Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Gossip & Opinions => Topic started by: Ex Coelis on March 13, 2012, 08:16:28 AM
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for a bodybuilder living the dream, what makes the most sense?
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walking of foot,getting looks of envy from average joe's,smashing whores right and left,who needs a car...
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Don't lease.
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Don't lease.
This ^^^
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While leasing seems attractive, it has been shown as the most expensive way to own a vehicle. I would say go with a certified pre-owned vehicle 2-3 years old and buy, especially if you can qualify for these super low interest rates offered now.
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Leasing and renting is the biggest piss wasters of money. Don't fall for that scam.
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Buy used or bring a lubricant.
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Steal one ::)
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Explain How A Car Lease Works
QUESTION: Listener asks Dave to break down the mathematical flaws in a car lease.
ANSWER: A car fleece is basically renting a car. You pay $400 a month and at the end of the new car lease, you turn it back in. If you want to buy it, you are buying it for what they estimate at the beginning of the fleece to be the market value. At the end of the lease, it’s called the residual value. If you pay $400 a month for 60 months, you pay $24,000 before turning it in. The car will not have gone down in value more than that, because the car companies would lose money if it did. When they get the car back, you will have paid them more than the car has depreciated during that time.
During that time, you’re maintaining the car as if you owned it. You’ll get charged for excessive wear and tear, or if you put too many miles on it. If you rent it for $24,000 and it went down $15,000 in value, then it cost me $9,000 to rent this car for this period of time. That is their profit during that time.
Another thing is that the interest rates on a vehicle lease are not disclosed because the Federal Trade Commission has determined that this is not a debt, so there is no federal disclosure involved. Therefore, you have no truth in lending disclosure sheet. The interest rates you get charged are unbelievably high. That’s where you’ll realize you got screwed over.
People get sold automobile leases because they are told that it’s what sophisticated people do. But as it turns out, the car companies make more money on leasing you the car than if you bought the car with cash, according to the National Auto Dealers Association. Broke people think ‘how much down and how much a month’. Rich people think ‘how much’. If you can’t pay cash for a car, then ride a bicycle. But don’t lease a car.
Also listen to the audio at the bottom of the link. This guys program helped me get out of debt when I WAS in debt. I'd swear by this guy.
http://www.daveramsey.com/index.cfm?event=askdave/&intContentItemId=10367
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Lease a car, never pay the the first months payment and keep it hidden so they can't tow it, free car.
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My advice is don't lease a car.
Unless you normally trade in your car for a new one every 3 years.
Unless you take immaculate care of your cars.
Unless you drive many less miles than the dealership allows.
Unless you want to make a down payment, then monthly payments, and never own the vehicle.
Unless you want the dealership to offer you to buy their car that you never owned for a (probably) inflated price for the value at the end of your lease.
Unless you want to worry about being penalized for driving too many miles and/or not keeping the car in pristine condition.
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Leasing only makes sense if you can write off the entire cost of as a business expense, if your employer provides you with a monthly/annual car allowance, or if your company is specifically leasing the car for you. Otherwise you should buy. If you want to buy a "nicer" car than you could otherwise afford (which is the reason many people lease) then buy a slightly used version of that car.
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Lease a car, never pay the the first months payment and keep it hidden so they can't tow it, free car.
::)
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Never understood the need to buy a NEW CAR and marry a used multiple owner wife ....
buy a used car, and buy a semi used wife
FTW
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Leasing only makes sense if you can write off the entire cost of as a business expense, if your employer provides you with a monthly/annual car allowance, or if your company is specifically leasing the car for you. Otherwise you should buy. If you want to buy a "nicer" car than you could otherwise afford (which is the reason many people lease) then buy a slightly used version of that car.
No it doesn't, not even for a business. You can do the same thing if you own the vehicle by way of a straight-line depreciation.
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for a bodybuilder living the dream, what makes the most sense?
Folks missed the "bodybuilder living the dream" part. For normal humans, buying a slightly used car makes a lot more financial sense than buying new or leased. BUT for you... pay cash
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Buy a used car is my advice
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Lease the car.....Save yourself from a headache.
