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Martrae wrote:Everyone who leases is stupid with their money. Then again anyone that buys new is, too, so there you have it.

You're trying to tell me it makes more financial sense to pay $30k for a new vehicle rather than $10k for a used one and maybe need to repair something that for sure won't add up to another $20k.

Look up the word lease in the dictionary and then return to this thread and admit you're a moron.

With her income (lol) she likely drives a 1985ish Aerostar that they bought for $150 down at Bob's Value Center anyways.

Yeah I don't even know why I bother arguing. Two totally different ballparks.

Yes, you mental giants have defeated me. I'll continue to save my money and you can piss yours down a lease or on payments.

I guess that means I lose.

I'm saying for 5k-6k a year I can have a new car every 2 years. Brand spanking new car. I don't have to worry about most repairs, I don't have to worry about shit other than maintenance (oil, tires, etc).

I can rag on the car all I want, etc. and have no worries.

Typically all I have to do is oil because tires don't go bad over 2 years (for most folks).

I can save money AND lease.

Does that mean I win?

I'm sorry you can't afford to piss yours away~ And it's still funny you don't know what you're talking about at all.

Martrae wrote:Yes, you mental giants have defeated me. I'll continue to save my money and you can piss yours down a lease or on payments.

I guess that means I lose.

When you can't make a valid comeback or even make a bit of sense, just make something up and you'll be correct in Martrae World.

No, just none of you gentlemen truly understand personal finances so I gave up.

I understand perfectly.

Oh please don't give up now. Not when you're bringing so much to this conversation.

Well, if you REALLY want to save money, you'll buy a $150 beater every 6 months or however often they die BUT if you are going to be spending $300+ a month on a car anyways, why not drive a new one every 2-3 years? I can see the benefit to both buying and leasing.

Martrae wrote:No, just none of you gentlemen truly understand YOUR personal finances so I gave up.

I understand perfectly.

fixt your quote

Mart, you're not making much sense though and I'm not even trying to be mean or pick on you.

5k a year isn't all that much money, and even a used car could cost this much depending on the repairs needed for it on a per annum basis.

You have yet to explain why buying is better, you've not even qualified "buy", buy new, buy used, etc.

Personally I've had terrible luck with used cars and these are cars that were "certified". I would never buy a used car again.

Do you own a house in which you're paying off over time Martrae? Ever been living in an apartment? Unless you payed 250,000 upfront for your house, in your simplistic theoried mind, you are wasting money. If you've ever lived in an apartment for whatever ammount of time, in your own words, you're wasting money. The same goes for the car, it's not wasting money, it's putting something on a budget. Rather than riding a bike for a year in a half 10 miles up the road to work and back everyday, you buy a car and spend a year and three quarters paying it off. A few checks isn't a big deal. And if you do it the way Ezek said, you don't have to pay any interest at all.

Martrae wrote:No, just none of you gentlemen truly understand personal finances so I gave up.

I understand perfectly.

I have to disagree with you, and I think I do ok with personal finances.

Sometimes it does make sense to lease. Just like sometimes it makes sense to rent a house, versus buying one. It's very situational.

If you lease a car, you generally get lower payments and most places allow you to purchase the car if you choose at the end of your lease. Cars lose value, very very fast. Thus, buying a new car as an investment is a poor decision. However, for people who drive a lot, a newer car is needed for their travelling, commute, and

Likewise, most cars require more maintenance after a few years, something a lease owner won't have to worry about.

Sure, if you buy a car and drive it 15 years you'll save money over someone who leases it continuously, but also you'll be driving a 10+ year old car. The same is true if you are using a 386 right now for all your computer needs, but I doubt you are, and I won't accuse you of not having good personal finance skills if you aren't!

Jazendar wrote:Do you own a house in which you're paying off over time Martrae? Ever been living in an apartment? Unless you payed 250,000 upfront for your house, in your simplistic theoried mind, you are wasting money. If you've ever lived in an apartment for whatever ammount of time, in your own words, you're wasting money. The same goes for the car, it's not wasting money, it's putting something on a budget. Rather than riding a bike for a year in a half 10 miles up the road to work and back everyday, you buy a car and spend a year and three quarters paying it off. A few checks isn't a big deal. And if you do it the way Ezek said, you don't have to pay any interest at all.

No, she just gets the government to pay for what she can't afford.

I'm sorry if I find it hard to listen to someone tell people about finances when they have lived off Government help.

Jazendar wrote:Do you own a house in which you're paying off over time Martrae? Ever been living in an apartment? Unless you payed 250,000 upfront for your house, in your simplistic theoried mind, you are wasting money. If you've ever lived in an apartment for whatever ammount of time, in your own words, you're wasting money. The same goes for the car, it's not wasting money, it's putting something on a budget. Rather than riding a bike for a year in a half 10 miles up the road to work and back everyday, you buy a car and spend a year and three quarters paying it off. A few checks isn't a big deal. And if you do it the way Ezek said, you don't have to pay any interest at all.

A mortgage for a house & a loan for a car are two radically different things unless either a) your house is depreciating in value or b) your car is appreciating in value... rarely is either the case.

She was stating that it was better to eventually purchase a car vs lease it which is even more akin to saying that it is better to buy a house than rent one.

