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Getbig Main Boards => Gossip & Opinions => Topic started by: 240 is Back on January 17, 2014, 04:51:03 PM
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Dwayne The Rock Johnson
"Trust me…never buy a depreciating asset. If it drives, flies, floats or f*cks - lease it!"
On set. Miami. Our new HBO show, BALLER$.
#SuccessIsTheDrug #BallinIsTheHigh
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Listen to the Great One, as they are all chanting the Rock's name
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Most of us don't have to worry about the flies/floats aspect so that leaves cars. A car isn't an investment. It gets you from A to B. I'm not thinking about ROI. I want reliability, safety, utility, etc, for the useable life of the car. It's not a 'depreciating asset.' It's a disposable chattle destined for the scrapyard.
I imagine the cost of the vehicle + maintenance costs/ years on the road < cost of lease over same number of years. Idk, I never looked into a lease. But I'd love to be there when someone tells the dealer "The Rock says I should lease."
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Most of us don't have to worry about the flies/floats aspect so that leaves cars. A car isn't an investment. It gets you from A to B. I'm not thinking about ROI. I want reliability, safety, utility, etc, for the useable life of the car. It's not a 'depreciating asset.' It's a disposable chattle destined for the scrapyard.
I imagine the cost of the vehicle + maintenance costs/ years on the road < cost of lease over same number of years. Idk, I never looked into a lease. But I'd love to be there when someone tells the dealer "The Rock says I should lease."
24month least on a 2014 S63 would've cost me (if I recall correctly) 60k, whereas I could buy a used 2010/2011 S63 with well less than 40k miles for about $45k plus warranty.
I'd rather buy a CPO car, rather than lease... at least a large chunk of the car has already been depreciated, and it's still new enough and in good enough condition to get a warranty.
buy a new car and lose 50% value (what you paid) in 2 years.
buy a CPO car and lose 20% value (what you paid) in 2 years.
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24month least on a 2014 S63 would've cost me (if I recall correctly) 60k, whereas I could buy a used 2010/2011 S63 with well less than 40k miles for about $45k plus warranty.
I'd rather buy a CPO car, rather than lease... at least a large chunk of the car has already been depreciated, and it's still new enough and in good enough condition to get a warranty.
buy a new car and lose 50% value (what you paid) in 2 years.
buy a CPO car and lose 20% value (what you paid) in 2 years.
I agree. I never understood leasing unless you wanted to upgrade often.
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I agree. I never understood leasing unless you wanted to upgrade often.
Agreed. Upgrade and don't feel like trying to sell a car to someone.
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24month least on a 2014 S63 would've cost me (if I recall correctly) 60k, whereas I could buy a used 2010/2011 S63 with well less than 40k miles for about $45k plus warranty.
I'd rather buy a CPO car, rather than lease... at least a large chunk of the car has already been depreciated, and it's still new enough and in good enough condition to get a warranty.
buy a new car and lose 50% value (what you paid) in 2 years.
buy a CPO car and lose 20% value (what you paid) in 2 years.
This.
how many getrich members are in his income category? he's talking about private jets, yachts and 200,000 cars? yeah, i'd go lease or marcus card in those cases.
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Most of us don't have to worry about the flies/floats aspect so that leaves cars. A car isn't an investment. It gets you from A to B. I'm not thinking about ROI. I want reliability, safety, utility, etc, for the useable life of the car. It's not a 'depreciating asset.' It's a disposable chattle destined for the scrapyard.
I imagine the cost of the vehicle + maintenance costs/ years on the road < cost of lease over same number of years. Idk, I never looked into a lease. But I'd love to be there when someone tells the dealer "The Rock says I should lease."
best response ever on getbig
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24month least on a 2014 S63 would've cost me (if I recall correctly) 60k, whereas I could buy a used 2010/2011 S63 with well less than 40k miles for about $45k plus warranty.
I'd rather buy a CPO car, rather than lease... at least a large chunk of the car has already been depreciated, and it's still new enough and in good enough condition to get a warranty.
buy a new car and lose 50% value (what you paid) in 2 years.
buy a CPO car and lose 20% value (what you paid) in 2 years.
I take that back... would've cost me $96k to lease it for 2yrs with 10k down, and about 60k remaining at the end of the lease... and after 2yrs, i'll be out $106k and have no asset.
or I can buy a 2010 S63 for under $60k, and after 2yrs i'll have an asset worth $40k.
unless you have disposable income, leasing is retarded.. or unless your company is leasing it and you can deduct it from your taxable income or pay for it with pre-tax dollars, in which it'll be like paying only $74k for the 2014, but still be without an asset in 2yrs....
eh, who cares. I'm not taking financial advice from "the rock", who gets his financial advice from a group of others with degrees and no time to explain to him the who's what's when's or why's of why they want to do XZ&Z with his money.
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I take that back... would've cost me $96k to lease it for 2yrs with 10k down, and about 60k remaining at the end of the lease... and after 2yrs, i'll be out $106k and have no asset.
or I can buy a 2010 S63 for under $60k, and after 2yrs i'll have an asset worth $40k.
unless you have disposable income, leasing is retarded.. or unless your company is leasing it and you can deduct it from your taxable income or pay for it with pre-tax dollars, in which it'll be like paying only $74k for the 2014, but still be without an asset in 2yrs....
eh, who cares. I'm not taking financial advice from "the rock", who gets his financial advice from a group of others with degrees and no time to explain to him the who's what's when's or why's of why they want to do XZ&Z with his money.
