You know what the best way to buy a car, purchase a used car that is let's say is 3 years old and has 30k miles and as I have done it is usually 40-50% less than the purchase price and if you are patient you can find a car that looks and runs as if it is a new car! So you can buy a luxury car that was 50-60K for 25-30k as a really nice used car!
I agree, but these interest rates are so much higher to do on a used car (was trying to get one coming off a lease). Some of the new ones are at almost 0 to 2.9% compared to a high 6-10% rate.
I am / was always a believer in buying vs. leasing . Buy it , pay it off , maintain it and keep it as long as possible !!! There's your savings !!! The older the vehicle gets the property tax and insurance goes down , lease vehicle , you're always paying high property tax cause the car is basically new . Business owner , lease all the way !!! I might be wrong , but what car / SUV are you buying @ $35k and in 3 years it's only worth $16k ? Great video and analogy .
The correct answer is do whatever you want to do. Do you want a new xar every few years? Lease one. Do you want to just buy a car and drive it into the ground? Buy one. I cant imagine ever buying another car again, leasing is the way to go.
NEVER, NEVER, NEVER ever lease a car unless it's for your business and so you get tax benefit. Private use, BUY IT. That's it. You OWN what you buy, and you just USE what you lease. That's it, again. Cheers!
@piledriverpotter9847 it's no different that owning a home. You'll always have a mortgage payment. It's very rare that anyone stays in a home long enough to complete a mortgage. National average for a home is 10 years, then you move. Some of us who use homes as a profit center live in them far less.
@@mattypantsadding to that the average person keeps their car for 3 to 4 years. At that point any car will lose its value. I have switched cars and paid significantly less than my roommate who only finances his cars cuz it’s better. I went through 2 brand new cars with less payment and I only pay fees and whatnot I put $0. He traded 2 cars in with negative equity. Obviously he still won’t listen to me but it’s his money.
I can't see the point in throwing money away on something you never own. Buy a banger and when something expensive goes wrong scrap it or sell it on. I would rather own a banger and have 50 grand in the bank than own or lease a 50 grand car.
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You know what the best way to buy a car, purchase a used car that is let's say is 3 years old and has 30k miles and as I have done it is usually 40-50% less than the purchase price and if you are patient you can find a car that looks and runs as if it is a new car! So you can buy a luxury car that was 50-60K for 25-30k as a really nice used car!
I agree, but these interest rates are so much higher to do on a used car (was trying to get one coming off a lease). Some of the new ones are at almost 0 to 2.9% compared to a high 6-10% rate.
Agreed. I was looking at certain new cars that came with 0% - which you’ll never find on used.
I am / was always a believer in buying vs. leasing . Buy it , pay it off , maintain it and keep it as long as possible !!! There's your savings !!! The older the vehicle gets the property tax and insurance goes down , lease vehicle , you're always paying high property tax cause the car is basically new . Business owner , lease all the way !!! I might be wrong , but what car / SUV are you buying @ $35k and in 3 years it's only worth $16k ? Great video and analogy .
So much great insight. Leasing feels cheaper but thinking only on a monthly budget is a broke mindset
Thanks!
The correct answer is do whatever you want to do. Do you want a new xar every few years? Lease one. Do you want to just buy a car and drive it into the ground? Buy one. I cant imagine ever buying another car again, leasing is the way to go.
NEVER, NEVER, NEVER ever lease a car unless it's for your business and so you get tax benefit. Private use, BUY IT. That's it. You OWN what you buy, and you just USE what you lease. That's it, again. Cheers!
Buying via Section 179 is certainly a viable option for purchasing too.
Leasing is the way to go. A car payment is like a mortgage, you'll always have one.
@@mattypants No it's like renting a home. You never own it.
@piledriverpotter9847 it's no different that owning a home. You'll always have a mortgage payment. It's very rare that anyone stays in a home long enough to complete a mortgage. National average for a home is 10 years, then you move. Some of us who use homes as a profit center live in them far less.
@@mattypantsadding to that the average person keeps their car for 3 to 4 years. At that point any car will lose its value. I have switched cars and paid significantly less than my roommate who only finances his cars cuz it’s better. I went through 2 brand new cars with less payment and I only pay fees and whatnot I put $0. He traded 2 cars in with negative equity. Obviously he still won’t listen to me but it’s his money.
thats a trick question. Due to inflation you won't be able to afford either. Good luck biking your dog to the vet visit, in the rain
😂😂
Good luck with your channel
I can't see the point in throwing money away on something you never own. Buy a banger and when something expensive goes wrong scrap it or sell it on. I would rather own a banger and have 50 grand in the bank than own or lease a 50 grand car.
If EV, probably lease is best.
new subbie here 😊
Thank you 🥺❤️