NTers who lease their whips? Vol: new whip every 3 years

[Rootin4EverybodyBlack]

Saying if you lease a car you won't become wealthy is like saying "if you eat out often, you won't be wealthy" "if you buy expensive sneakers you won't be wealthy" " if you buy liquor, you won't be wealthy "

You can name an endless amount of unnecessary expenses that can impact your wealth, but unless you're somebody's accountant it's silly to say a 300/month lease is what's gonna keep you from being wealthy. Cars (generally) don't appreciate in value so its not like once you own it you can sell it for anything close to what you paid for it.

But if you're one of those clowns who thinks they can cheap their way into being wealthy go ahead ole "I don't leave tips because it'll hurt my future wealth" type clowns.

 

[nikehead]

Wealth isn't about having a bunch coming in, but having less going out.

I am sorry but your wrong about this, wealth is about having tangible assets it has nothing to do with what your talking about

And I am sorry to break it to you, but your not going to get wealthy by buying a pick up truck and renting it out to people moving on the weekends, you might make some money but nothing life changing

 

[am1x90xnike]

Broke...but broke for a reason, unlike most. Sit down with legit millionaires all the time. This isn't coming from me. Dude donated a 4 million dollar courtroom to our school. I asked him how he did it, he said 'the right case, the right mentality' he suggested a couple books, which I read, and comes in every once and a while.

Every person I've met, in the tax bracket I want to be in, has told me, try to stay away from the superfluous... Figure out a way to pay out significantly less than you have coming in. Keep your liabilities down and don't be afraid of the market.

Of course, trying to tell people how to spend their money is an exercise in narcism and futility, do y'all, don't make me no never mind. Just don't want to hear about inflation, jobs, stock market crashing etc. from anyone who leases.


Never advocated buying shoes every week. I despise grown men living at home. Ownership = freedom. And if renting out to people moving on the weekend is the only use you can get out of a pick up truck, then you're not creative enough, I used it as an example, but pick up trucks = money.

Wealth isn't about current actions, but rather mentality. If you're hungry and creative eventually you'll be wealthy ie (baseline) quit your job tomorrow a d no one notices for the next ten years at least. Ie being able to live your lifestyle without working for ten years, that'll be hard if you lease.

 

[heliumclinton]

anyone who leases will never be wealthy. Which is cool, wealth is not for .

People really just say anything here

 

[dwalk31]

People buy leases to stunt? Lol the things people post...

 

[nikehead]

Every person I've met, in the tax bracket I want to be in, has told me, try to stay away from the superfluous... Figure out a way to pay out significantly less than you have coming in. Keep your liabilities down and don't be afraid of the market.
 

Yes this stuff is absolutely true to preservation but at the same time to become wealthy you must have tangible assets and many of them

Money is essential worthless and it is just medium to gain tangible assets, so having lots of money sitting around is useless and unproductive and will never make you wealth only rich

Remember to Golden Rule: "The man with all the gold, makes all the rules"

 

[heliumclinton]

People buy leases to stunt? Lol the things people post...

I'm saying, leasing a Accord/Impala/Maxima is stunting? the comic relief

 

[am1x90xnike]

Exactly, leasing a car is not a tangible asset. Renting anything is not an asset. Whether that asset is your stamp collection, your car, your home etc. it only counts if you own it or you are using it as capital. Businesses are assets, which is what we need to be trying to get. Land is an asset.

 

[nikehead]

Exactly, leasing a car is not a tangible asset. Renting anything is not an asset. Whether that asset is your stamp collection, your car, your home etc. it only counts if you own it or you are using it as capital. Businesses are assets, which is what we need to be trying to get. Land is an asset.

Yes absolutely, but not every business is an asset, some become liabilities but land is a premium asset because it is a limited resource as some metals claim to be

 

[dwalk31]

You do realize that your 6500 hoopty isn't an asset either? Also, when you have an expensive, unexpected repair, you'll understand why people enjoy the peace of mind that a lease offers. I agree that the smartest way to buy is to buy cash a model or two old. Most people simply cannot afford that, so leasing is better than buying new in my opinion.

 

[SneakerProSr.]

One of them smart dumb ******

 

[nikehead]

You do realize that your 6500 hoopty isn't an asset either? Also, when you have an expensive, unexpected repair, you'll understand why people enjoy the peace of mind that a lease offers. I agree that the smartest way to buy is to buy cash a model or two old. Most people simply cannot afford that, so leasing is better than buying new in my opinion.

Absolutely, all cars are a liability with some exceptions but daily driver vehicles are liabilities not assets 

 

[dwalk31]

Absolutely, all cars are a liability with some exceptions but daily driver vehicles are liabilities not assets 

Lol so you agree? Now I'm confused

 

[nikehead]

 

Absolutely, all cars are a liability with some exceptions but daily driver vehicles are liabilities not assets 

Lol so you agree? Now I'm confused

yeah I never said a car was a asset, they are liabilities

 

[keko jones]

What you call financial judgement I call play money, honestly. The reason I lease has nothing to do with money. If you're bored you rather sell your car for less money then you purchased it for, I rather bring it back to the dealer and walk out with a new one. It's just called having different wants and necessities.

but we arent talking about ur situation. We were talking about the chevy impala for 400 dollar lease.

Anyway ... glad to know this is play money for u but for others here its not. In regards to your comment .., because of my financial judment I was able to be independent since 16 and aquired my wealth without my father/mother. I believe both are interchangeable.