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Leasing is a fancy word for renting a car. Not to state the obvious but you don't own it no matter how much you show off "your" car.
If you look long term, the amount of money spent on leasing it is a waste. Consider if you lease 3 or 4 cars in the space of 9 to 12 years and add up that money. It an incredible waste of money. A decent car will give you 10 years of relatively trouble free driving.
Try to return a leased car and not lease another from the dealer. He will nit pick every ding and nick and run up a nice parting bill. He will tell you if you lease another car he will tear up the damage bill for the car you are turning in. Forget about the bill for going over your miles.
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My oldest brother just leased a toyota prius...........hey, cant go wrong with 51 mpg, i think it is.
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Leasing is a fancy word for renting a car. Not to state the obvious but you don't own it no matter how much you show off "your" car.
If you look long term, the amount of money spent on leasing it is a waste. Consider if you lease 3 or 4 cars in the space of 9 to 12 years and add up that money. It an incredible waste of money. A decent car will give you 10 years of relatively trouble free driving.
Try to return a leased car and not lease another from the dealer. He will nit pick every ding and nick and run up a nice parting bill. He will tell you if you lease another car he will tear up the damage bill for the car you are turning in. Forget about the bill for going over your miles.
That is probably more often true than not. But back in 98 I leased a Mercedez SUV for business purposes and we used the hell out of it. It had scratches, door dings, carpets had seen better days etc. I was expecting to get hosed but it was a painless turn in with no hiddn or extra charges. We ended up buying a Lexus so they weren't getting us on that end.
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My oldest brother just leased a toyota prius...........hey, cant go wrong with 51 mpg, i think it is.
what a f a g g o t .... he must drive from coast to coast every day to feel the need to drive that piece of shit
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ive leased before and liked it. what everyone is saying is true as far as it being similar to renting, but with good credit, you can get a nice car cheap. no down payment, etc.
in 2 or 3 years do it all over again. no need to worry about depreciation, major mechanical repair etc.
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Aside from a status symbols, do you actually value your cars. I love driving, but have no need for one, even if were you work is expensive to live in your better off buying property, instead of a future rust bucket.
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what a f a g g o t .... he must drive from coast to coast every day to feel the need to drive that piece of shit
::) With the way gas prices are nowadays.....please. He got it because gas is too much for his 08 escalade he also has.
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I like leasing. Get to drive a 45k car for almost nothing. Lease all day long for me.
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I like leasing. Get to drive a 45k car for almost nothing. Lease all day long for me.
What does it cost you to drive a 45 K for three years leasing? I figure about 17 to 20K in total payments.
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What does it cost you to drive a 45 K for three years leasing? I figure about 17 to 20K in total payments.
16,5
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Nothing wrong with leasing or buying depends on your prioritites. A lot of rich people like to lease and for damn sure they can afford those high end cars. It's because they don't have to worry about maintaining as the dealer like BMW will take care of everything and guys like to change cars every 3 years or so. Buying depends if you going to keep it for a long time cause if you don't a waste as cars depreciate. buying used probably your best bet, but I don't like used cars and neither does a lot of others. Luxury cars like BMW and some others have very attractive leases. Nothing wrong with either depends on your priorities like I said
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Leasing and renting is the biggest piss wasters of money. Don't fall for that scam.
How is this?
Because you don't own it?
You do realize if you buy something (minus a house) by the time you pay for it, the value isn't anything.
Even a house generally you have to pay almost twice what the house is worth by the time you finish off a 30 year mortgage.
If you lease something or rent it, you are paying for a roof over your head or something to drive and you have many perks... Repairs are free because it's built into the agreement and it's not on you to pay for them.
Also, specifically to cars, if you like having a new car every couple of years or so... Or you're the type of person who gets a new car almost immediately after paying one off.
Why buy it?
You're going to have a payment anyway.
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Leasing, buying. . . you forgot stealing.
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Buy a bicycle.