I leased when I was self employed now I ride the bus
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This.
how many getrich members are in his income category? he's talking about private jets, yachts and 200,000 cars? yeah, i'd go lease or marcus card in those cases.
now... a yacht, I'd lease if I could. unless it's a 30ft mono-hull or something that's only $120k, or a 45ft cat or something. Depreciation and general maintenance on a 65ft Hargrave or a 50ft Hatteras is absolutely fucking brutal and I wouldn't want to keep it more than 2-3yrs anyway.... same with a private jet. gotta be a goddamn fool to buy your own jet and be responsible for maintenance when you can lease a share of one.
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I leased when I was self employed now I ride the bus
I used to ride the bus from La Jolla to downtown san diego, then got on the trolley to Tijuana when I was smuggling Joooose. If I got busted (when I got busted), I didn't want my car sitting in the parking lot and getting towed or seized. lol
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I used to ride the bus from La Jolla to downtown san diego, then got on the trolley to Tijuana when I was smuggling Joooose. If I got busted (when I got busted), I didn't want my car sitting in the parking lot and getting towed or seized. lol
I had a similar thing happen to me when I was selling juice... Had to take the trolley but eventually got kicked off for having to many oranges
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Lease=fleece.
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Is The Rock gay?
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Grok
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24month least on a 2014 S63 would've cost me (if I recall correctly) 60k, whereas I could buy a used 2010/2011 S63 with well less than 40k miles for about $45k plus warranty.
I'd rather buy a CPO car, rather than lease... at least a large chunk of the car has already been depreciated, and it's still new enough and in good enough condition to get a warranty.
buy a new car and lose 50% value (what you paid) in 2 years.
buy a CPO car and lose 20% value (what you paid) in 2 years.
It really depends what model tho. The higher end models you'll get a lot cheaper used. The lower end c-classes it's almost better to buy new.
But you know whats funny is that sales people make more money off the CPO cars than the new ones.
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It really depends what model tho. The higher end models you'll get a lot cheaper used. The lower end c-classes it's almost better to buy new.
But you know whats funny is that sales people make more money off the CPO cars than the new ones.
care to explain?
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care to explain?
Which part? Sales people make more money off of used probably because they got the cars as trade ins and they ALWAYS rip people off with trade ins. So the sales people get fatter bonuses and points from their dealership for selling used vehicle. Also a lot of the CPOs are lease returns... and as ESF explained leasing isn't the best thing to do financially if you're not like the Rock who has the money to go through a new vehicle every year.
Really this all depends and mostly applies to higher end luxury vehicles which depreciate a lot.
With the lower end CPO c-classes they aren't that much different in price with the newest c-classes because it's already the cheapest benz model. Less devaluation percentage wise when compared to the higher end models. Plus a lot of time you have rebates and stuff with newer vehicles.
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I'd drive a Hyundai Genesis before I drove a C-Class benz :-X
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I can't even afford a c class. ;D Naw I could I'd just be stupid to buy one. Much rather get a Tahoe or Silverado for the money.
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I'd drive a Hyundai Genesis before I drove a C-Class benz :-X
???
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The c class gets good ratings from what I remember but really if you're gonna drive a Benz its best not to drive the cheapest model. A Benz is all about image.
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The c class gets good ratings from what I remember but really if you're gonna drive a Benz its best not to drive the cheapest model. A Benz is all about image.
CLA (Benz's cheapest sedan, hatch that sells in the US) is selling like hotcakes.
New C class was just unveiled, which means current C Class value drops like a rock.
Historically those German brands depreciate very hard...especially when the new version comes out.
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No way I would ever lease a car or rent a home. That is money you just piss away and never have anything to show for it.
Plane and yacht, perhaps but ONLY if the maintenance was included in the lease. Maintenance for a yacht is a fucking bitch.
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No way I would ever lease a car or rent a home. That is money you just piss away and never have anything to show for it.
You have absolutely no clue, sorry to tell you that.
A huge house on credit in the f*ing pampa is the main reason why 99,999% of the population will never ever do well financially and one of the main mistakes of the middle class.
But keep going, go in debt at a slapping pace for a house, rob yourself of any flexibility for the next 30 years, pay off you house like 2-3 times of it's net worth over 30 years with all the interest and shit and when you finally are debtless in 30-40 years you got an old f*ing ruin in the pampa which is't worth 30 % of what it was worth initially. So tear it down and start all over again. ;D
haha modern day slavery, I love it. The middle class is so dumb ;D
Same with the car. Save money month by month for 5 years to buy a new car for 60k, be broke again and start saving again for the next 5 years to start all over again. A new car loses like 2/3s of it's value in the first 4 years. A smart investment choice l have to say. ;D
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You have absolutely no clue, sorry to tell you that.
A huge house on credit in the f*ing pampa is the main reason why 99,999% of the population will never ever do well financially and one of the main mistakes of the middle class.
