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/biz/ - Business & Finance

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24267968 No.24267968 [Reply] [Original]

is getting a lease on an new car the worst financial mistake a young person can make? Why do so many people insist on building equity for a depreciating asset?

>> No.24268048

>>24267968
Leasing a car is the highest form of cuckoldry.

>> No.24268074

>>24267968
Buying a cheap car is usually only a good idea if you're really broke or you actually know what you're doing with cars. Most people don't wanna mess with their own cars, and aren't interested in learning how they work, so it's best for many people to just get a new or slightly used car.

>> No.24268095

>>24267968
Leasing is for poor retards or smart rich people nothing in between. How much you should spend on a car entirely depends on how much savings you have. Are use the 5 to 1 rule which means if you cannot afford five of them then you cannot afford one of them. So if you only have $30,000 the most you can afford is a $6000 car. That being said most Americans are broke as fuck and everyone just has payments on their cars.

>> No.24268115

>>24267968
idk, I bought a 2004 for taurus for 2k and haven't looked back. That being said I do all my own repairs and maintenance because I know how.

>> No.24268175

This is what I'm talking about. Niggas like >>24268115 can buy cheap cars and be okay cause they can fix their own cars. Most people don't know how, or can't, or don't want to deal with it.

The amount of money you HAVE to spend on cars is inversely proportional to how much you understand and can handle cars.

>> No.24268256

>>24267968
>>24268048
leasing is only really worth it if you can get income tax deductions as with corporate leasing in some places, otherwise just buy a cheap car

>> No.24268304

>>24267968
Everyone I know that leases a car has the same energy to them. "Ah well ya know no big deal, she gets good gas mileage", as if they can drive it anywhere other than work or the store to get more lollipops and tampons.

Newer cars look like shit 90% of the time and the few that don't are so expensive you might as well live in it for the price you pay. These people seriously make $20,000 or less per year and they pay apartment prices just to get around.

I respect someone (in my income bracket) that buys a 1996 Buick more than someone who leases a brand new Nissan.

>> No.24268338

>>24267968
Always used. Buying or leasing new cars is just retarded consoomerism. Leasing only starts to make sense again at a point where your salary is enough that the question isn't that important anyway.

>> No.24268337

I think 5% of net worth is a decent estimate that scales with your wealth

>> No.24268369

If you've seen Nick's HydeWars video, who was a car salesman for years and which is basically the only thing he can talk about now, why are you asking /biz/? This place is filled with retards

>> No.24268439
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24268439

My dad basically calling me a complete utter retard for wanting to finance a Civic SI when I was 19 was the best financial advice that old fucker ever gave me. I've been driving a 1990s Corolla ever since and I have so much more fucking money. Ever since I got into the make-it mindset I really don't care what I drive.

>> No.24268460

>>24268369
This board is actually decent discussion wise when it's not crypto,