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re: Car-Leasing basics; what do I need to know?
Posted on 2/19/24 at 1:32 pm to lynxcat
Posted on 2/19/24 at 1:32 pm to lynxcat
quote:
A car is an expense, not an asset.
quote:
False. It is an asset that depreciates.
You are correct. I would only add that an automobile is an asset that usually depreciates. For purposes such as the OP’s query, collectibles and such aren’t really germane to the discussion. I just happened to be in my garage today messing with my Grand National when I read this.
1
Posted on 2/19/24 at 1:37 pm to Jag_Warrior
quote:
You are correct. I would only add that an automobile is an asset that usually depreciates. For purposes such as the OP’s query, collectibles and such aren’t really germane to the discussion. I just happened to be in my garage today messing with my Grand National when I read this.
Yeah we got a 1999 Mercedes SL500 a few years ago and it probably wont depreciate from what we bought it for. However, the money involved in keeping it running, I doubt it's an "investment" in the end
Posted on 2/19/24 at 2:24 pm to thunderbird1100
Agreed. At the risk of speeding way off topic (sorry guys), the Ferrari 308GTS that I could have bought about 20 years ago for $29K would have gobbled up mucho $ to be serviced, but even with that, I’d be sitting at a near $100K valuation now. And we certainly won’t talk about the V12 Series III E-type Jaguar for $6500, with a strapped for cash owner. Not buying that makes me feel a need for an antidepressant.
Posted on 2/19/24 at 3:20 pm to Jag_Warrior
I leased a Honda CRV for $250/month. At end of lease, I was 18k over the mileage in agreement. CarMax bought it for $1,800 more than the buyout so I just traded it in there. Pretty nice deal IMO.
This post was edited on 2/19/24 at 3:21 pm
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