Why I Plan to Only Buy Cars Not Lease Them

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Information Why I Plan to Only Buy Cars Not Lease Them

Title	:	Why I Plan to Only Buy Cars Not Lease Them
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If you do it right, a lease can be an asset and reduce liability
Comment from : Michael Watts

Weird compliment but I absolutely love your teeth
Comment from : Ninqi Stratton

A car is never a asset, it's always a liability
Comment from : Terrence Head

Good point but like any marketplace; when prices are ridiculously high, better to rent
Comment from : Boutonski Films

A car is always a depreciating asset It’s not like owning a home that appreciates in value Any equity, or any cash flow you think you’ve made, you’ve already lost to state sales tax (which is thousands of dollars) If you financed (which most people have to do), you’ve lost all your cash flow and equity to bank interest And I’d never try and turn my car into a moneymaker anyway unless I owned the most reliable, least expensive hybrid given the cost of fuel is outrageous, especially if you live in California where it’s nearly $600/gal, and insurance is almost impossible to get now
Comment from : JC6817

A PCP is essentially a lease unless you pay a balloon payment to own it
Comment from : MBO

I don’t agree With a lease you assume no risk With a purchase you own all the risk that you subvent with an insurance payment Starting a small business renting out your personal vehicle sounds like a horrible idea 5xing your risk and liability
Comment from : Brian Fuller

Ya but a car bought on a loan is not allowed to be used for rentals or as a work vehicle either
Comment from : AFaceForRadio

Who would ever lease a car to put it on Turo 🤔
Comment from : Kevin Grandberry

I should get a pair of glasses too
Comment from : gpttut

From my understanding you can lease an make that vehicle an asset What you you think all rental dealers are doing? Or some ride share companies/ delivery companies
Comment from : Benjamin Hill

It makes sense that a dealership wouldn't allow you to rent out their lease vehicle on Turo but you can still use that lease vehicle for business purposes like Lyft, Uber, Doordash, or other self employed ventures so long as you stay within the mileage agreement
Comment from : BrandinoJam24

Cars are not assets They depreciate
Comment from : Julie Woods

Wrong
Comment from : JP

you can sell it to carmax,just put 7k in my pocket selling my leased Tacoma to them
Comment from : Kevin

Very dumb
Comment from : matt supachat

He thinks he is smart lol
Comment from : J C

To everyone in the comments thinking that leasing is great for the consumer… I’m not sure what you’re on brAt least with a car you’re financing you’re not trapped in a set number of miles, you can modify the car, sell it early, and if something happened to it, you’d get the insurance money At the end you’ll always get money back for the car- even if it’s to pay off the remainder of the loan brIn the case of a lease, you have to put a down payment on the car, pay almost as much every month, and you’re left with paying more fees at the end Sure, the payment is cheaper every month, but you’re constantly paying and can only make money back in certain rare instances
Comment from : Halfgeek

An asset lmfao
Comment from : Last ESPADA

Duh
Comment from : John Carey

Worked in auto repair Back in the 90's when leasing took off, I found the majority of folks leased, because they could get into a vehicle about two steps above what they could have been able to buy I saw a lot of "broken hearts" at turn in time when they found they were over mileage and saw the bill for fixing mechanical issues and new tires, just to turn the vehicle back in and since they traded their old car in to get on lease in the first place, they had nothing
Comment from : Joe L

cars are never an asset! they alwaya lose value unless it’s some rare model collectible
Comment from : kian dacoda

bIn general:/b A car is most certainly depreciating in value So, if you have to finance to "own" a car that you want you're better off leasing
Comment from : Nate Clay

In my opinion the reason to not lease is because money factors are out of control which is adding upwards of 70 onto otherwise normal payments
Comment from : Turk Wendell

You can buy the car after a lease for the residual and if you got a good deal that ends up being a pretty good option
Comment from : Turk Wendell

This was a terrible reason to stop lol cars depreciate immediately
Comment from : Jodie’s Way

To each their own I'll be leasing because I actually do my own research
Comment from : Alternate Movie Trailers

