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      06-01-2010, 10:29 PM   #66
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Drives: '06 325i and '13 X5
Join Date: Feb 2010
Location: Chicago Burbs

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Originally Posted by John 070 View Post
Do you realize there are people who think that way about refinancing a home? As long as the rate is lower, there is no right or wrong answer if you should refinance or not. This type of thinking made bankers very very rich from 1998 to 2006. It may sound hard to believe, but there were people on this forum boasting about all the money they were making flipping homes. Of course they are now like turtles hidden away in their shells.

What would you tell your son or daughter to do, who just finished college, 21 y.o., and got their first 60k job? Whatever you would tell them to do, buy or lease, is the right answer.
There are pros and cons for each method, so long as you know what the pros and cons are then buying or leasing will be the correct thing to do. If I had a 21 year old son or daughter I would tell them to buy used and I will teach them how to fix it when it breaks.