we dont learn this stuff like we should in school. And it's pretty important stuff but they dont teach us these life lessons. But Calculus is required to take
I have seen this discussion come up a couple times this year. I hope the school system gets reformed very soon and they teach our kids lessons like this that they can use as adults. Not everyone has parents to teach them things like this. Learning this stuff on your own is tasking. Teach the kids about credit scores and managing it, how to buy a house, a car, rent an apartment, etc.
i wish they taught stuff like this or how to do taxes or how credit works in school. but hey, I'm glad I know how to find "x" on a fukin math equation!
Leasing or buying brand new is for people who fall for scams, which is 90% of Americans. Leasing may be good for businesses, though. The rest of us (the smarter 10%) buy 2-3 year old cars for at least 50% down (but hopefully paid in full) and no more than 2 year financing. Leasing to consumers only makes the car dealers and manufacturers more money...that's why they push it, even to their own mothers. If you cannot afford to buy a 2-3 year old car with 50% down and no more than 2 year financing, you can't afford the car so you must start looking at older cars with lower sticker prices. It's that simple. But in reality, everyone wants to be a movie star and drive a brand new car. That's why everyone in America is in debt and living paycheck to paycheck or on the verge of bankruptcy. America, country of fools, and this guy is their leader.
The federal government mandates the residual value not the manufacturer. Honda or any car maker isn't taking the risk. LOL. Nice way to spin it though.
Here's another totally unbiased explanation of leasing. Not. "Turn your car into an expense." Translation: "Accept that you are going to be paying us on a monthly basis for the rest of your life." Be wise, folks. Dealers push leases this hard because it's good for THEM, not for necessarily for you. He wants to make having a car payment as "normal" as having a power bill or phone bill? Do you see what he's doing here? Falling for this will keep people broke for life.
I lease a 2019 honda accord touring 2.ot and they told me that end of my lease have to pay disposition fee and no two years service like oil change and tires rotation and they also insist for down-payment
Howdy, my salesman told me if I drive over 36000 miles limit ,he can get me a new lease before 36 months and I don't have to pay penalty. Does it mean that he will add the monthly payments that I still owe to the new lease? Which means that my new lease car monthly payment will be much higher than my current payment if I get the exact same car,right? Also, is Money Factor dependent on my FICO score or setup by dealership? Can I negotiate for lower Money Factor if I want to do a 1 payment lease for my new lease?
First, you have to understand that salesmen are big liars. If you listen what he says, and you go back to the dealer after driving 36k miles over your limit, the dealer manager will tell you that the sales guy who you spoke with a while ago does not work there anymore. Verbal contracts means sht to dealers cause they will tell you anything to sell. My advise: Do not listen and dont drive OVER your miles permitted.
+Yen Yen Ng It depends how good you can be while you are negotiating and if the dealer is doing whatever to sell. Yes, you may pay little more to have more miles.
The maintenance question seemed to be skirted. Well ever heard of murphy's law? What if I lease a brand new Honda and a part is defective. How exactly does the maintenance minder work exactly. Say the alternator just goes cabluey or perhaps the electric window stops working or the electric door locks stop working. Stupid things in cars these days but how is that handled - Who pays for the repair. I mean slamming car doors should not cause window and lock failures but it does. I have seen lots of new products fail in the first 3 years but how is that handled in the maintenance minder???
This sounds like a good way to go if you would have the money to buy a car out right then leasing sounds like a better deal but you really have to have good job security as you would anyway buing a new car up front. I like to just buy a $2,000 dollar car & drive it until it becomes junk because I get stopped by the police too much driving my whole life with no license. So, I wouldn't be able to lease a car anyway.
i feel like leasing a car is just throwing your money out..... am I right? Because what I do is (while this may not be for everyone, i get it).... I like to buy my car. Pay it off in 5 years then own it for 10 years (or more) and buy a new car when I really need to. For instance I buy my Honda CR-V 2003, pay it off it 5 years. By 2008 I own the vehicle and by 2018... problems are going to happen. Very minimal with Honda. At this point, I rather buy another... cause I know with Honda they are reliable for the total of 15 years. Is this worth it? Because during that 15 years I can set aside money for the new car until I will really need the car.