What the hell are you looking for? Create a video or drive Don’t do both! TF
Comment from : The Photo Booth Chick

So dumb
Comment from : James King

A car is a depreciating asset Buy assets that appreciate Lease assets which depreciate JD Rockfeller
Comment from : Jim F

You can sell the right to a lease
Comment from : Benjamin Johnson III

You can lease to buy
Comment from : C

I hate dealing with mechanicsI mean I'd rather die than go to a mechanic🤷‍♂️
Comment from : Battle Axe82

That’s very true Over the last couple of years the people who leased there cars received thousands upon thousands of dollars trading in there leased vehicles Sometimes the lease car they drive for a couple years was completely free You can’t lease a car and realize equity!!!
Comment from : Edward Fiorvante

Depends on leasing agreements and you might lose money in depreciation if bought
Comment from : inkdo

Don’t buy depreciating assets
Comment from : JakeCorbinB

The logic in the beginning wasn’t sounds whatsoever Oh no your crap car broke down 20 times this year Well duh
Comment from : Logan Williams

You literally had no advice Car into cash flow? Don’t lease if you’re going to Uber? Obviously?
Comment from : Jose V

Dude a car is not an asset, plus you actually paid for the vehicle in full with your signature The bank double dips when you make monthly payments There is NO SUCH THING as an auto loan Research it and watch how this info changes your life
Comment from : La-Madrina-Oracle

A car is never an asset
Comment from : mushroomzulu

Sorry That's not good reasoning If you own a business, leasing can be a good offset against taxes Buying a car just to have an asset is flawed thinking You're spending $20k to have an asset that's only worth $10k in 5 years time You car can generate cash flow whether you own it or lease it, depending on your business
Comment from : Paul Rawlinson

I am about buying a car cash, however car is not a financial asset nor an investment as it loses it’s value So doing a lease is not bad Having a vehicle is only a personal asset
Comment from : Aniko R

It is an asset but whether or not that asset is successful in i assume the purpose you’ve given it is accumulating a passive profit This won’t happen on just any car and even if you can find and afford a car that would go against the norm and actually increase in value over time, you wouldn’t be able to drive it much because it’s dramatically more valuable the less it’s driven
Comment from : SHLATTWIDOW

People that make videos like this keep calling vehicles assets They are liabilities Not assets
Comment from : TortillaChip

Making it an asset comes with a lot of downside the vehicle’s depreciation would increase drastically, and you’re at risk of completely losing the car It’s good money but not if it’s your daily
Comment from : ItsPrinceJay

0:00
Comment from : AnyPointofVision

Buy reliable Lease Luxury/ Sport
Comment from : G Rod

Cars are depreciating assets, not worth buying just for the sake of having an asset in this case There are other benefits to buying but not solely this
Comment from : riaz zaman

You can if you buy it through your business 🧠
Comment from : shandon johnson

I’m not trying to put a Mercedes Benz amg on turo tho
Comment from : QDub

You also can’t make a car an asset when you buy it 😂
Comment from : Dennis Henderson

So how much do you net a month renting on turo/hyrecar? Thanks
Comment from : Achilleslock

dude bought a pair a glasses and had an aha moment
Comment from : oscar nava

Well duh,,brLease is meant for Personal daily driver, not businessbrbrIf you want to make living using your car, buy used car orbrbuy new car made last year that usually have considerable discount and perks
Comment from : ZAR

This has got to be the most confusing video I’ve ever seen lolbrbr1 A car will never be an asset unless you have a company, there is no difference between an owned and a leased car herebrbr2 Owning a car is far more of a liability than leasing a car just as owning a house is far more of a liability than leasing onebrbr3 You should only be leasing what could be considered a “luxury car” A car you only plan to own for a few years, something that possibly goes out of style or goes out of date in terms of features This way you only pay for depreciation on the car rather than the full price of the car when you planned on getting rid of it rather than riding it till death anyways
Comment from : zB Matt

The problem when you lend out your car is that your car insurance might not cover and damage or lawsuits that might spring up
Comment from : Steve Masters