But keep going, go in debt at a slapping pace for a house, rob yourself of any flexibility for the next 30 years, pay off you house like 2-3 times of it's net worth over 30 years with all the interest and shit and when you finally are debtless in 30-40 years you got an old f*ing ruin in the pampa which is't worth 30 % of what it was worth initially. So tear it down and start all over again. ;D
haha modern day slavery, I love it. The middle class is so dumb ;D
Same with the car. Save money month by month for 5 years to buy a new car for 60k, be broke again and start saving again for the next 5 years to start all over again. A new car loses like 2/3s of it's value in the first 4 years. A smart investment choice l have to say. ;D
I agree with the car thing. If you buy a new car, don't think of it as an investment or an asset because it'll just frustrate you when you consider the depreciating value. I bought a new car because I'm lazy as fuck and don't want to deal with repairs. But being impulsive I'm actually thinking it might have been better to LEASE a car because I do like upgrading and have already accepted that I've purchased something with depreciating value. It really depends on your mindset and what you hold value in. Some people want $$$ once their loan is paid off and the ability to own the car. I just want something new and shiny that'll get me around.
As for the home thing, I disagree depending on where you live. I would never buy a piece of shit money pit, but a castle is something different. When I hear schmoes at the office talk about how they hate their 27 year old landlord I chuckle. They're paying this guy's mortgage and they have to live in some kid's investment. More often than not, people rent because they can't buy and they have to settle with shit that makes them frustrated and miserable. But then again, if you live in the city or have a great landlord that can make all the difference, but you're still paying someone elses investment so your ROI is nothing but a place to live for that money. When they're in their 40's and have no assets it's sad. Some people would like to have money and a diversified portfolio, but at the end of the day sometimes it's just really nice to have your own home and know that everyone else can FUCK OFF. I thankfully bought a home at a young age, lucked out with location and still managed to start investing in the long term.
For some, the novelty wears off and that's cool too. But I'm over the honeymoon phase of owning a new home and I still love the hell out of it. I like doing repairs and upgrading it and making it comfier each year. When you rent, you don't get the experience of pulling out power tools when there's a knick in your interior paint and turning it into a massive project/upgrade (much to the wife's frustration). I live in an area where my home's value is going to keep climbing up too (just out of dumb luck, not smart planning or anything) so I'm a happier home owner than some.
I've seen people dread and loathe the mistake, but depending on where you live you can sometimes flip it without much of a loss. I want to flip mine and come out as even as I can when I build my next home. The next home will be the one I built with my hands and die in some day. It's not a decision you should rush into. I rushed into buying my home and it was financially difficult, but it ended up being a wicked investment and I hope to buy another rental unit once the wife's done school. Too many variables to blindly say owning a house is a bad investment, because it really depends on the location and what you have value in. I have sentimental and monetary value in my home, so my opinion would be that it can be a very good investment. Just don't rush in and really evaluate what you're looking for exactly. 8)
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You have absolutely no clue, sorry to tell you that.
A huge house on credit in the f*ing pampa is the main reason why 99,999% of the population will never ever do well financially and one of the main mistakes of the middle class.
But keep going, go in debt at a slapping pace for a house, rob yourself of any flexibility for the next 30 years, pay off you house like 2-3 times of it's net worth over 30 years with all the interest and shit and when you finally are debtless in 30-40 years you got an old f*ing ruin in the pampa which is't worth 30 % of what it was worth initially. So tear it down and start all over again. ;D
haha modern day slavery, I love it. The middle class is so dumb ;D
Same with the car. Save money month by month for 5 years to buy a new car for 60k, be broke again and start saving again for the next 5 years to start all over again. A new car loses like 2/3s of it's value in the first 4 years. A smart investment choice l have to say. ;D
^^ Obviously rents his apartment and doesn't care that he has no equity in it.
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Most of us don't have to worry about the flies/floats aspect so that leaves cars. A car isn't an investment. It gets you from A to B. I'm not thinking about ROI. I want reliability, safety, utility, etc, for the useable life of the car. It's not a 'depreciating asset.' It's a disposable chattle destined for the scrapyard.
I imagine the cost of the vehicle + maintenance costs/ years on the road < cost of lease over same number of years. Idk, I never looked into a lease. But I'd love to be there when someone tells the dealer "The Rock says I should lease."
^^
BEST is one-year rented/leased that are "now for sale", check this out- car was originally $30,400 FULLY LOADED- leather seats, BOSE audio, 305h.p. engine, 6 speed auto...
NOW asking $18,000!!!!!
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I agree. I never understood leasing unless you wanted to upgrade often.
You just made your own point.
Leasing vehicles is only for people who want to have a new car every 2-3 years.
If you drive a car more than that then buy it.
Lot of people don't understand leasing. It's very simple.
On a lease you pretty much pay for the depreciation over your lease period plus interest.
It makes sense for people who have a business and write it off as a business expense. Lot of companies and individuals lease for this reason.
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ALso, all the anti lease people. Do some research.
For example Dodge dealers in detroit right now are leasing Dodge Ram trucks for around $250 a month with no money down for 2 years. That's as cheap as you can get. It's just one example.
Depreciation on that truck in 2 years would greatly exceed the money you would spend on it in a lease.
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http://www.southfieldchrysler.com/dealership/news.htm
BOOM !
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I'd drive a Hyundai Genesis before I drove a C-Class benz :-X
Me too, fuck Mercedes!
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ALso, all the anti lease people. Do some research.
For example Dodge dealers in detroit right now are leasing Dodge Ram trucks for around $250 a month with no money down for 2 years. That's as cheap as you can get. It's just one example.
Depreciation on that truck in 2 years would greatly exceed the money you would spend on it in a lease.