I like to use my car for 15 year benchmark, then move on to another vehicle - i really needed to. During the 15 years I can save up for another AND pay off other bills, debts. I know i just repeated myself but I feel like this is a smarter choice. Leasing is smart too.... especially for those who are businessmen traveling....
U can be paying your car off then the day after that last payment the car goes out on ya now its fully yours and you’re fucked!! Ive seen it happen before!! 😂😂
That is wrong. A car is indeed an asset. It has value. Over time that value decreases. The liability associated with a car would be the loan or lease agreement. A person would be correct in viewing a car as a net asset, if its value is greater than the associated loan, or a net liability, if the loan is greater than the value. Costs to maintain a car are expenses.
@@jerrylundegaard2592 if it's not making you money it's a Liability. People also believe a home you live in is an asset also not the case if it's taking money and your not making income from it it's a liability that's the difference. A 2nd home that you rent out for money is an asset or a car you rent to someone for money regularly would become an asset. Let put it this way if you don't pay for the vehicle you are still ""LIABLE"" there is the magic word for it. If you own it and only then it becomes a depreciating asset.
Rke, please stop making a yourself the fool. As an accountant, I fell as if I am dueling with an unarmed child. It is not a requirement, an asset "makes you money"! Take a moment and check a basic accounting check book. A house is most assuredly an asset. Of course it costs money to own home. Things like insurance, heat, etc. Those, my poorly educated friend, are expenses. About cars! Let's put it this way. Again. A car is an asset. A car loan is a liability. A car would be a net asset (has a positive net value) if the value of the vehicle is more than the applicable loan. How many times does this need to be explained before you grasp this simple accounting concept? Whether a person pays off an automobile loan has no impact on the value of the car, the asset. You also fail to understand the concept of depreciating an asset. Technically, the value of an asset is not the same as the depreciated value. Let's put it this way, again. A car loses value every year. That loss is dependent on a variety of things. Things such as the market for used cars, the condition of the car, etc. The rate the car loses value is not a fixed percentage. It is variable. Now take a seat and learn. Depreciation is an accounting concept, once again something you seem to be completely ignorant about. Depreciation attempts to spread the cost of an asset, the car in this case, over its anticipated useful life. This, unlike actual value, is generally a fixed percentage At any time, the actual value of an asset may be more or may be less than the depreciated value. A 2nd home used to earn money is both an investment and an asset. It is an investment because it brings in money. It is an asset because it has value.
What if I lease a 2015 car on a 3 year lease contract and then a 2016 comes out with brand new technology for the same price or maybe a little more, can I trade in my car just after a year?
3 mins into the video, and this guy is full of crap. LOL He's made so many wrong statements in the first 3 mins of talking I can't stand to watch the rest.
![HIWWHEE | OHM [Official MV]](http://i.ytimg.com/vi/OJJLtTLqLag/mqdefault.jpg)
Came for the info, stayed for the rack. 10/10
Great video, very knowledgeable and genuine. This was exactly what me and my family was looking for great job.
we dont learn this stuff like we should in school. And it's pretty important stuff but they dont teach us these life lessons. But Calculus is required to take
I have seen this discussion come up a couple times this year. I hope the school system gets reformed very soon and they teach our kids lessons like this that they can use as adults. Not everyone has parents to teach them things like this. Learning this stuff on your own is tasking. Teach the kids about credit scores and managing it, how to buy a house, a car, rent an apartment, etc.
i wish they taught stuff like this or how to do taxes or how credit works in school. but hey, I'm glad I know how to find "x" on a fukin math equation!
Or black history
Very interesting. Im in Ireland but this has given me a much clearer idea of how i wish to purchase my next vehicle. Thank you
Veeeery informative! I have watches several videos on leases, and this has been on of the most complete so far. Good job!
Seems to be to nice and honest of a man to be a car salesman !
Good information.
Winks
Lisa
Great video. I really want to lease a 2016 EX-L V6.
