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Old 10-25-2005, 01:34 PM   #41
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I paid cash for my last oil change...
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Old 10-25-2005, 01:44 PM   #42
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Originally Posted by ProV1
i did, and i fcukin love it!!!

ne1 else *HATE* getting a loan and paying interest?? i got a kickass APR 5 yr ARM on my brand new house and will be paying that off as well after 5 yrs..

40K cd=7% 40K loan=2.9% Next time you want to buy a car, look me up.
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Old 10-25-2005, 02:00 PM   #43
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thats funny. I find it really hard to believe that a lot of you walked into the dealer and handed a check for $44k for a car. Now some of you I don't doubt....but the lot of ya....hmmm
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Old 10-25-2005, 02:13 PM   #44
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thats funny. I find it really hard to believe that a lot of you walked into the dealer and handed a check for $44k for a car. Now some of you I don't doubt....but the lot of ya....hmmm
my car was purchased cpo with a check for $31,000+change. the same way my dad paid for his camaro ss and my mom's 2006 xl denali
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Old 10-25-2005, 04:16 PM   #45
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Some funny opinions in here. In theory I suppose I could have paid cash for my car and bought 3 or 4 others at the same time... but at 3.9% financing, it makes more sense to take the loan and invest... I also write off much more then 100% of the monthly payments on the car, so leasing was actually a worse decision (since it's tough to write off more then 100% of a lease).

Props to all who stepped up and paid cash. You help the world go 'round.

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Old 10-25-2005, 04:22 PM   #46
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actually, the smart thing is to lease your $40K car and invest most of that $40K, instead of putting that $40K cash in something that doesn't appreciate. the lease payments generally cover the depreciation of the vehicle, plus the return you are getting from your investment will offset part of that depreciation. furthermore, with leasing you only pay tax for the "portion" of the car you use instead of on the whole car itself. basically, after a 3 year lease on a $40K car, you will pay tax on maybe $15K-$17K instead of the whole $40K. just something to think about...
I like your train of thought, but anyone giving investment advice and telling you to LEASE won't get much respect. Leasing is like rent, throwing money away.
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Old 10-25-2005, 04:23 PM   #47
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Quote:
Originally Posted by SnagD
40K cd=7% 40K loan=2.9% Next time you want to buy a car, look me up.
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I agree with JonJon.
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Old 10-25-2005, 04:36 PM   #48
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Wanted to pay cash but my accountant told me to finance. 3 year bank loan at prime and I can write off 90% of car, interest, insurance and fuel.
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Old 10-25-2005, 04:39 PM   #49
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I like your train of thought, but anyone giving investment advice and telling you to LEASE won't get much respect. Leasing is like rent, throwing money away.
It depends where you live and your corporate/personal tax structure.
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Old 10-25-2005, 04:42 PM   #50
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Not cool. Some of us work hard for a living. If I took your post out of context, i apoligize, however, it came across as kinda foul.
yeah i think you did but that's ok. maybe is should have phrased it differently, it's like dave chapelle, "i bought this **** cash n***a" sorry if i offended you.
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Old 10-25-2005, 04:46 PM   #51
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you can mod a lease....but you have to do mods that you can remove later on...

I can't understand why you would walk into the dealer and just hand over 30 grand. All those people thinking they are because they paid cash upfront are quite mistaken. The amount of money you lose due to depreciation is very high. Sure it might make your ego feel better but it is a bad finiancial decision. I would much rather finiance the car if I was going to buy it.

But what I personally like to do is this: I lease the car for 3 years with 0 down and my monthly payment is the depreciation on the car. Now if I like the car and want to keep it after the lease term is over, I would just buy it out and pay off the remaining value...

Also, leasing makes sense to business owners because they can write off their car payments. It also makes sense if you like to switch cars every couple of years.
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Old 10-25-2005, 05:01 PM   #52
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So the new rule is you must be among the "elite" to afford a BMW, that is a multimillionaire w/ unlimited cashflow, even a used $22,000 e46. Because I would NEVER write a check for $40,000 if my checking account balance was under $200,000. Why not invest the money instead of just throwing it away on something that's value only depreciates. This is stupid thread. Let's make a new one: "YOUR BANK ACCOUNT BALANCE AFTER BUYING YOUR E46"

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Old 10-25-2005, 05:28 PM   #53
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yea
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Old 10-25-2005, 06:14 PM   #54
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ty1200 - LOL, that would be a good thread haha.

