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Thoughts on buying a car?
Posted on 5/22/17 at 9:43 am
Posted on 5/22/17 at 9:43 am
I'm not in the market for a vehicle; I just wanted to gather the board's thoughts and opinions on buying/leasing vehicles.
1.) Thoughts on buying a new vehicle?
2.) Thoughts on buying a used vehicle (from a dealership or private seller)?
3.) Thoughts on leasing a vehicle for personal use?
4.) Thoughts on leasing a vehicle for business use?
1.) Thoughts on buying a new vehicle?
2.) Thoughts on buying a used vehicle (from a dealership or private seller)?
3.) Thoughts on leasing a vehicle for personal use?
4.) Thoughts on leasing a vehicle for business use?
This post was edited on 5/22/17 at 9:44 am
3
Posted on 5/22/17 at 9:52 am to Forkbeard3777
quote:
1.) Thoughts on buying a new vehicle?
Not financially efficient but if you have the money to waste and want the car then go for it.
quote:
2.) Thoughts on buying a used vehicle (from a dealership or private seller)?
Financially efficient
quote:
3.) Thoughts on leasing a vehicle for personal use?
I think it's a bad idea for most people most of the time. If you're in the sort of wealth bracket where you'd be looking at six figure cars, then I think it's worth considering.
quote:
4.) Thoughts on leasing a vehicle for business use?
Depends alot of the kind of vehicle and kind of business etc. Similar to personal use, I'd say for most businesses most of the time it's not worth it but in certain circumstances it's worth considering.
Posted on 5/23/17 at 9:22 am to Forkbeard3777
quote:
1.) Thoughts on buying a new vehicle?
Never. It depreciates immediately.
quote:
2.) Thoughts on buying a used vehicle (from a dealership or private seller)?
This is the way I go. I prefer going through a private seller, to be honest. The dealership will rip you off on your trade in value. Have the car checked out by a honest mechanic and pay in full.
quote:
3.) Thoughts on leasing a vehicle for personal use?
Never. Why make monthly payments that doesn't go to something? Also, I believe dealerships put stringent mileage requirements on leased vehicles (ex: 10,000 miles a year).
quote:
4.) Thoughts on leasing a vehicle for business use?
If you get some tax write-off, maybe. Then again, why not just buy a used version of the vehicle and own it? I'm sure you can still write it off as a business expense.
Posted on 5/23/17 at 10:04 am to Forkbeard3777
All can be fine decisions in the right circumstance. /thread
Posted on 5/23/17 at 10:10 am to Huey Lewis
quote:
Not financially efficient but if you have the money to waste and want the car then go for it.
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