Lease special from Honda
07-01-2005, 03:08 PM
#61
Registered User
Join Date: Mar 2005
Location: █ SF, CA █
Posts: 16,702
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by temin,Jul 1 2005, 03:55 PM
I don't call taking a 30 year mortgage on a house, owning.
Renting an apartment or even a house can have its advantages over buying a house just like leasing a car can have its advantages over buying a car. It comes down to your lifestyle. To think otherwise is just being closeminded.
Renting an apartment or even a house can have its advantages over buying a house just like leasing a car can have its advantages over buying a car. It comes down to your lifestyle. To think otherwise is just being closeminded.
You've got to get past month-to-month planning to really get ahead. I've made WAY more in real estate over the last 3 years than income. It's like I'm getting paid to live in my house!
07-01-2005, 03:12 PM
#62
Registered User
Join Date: Mar 2005
Location: █ SF, CA █
Posts: 16,702
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by temin,Jul 1 2005, 03:37 PM
And the money that dealerships make from financing compared to the actual sale of the car? PEANUTS.
07-01-2005, 03:17 PM
#63
Former Moderator
jasonw - why don't you just live with the fact that you are your own person - leases don't work for you, and let that be it.
By the way, we need you to lower your signature resolution to 600w x 90h pixels - thanks
By the way, we need you to lower your signature resolution to 600w x 90h pixels - thanks
07-01-2005, 03:28 PM
#64
Registered User
Join Date: Mar 2005
Location: █ SF, CA █
Posts: 16,702
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Poindexter,Jul 1 2005, 04:17 PM
jasonw - why don't you just live with the fact that you are your own person - leases don't work for you, and let that be it.
By the way, we need you to lower your signature resolution to 600w x 90h pixels - thanks
By the way, we need you to lower your signature resolution to 600w x 90h pixels - thanks
I'll have to find a picture of the bears in a position more friendly to 90px h
07-01-2005, 03:42 PM
#65
Registered User
Join Date: Jun 2001
Location: Metro Boston
Posts: 228
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by jasonw,Jul 1 2005, 03:08 PM
Well when your rent doubles every 10 years or so while a house payment stays fixed and you can't even dream of equity, and have 0 tax deductions, it's hard to count the virtues of renting...
You've got to get past month-to-month planning to really get ahead. I've made WAY more in real estate over the last 3 years than income. It's like I'm getting paid to live in my house!
You've got to get past month-to-month planning to really get ahead. I've made WAY more in real estate over the last 3 years than income. It's like I'm getting paid to live in my house!
But when you look at how much interest you pay on a six/seven figure piece of property I hardly think the tax benefits even come close.
$500k @ 5% over 30 years amounts to almost $1 million paid back to the bank.
$16k a year in interest. Hell, for the first couple years you're probably paying over $2k a month in just interest.
Equity is great. It allows you to get your money back if you need it.
The virtues of renting all come in the form of not having the headaches of being a homeowner. Piss and moan all you want, but not everyone is worried about their bottom line as much as you seem. If the money you claim to make on real estate is worth it to you then that's great. Not everyone cares that much about money.
And btw, my rent isn't anywhere on pace to double in 10 years. Maybe 50.
07-01-2005, 03:43 PM
#66
Registered User
Join Date: Jun 2001
Location: Metro Boston
Posts: 228
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by jasonw,Jul 1 2005, 03:12 PM
I think if you read though and see what people are paying for lease payments, there is a VERY wide range. Who do you think that margin goes to? $50/mo for 36 months is not PEANUTS unless they are gold plated!
07-01-2005, 04:39 PM
#67
Registered User
Join Date: Feb 2003
Location: Milwaukee, USA
Posts: 542
Likes: 0
Received 0 Likes
on
0 Posts
2 things to add:
The $369 zero down sales I saw goin' around is a pretty good deal. My 2002 payment is slightly higher but I still feel I got a fair deal all things considered. Dec 05 I'll be back to turn the '02 in and I'll know what to shoot for in an '06 S.
