Quote:
Originally posted by kaisen
Leasing obviously has its misconceptions.
Had you leased a Suburban three years ago you would be ecstatic that GMAC were 'buying' your Sub today for $25K. If you were 3 years into a 5 year loan (with higher payments), you would owe the same $25K, but with no guaranteed buyer and a $20K market value. It would cost you $5000 more for the pleasure of being able to say I 'owned' it.
If you wanted to keep your new car forever, it still might be cheaper to lease. Most states have different tax language for leasing that defers tax on the residual until the end of the lease, and some even tax based on 'use' that allows you to pay tax each month, skipping the interest charges of 'carrying' tax. In any case, the tax can be a benefit.
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Hmm, how much did the buyer have to pay at the front of the lease? Cap reduction, I think its called? Or some other BS line he sales guy fed the buyer. So when they buy the Sub they are 5k upside down in 3 yrs, but when they "fleece" it they have to kick in 4k-5k in the front.
And tax benefits? Another BS line the banks have fed people for decades. How much interest have the buyers sent the bank to keep from sending money to Uncle Sam? If people would look it up, they would realize its
way skewed toward the banks favor. The banks have people all over the country saying..."Ha ha, I wrote off on my taxes $3200 dollars in intrest. That put my's taxable income down an' I saved $800 in taxes. I are a tax gene-ous"
Quote:
Originally posted by kaisen
Give me almost any scenario on a new car, and I can tell you why leasing may be better, certainly no worse, than buying one.
E
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Sounds like you either work for a bank, a dealer, or a fleecing company. That or you have ate the porridge and drank the kool-aid.
People who buy/fleece a new car every 3 years are making poor choices. Look at the deal Bid Ed quotes. He has a great car at a fraction of the cost of new. Smart move!