Quote:
Originally Posted by yzracer420
I like your train of thought, but anyone giving investment advice and telling you to LEASE won't get much respect. Leasing is like rent, throwing money away.
ANYTIME you buy/lease a car your throwing away money. Cars depreciate, so comparing it to realestate which almost always goes up is unfair.
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Old 10-25-2005, 06:56 PM   #55
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Originally Posted by mattclaud
ty1200 - LOL, that would be a good thread haha.



ANYTIME you buy/lease a car your throwing away money. Cars depreciate, so comparing it to realestate which almost always goes up is unfair.
Rent isn't real estate, its a service. You're paying for the service of a place to live like you'd pay the service of a car. Once you're lease is up, what do you have? Nothing. You can rent an apartment or lease a car(s) for 10 years and have nothing to show for it. Even if you option the lease to buy, why would you if you plan on buying anyways? Why do you think monthly payments are cheaper on a lease? Is it a gift to you?

Bottom line, everyone knows cars depreciate, that doesn't mean you should throw money away on a lease.

As for the tax structure, I couldn't comment on that. As far as I know the only write off you could get in the US would be for a commercial vehicle used for business purposes? Are you from Canada? If you want to fill me in on that I'd like to know the secret.
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Old 10-25-2005, 06:59 PM   #56
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But on a side note, the 5 series is the least depreciating luxury sedan, and from what I've read the 3 series isn't too far behind.
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Old 10-25-2005, 07:04 PM   #57
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Paid cash for my 330ci two years ago and also paid cash for our 2003 530I.
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Old 10-25-2005, 07:08 PM   #58
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a lot of people live irresponsibly. they just leased their s-class merc because they make 100k and think why not...

WRONGGGGGGGGGGGGGGGGGGGGGGGGGGGG


always pay cash...if you can't afford it, don't buy it.. thats why honda is there.


its the 1920's thinking of buying everything on credit that gets people in trouble down the road.

my uncle ended up in cc debt and he has no responsibilities, a 60k job, and lives in one of his parent's house.

wonder how?

answer: buying on credit.
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Have any of you heard of "sloming"? Supposedly, high school students are sticking leeches to themselves in exchange for some kind of high. Since when did this become the new thing? What happened to just kicking back with a group of your close friends and smoking a joint?
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Old 10-25-2005, 07:14 PM   #59
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Quote:
Originally Posted by FunPoliceSam
a lot of people live irresponsibly. they just leased their s-class merc because they make 100k and think why not...

WRONGGGGGGGGGGGGGGGGGGGGGGGGGGGG


always pay cash...if you can't afford it, don't buy it.. thats why honda is there.


its the 1920's thinking of buying everything on credit that gets people in trouble down the road.

my uncle ended up in cc debt and he has no responsibilities, a 60k job, and lives in one of his parent's house.

wonder how?

answer: buying on credit.
No its the SMART INVESTOR thinking that tells you to put your money where it MAKES MONEY......

Why would you pay cash for a car and tie up your money when your money could be making you 3-20% interest?

Your uncle had no responsibility...that was his problem, he spent more then he earned.. COMPLETELY DIFFERENT STORY.....Doesnt even relate...

I done it b4, and I learned from my mistakes...

Buying items IN CASH that dont earn you money is STUPID....


If "Owning" a car makes your head feel bigger....Fine...But I'd MUCH rather check my bank everyday and see my interest pay my car insurance every month
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Old 10-25-2005, 07:20 PM   #60
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key word: INVESTOR

now what happens when one of your investments fails (say you dropped it on a stock) and you've got no money and a bmw lease on your hands.

obviously if you have the income and the price of the commodity doesn't affect you or in a very minor way, you won't care and you'll pay cash.

same reason why we don't drive a ferrari....

my parents could easily make the monthly payments on a new one.... but if they lost their job... we couldn't afford it.


aren't you late? you must keep up with the jones. *sarcasm*





Quote:
Originally Posted by BMDoubleU2k4
No its the SMART INVESTOR thinking that tells you to put your money where it MAKES MONEY......

Why would you pay cash for a car and tie up your money when your money could be making you 3-20% interest?

Your uncle had no responsibility...that was his problem, he spent more then he earned.. COMPLETELY DIFFERENT STORY.....Doesnt even relate...

I done it b4, and I learned from my mistakes...

Buying items IN CASH that dont earn you money is STUPID....


If "Owning" a car makes your head feel bigger....Fine...But I'd MUCH rather check my bank everyday and see my interest pay my car insurance every month
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Have any of you heard of "sloming"? Supposedly, high school students are sticking leeches to themselves in exchange for some kind of high. Since when did this become the new thing? What happened to just kicking back with a group of your close friends and smoking a joint?
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