The NSX "deal" isnt a good deal. I actually went into my local dealer and sat down with the finance guy to work out the details. Almost got hooked into the Yellow showroom model. Read the fine print: 6,000 miles per year (!!!) is what you are paying for. That's 500 miles per month. I'm not that guy who will pay $800/mo for a car that will sit in my garage while I drive my Tacoma to work BECAUSE i WENT OVER MY MONTHLY MILEAGE. Screw that. 15K/yr on my S is perfect for my commute.
Oh, and the NSX insurance was pretty high...about double what I pay for S.
The $369 zero down sales I saw goin' around is a pretty good deal. My 2002 payment is slightly higher but I still feel I got a fair deal all things considered. Dec 05 I'll be back to turn the '02 in and I'll know what to shoot for in an '06 S.
The NSX "deal" isnt a good deal. I actually went into my local dealer and sat down with the finance guy to work out the details. Almost got hooked into the Yellow showroom model. Read the fine print: 6,000 miles per year (!!!) is what you are paying for. That's 500 miles per month. I'm not that guy who will pay $800/mo for a car that will sit in my garage while I drive my Tacoma to work BECAUSE i WENT OVER MY MONTHLY MILEAGE. Screw that. 15K/yr on my S is perfect for my commute.
Oh, and the NSX insurance was pretty high...about double what I pay for S.
07-01-2005, 05:14 PM
#68
Registered User
Join Date: Mar 2005
Location: █ SF, CA █
Posts: 16,702
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by temin,Jul 1 2005, 04:43 PM
That margin typically goes to the banks, not the dealerships.
07-01-2005, 05:21 PM
#69
Registered User
Join Date: Mar 2005
Location: █ SF, CA █
Posts: 16,702
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by temin,Jul 1 2005, 04:42 PM
Tax deductions are nice, no doubt.
But when you look at how much interest you pay on a six/seven figure piece of property I hardly think the tax benefits even come close.
$500k @ 5% over 30 years amounts to almost $1 million paid back to the bank.
$16k a year in interest. Hell, for the first couple years you're probably paying over $2k a month in just interest.
Equity is great. It allows you to get your money back if you need it.
The virtues of renting all come in the form of not having the headaches of being a homeowner. Piss and moan all you want, but not everyone is worried about their bottom line as much as you seem. If the money you claim to make on real estate is worth it to you then that's great. Not everyone cares that much about money.
And btw, my rent isn't anywhere on pace to double in 10 years. Maybe 50.
But when you look at how much interest you pay on a six/seven figure piece of property I hardly think the tax benefits even come close.
$500k @ 5% over 30 years amounts to almost $1 million paid back to the bank.
$16k a year in interest. Hell, for the first couple years you're probably paying over $2k a month in just interest.
Equity is great. It allows you to get your money back if you need it.
The virtues of renting all come in the form of not having the headaches of being a homeowner. Piss and moan all you want, but not everyone is worried about their bottom line as much as you seem. If the money you claim to make on real estate is worth it to you then that's great. Not everyone cares that much about money.
And btw, my rent isn't anywhere on pace to double in 10 years. Maybe 50.
Where I live, houses that sold for $30,000 30 years ago are now selling for $1,000,000. You think the owner is worried about how much interest they could have avoided if they rented?
If you pay $500k in interest, you probably save about $150k in taxes. The housing market has easily grown at double of what today's interest rates are historically. I won't even compare how quick prices are doubling currently...
It's better to pay $2,000 a month in interest than $3,000 a month in rent for the same house!
If you are worried about headaches, just get a place with a HOA. Personally, my job gives me headaches too but I still show up...usually...
There's no way you rent isn't gonna double faster than 1x per 50 years in Cali!
07-01-2005, 06:46 PM
#70
Registered User
Join Date: Jun 2001
Location: Metro Boston
Posts: 228
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by jasonw,Jul 1 2005, 05:14 PM
There's GOT to be a kickback. Otherwise how could they negotiate rates?
If a dealership gets you at 0% or 20% they don't care as long as some bank out there will buy the loan. The financing generates little revenue for the dealership in comparison to what they get from the actual sale.
Higher rates mean more money for the bank earlier.