Topic: Why is leasing a car only a good idea if you are rich?

Anonymous A started this discussion 7 years ago #84,410

why, please

Anonymous B joined in and replied with this 7 years ago, 1 minute later[^] [v] #969,820

It's cheaper to get the bus!

Dead !Pool..v42s joined in and replied with this 7 years ago, 23 seconds later, 1 minute after the original post[^] [v] #969,821

If it doesn't come with an option to buy, it's like renting. Throwing your money into the system with no return.

Anonymous D joined in and replied with this 7 years ago, 4 minutes later, 5 minutes after the original post[^] [v] #969,824

@previous (Dead !Pool..v42s)

The return is driving a different car every few months, if you're into that sort of thing. I know a girl whose dad owns a used car lot, and his wife drives different cars from the lot all the time.

MR STEVEN MNUCHIN joined in and replied with this 7 years ago, 4 minutes later, 9 minutes after the original post[^] [v] #969,825

@969,821 (Dead !Pool..v42s)
Yes because cars are a very stable investment

Anonymous A (OP) replied with this 7 years ago, 3 minutes later, 13 minutes after the original post[^] [v] #969,826

@969,821 (Dead !Pool..v42s)
You can buy it at the end of the lease.

Dead !Pool..v42s replied with this 7 years ago, 4 minutes later, 17 minutes after the original post[^] [v] #969,827

@969,824 (D)
It's not practical though

@969,825 (MR STEVEN MNUCHIN)
If they're something that you are able to work on yourself, a d cut out a lot of the maintenance and upkeep costs, vehicles are a great investment, yes. I'm not saying to trade them like people trade real estate [which in my opinion only hurts the real estate market in the long run when done purely for profit] or invest in them like stocks or a thing similar.
Everything you do in life can be looked at in time/energy invested, and whatever quantified of return fits the situation. So yeah, owning a vehicle vs leasing a vehicle is generally a better investment.

Anonymous D replied with this 7 years ago, 56 seconds later, 18 minutes after the original post[^] [v] #969,828

@previous (Dead !Pool..v42s)

Didn't say it was.

Dead !Pool..v42s replied with this 7 years ago, 3 seconds later, 18 minutes after the original post[^] [v] #969,829

@969,826 (A)
That would be the only reason to lease a vehicle, and only not but if some catastrophic event happens to it or yourself.

(Edited 10 seconds later.)

Anonymous B replied with this 7 years ago, 23 seconds later, 19 minutes after the original post[^] [v] #969,830

@969,825 (MR STEVEN MNUCHIN)

Lol

Dead !Pool..v42s replied with this 7 years ago, 1 minute later, 20 minutes after the original post[^] [v] #969,831

@969,828 (D)
You described the return and that is what I'm saying is impractical so I feel it invalidates the return.

Anonymous F joined in and replied with this 7 years ago, 13 minutes later, 34 minutes after the original post[^] [v] #969,833

@969,825 (MR STEVEN MNUCHIN)
lol

MR STEVEN MNUCHIN replied with this 7 years ago, 4 minutes later, 39 minutes after the original post[^] [v] #969,834

@969,827 (Dead !Pool..v42s)

so they are a great investment in the sense that there is no way to make money from them. thanks.

Anonymous D replied with this 7 years ago, 1 minute later, 40 minutes after the original post[^] [v] #969,838

@previous (MR STEVEN MNUCHIN)

Unless you buy a fancy one, and keep it pristine for 50+ years.

MR STEVEN MNUCHIN replied with this 7 years ago, 3 minutes later, 44 minutes after the original post[^] [v] #969,840

@previous (D)
i dont follow expensive cars but they still go down in value right? unless its like super rare for some reason

Anonymous D replied with this 7 years ago, 2 minutes later, 46 minutes after the original post[^] [v] #969,842

@previous (MR STEVEN MNUCHIN)

As long as they are top of the line, or at least have a special package, you can make at least some money. The real money is in the old rare ones, tho.
That or buying junkers and restoring them yourself.

(Edited 1 minute later.)

Anonymous G joined in and replied with this 7 years ago, 30 minutes later, 1 hour after the original post[^] [v] #969,846

Leasing a car for your business is a good idea if you don't have cash flow, but need to give the impression that you do.

Minichan