Anyways ....

 

[am1x90xnike]

Some assets are assets because of functionality. I turned down some good job offers to go back to school So my hoopty(and it is, no denying that) keeps me from having a car payment and provides me reliable transport.

As stated, I had a thousand dollar unexpected bill...sucked but actually (surprisingly) had the cake to pay. I also missed payments a while back and the took it, had to come up with all the bread in ten days...sucked.

I've spent my entire life around people who were horrid with money/never had much, I'm learning this from school, experience and advice from those who made it. I'm not into cars, but I would like a few nice ones. Ain't going to get there making bad investments.

 

[heliumclinton]

In regards to your comment .., because of my financial judment I was able to be independent since 16 and aquired my wealth without my father/mother. I believe both are interchangeable..

I don't see the relevance but good for you I guess

 

[Rootin4EverybodyBlack]

So you're still paying on a 6500 car that you just had to drop a stack on to repair that's probably only really worth 4k and you're giving financial advice about becoming wealthy?

....aight bro

 

[seasoned vet]

Boy boy boy ... I don't understand some people .... $400 a month for a lease car that MSRP is 30k that for about $500 you can own it? Doesn't make any sense to me.

the main thing people never factor in own v. lease topics is people are doing want they want to do.

i purposely posted my lease agreement knowing full well someone would take the bait and chime in with how much it doesnt make sense.

cool.
great.
it dont make sense....to YOU.

oh and ftr, the msrp is 34K after i added in my upgrades plus i turned in my last lease a little early. so that payment should be a little less than $400

it all depends on the situation

ive played the 'own' game before

had a brand new Monte Carlo in '03
computer went out right before my warranty expired so i sold it in '06

wife wanted a SUV
copped an Aviator with the money from the MC

scared to see a repair bill for that Lincoln so i sold it right after the warranty was up

it took me 11 months of keeping it extra clean/detailed
mileage low
keeping it posted in the paper and on Auto Trader (which costs money)
....WITH a 2 year old in the backseat

thanks
but no thank you

when i finally sold that Aviator i said never again

as stated
for me? i wouldnt lease

i lease to keep my wife and son in something comfortable and new
i drive a bucket

 

[keko jones]

Lol I'm not trying to argue with some of you. What im simply saying is that leasing is not for everyone. If you are rich yes ... if you are comfortable meaning that 800 - 1000 a month is nothing yes but if realistically speaking you can only afford a honda but instead lease a Benz then no .. leasing is not for you.

Some cat here are making questionable financial decisions. I cant see how 30-40 percent of your income is tide up to a vehicle. That's IMHO is dumb.

in addition dudea knocking 300 bucks a month as not going to be wealthy are pretty ignorant. Plenty of opportunities for a young man to constantly flip 300 a month. Just take dedication.

 

[nikehead]

Look the leasing vs. buying argument is ultimately up to the individual the pros and cons are well known

Some assets are assets because of functionality. I turned down some good job offers to go back to school So my hoopty(and it is, no denying that) keeps me from having a car payment and provides me reliable transport.
 

Yes essentially cars are liabilities because they cost money to operate on a daily basis, but the functionality of it providing you with opportunity to earn income ultimately out weighs the liability that ownership/lease/rental becomes beneficial to the individual

But of course this not true for every individual in every region because of many circumstances  

 

[am1x90xnike]

So you're still paying on a 6500 car that you just had to drop a stack on to repair that's probably only really worth 4k and you're giving financial advice about becoming wealthy?

....aight bro

No. My car is paid off. Haven't had a car payment for over a year now. Paying $54 for liability insurance, risky but I'm
broke. My cars probably $4 stacks with another stack for the rims. I overpaid, but it was my first car buying w/o even telling my father, so it's to be expected. My car cost $5500, after that repair cost it was $6500.

 

[heliumclinton]

So you're still paying on a 6500 car that you just had to drop a stack on to repair that's probably only really worth 4k and you're giving financial advice about becoming wealthy?

....aight bro

No. My car is paid off. Haven't had a car payment for over a year now. Paying $54 for liability insurance, risky but I'm
broke. My cars probably $4 stacks with another stack for the rims. I overpaid, but it was my first car buying w/o even telling my father, so it's to be expected. My car cost $5500, after that repair cost it was $6500.

So what do you do with the money that use to be for your car payment to make you more wealthy? Help us out bro

 

[Rootin4EverybodyBlack]

No. My car is paid off. Haven't had a car payment for over a year now. Paying $54 for liability insurance, risky but I'm
broke. My cars probably $4 stacks with another stack for the rims. I overpaid, but it was my first car buying w/o even telling my father, so it's to be expected. My car cost $5500, after that repair cost it was $6500.

But you could've taken that 1k for the rims and flipped it into something else. You'll never be wealthy if you buy rims! *using your logic*

And Keko I realize 300a month adds up but even if you buy a car you're STILL gonna have expenses once its paid off, probably around 150/month. Its not like you pay off a car then its a free ride except for gas and oil changes.

My dad paid off is his 07 TL in 2010 and I KNOW in the last four years he's spent more money on non-routine maintenance than the car is actually worth as of right now. I don't see how that's so much better of a financial decision than leasing a new car.

 

[hoosierdaddy317]

Wow just read through the past four pages and all I can say is wow lol. If any of you have car questions regarding leasing/financing please ask me and don't listen to these clowns. This is what I do for a living and I love helping others out !