Most people blindly regurgitate what they've heard and can't do elementary school math on a calculator. They understand that they'll own the vehicle in the end, but what they fail to recognize is the bigger picture - they're paying WAY more than they should to accomplish their task. If they buy slightly used or get a lease, they'll get a vehicle for way less than what they'd pay at the end of their loan term.
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Me too, fuck Mercedes!
what?! nononono... lol.. I meant fuck the C-Class. lol
the S-Class is a great machine.
I'm older now, and I've done my racing (legally and not legally), so I don't care much about performance. I'm more concerned with safety and comfort. No other car makes me feel as safe with my kids in the back as an S-Class benz... the security is what you pay a premium for. not many other cars have built in roll-cages. lol.
I don't mind the C-500, I'd probably buy a C500 over a 4door 3 Series, but you'll always have that "Envy" when you pull up next to an Eclass, or a 5 series BMW.. the same way an Eclass will always be jealous when they pull up next to an S-Class.
The Genesis is great.. IMO. I have a few clients who have them. great cars for the price. big, almost-full-size sedan with a v8 and allllll the bells and whistles. (although I'm not sure if they have the radar-assist cruise-control), and they can run on 87-gas. $25k for a 2010/2011 with 30K miles and A LOT left on the warranty is hard to beat.
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unless it was an Audi A8L... that one I'd lease, and get rid of. lol... fucking $389 oil changes.
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For us regular guys leading is a rip off, better to buy. For the Rock it really doesn't matter because he is so rich.
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For us regular guys leading is a rip off, better to buy. For the Rock it really doesn't matter because he is so rich.
you're not regular, you're a getbigger! >:( ;D
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you're not regular, you're a getbigger! >:( ;D
Am a getbigger but not a millionaire. Quite modest income, do have the 11" penis though.
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fuckin dumb advice to be honest
a car is not even an asset
it's a fucking car, just buy one you can easily afford and call it a day morrons
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fuckin dumb advice to be honest
a car is not even an asset
it's a fucking car, just buy one you can easily afford and call it a day morrons
Solid advice from Halo.
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thanks i just listen to the old people of the village with tons of money but who eat old bread just cuz they dont want to waste it
if at one point i can easily afford a nice mid range mercedes and my other car needs to be replaced i surely would buy one because mercedes is a nice manly car brand
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thanks i just listen to the old people of the village with tons of money but who eat old bread just cuz they dont want to waste it
stupid way to live IMO. What's the point of dying filthy rich if you don't live a little?
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stupid way to live IMO. What's the point of dying filthy rich if you don't live a little?
i'd say living in a big nice house, driving a big nice car, taking big nice travels around the world with your wife
is more than living a little
that's what they do, the rich people, but they still hold their money tight unlike the fools
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If it Fucks, Lease it?
Marriage is kind of a Lease isn't it? :D
It calls for the lessee to pay (new clothes) the lessor (wife) for use of an asset (usage of ass, sex).
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if it drives flys or fucks.... rent it
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But I'd love to be there when someone tells the dealer "The Rock says I should lease."
Any salesmen worth his salt would agree wholeheartedly and keep the conversation moving without missing a beat.
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Dwayne The Rock Johnson
"Trust me…never buy a depreciating asset. If it drives, flies, floats or f*cks - lease it!"
I have moved in “Old Money” circles in Houston forever. (I am not rich at all, but very well educated. An unemployed engineer who had to make a career change and now work for a non-profit organization). One of the things I have noticed about “Old Money, River Oaks Houston” households is that you find immaculate 5-15 year old mid level Fords and Chevy’s parked in their driveways and garages.
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I have moved in “Old Money” circles in Houston forever. (I am not rich at all, but very well educated. An unemployed engineer who had to make a career change and now work for a non-profit organization). One of the things I have noticed about “Old Money, River Oaks Houston” households is that you find immaculate 5-15 year old mid level Fords and Chevy’s parked in their driveways and garages.
Thanks for the insight Novena!
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http://www.southfieldchrysler.com/dealership/news.htm
BOOM !
^^
Good find!!!
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chattle
I love it when you talk dirty.
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Is The Rock gay?
NO !!! He only has sex with other men to express his masculinity.
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Any stupid twat that throws dead money on RENT to be 'flexible' is a prick.
I put every spare coin into paying off the house, and then I will be relatively free of slavery when in 10-12 years it's paid off.
Plus my children have a head start in life when I drop dead aged 90 on top of my 21-year old girlfriend.
haha i think it's hilarious when ppl say that
renting a house ;D
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mortgage/expense on a 160k house is around $600/month
rent that fucker out for $1100 all day.
buy two 160k houses (where I am actually, is surprisingly cheap for homes.. 160k for a decent 3br).
rent one for 1100-1200 and you're living for free. that's an extra $15k/year you have in the bank you'd normally be spending on rent/mortgage.
own 3, rent two out and you're making an extra $500-600/month profit.
own 4, and you're profiting about $45k/year just for being in debt on your mortgages.
and so on and so on.
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mortgage/expense on a 160k house is around $600/month
rent that fucker out for $1100 all day.
buy two 160k houses (where I am actually, is surprisingly cheap for homes.. 160k for a decent 3br).
rent one for 1100-1200 and you're living for free. that's an extra $15k/year you have in the bank you'd normally be spending on rent/mortgage.
own 3, rent two out and you're making an extra $500-600/month profit.
own 4, and you're profiting about $45k/year just for being in debt on your mortgages.
and so on and so on.
looks good on paper
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looks good on paper
X2. Halo surprising me in this thread, lots of good financial knowledge.