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16,5
If that's the total down payment and monthly total that is pretty cheap for a lease.
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Assuming you don't work too far from your home (<5 miles), consider purchasing a nice bicycle.
You will never have to waste money on gas, car insurance, yearly inspections, tolls or parking.
You will not pollute the air or hurt the ozone.
You will never be stuck in traffic.
You will lose weight and build muscle.
If you buy a foldable bike, you can keep it stored in your office closet.
"1"
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Assuming you don't work too far from your home (<5 miles), consider purchasing a nice bicycle.
You will never have to waste money on gas, car insurance, yearly inspections, tolls or parking.
You will not pollute the air or hurt the ozone.
You will never be stuck in traffic.
You will lose weight and build muscle.
If you buy a foldable bike, you can keep it stored in your office closet.
"1"
That would work if it never rains or snows, and if you don't go anywhere after work and on weekends.
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That would work if it never rains or snows, and if you don't go anywhere after work and on weekends.
If it rains, bring a change of clothes and wear a raincoat.
If it snows, take public transportation.
If you're going anywhere after work or on weekends, take a cab.
Bikes are a great option.
"1"
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If it rains, bring a change of clothes and wear a raincoat.
If it snows, take public transportation.
If you're going anywhere after work or on weekends, take a cab.
Bikes are a great option.
"1"
Maybe in some places they are. WOuldn't work for me. I live too far from work, cabs are expensive and there is no bus system close to my house
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Can't believe some of you would rather throw away your money by leasing.
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Can't believe some of you would rather throw away your money by leasing.
Coach your post earlier in this thread was spot on. I read Dave Ramsey's "Total Money Makeover" about 2 years ago when I was not in a good place financially at all. Although I wouldn't say I now live his methods to a T (although if I did, I'm sure I'd be far better off lol), what I have learned from him has been very helpful.
Currently reading Donald Trump and Robert Kiyosaki's "The Midas Touch."
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Coach your post earlier in this thread was spot on. I read Dave Ramsey's "Total Money Makeover" about 2 years ago when I was not in a good place financially at all. Although I wouldn't say I now live his methods to a T (although if I did, I'm sure I'd be far better off lol), what I have learned from him has been very helpful.
Currently reading Donald Trump and Robert Kiyosaki's "The Midas Touch."
Great book. I'm in the middle of reading it as well.
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Leasing in most cases is a scam...And buying brand new in most cases is a scam.
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The minute you drive the car off the lot.....you lose roughly 5 grand.....cars depreciate like crazy. Just my 2 cents.
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No it doesn't, not even for a business. You can do the same thing if you own the vehicle by way of a straight-line depreciation.
This.
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How is this?
Because you don't own it?
You do realize if you buy something (minus a house) by the time you pay for it, the value isn't anything.
Even a house generally you have to pay almost twice what the house is worth by the time you finish off a 30 year mortgage.
If you lease something or rent it, you are paying for a roof over your head or something to drive and you have many perks... Repairs are free because it's built into the agreement and it's not on you to pay for them.
Also, specifically to cars, if you like having a new car every couple of years or so... Or you're the type of person who gets a new car almost immediately after paying one off.
Why buy it?
You're going to have a payment anyway.
If you buy 1 or 2 yrs old, don't take a loan for 60-72 months on it, say pay it off in 3-4 yrs. Still residual value and if you drive it for 10 yrs which is typically what I do, then you have 6 yrs of zero payment. So no... "always have a payment anyway" is a rationalization to waste money.
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If that's the total down payment and monthly total that is pretty cheap for a lease.
You are correct. That must not be a nice and new car. I pay alot more than that for BMW and Cadillac.
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If you buy 1 or 2 yrs old, don't take a loan for 60-72 months on it, say pay it off in 3-4 yrs. Still residual value and if you drive it for 10 yrs which is typically what I do, then you have 6 yrs of zero payment. So no... "always have a payment anyway" is a rationalization to waste money.
While I understand that you are nit-picking what I said, because you kind of like to do that... TRY TO COMPREHEND WHAT I WROTE.
