that I don't have to buy something every year - I'll have some relief from the depreciation.

Anyhow, enough of my personal story.

[texaspokieokie]

after some of our better years, we had to pay quarterly the next year. been a while tho.

[yermom]

Yes, sometimes it is about people that don't understand money...or don't give a damn...they don't give a crap about saving...so they also don't give a crap about giving money away to the Uncle...

Do you actually think people take the refund and save it? NO, they go on a buying spree....or pay down the high interest credit card they used while giving money away...

Address the root problem...not put in solutions that add to the problem...

You won't get ahead unless you do the simple things right...and giving Uncle Sam a free loan is a simple thing to avoid...

in the end, this is a pretty small error to make compared to loads of others. it's still better to get a check than to blow all your money and then have to pay Uncle Sam after the fact, or owe too much and have to pay a penalty

[yermom]

Nay. I pay yearly. And my income has gone up every year for the past 36 years, and so have my taxes. I have less "normal" deductions (the kids are grown and gone) but have the usual mortgage interest on my home and some land.

Without the farm deductions, I would be paying several thousand in addition to what I have deducted from my check. The farm deductions allow me to lower my income into the appropriate tax bracket to get a nice return. The amount of my deductions (and my return) vary from year to year depending on what I buy that particular year.

I typically spend somewhere between $40K and $90K per year on equipment. That won't continue forever as I pretty much have all the equipment I need now to run the farm. I am still shopping for a good back hoe, so I may buy one this year, and things like disk mowers wear out and have to be replaced every few years. My accountant depreciates all my equipment out so that I don't have to buy something every year - I'll have some relief from the depreciation.

Anyhow, enough of my personal story.

you are welcome for all of your help with the farm Dean. at least it wasn't going to the military industrial complex

[pphilfran]

in the end, this is a pretty small error to make compared to loads of others. it's still better to get a check than to blow all your money and then have to pay Uncle Sam after the fact, or owe too much and have to pay a penalty

If people can't handle the small stuff properly what makes you think they will be fiscally responsible when dealing with larger issues?

Financial planning is finding a lot of small items that add up to significant sums of money...few people can find one item that will save them 500 bucks a month...but most people can find a whole bunch of little stuff that adds up to $500...

There are a few instances where a big check from the fed is acceptable...self employed...farmer...but being fiscally irresponsible is not one of them....

[yermom]

i'm just saying, missing out on some interest ranks pretty low compared to trading in your car every couple of years, payday loans, cash advances...

[saucysoonergal]

Nay. I pay yearly. And my income has gone up every year for the past 36 years, and so have my taxes. I have less "normal" deductions (the kids are grown and gone) but have the usual mortgage interest on my home and some land.

Without the farm deductions, I would be paying several thousand in addition to what I have deducted from my check. The farm deductions allow me to lower my income into the appropriate tax bracket to get a nice return. The amount of my deductions (and my return) vary from year to year depending on what I buy that particular year.

I typically spend somewhere between $40K and $90K per year on equipment. That won't continue forever as I pretty much have all the equipment I need now to run the farm. I am still shopping for a good back hoe, so I may buy one this year, and things like disk mowers wear out and have to be replaced every few years. My accountant depreciates all my equipment out so that I don't have to buy something every year - I'll have some relief from the depreciation.

Anyhow, enough of my personal story.

Dang liberals milking the system!!!!






;)

[pphilfran]

i'm just saying, missing out on some interest ranks pretty low compared to trading in your car every couple of years, payday loans, cash advances...

Kind of like saying it is ok to shoplift...just don't carry a gun when you do it...:)

Paying in too much in advance is not as bad as the items you listed...

But...

Instead of adding to the credit card debt they could be getting more money each month to pay down the debt...or they might not need the high interest payday loan or cash advance...

Like I said if you can't do the small stuff properly I see no reason to believe you can do the much more difficult tasks in front of you...

[C&CDean]

Dang liberals milking the system!!!!






;)

Unlike the rest of you libs, I work for my return.:P

[OutlandTrophy]

Kind of like saying it is ok to shoplift...just don't carry a gun when you do it...:)

Paying in too much in advance is not as bad as the items you listed...