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As long as your putting more in a 401k than your payment per month, do what makes u happy
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mortgage/expense on a 160k house is around $600/month
rent that fucker out for $1100 all day.
buy two 160k houses (where I am actually, is surprisingly cheap for homes.. 160k for a decent 3br).
rent one for 1100-1200 and you're living for free. that's an extra $15k/year you have in the bank you'd normally be spending on rent/mortgage.
own 3, rent two out and you're making an extra $500-600/month profit.
own 4, and you're profiting about $45k/year just for being in debt on your mortgages.
and so on and so on.
Make an allowance for one of your "units" to be idle. Either from vacancy or having a tenant who suddenly can't pay. It will happen.
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X2. Halo surprising me in this thread, lots of good financial knowledge.
hehe... thanks
i don't understand much about money tho only the basics i learnt from the village elders
-earn as much as possible
-spend as little as possible within reasonable quality of life
-buy a decent house instead of renting
-buy a car you can easily afford, financing a car is bullshit, if not needed or affordable use bicycle or public transportation
-don't let a woman get half your things by traditional marriage
that's all i know, the markets, stocks etc remain a mystery to me ???
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hehe... thanks
i don't understand much about money tho only the basics i learnt from the village elders
-earn as much as possible
-spend as little as possible within reasonable quality of life
-buy a decent house instead of renting
-buy a car you can easily afford, financing a car is bullshit, if not needed or affordable use bicycle or public transportation
-don't let a woman get half your things by traditional marriage
that's all i know, the markets, stocks etc remain a mystery to me ???
good solid basics.
Add dont ever buy a house with a woman, made that mistake and now we split have to jump through hoops to get my half back ::)
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good solid basics.
Add dont ever buy a house with a woman, made that mistake and now we split have to jump through hoops to get my half back ::)
i was very much aware of this thank god
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Buying a house with a woman you are not married to is the definition of stupid.
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Too much iron has taken him down.
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Any stupid twat that throws dead money on RENT to be 'flexible' is a prick.
I put every spare coin into paying off the house, and then I will be relatively free of slavery when in 10-12 years it's paid off.
Plus my children have a head start in life when I drop dead aged 90 on top of my 21-year old girlfriend.
Thank you. Of course some idiot will come along and tell you that you don't know what you are talking about. LOLOLOLOL
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All depends on the price to rent ratio in your area.
If houses are 160k and can be rented for 1100 per month then the price to rent ratio is 12 and it is worth buying.
Rents are a true measure of wealth in your area not prices. In a credit bubble people are given more money than they can ever repay.
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Finance companies don't give leases out as a charity, so yes - of course leasing is more expensive.
I imagine whoever is giving financial advice to the Rock is getting a small percentage from the leasing companies.
Just another celeb who has more money than sense.
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Again to the simpletons who are bashing leasing
You're either poor or have no financial sense over the level of high school checkbook balancing type shit.
There are people who own businesses that write off leases on taxes & people who make a lot of Money & losing a couple bucks isn't a big deal because to them flexibility is worth more value than ownership.
If you keep a car 5, 6, 7 + years then leasing is not for you.
If you like new toys every 2 years then leasing makes most sense.
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If you keep a car 5, 6, 7 + years then leasing is not for you.
If you like new toys every 2 years then leasing makes most sense.
This whole thread can be summed up here pretty much.
But hell, even if you move a lot, I still think buying is the way to go. Just buy smart and rent that thing. Buddy of mine has moved 3 times in the last 5 years. Bought three houses. Just rents two for now. Going to move again. Guess what? He is going to buy another house and end up renting three. I have no intention of moving, and I still own multiple homes in my area. Having other people pay your mortgage is pretty cool.
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This whole thread can be summed up here pretty much.
But hell, even if you move a lot, I still think buying is the way to go. Just buy smart and rent that thing. Buddy of mine has moved 3 times in the last 5 years. Bought three houses. Just rents two for now. Going to move again. Guess what? He is going to buy another house and end up renting three. I have no intention of moving, and I still own multiple homes in my area. Having other people pay your mortgage is pretty cool.
Big percentage of people are horrible with money & accumulate too much debt to be like your buddy. Many people have no clue about using debt to work for you or that there comes a point if you make enough money, convenience starts becoming a commodity. That's why people with money tend to pay extra to have shit ASAP
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Meh, so many things to consider in a lease vs buy decision. To make a blanket statement that one is better then the other is stupid. For those who say one over the other, look up "net advantage of Leasing" or "NAL".
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Big percentage of people are horrible with money & accumulate too much debt to be like your buddy. Many people have no clue about using debt to work for you or that there comes a point if you make enough money, convenience starts becoming a commodity. That's why people with money tend to pay extra to have shit ASAP
this x2
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lol at you guys questioning the positives of leasing when almost every rich fucker out there leases. There has to be some secret to it.
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lol at you guys questioning the positives of leasing when almost every rich fucker out there leases. There has to be some secret to it.
living beyond their means?
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mortgage/expense on a 160k house is around $600/month
rent that fucker out for $1100 all day.
buy two 160k houses (where I am actually, is surprisingly cheap for homes.. 160k for a decent 3br).
rent one for 1100-1200 and you're living for free. that's an extra $15k/year you have in the bank you'd normally be spending on rent/mortgage.
own 3, rent two out and you're making an extra $500-600/month profit.
own 4, and you're profiting about $45k/year just for being in debt on your mortgages.
and so on and so on.