Versatile1983 I wanna lease a Dodge Challenger R/T or one with a V8. but dnt know how to get it
same well V6
Leasing or buying brand new is for people who fall for scams, which is 90% of Americans. Leasing may be good for businesses, though. The rest of us (the smarter 10%) buy 2-3 year old cars for at least 50% down (but hopefully paid in full) and no more than 2 year financing. Leasing to consumers only makes the car dealers and manufacturers more money...that's why they push it, even to their own mothers. If you cannot afford to buy a 2-3 year old car with 50% down and no more than 2 year financing, you can't afford the car so you must start looking at older cars with lower sticker prices. It's that simple. But in reality, everyone wants to be a movie star and drive a brand new car. That's why everyone in America is in debt and living paycheck to paycheck or on the verge of bankruptcy. America, country of fools, and this guy is their leader.
Great info.. I'm thinking about leasing a Lexus.. just scare that the benefits will no be the same!
The federal government mandates the residual value not the manufacturer. Honda or any car maker isn't taking the risk. LOL. Nice way to spin it though.
Here's another totally unbiased explanation of leasing. Not. "Turn your car into an expense." Translation: "Accept that you are going to be paying us on a monthly basis for the rest of your life." Be wise, folks. Dealers push leases this hard because it's good for THEM, not for necessarily for you. He wants to make having a car payment as "normal" as having a power bill or phone bill? Do you see what he's doing here? Falling for this will keep people broke for life.
can I lease a Dodge Challenger for 0 down. if it costs 35k and if u cant get a 0down how much would I be paying.
Great video - learned a lot!
just wow!well, then, i go for lease.had a test drive on 2014 sedan today wooooh!
I lease a 2019 honda accord touring 2.ot and they told me that end of my lease have to pay disposition fee and no two years service like oil change and tires rotation and they also insist for down-payment
Can I lease this woman for 36 months? Zero down, of course.
She could use a bigger rack!
toddpf if she fixed her teeth I would
Howdy, my salesman told me if I drive over 36000 miles limit ,he can get me a new lease before 36 months and I don't have to pay penalty. Does it mean that he will add the monthly payments that I still owe to the new lease? Which means that my new lease car monthly payment will be much higher than my current payment if I get the exact same car,right? Also, is Money Factor dependent on my FICO score or setup by dealership? Can I negotiate for lower Money Factor if I want to do a 1 payment lease for my new lease?
First, you have to understand that salesmen are big liars. If you listen what he says, and you go back to the dealer after driving 36k miles over your limit, the dealer manager will tell you that the sales guy who you spoke with a while ago does not work there anymore. Verbal contracts means sht to dealers cause they will tell you anything to sell. My advise: Do not listen and dont drive OVER your miles permitted.
Thanks for your advice. If I want my next lease to have 39K or 42K miles,will I be paying more for higher mileage limit?
+Yen Yen Ng It depends how good you can be while you are negotiating and if the dealer is doing whatever to sell. Yes, you may pay little more to have more miles.
Thanks so much. I will be much smarter for my next lease.
Yen Yen Ng wiggle wiggle wiggle butt wiggle wiggle wiggle Wilson Facebook William Thornton Facebook
The maintenance question seemed to be skirted. Well ever heard of murphy's law?
What if I lease a brand new Honda and a part is defective. How exactly does the maintenance minder work exactly. Say the alternator just goes cabluey or perhaps the electric window stops working or the electric door locks stop working. Stupid things in cars these days but how is that handled - Who pays for the repair. I mean slamming car doors should not cause window and lock failures but it does. I have seen lots of new products fail in the first 3 years but how is that handled in the maintenance minder???
Outstanding.
Do I need to get full coverage or liability for the insurance
What if I only use 12,000 miles of the allotted 36,00 miles?
I know this was 2 years ago. But you can take a roadtrip to Cali or Florida / Canada and run up your miles lol.
If a want to buy an honda accord, and pay a leasing deal for 2 years, could i buy the rest of the car after the end of the deal?
Man this was helpful
A very healthy young woman.