But...

Instead of adding to the credit card debt they could be getting more money each month to pay down the debt...or they might not need the high interest payday loan or cash advance...

Like I said if you can't do the small stuff properly I see no reason to believe you can do the much more difficult tasks in front of you...

What if a family has no credit card debt? How much is too much for a return?

[yermom]

well, if you don't owe Uncle Sam at the end of the year, he's making money on interest instead of you

[pphilfran]

What if a family has no credit card debt? How much is too much for a return?

The best deal is to owe them a little at the end of the year..you can make some interest and not let DC make the money...

I can't remember the actual numbers but if your income is up over last year you can still owe up to 10% of your tax bill and not pay a penalty...or something similar...

I will save everyone's money for em...just send me 50 bucks a month and I will give ya 600 bucks at the end of a one year term...I will take all I can get from as many people that wish to contribute..hell, I will even send you a monthly statement, something the fed don't do...

Deal?

[OutlandTrophy]

well, if you don't owe Uncle Sam at the end of the year, he's making money on interest instead of you

Get The F Out!! For reals??

How much is too much? $1? $10? $1,000?

[pphilfran]

Get The F Out!! For reals??

How much is too much? $1? $10? $1,000?

Probably a different amount for each individual...to me $1 is too much...I try to owe about 500 at the end of the year...

[OutlandTrophy]

where does the US Treasure place this money of mine to earn interest on it?

[pphilfran]

where does the US Treasure place this money of mine to earn interest on it?

They place the money in other fed notes...and then pay themselves interest, interest from your money, on their money that was originally your money...

And that is another item that gets my blood boiling..

[C&CDean]

What I think Phil/yermom are missing here is this small, but important little reality: How many people who end up = at the end of the year are actually investing their money and drawing interest on it? I'd wager the answer is: not very many.

To the average American, getting a tax return is like a bonus or something. Of course it's not, but you can do a lot more with $5K in one chunk than you can with bits and pieces here and there where you just spend it on your normal day-to-day stuff.

Of course, if you're disciplined enough to take whatever money you think you are screwing the gov out of investing and then invest it yourself - well then good on ya. This doesn't happen often. In reality, the whole "why should I let Uncle Sam invest my money" argument is true in base, but false in reality.

[pphilfran]

What I think Phil/yermom are missing here is this small, but important little reality: How many people who end up = at the end of the year are actually investing their money and drawing interest on it? I'd wager the answer is: not very many.

To the average American, getting a tax return is like a bonus or something. Of course it's not, but you can do a lot more with $5K in one chunk than you can with bits and pieces here and there where you just spend it on your normal day-to-day stuff.

Of course, if you're disciplined enough to take whatever money you think you are screwing the gov out of investing and then invest it yourself - well then good on ya. This doesn't happen often. In reality, the whole "why should I let Uncle Sam invest my money" argument is true in base, but false in reality.

I understand but that don't make it right...and those same people that are giving The Uncle an extra 50 bucks are week are the same ones adding 200 a month to their credit card total...

Like I said...find a dozen items that save ya 5 bucks a week and you have 3 grand at the end of the year...and ANYBODY can find 5 bucks on 12 items...

[C&CDean]

I understand but that don't make it right...and those same people that are giving The Uncle an extra 50 bucks are week are the same ones adding 200 a month to their credit card total...

Like I said...find a dozen items that save ya 5 bucks a week and you have 3 grand at the end of the year...and ANYBODY can find 5 bucks on 12 items...

I suck at math, but $5 a week doesn't = $3K. Oh, you mean save $60 per week? OK, and then invest it? Sounds groovy, but nobody does that. Sure, they could probably find ways to cut $60 per week off what they spend (like cutting out their 2-pack a day ciggy habit), but 1 outta 1000 would actually invest it somewhere.

I'm not disagreeing with the principle of what you're saying, I'm just saying it's not realistic for 95% of the people - primarily because they will just absorb that extra money into their daily expenses/lifestyle.