"Also, specifically to cars, if you like having a new car every couple of years or so... Or you're the type of person who gets a new car almost immediately after paying one off."
If you are one of THOSE types of people, then you would still have a car payment.
So how is my statement incorrect Officer?
(http://www.horrorstew.com/images/OfficerDoofy.jpg)
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No it doesn't, not even for a business. You can do the same thing if you own the vehicle by way of a straight-line depreciation.
This. In 2010, I needed a new truck, and had already taken my draws for the year, so I bought two trucks. I needed a new truck and needed another work truck, so it worked out. I wouldn't recommend spending the money just because you have it though, had I not needed a truck I would've left the money in the account and paid the taxes on the profits. I also buy gently used, no sense in buying something brand new.
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I sell Mercedes Benz lease returns for a living.
I used to never understand why people would lease cars, it seemed like throwing money away.
After being in the business for a while, I now understand the appeal for certain cars.
Status symbol cars that are incredibly costly to maintain and are not reliable (Land Rover, Mercedes Benz, etc)
are wise to lease because you never have to deal with them when they are no longer out of warranty. Some
manufacturers provide scheduled maintenance on their leases (BMW), including basics like oil changes.
Some leases are just to cheap to pass on.... Kia's new Optima comes to mind. $200 a month for a new car.
Financing that car or paying cash for it will ultimately be more costly than the total lease once the car is returned.
I personally would never own a Mercedes Benz out right. I would only drive one leased or under factory extended
bumper to bumper warranties. I've seen these cars only 2 years old having catastrophic engine failure for no apparent
reason. The supercharger can go bad at random on some of the AMG models, $10k in parts only on a car that books
now for $22k and originally cost $120k when new 4 years ago.
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While I understand that you are nit-picking what I said, because you kind of like to do that... TRY TO COMPREHEND WHAT I WROTE.
"Also, specifically to cars, if you like having a new car every couple of years or so... Or you're the type of person who gets a new car almost immediately after paying one off."
If you are one of THOSE types of people, then you would still have a car payment.
So how is my statement incorrect Officer?
(http://www.horrorstew.com/images/OfficerDoofy.jpg)
And as you often like to do, you leave out anything you don't want to address. Your ENTIRE statement has a little more to it... like..
How is this?
Because you don't own it?
You do realize if you buy something (minus a house) by the time you pay for it, the value isn't anything.
Even a house generally you have to pay almost twice what the house is worth by the time you finish off a 30 year mortgage.
If you lease something or rent it, you are paying for a roof over your head or something to drive and you have many perks... Repairs are free because it's built into the agreement and it's not on you to pay for them.
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You are correct. That must not be a nice and new car. I pay alot more than that for BMW and Cadillac.
2011 Infiniti G37s, brand new, loaded ;)
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And as you often like to do, you leave out anything you don't want to address. Your ENTIRE statement has a little more to it... like..
How is this?
Because you don't own it?
You do realize if you buy something (minus a house) by the time you pay for it, the value isn't anything.
Even a house generally you have to pay almost twice what the house is worth by the time you finish off a 30 year mortgage.
If you lease something or rent it, you are paying for a roof over your head or something to drive and you have many perks... Repairs are free because it's built into the agreement and it's not on you to pay for them.
I only respond to statements... You made a specific response about CARS... So I responded with my original statement about CARS.
I already made a statement about houses and you didn't address anything of the sort.
When I am wrong, I admit to it... I have done so many times on this board, and as recently as yesterday.
You however REFUSE to admit that you just didn't read properly and you fucked up.
You will continue to beat home some stupid point of which is not a refute of anything... Your own statement does not respond to MY statement, because my statement has conditions in it which you refuse to acknowledge.
Sheesh man... give it a rest.
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2011 Infiniti G37s, brand new, loaded ;)
That is just crazy cheap 16.5. Funny u listed this car. My friend just leased a 2012 G37. and total out of pocket for 39 months is $24,310. He should go to your dealership.