Lease new vs buy old?

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That is a valid question, This all happened long ago, so recalling my exact financial state at the time is difficult. I do, however, recall having to make tough choices on which bills had priority. My truck was not the only thing I purchased that I could not afford. All of that said, if given the choice of worrying about having enough working capital to operate my truck and worrying about how to get another truck because it was repossessed....I would take the former every time

As far as your definition of a "healthy economy", we will just have to agree to disagree. Mostly because expressing my economic opinions has already alienated enough people. But here are some actual numbers to consider:

............322,167,000.......US POPULATION
..............45,247,663........FOOD STAMP RECIPIENTS
............160,525,932........RECIPIENTS OF SOME KIND OF GOVERNMENT BENEFITS
............119,348,101........ACTUAL TAXPAYERS
..............23,640,019........GOVERNMENT WORKERS
17,286,800,000,000........TOTAL PERSONAL DEBT OF CITIZENS UP 106% SINCE 2000
.....................53,656........AVG PERSONAL DEBT PER CITIZEN
.......................7,825........AVG SAVINGS PER CCITEZEN

It would be vary difficult to say that our economy is healthy when half of our population gets benefits of some kind and only slightly more than a third pay any taxes. As far as personal debt, well that should be obvious. Just look at the biggest number and the smallest number.

As far as your example I think it proves my point better than yours. If that many Americans are standing in line for the opportunity to buy things on credit (these numbers say that is what they are doing) then my point has been proven.

I do agree with some of what you say, I am trying to make several points one is that these are the things people need to consider PRIOR to signing on the dotted line. Most do not. Some (maybe most) come on here only to find someone to validate the emotional decision they have already made, not to actually seek advice. I just believe all sides should be considered beforehand and it needs to be a decision based on facts not emotion.

As far as liquidating assets during the hard times, well if you owe more than it's worth that doesn't work so well (and by definition not an asset), and on a lease well, good luck. Also, if it comes to that because of bad economic times it is also happening to others making for a soft resale market.

My opinions are worth exactly what others pay for them, NOTHING. But I believe that is is always better if all sides are heard. Especially when some are so quick to tell people what they want to hear.

One more thing, you are not the norm. In the way you express yourself and the manner in which you carry on this discussion (not emotional), the things you say like "your partners" while referring to financial institutions, you reveal a certain level of business experience. People like you making a business decision AFTER crunching all the numbers and looking at all the angles does not concern me in the least. What does concern me is when people make these decisions without that knowledge or experience and support it by finding a people pleasing personal cheerleader on some forum.

 

Good grief!!!!!

 

a little wordy???
or the numbers????

LOL

 

Your post

 

Just answering the man's question while drinking Cuban coffee. LOL

 

There isn't a major company out there than didn't start with a small business loan or run across a large chunk of money somewhere down the line. And not everyone can suck it up as a company driver for 30years to hope that the last few are kind to them when they can finally afford that truck. It's a gamble, always has been always will be. New/used leased/cash. Every day we are 1 moron away from ending our careers. So why not just stay focused on how to profit from the tools available to us?

 

I'm quite sure there are threads for that. This thread, however, is a discussion of lease vs cash purchase which evolved briefly into a discussion about the economy as it relates to that choice. Do you need help finding the thread on "how to profit from the tools available to us"?

 

Nah I think I know my way around. Thanks.

 

Please give me the source of this bold statement. I worked for years as an investment banker taking companies public and can name thousands of companies that were not started on debt. Your statement is ABSOLUTLY NOT TRUE.

 

Oh boy. Another stock broker walked away from his seven figure year job on wall street to drive trucks.