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Originally Posted by Schpilky
Agreed; different strokes for diff folks. BUT, financing a car is also a financial disaster. Think about it; not only are you paying interest on the loan (which equates to a higher purchase price), but you are also paying a depreciation cost every year you own the vehicle. If you purchase the car without financing, you are only being hit by depreciation and aren't paying more for the car. And your argument about "owning a business" doesn't work most of the time. If you drive a ton of miles you'll exceed the limit set by the leasing company and you'll have to pay the difference. From a tax standpoint you'd be better off writing off the miles and any extra cost incurred. That's just my 2 cents.....  |
Like I said, leasing is not for everyone. If you drive a ton of miles, its stupid to lease.
Actually, buying a depreciating asset is always a bad financial move. But hey, we gotta drive to get some place.