The whole credit card debt thing I'm with you 100%. I charge ~$3-6K a month on the two cards I use but pay them off every month. Way too many of these folks are carrying CC interest, and when they do get their big return, they blow it rather than paying off a card with it - which is actually more beneficial to them than investing. If they can pay off a 21% CC with their tax return?? Hell, you can't get that kind of interest on any money you invest anywhere.

[pphilfran]

I suck at math, but $5 a week doesn't = $3K. Oh, you mean save $60 per week? OK, and then invest it? Sounds groovy, but nobody does that. Sure, they could probably find ways to cut $60 per week off what they spend (like cutting out their 2-pack a day ciggy habit), but 1 outta 1000 would actually invest it somewhere.

I'm not disagreeing with the principle of what you're saying, I'm just saying it's not realistic for 95% of the people - primarily because they will just absorb that extra money into their daily expenses/lifestyle.

The whole credit card debt thing I'm with you 100%. I charge ~$3-6K a month on the two cards I use but pay them off every month. Way too many of these folks are carrying CC interest, and when they do get their big return, they blow it rather than paying off a card with it - which is actually more beneficial to them than investing. If they can pay off a 21% CC with their tax return?? Hell, you can't get that kind of interest on any money you invest anywhere.

Yes, 12 items at 5 bucks each...

Maybe the reason we had so many home go under and why so many people live paycheck to paycheck is because 95% of the people live for today...

I am glad that I am in the 5%...

[C&CDean]

Yes, 12 items at 5 bucks each...

Maybe the reason we had so many home go under and why so many people live paycheck to paycheck is because 95% of the people live for today...

I am glad that I am in the 5%...

Agreed - although I think the reason so many homes go under is because people are just stupid. I guess that falls into the "live for today" group...

[pphilfran]

Agreed - although I think the reason so many homes go under is because people are just stupid. I guess that falls into the "live for today" group...

:D

[yermom]

What I think Phil/yermom are missing here is this small, but important little reality: How many people who end up = at the end of the year are actually investing their money and drawing interest on it? I'd wager the answer is: not very many.

To the average American, getting a tax return is like a bonus or something. Of course it's not, but you can do a lot more with $5K in one chunk than you can with bits and pieces here and there where you just spend it on your normal day-to-day stuff.

Of course, if you're disciplined enough to take whatever money you think you are screwing the gov out of investing and then invest it yourself - well then good on ya. This doesn't happen often. In reality, the whole "why should I let Uncle Sam invest my money" argument is true in base, but false in reality.

if you read my other posts, i'm saying it's not that big of a deal in the end, especially vs. other stupid stuff.

i was just stating the premise. you are giving money away if you pay extra in just to get a refund.

[PhiDeltBeers]

I pay myself with 1 check on Dec 31st every year and pay all my taxes on that one check. I just have my accountant tell me what to do. We typically gross anywhere from $600k to a mill on our business per year, so come Nov, I turn my books into my accountant and have him figure what my check needs to be and the amount of taxes I'll have to pay. I know this doesn't go for the majority of people who work in the world, but this is how I keep the money in my own possesion. I think I ended up getting like a grand back this year. Not bad figuring for having close to a mill go thru my accounts.

Now, all that being said, my wife primarily runs this business and I have my own career doing something else (working for the man). So we live off my income and the business is a hugh bonus for us. Since we only take the 1 check from the business at the end of the year, if we need to pull money from it (during the year), we do a distribution of funds.

[soonerbrat]

Nay. I pay yearly. And my income has gone up every year for the past 36 years, and so have my taxes. I have less "normal" deductions (the kids are grown and gone) but have the usual mortgage interest on my home and some land.

Without the farm deductions, I would be paying several thousand in addition to what I have deducted from my check. The farm deductions allow me to lower my income into the appropriate tax bracket to get a nice return. The amount of my deductions (and my return) vary from year to year depending on what I buy that particular year.

I typically spend somewhere between $40K and $90K per year on equipment. That won't continue forever as I pretty much have all the equipment I need now to run the farm. I am still shopping for a good back hoe, so I may buy one this year, and things like disk mowers wear out and have to be replaced every few years. My accountant depreciates all my equipment out so that I don't have to buy something every year - I'll have some relief from the depreciation.

Anyhow, enough of my personal story.

maybe I should plant a farm.