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I'm super conservative. So, I think a car shouldn't exceed more than 15% of your annual income.
Def not a bad way to do it
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I'm super conservative. So, I think a car shouldn't exceed more than 15% of your annual income.
IMO a vehicle should not exceed 20-25% of someones annual income, but I'm sure many will argue this. ... Especially on NT.
I'm super conservative. So, I think a car shouldn't exceed more than 15% of your annual income.
Car is not an asset homie.
Car is not an asset homie.
Son!
Yes it is. A depreciable asset. Meaning, it does not rise in value, but yes, it is an asset. Even in accounting, it goes on the books as an asset. But you wildin out, calling it a non asset.
Btw, why would a bank give you a loan on a non asset. Son! Too much logice, I am outs for real. But had to clear the air. haha
keep leasholding. luls
yes, basically your lowering the amount your paying for the car, thus lowering the lease payment by putting a down payment.
what I do is calculate totatl cost.. what is the cost if I do not put a downpayment..
what is the total cost if i do put a down payment.. if they are the same or negligable then dont put a down payment..
It's not an asset in your personal capacity.
A vehicle is an asset in a business, in which it is used to generate income (fleet management, rental cars, trucking etc).
A vehicle in your personal capacity helps you get around easier and depreciates in value, it does not make you money.
Car is not an asset homie.
Son!
Yes it is. A depreciable asset. Meaning, it does not rise in value, but yes, it is an asset. Even in accounting, it goes on the books as an asset. But you wildin out, calling it a non asset.
Btw, why would a bank give you a loan on a non asset. Son! Too much logice, I am outs for real. But had to clear the air. haha
keep leasholding. luls
It's not an asset in your personal capacity.
A vehicle is an asset in a business, in which it is used to generate income (fleet management, rental cars, trucking etc).
A vehicle in your personal capacity helps you get around easier and depreciates in value, it does not make you money.
Car is not an asset homie.
Son!
Yes it is. A depreciable asset. Meaning, it does not rise in value, but yes, it is an asset. Even in accounting, it goes on the books as an asset. But you wildin out, calling it a non asset.
Btw, why would a bank give you a loan on a non asset. Son! Too much logice, I am outs for real. But had to clear the air. haha
keep leasholding. luls
It's not an asset in your personal capacity.
A vehicle is an asset in a business, in which it is used to generate income (fleet management, rental cars, trucking etc).
A vehicle in your personal capacity helps you get around easier and depreciates in value, it does not make you money.
A car is an asset. Something does not have to make you money to be an asset. The house you live in is an asset.
That‘s like saying your home is not an asset, because it doesnt make you money. Banks own vehicles, but they do not use them to generate operational income.
Your definition is illogical and wrong. It is do not an asset if you do not own it. So for leasehold folks, those cars are NOT your assets!
Bottom line, how is something gonna depreciate if it aint an asset? So, yes, a car is an asset. Banks consider it an asset too.
There is nothing to argue about, if thats what you believe in. I called it a depreciable asset because it does not appreciate, basically, I am saying it is a waste to lease a car, because you are financing a car that you do bot own. Basically pay to play. Catch my drift now? But hey, its their money,.do whatever they want. Just find it amateurish to come here asking about how to lease a BMW. Obviously not in their capacity to own.
Your house makes you money on capital appreciation over time. A car (unless it's a limited edition Ferrari or classic) does not.
It's not an asset in your personal capacity.
A vehicle is an asset in a business, in which it is used to generate income (fleet management, rental cars, trucking etc).
A vehicle in your personal capacity helps you get around easier and depreciates in value, it does not make you money.
That‘s like saying your home is not an asset, because it doesnt make you money. Banks own vehicles, but they do not use them to generate operational income.
Your definition is illogical and wrong. It is do not an asset if you do not own it. So for leasehold folks, those cars are NOT your assets!
Bottom line, how is something gonna depreciate if it aint an asset? So, yes, a car is an asset. Banks consider it an asset too.
There is nothing to argue about, if thats what you believe in. I called it a depreciable asset because it does not appreciate, basically, I am saying it is a waste to lease a car, because you are financing a car that you do bot own. Basically pay to play. Catch my drift now? But hey, its their money,.do whatever they want. Just find it amateurish to come here asking about how to lease a BMW. Obviously not in their capacity to own.
you dont understand what an asset is..It's not an asset in your personal capacity.
A vehicle is an asset in a business, in which it is used to generate income (fleet management, rental cars, trucking etc).
A vehicle in your personal capacity helps you get around easier and depreciates in value, it does not make you money.
oh really? I guess I should let the bank know my house value should be higher because I paid more then its worth now..Your house makes you money on capital appreciation over time. A car (unless it's a limited edition Ferrari or classic) does not.
Car is not an asset homie.
Son!
Yes it is. A depreciable asset. Meaning, it does not rise in value, but yes, it is an asset. Even in accounting, it goes on the books as an asset. But you wildin out, calling it a non asset.
Btw, why would a bank give you a loan on a non asset. Son! Too much logice, I am outs for real. But had to clear the air. haha
keep leasholding. luls
It's not an asset in your personal capacity.
A vehicle is an asset in a business, in which it is used to generate income (fleet management, rental cars, trucking etc).
A vehicle in your personal capacity helps you get around easier and depreciates in value, it does not make you money.
A car is an asset. Something does not have to make you money to be an asset. The house you live in is an asset.
Your house makes you money on capital appreciation over time. A car (unless it's a limited edition Ferrari or classic) does not.
Your house makes you money on capital appreciation over time. A car (unless it's a limited edition Ferrari or classic) does not.
oh really? I guess I should let the bank know my house value should be higher because I paid more then its worth now..
Have you been asleep the last 6 or 7 years with the housing market crash?
An asset does not simple appreciate or depreciate.. so your telling me Stocks someone own in a company is NOT an asset?
...
Car is not an asset homie.
A car is an asset. Something does not have to make you money to be an asset. The house you live in is an asset.
Your house makes you money on capital appreciation over time. A car (unless it's a limited edition Ferrari or classic) does not.
You can't just go around making up your own definition for words. An asset is anything that has value. Sneakers are an asset. Clothes are an asset.
I think you are mixing up the word asset with investment.
Wait OP, why don't you just buy a used vehicle?
Because I want a BMW m235i xDrive
I've decided on a specific car I want not another new or used car
Because he doesn't want too
If you don't own it, then it's not your asset
@ a car being an asset.
If you don't own it, then it's not your asset
If thats true then a house isnt an asset because you dont own it..If you don't own it, then it's not your asset
ugh.. by your first sentence then a home is not an asset because you dont own it..Although in the property cycle your house values maybe sitting in a trough, your house value will increase over time (unless you're stuck somewhere like Detroit).
The reason I'm saying it's not an asset, is because you're still financing the car, which means technically you don't own it (the bank does).
Indeed, maybe you're right, I look at assets from a property development perspective.... firstly as income generating, secondly as something that appreciates in value over time.