Such bullshit. If someone can pay $1100 a month to rent when they can just own for $600 a month, what do you think they'll do?
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living beyond their means?
Not at all. Look at 99% of these rich types who drive bentleys, ferraris, etc... and they are all leasing.
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looks good on paper
There is a lot more stress that people don't account for and there's overhead, finding tenants, repairs, etc. But if you play your cards right and make sure you always stay on top of things it is as good as it sounds. I have two properties, one that I rent and one that I live in (also have a few international students). It pays my mortgage and all of my bills.
I also work full time so the income I make pays for my wife's schooling, paying off old consumer debt (never proclaimed to be a financial guru, made all the mistakes young idiots make), etc. There are lots of good opportunities in buying property for the purpose of renting it out depending on where you live. If you live in the right area it could be amazing. I can't wait until my homes are all paid off and I can flip them for a tidy profit.
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Not at all. Look at 99% of these rich types who drive bentleys, ferraris, etc... and they are all leasing.
in that competitive environment you need the newest of everything. it's out of style before you could ever pay it off. makes sense to lease it
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Not at all. Look at 99% of these rich types who drive bentleys, ferraris, etc... and they are all leasing.
Tax write off. You can write off a lease, but not a financed for ownership payment.
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in that competitive environment you need the newest of everything. it's out of style before you could ever pay it off. makes sense to lease it
Well, it makes sense as far as throwing your money away is concerned.
If I won the lottery or something I'd probably let myself get ONE big impulse purchase, then be smart with the rest. I can't imagine wasting that much money, even if I had a lot of money. I shudder at the thought.
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hehe... thanks
i don't understand much about money tho only the basics i learnt from the village elders
-earn as much as possible
-spend as little as possible within reasonable quality of life
-buy a decent house instead of renting
-buy a car you can easily afford, financing a car is bullshit, if not needed or affordable use bicycle or public transportation
-don't let a woman get half your things by traditional marriage
that's all i know, the markets, stocks etc remain a mystery to me ???
To marry well and to stay married is profitable in many way, including financially.
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Well, it makes sense as far as throwing your money away is concerned.
If I won the lottery or something I'd probably let myself get ONE big impulse purchase, then be smart with the rest. I can't imagine wasting that much money, even if I had a lot of money. I shudder at the thought.
my uncle's brother in law inherited millions, he leases a new mustang every year. he's also on the slow side so I doubt he even controls his money. buthe still has the new mustang every single year
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looks good on paper
This. Sounds so easy, anyone who has been a landlord knows it never ever work like this.
Getting into real estate you should exactly know what you're doing. If you're clueless, like 99,9 % of the people are, you're getting raped and slaughtered out there in our free market economy. The sharks are circling , waiting for fresh idiots. ;D
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my uncle's brother in law inherited millions, he leases a new mustang every year. he's also on the slow side so I doubt he even controls his money. buthe still has the new mustang every single year
How fucking nice it must feel to always have a brand new vehicle like that. He probably perspires that new car smell... that son of a bitch.
Even though I have no rich relatives, I still hold a glimmer of hope that someone I don't know about will die and surprise me with a handsome inheritance. One can always hope. ;D
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Meh, so many things to consider in a lease vs buy decision. To make a blanket statement that one is better then the other is stupid. For those who say one over the other, look up "net advantage of Leasing" or "NAL".
Exactly, leasing/renting is is best for certain people at a certain time in their life, while buying is best for other people at another time in their life.
It could also simply be a matter of taste and preference. If I remember correctly, I read somewhere a while back that Ralph Nader was at the time worth 3 million dollars, rented a townhouse and owned no car.
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How fucking nice it must feel to always have a brand new vehicle like that. He probably perspires that new car smell... that son of a bitch.
Even though I have no rich relatives, I still hold a glimmer of hope that someone I don't know about will die and surprise me with a handsome inheritance. One can always hope. ;D
flip side to this guy is he's fat, bald, and mentally slow as shit. I was surprised he could even drive. so he's not gonna be getting any pussy. I doubt he controls his own money. lives with his sister.
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Buying a house with a woman you are not married to is the definition of stupid.
buying a house with a woman period.
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buying a house with a woman period.
Most places consider you to be in a common-law marriage after something like 10 months and basically treat it like a marriage anyway. Always something to be aware of. Everything's rigged to fuck dudes over, even if you don't put a ring on it. Marriage just means expedited loss of half your shit. :-\
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Most places consider you to be in a common-law marriage after something like 10 months and basically treat it like a marriage anyway. Always something to be aware of. Everything's rigged to fuck dudes over, even if you don't put a ring on it. Marriage just means expedited loss of half your shit. :-\
OH BUT THE TAX BENEFITS ::) ;D
oh man
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I can't even afford a c class. ;D Naw I could I'd just be stupid to buy one. Much rather get a Tahoe or Silverado for the money.
these Tundras are taking over the streets in LA
i remember late 90s and early 2000s it was all about Tahos and Silverados, now all these IE dudes are getting those Tundras lifted and tinted out
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Such bullshit. If someone can pay $1100 a month to rent when they can just own for $600 a month, what do you think they'll do?
bullshit eh?
are you forgetting the people will have to come up with a downpayment for the house? not all these people can afford $70k or even $20k downpayments, they live check to check so of couse a family of 3-4 is gonna rent a home for $1100
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Such bullshit. If someone can pay $1100 a month to rent when they can just own for $600 a month, what do you think they'll do?
