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Discussion in 'General Carpet Cleaning & Upholstery Discussion' started by Nick Nellos, Apr 29, 2012.

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  1. Nick Nellos
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    your Personal Vehicle ? Work Truck?

    I own my stuff out right . When my daughter was looking at new vehicles the salesman tried to talk her in to a lease.

    what is your opinion on the subject?
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    Nick Nellos, Apr 29, 2012
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  2. TheEyeball
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    Why?
    TheEyeball, Apr 29, 2012
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  3. jaymark1
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    you're asking two different questions here, work and personal.

    For personal and more specifically buying a car, there isn't a financial decision worse then leasing, runner up might be buying new. Flushing your money down the toilet is almost as dumb.

    Buy used, pay majority in cash if you can or at least get a loan from a bank first.

    My wife and I personally buy from the the Mannheim auto auction, pay only 2/3 KBB price(in cash), but you gotta know a guy.
    jaymark1, Apr 29, 2012
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  4. extremecleantn
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    The plus side to a lease would be, you make a payment for around 3 years and then get a new one after that. Keeping the same payment and always having new equipment. There are plenty of negatives, but that is one positive that most people look at.
    extremecleantn, Apr 29, 2012
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  5. jaymark1
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    I almost fell of my chair, this is whats amazingly wrong with the financial education system in America. You are paying for nothing, you dont own a thing.
    jaymark1, Apr 29, 2012
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  6. extremecleantn
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    Leasing vs owning on your personal vehicle is different. I would not want to do that at all, but there are plenty of people (including the very wealthy) that do it. If you plan on getting a new vehicle before your old one is paid off, it's not a bad option. It's just an endless string of payments. I myself haven't had a car payment in 7 years. But the newest car we own is an '03. Some people look at it like they will always have a car payment.
    extremecleantn, Apr 29, 2012
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  7. jaymark1
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    ahh ok, thought you were talking personal

    on a side note, did you know 75% of high end cars are leased?

    People trying to keep up with appearances me thinks
    jaymark1, Apr 29, 2012
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  8. extremecleantn
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    I agree 100%. It's just an option for many people, just ask Interlink.
    extremecleantn, Apr 29, 2012
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  9. theshining247
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    Leasing is only beneficial when it's something very expensive to maintain and repair, ex. Bentley, Rolls Royce, AMG Benz's etc. Plus these super cars depreciate worse then anything else unless it has collectors value. Not many people know that the 30K mile service on some of these cars is $10-20K! Brake jobs that cost $8K! I personally considered leasing a benz but I like to eventually own my stuff so I never did. I would never a brand new car, boat, motorcycle again. If your smart about shopping then you can find almost new items on the cheap!

    I never looked into leasing work equipment. WHat is the cost of something like that?
    theshining247, Apr 29, 2012
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  10. extremecleantn
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    I'm under the impression that a Interlink lease program for a van with a TM installed and ready to go clean carpets is in the $900 range.
    extremecleantn, Apr 29, 2012
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  11. Frank DiGi
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    My daughter leases all her cars and SUVs .. At first I was not for it.. But after I say it is good idea.. Prices of buying something nice are high lease then you like it buy it out at the end of lease, If not turn it in for a new one..
    Frank DiGi, Apr 29, 2012
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  12. theshining247
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    Yea but if there is a ding, bald tire, stain on the interior, ANYTHING, they charge the hell out of you if you ever want to get out of the lease. My friend had to pay $1500 to get out of his BMW and he has 10K miles UNDER what he was allowed to drive. ANd the tires he bought before he turned it in weren't factory specs so they charged him for that as well.
    theshining247, Apr 29, 2012
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  13. theshining247
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    So around $30 a day for lease payment, 30-40 a day for gas, supplies and chemicals, hmmm. U can keep that payment!
    theshining247, Apr 29, 2012
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  14. Frank DiGi
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    I heard that too from a lady I know about BMW.. She had to buy tires.. My Daughter paid extra for 2500 protection coverage from Ford for minor damages like door dings ect. I think GM offers one too.. Not sure about high end cars..
    Frank DiGi, Apr 29, 2012
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  15. TheEyeball
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    No, I want to know why Nick wants to know. He sells truck mounts. I don't want to be doing his market research for free. I would want to collect consultation fees for that sort of thing.
    TheEyeball, Apr 29, 2012
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  16. TimM
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    I would never lease anything, business or personal. Or as Dave ramsey calls it Flease.
    TimM, Apr 29, 2012
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  17. Nick Nellos
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    Ross , it's too bad you don't like to participate. I am not looking for market research. I was just seeing what people thought. My personal thought is to buy out right even getting a bank loan, then owning the product.

    Leases are good if you are over extended on credit. My self I like to own the property. Maybe you will answer the phone this week.
    Nick Nellos, Apr 29, 2012
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  18. Torrey W
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    I don't lease things Personaly, and my Tm and van were also on a standard loan I almost have paid off.

    However my understanding is I can lease my next company vehicle, like say a suv for doing estimates and warrantee work and write off 100% of the payment.

    I don't believe I would lease a TM because I believe you can maintenance it and keep it working for you for years to come.

    But on the flip side of that, I heard of leases were you are able to write off the entire payment, then at the end the buy out is like $1.

    I'm looking into these aspects with my CPA this year once my TM is paid off.
    Torrey W, Apr 29, 2012
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  19. jaymark1
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    ahh frank you're killing me here.

    Granted, its her money, but not only is she throwing it at thin air, she even goes for the protection package???

    Its all a scam, just like extended warranties on electronics. Most leases cover damage up to a dollar bill.

    I made the dumb move of leasing right after college because my beater mustang finally died, 1 week before a leady pulled out and I hit her, The damage was covered under my Ford lease
    jaymark1, Apr 29, 2012
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  20. jaymark1
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    I cant look at this topic anymore, it gets me upset and worked up.
    jaymark1, Apr 29, 2012
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