It all comes down to the tax breaks & what you are using your extra money for.

For each and every person, the situation is different. Personally, it was better financial sense for me to purchase my vehicle outright & use that as my big write off for the year. Then for the following years, I write off my mileage.

Whereas if I did not drive near as much as I did (30k miles a year approx, which results in a $14400 writeoff @ $.48 a mile), it might make more sense to use my maintenance, gas, & leasee costs instead.

It all depends on your particular situation though.

-Adam

I don't know what state you're in Mart or why you think leasing is so bad. I can understand leasing as being retarded if you are the type to want to keep a car for a longer period of time or if the rates are high in your specific state. Personally I don't want to keep a car more than 3 years and I have perfect credit. Leasing is great when those things fall in line. Lower monthly rates, hardly any maintenace fees, paying less monthly for a nicer car and getting an even better leasing rate towards another car when I'm done.

I'm interested in hearing why that is stupid and I'd like you to break down why it is. If I'm right, I'm right, if I'm wrong I'll be smarter than I was. Help me out here.

(30k miles a year approx, which results in a $14400 writeoff @ $.48 a mile)

Lucky bastard.

Martrae wrote:No, just none of you gentlemen truly understand personal finances so I gave up.

I understand perfectly.

"During the argument there is going to be a point when she is going to stop and change her game up. The minute she starts agreeing with everything you're fucking saying. Look out!"

My parents bought me a Kia Sportage and it's a great car. I can haul forty dead bodies in it if I want.

Jay wrote:I don't know what state you're in Mart or why you think leasing is so bad. I can understand leasing as being retarded if you are the type to want to keep a car for a longer period of time or if the rates are high in your specific state. Personally I don't want to keep a car more than 3 years and I have perfect credit. Leasing is great when those things fall in line. Lower monthly rates, hardly any maintenace fees, paying less monthly for a nicer car and getting an even better leasing rate towards another car when I'm done.

I'm interested in hearing why that is stupid and I'd like you to break down why it is. If I'm right, I'm right, if I'm wrong I'll be smarter than I was. Help me out here.

Buying is like putting money into a savings account that constantly loses value. But, in the end leasing does not build equity and buying does.

"A poor person wants to spend, spend, spend, and be a consumer. A rich person likes to be a consumer and spend money even more, but they refuse to do so until they have built a large amount of wealth. A rich person understands you will never get rich from your job (except celebrities), but you will use your job to get rich. This means that simply by working for someone else you will never build up wealth through your wages, but you can use those earned wages to invest, and those investments will make you rich."

Naethyn wrote:

Jay wrote:I don't know what state you're in Mart or why you think leasing is so bad. I can understand leasing as being retarded if you are the type to want to keep a car for a longer period of time or if the rates are high in your specific state. Personally I don't want to keep a car more than 3 years and I have perfect credit. Leasing is great when those things fall in line. Lower monthly rates, hardly any maintenace fees, paying less monthly for a nicer car and getting an even better leasing rate towards another car when I'm done.

I'm interested in hearing why that is stupid and I'd like you to break down why it is. If I'm right, I'm right, if I'm wrong I'll be smarter than I was. Help me out here.

Buying is like putting money into a savings account that constantly loses value. But, in the end leasing does not build equity and buying does.

"A poor person wants to spend, spend, spend, and be a consumer. A rich person likes to be a consumer and spend money even more, but they refuse to do so until they have built a large amount of wealth. A rich person understands you will never get rich from your job (except celebrities), but you will use your job to get rich. This means that simply by working for someone else you will never build up wealth through your wages, but you can use those earned wages to invest, and those investments will make you rich."

Equity in a car, no, I don't think so. You are very unlikely to sell a car for a profit I already spelled out why leasing is better than buying and 10sun pointed out that it is all a perspective thing, and I agree with that as well.

IMHO buying a car is a mistake across the board, I see no advantage for me in buying, every aspect of buying is more expensive for me, this is from my perspective.

Buying a car isn't a mistake if you keep it a long time, however, keeping a car for a long time really sucks.

Well that is why I said from my perspective. It is pretty much what 10son said, layout your criteria and make a decision against it.

- I want current technology
- I want a 300.00 or less monthly payment
- I want no worries of repair
- I want to drive the car like a dog or workhorse
- Must have space for 4 people and 3 retriever dogs
- Must be able to haul 30' travel trailer
etc

Both Gid and my credit is shit, so leasing wouldnt work for us, as our payments would be all sorts of jacked up. I'm working on getting his better before starting on mine, but its a slow process.
We are stuck, in the meantime, with buying used. While it isnt horrible, it still sucks. A lot of what we look at have low milage, which means they were either test drived cars or lease cars. That means they were run to the ground and lost all sparkly goodness in the engine.
As soon as Gid gets me his PoA, I'm going down to Big Bob's Bargain Barn (not really, but some small town used car center) and trying to trade in the Firebird and Neon for something that both runs and has AC.
So I know KIAs had a bad rep a while ago, and I think someone also said something about them earlier in the thread, but how are they now. They have a 2006 Sorento with like 19k miles...but if they are truely awful, I'll skip and buy the Escape with more miles.

Get your parents to cosign on a good new sedan so you have reliable transportation that isn't going to nickel and dime you to death.