Dude, not everyone has the down payment saved up for a house purchase. Why do you think so many people rent for so much more than what a mortgage would cost? A big big benefit military get is a VA loan which doesn't require anything down.
I love GetBig. It's like going to Wal-Mart. I always feel like I'm doing pretty good after visiting comparatively.
bullshit eh?
are you forgetting the people will have to come up with a downpayment for the house? not all these people can afford $70k or even $20k downpayments, they live check to check so of couse a family of 3-4 is gonna rent a home for $1100
ohay
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OH BUT THE TAX BENEFITS ::) ;D
oh man
Yeah, I'm never one to jump for joy and recommend people get married for reasons like that. Get married for love. And be damn fucking sure that person isn't the type to snake you for all your worth. I really don't recommend marriage for most. I only got married because my wife wasn't born here and isn't your typical Western woman who'll take you for more than she should. Most women go fucking crazy and take half your shit, alimony, child support, who knows what else they're legally allowed to go for now. It's insane.
bullshit eh?
are you forgetting the people will have to come up with a downpayment for the house? not all these people can afford $70k or even $20k downpayments, they live check to check so of couse a family of 3-4 is gonna rent a home for $1100
Exactly. Around here it used to be 5%, then 10% and I think some mortgage companies might even want a bigger down deposit before they'll grant approval. We had to pay 10% down for our first home but there's a first-time buyer's credit and we saved hard. Still was a lot of cash to fork up.
This is why lots of Asians and East Indians shack up and get like 10 family members to all live in the same home. Everyone points their fingers and laughs at the Chinks and towel heads at first, but 5 or 10 years down the road you'll notice that all the children moved out and own homes of their own. And ma and pa Chink/towel head actually own multiple rental properties that the racists are renting. How's that for funny? You're paying your rent, and your rent is THEIR mortgage. Doesn't seem so stupid to grind hard and live modestly for a few years now does it?
I only wish I lived at home a lot longer and saved money. I was too proud and egotistical and moved out as soon as I turned 18 like a big man, spending all my money on junk food and impulse purchases for years before I realized I could have saved enough for a down payment on a house.
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HAHAHAHA @ this thread.
So many people on here giving out finance advice/opinions while having NSF fees in their bank accounts and living paycheck to paycheck. When you're young you only know the finance advice you pickup from people that work 9-5 40+ hours a week who don't have a clue about making significant amount of money outside the punch clock.
Go spend some time in entrepreneur circles and have your preconceived false notions of work, work, save, save, save get thrown out the window.
LOL @ "rich people throwing away their money" …how do you think they got rich in the first place? Taking advice from someone who is a salaried or hourly slave?
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HAHAHAHA @ this thread.
So many people on here giving out finance advice/opinions while having NSF fees in their bank accounts and living paycheck to paycheck. When you're young you only know the finance advice you pickup from people that work 9-5 40+ hours a week who don't have a clue about making significant amount of money outside the punch clock.
Go spend some time in entrepreneur circles and have your preconceived false notions of work, work, save, save, save get thrown out the window.
LOL @ "rich people throwing away their money" …how do you think they got rich in the first place? Taking advice from someone who is a salaried or hourly slave?
What advice did you get?
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HAHAHAHA @ this thread.
So many people on here giving out finance advice/opinions while having NSF fees in their bank accounts and living paycheck to paycheck. When you're young you only know the finance advice you pickup from people that work 9-5 40+ hours a week who don't have a clue about making significant amount of money outside the punch clock.
Go spend some time in entrepreneur circles and have your preconceived false notions of work, work, save, save, save get thrown out the window.
LOL @ "rich people throwing away their money" …how do you think they got rich in the first place? Taking advice from someone who is a salaried or hourly slave?
X10 at the bolded
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LOL @ "rich people throwing away their money" …how do you think they got rich in the first place? Taking advice from someone who is a salaried or hourly slave?
95 % inherited their fortune accumulated over generations. 3 % busted their ass, got a good education and got a high paid job (managers with silly salaries), and 2 % had a great idea and were at the right place at the right time, or are gifted athletes/artists etc.
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95 % inherited their fortune accumulated over generations. 3 % busted their ass, got a good education and got a high paid job (managers with silly salaries), and 2 % had a great idea and were at the right place at the right time, or are gifted athletes/artists etc.
Exactly. Only a small percentage of insanely rich people started from the ground up and worked hard to accumulate their riches, so pluck's girlish scoffing holds no ground. It's a lot easier to start rich and stay rich than to start poor and get rich.
Walt Disney came from an upper class family and it was his dad that helped finance the start up of Walt Disney Productions.
Bill Gates came from an upper class family who didn’t castrate him for dropping out of Harvard. (because the tuition he thus wasted wasn’t that much to them)
Steve Jobs used criminal profits from selling devices made to defraud AT&T Long Distance to help him start Apple.
H. Ross Perot came from an upper class family.
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95 % inherited their fortune accumulated over generations. 3 % busted their ass, got a good education and got a high paid job (managers with silly salaries), and 2 % had a great idea and were at the right place at the right time, or are gifted athletes/artists etc.
