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OT: Cars

You can't do that, because you already have a gold plated pension paid for by Corks and others taxpayers. If we allowed you to take advantage of everything free enterprise has to offer as well, we'd bankrupt the province.
 
theREALkoreaboy said:
he's not buying that car solely for "company time". i assume it will also be his personal vehicle. he will be able to reduce a portion of the costs of that vehicle through the tax code. i'm not taking issue with that, i'm just pointing out that as a teacher i NEVER get to do that. ever. and i could sit here and list a dozen ways i use my vehicle to drive around to do school or professional-related stuff.
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You're a real dummy.

If I goto Staples on the weekend to buy printer paper I don't consider that business purposes. If I goto a clients home to sign paperwork that is a cost directly attributed to generating business and is therefore counted towards business use of a vehicle.
 
Lease is good if you cant afford financing (payments are to high) for expensive car and lease rate is low and thinking of keeping it later which makes it long term financing. 1 more good reason to lease when car is not what you really can sell for reasonable price after 2-4 years of ownership.
 
Sometimes, rarely, a Lease offer is lower than the depreciation value of the car. That is when it truly pays to lease. That tends to happen when sales have been soft in a model year and they blow them out at the end of the year though.
 
theREALkoreaboy said:
he's not buying that car solely for "company time". i assume it will also be his personal vehicle. he will be able to reduce a portion of the costs of that vehicle through the tax code. i'm not taking issue with that, i'm just pointing out that as a teacher i NEVER get to do that. ever. and i could sit here and list a dozen ways i use my vehicle to drive around to do school or professional-related stuff.
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I doubt he gets two months off.
 
Lease is also good if you run up a lot of KM's. If you buy, you gotta put a lot of money into the car for maintenance after a short period of time, and it's not worth it with the way cars depreciate so quickly.
 
Oh and while I get Cork's attraction to the G sedan, I'd definitely try the Maxima and G coupe on for size. Maybe even a 370Z with all the fixins'.
 
PlayerToBeNamedLater said:
Lease is also good if you run up a lot of KM's. If you buy, you gotta put a lot of money into the car for maintenance after a short period of time, and it's not worth it with the way cars depreciate so quickly.
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Usually the dealer more than compensates for that with their charges for high-mileage leases. And then they start dinging you for every ding, scuff, and rub when you hand it back... But as Habsy said, if the car is a bargain anyway it can work.

IMO though, it's almost always better to get as close to buying the car as possible. I sort of think of leasing vs. financing as renting a place vs. a mortgage.
 
PlayerToBeNamedLater said:
Lease is also good if you run up a lot of KM's. If you buy, you gotta put a lot of money into the car for maintenance after a short period of time, and it's not worth it with the way cars depreciate so quickly.
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Not necessarily, most leases have mileage limits and to get a high mileage lease costs more.
 
Truthfully, with interests rates as low as they are for used, you're better off buying a two year old car with low mileage. Someone else paid for the depreciation. Extended warranties are cheap enough now too if that is your concern.
 
johnunit said:
Usually the dealer more than compensates for that with their charges for high-mileage leases. And then they start dinging you for every ding, scuff, and rub when you hand it back... But as Habsy said, if the car is a bargain anyway it can work.

IMO though, it's almost always better to get as close to buying the car as possible. I sort of think of leasing vs. financing as renting a place vs. a mortgage.
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The thing is, the housing market tends to increase at least at the rate of inflation, where as your car nose dives in value.
 
Habsy said:
Not necessarily, most leases have mileage limits and to get a high mileage lease costs more.
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For sure, more km's = more bucks on your lease.

But it you work within the limits of your deal, having a new car every 4 or so years with a guarantee of no maintenance costs, has it's value.
 
PlayerToBeNamedLater said:
The thing is, the housing market tends to increase at least at the rate of inflation, where as your car nose dives in value.
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True, but like a rental, the owner is only leasing because they're gonna make more money than selling. If you were coming out ahead by leasing they would generally just say "sale only". Instead they structure leases from the bottom up to have you paying more money than the difference between what the car is worth new and what it's worth at the lease end. And it has to be enough more to make up for all the paperwork at lease end/resale.
 
johnunit said:
Usually the dealer more than compensates for that with their charges for high-mileage leases. And then they start dinging you for every ding, scuff, and rub when you hand it back... But as Habsy said, if the car is a bargain anyway it can work.

IMO though, it's almost always better to get as close to buying the car as possible. I sort of think of leasing vs. financing as renting a place vs. a mortgage.
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Buy an appreciating asset, lease a depreciating one.

I've long held that belief. I've also never had a family member have problems when returning a lease. Little dings and scratches can always be removed independently by one of those traveling dent repair guys...hell, I'd do that if I owned the car too (no one likes driving a beaten up car).
 
johnunit said:
Usually the dealer more than compensates for that with their charges for high-mileage leases. And then they start dinging you for every ding, scuff, and rub when you hand it back... But as Habsy said, if the car is a bargain anyway it can work.

IMO though, it's almost always better to get as close to buying the car as possible. I sort of think of leasing vs. financing as renting a place vs. a mortgage.
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I disagree.

A car's value basically goes to zero - but a house can keep its value much higher/longer.


In all of renting/leasing/financing it is all throwing money away....with a house you can break even quite easily.

That said....you are correct...most leases have a per km over the 22k a year charge.

We have two cars - one is leased, one is financed....the leased car is due in March but I will buy it out. I did the math at time of purschase and it only cost about 1g more to do it lease/buyout than to finance.
 
corksens said:
Buy an appreciating asset, lease a depreciating one.

I've long held that belief. I've also never had a family member have problems when returning a lease. Little dings and scratches can always be removed independently by one of those traveling dent repair guys...hell, I'd do that if I owned the car too (no one likes driving a beaten up car).
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and if you are re-leasing they will not care much
 
PlayerToBeNamedLater said:
For sure, more km's = more bucks on your lease.

But it you work within the limits of your deal, having a new car every 4 or so years with a guarantee of no maintenance costs, has it's value.
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While I Lease a car through my business because I like shiny new ones, My other cars are all paid off because they are utilitarian. I bought an SUV for grunt work and paid cash. Wife's car paid off, kid's cars paid off. You end up saving a lot of money. Of course my wife is different than I am. She tends to keep her cars 10-12 years and you have to pry the steering wheel from her white-knuckled to get her in a new one. She gets attached to things. Heck she hasn't traded me in yet.
 
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