This sounds like a good way to go if you would have the money to buy a car out right then leasing sounds like a better deal but you really have to have good job security as you would anyway buing a new car up front. I like to just buy a $2,000 dollar car & drive it until it becomes junk because I get stopped by the police too much driving my whole life with no license. So, I wouldn't be able to lease a car anyway.
i feel like leasing a car is just throwing your money out..... am I right? Because what I do is (while this may not be for everyone, i get it).... I like to buy my car. Pay it off in 5 years then own it for 10 years (or more) and buy a new car when I really need to. For instance I buy my Honda CR-V 2003, pay it off it 5 years. By 2008 I own the vehicle and by 2018... problems are going to happen. Very minimal with Honda. At this point, I rather buy another... cause I know with Honda they are reliable for the total of 15 years. Is this worth it? Because during that 15 years I can set aside money for the new car until I will really need the car.
I like to use my car for 15 year benchmark, then move on to another vehicle - i really needed to. During the 15 years I can save up for another AND pay off other bills, debts. I know i just repeated myself but I feel like this is a smarter choice. Leasing is smart too.... especially for those who are businessmen traveling....
You can also finance it after If you decide you like it. So its financing but trying it out first
+lex luther make sure those first few years you lease it that money is accounted for
U can be paying your car off then the day after that last payment the car goes out on ya now its fully yours and you’re fucked!! Ive seen it happen before!! 😂😂
First mistake cars are not a depreciating asset they are a liability.
That is wrong.
A car is indeed an asset. It has value. Over time that value decreases.
The liability associated with a car would be the loan or lease agreement.
A person would be correct in viewing a car as a net asset, if its value is greater than the associated loan, or a net liability, if the loan is greater than the value.
Costs to maintain a car are expenses.
@@jerrylundegaard2592 if it's not making you money it's a Liability. People also believe a home you live in is an asset also not the case if it's taking money and your not making income from it it's a liability that's the difference. A 2nd home that you rent out for money is an asset or a car you rent to someone for money regularly would become an asset. Let put it this way if you don't pay for the vehicle you are still ""LIABLE"" there is the magic word for it. If you own it and only then it becomes a depreciating asset.
Rke, please stop making a yourself the fool. As an accountant, I fell as if I am dueling with an unarmed child.
It is not a requirement, an asset "makes you money"! Take a moment and check a basic accounting check book.
A house is most assuredly an asset. Of course it costs money to own home. Things like insurance, heat, etc. Those, my poorly educated friend, are expenses.
About cars! Let's put it this way. Again.
A car is an asset. A car loan is a liability. A car would be a net asset (has a positive net value) if the value of the vehicle is more than the applicable loan. How many times does this need to be explained before you grasp this simple accounting concept?
Whether a person pays off an automobile loan has no impact on the value of the car, the asset.
You also fail to understand the concept of depreciating an asset. Technically, the value of an asset is not the same as the depreciated value. Let's put it this way, again.
A car loses value every year. That loss is dependent on a variety of things. Things such as the market for used cars, the condition of the car, etc. The rate the car loses value is not a fixed percentage. It is variable.
Now take a seat and learn.
Depreciation is an accounting concept, once again something you seem to be completely ignorant about. Depreciation attempts to spread the cost of an asset, the car in this case, over its anticipated useful life. This, unlike actual value, is generally a fixed percentage
At any time, the actual value of an asset may be more or may be less than the depreciated value.
A 2nd home used to earn money is both an investment and an asset. It is an investment because it brings in money. It is an asset because it has value.
@@jerrylundegaard2592 you should probably read rich dad poor dad by Robert Kiyosaki.
th-cam.com/video/SS_xCm2x7_E/w-d-xo.html
What if I lease a 2015 car on a 3 year lease contract and then a 2016 comes out with brand new technology for the same price or maybe a little more, can I trade in my car just after a year?
You'd take big hit. you're stuck in the lease till about the end.
Your gonna have to pay the cost to opt out
Toyota pays for all the maintenance for the first 36,000 miles. I think I'll pick a toyota.
36.000 Miles toyota for how many years? Honda 12,000 miles a year for 3 years is 36.000 miles haha ?
24 Months
Car fleecing
Only lease for less than 36 months.
I’m in love with her. I love business women!
He's been fleecing his on Mum for years!
This guy must be selling Nissans.
3 mins into the video, and this guy is full of crap. LOL He's made so many wrong statements in the first 3 mins of talking I can't stand to watch the rest.
leasing is the WORST deal you can do.
working shlub then how would u get a car?
Why do you say that? Be more informative
LYING THROUGH HIS TEETH
horrible