Not true man. This is the general thinking but there is a stat about millionaires and it was something like only 18% inherited their fortunes while 80% build their own fortunes. Most of the people that worked hard and earned it stay out of the spotlight so you never hear about them. it is the born rich spoiled brats that are all over the media.
the new generation of billionaires are something like 90% self made and not inherited.
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i think a lot of these "entrepreneur" stories are inflated tales by the moonlight
in the end great wealth comes from family fortunes and moderate wealth comes from high incomes and common sense
i think
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i think a lot of these "entrepreneur" stories are inflated tales by the moonlight
in the end great wealth comes from family fortunes and moderate wealth comes from high incomes and common sense
i think
This. A-halo a financial guru.
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Not true man. This is the general thinking but there is a stat about millionaires and it was something like only 18% inherited their fortunes while 80% build their own fortunes. Most of the people that worked hard and earned it stay out of the spotlight so you never hear about them. it is the born rich spoiled brats that are all over the media.
the new generation of billionaires are something like 90% self made and not inherited.
I think these stats are something like 90% pulled out of your ass
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Not true man. This is the general thinking but there is a stat about millionaires and it was something like only 18% inherited their fortunes while 80% build their own fortunes. Most of the people that worked hard and earned it stay out of the spotlight so you never hear about them. it is the born rich spoiled brats that are all over the media.
the new generation of billionaires are something like 90% self made and not inherited.
I got my start in the 4th grade selling the little toys you get out of gumball machines 2 for a quarter.. then I took those quarters and bought $.50 packs of Bubbalicious bubblegum and sold the pieces for $.25 each (net of $.75 per pack ;D )... and it snowballed from there. ;)
in all seriousness... usually it takes hard work AND borrowed money. Very rarely are businesses and (millionaires) made with their own savings.
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Tax write off. You can write off a lease, but not a financed for ownership payment.
Wrong u can write off if it is used for business.
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Wrong u can write off if it is used for business.
Correct. Then buy it out at the end of the lease so you've had a new vehicle all along and only pay appraised value at lease expiry
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This. A-halo a financial guru.
they told me the world of finance, economy, stock markets is some sort of abstraction and the best you can do is invest in yourself, make money and live a comfortable life well within your means
i guess i'm a bit narrow minded and not educated on the matter, but i swear all this shit sounds like a hoax, makebelieve
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Not true man. This is the general thinking but there is a stat about millionaires and it was something like only 18% inherited their fortunes while 80% build their own fortunes. Most of the people that worked hard and earned it stay out of the spotlight so you never hear about them. it is the born rich spoiled brats that are all over the media.
the new generation of billionaires are something like 90% self made and not inherited.
Tell me in todays world who got rich besides celebrities singer/actor or sport stars...no one in todays world can become rich with honesty!!! we all see these 80years old who are rich cause of some stock market etc! even BILL GATES daughter have to buy an appartment with a mortgage!
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Not true man. This is the general thinking but there is a stat about millionaires and it was something like only 18% inherited their fortunes while 80% build their own fortunes. Most of the people that worked hard and earned it stay out of the spotlight so you never hear about them. it is the born rich spoiled brats that are all over the media.
the new generation of billionaires are something like 90% self made and not inherited.
hahaha dude, do you know how much a billion dollar is? We're not talking about millionaires, we're talking bout billionaires.
There's a handful of "selfmade billionaires" in the history of the world (one in a billion being in the right place at the right time stories like Gates and Zuckerberg).
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Tell me in todays world who got rich besides celebrities singer/actor or sport stars...no one in todays world can become rich with honesty!!! we all see these 80years old who are rich cause of some stock market etc! even BILL GATES daughter have to buy an appartment with a mortgage!
You buy an apartment with a mortgage or RENT one?
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You buy an apartment with a mortgage or RENT one?
depends on whether or not you're in New York. lol
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i think a lot of these "entrepreneur" stories are inflated tales by the moonlight
in the end great wealth comes from family fortunes and moderate wealth comes from high incomes and common sense
i think
WTF
Umm, damn you halo. Don't make me take you seriously.
Not true man. This is the general thinking but there is a stat about millionaires and it was something like only 18% inherited their fortunes while 80% build their own fortunes. Most of the people that worked hard and earned it stay out of the spotlight so you never hear about them. it is the born rich spoiled brats that are all over the media.
the new generation of billionaires are something like 90% self made and not inherited.
I see where you are thinking with this, but what these don't include is how much financial/advice/life assistance these people get coming out the gate in life. Having your family cover all your education/housing for the first part of your adult life can end up giving decades head start on people who were pretty much forced in to joining something like the military just to get some help. Not to mention the social circles these people are exposed to. You will never get rich punching a clock, but the man writing that check never wants you to figure that out.
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WTF
Umm, damn you halo. Don't make me take you seriously.
i actually dont know any of this for sure
i just believe that "if something seems to good to be true, it probably is"
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i actually dont know any of this for sure
i just believe that "if something seems to good to be true, it probably is"
Well, your relationship instincts might suck, but your financial ones you might want to listen to a bit.
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Well, your relationship instincts might suck, but your financial ones you might want to listen to a bit.
i spend as little money as comfortably possible (decent food, some cheapest roids and such, but no iphones, designer clothes, traveling etc) and never rented a day in my life. bought home in my own name no bitch getting part of nothing.
i am fairly sure i will not suffer poverty and that's a good thing