[Raybyrnes]

You can get a free credit score from Transunion on a monthly basis when you open up a Washington Mutual Credit card. I never use teh card but I routineline log in to keep up to date on credit. It will also send you an email alert of there is a change in credit of 20 point or more. Great tool to have avaiable. The credit card division was previously Providian.

[Raybyrnes]

You can get a free credit score from Transunion on a monthly basis when you open up a Washington Mutual Credit card. I never use teh card but I routineline log in to keep up to date on credit. It will also send you an email alert of there is a change in credit of 20 point or more. Great tool to have avaiable. The credit card division was previously Providian.

[Raybyrnes]

You can get a free credit score from Transunion on a monthly basis when you open up a Washington Mutual Credit card. I never use teh card but I routineline log in to keep up to date on credit. It will also send you an email alert of there is a change in credit of 20 point or more. Great tool to have avaiable. The credit card division was previously Providian.

[Raybyrnes]

You can get a free credit score from Transunion on a monthly basis when you open up a Washington Mutual Credit card. I never use teh card but I routineline log in to keep up to date on credit. It will also send you an email alert of there is a change in credit of 20 point or more. Great tool to have avaiable. The credit card division was previously Providian.

[Raybyrnes]

You can get a free credit score from Transunion on a monthly basis when you open up a Washington Mutual Credit card. I never use teh card but I routineline log in to keep up to date on credit. It will also send you an email alert of there is a change in credit of 20 point or more. Great tool to have avaiable. The credit card division was previously Providian.

[Raybyrnes]

Car payments are perpetual. They either come in the form of a payment or in the form or depreciation. Addionally maintenace on cars goes up substantially over time. So your trade off is newer and more reliable (slightly higher cost if well negotiated) vs older less reliable potentially lower cost.

With respect to education. I will throw this out there. Those who say leasing is more expensive miss the fact that for many buyers they end up wanting new cars and trade them in every three of 4 years. They go in with a mind set that they are going to hold the car or give it to a child etc and then thing s change. Thye get kille don the back end.

Also in the event that a model changes or if a car company floods the rental car market with the same make and model that you bought it accelerated the depreciation. Therefore the lease in this scenario protects the borrwer because it inflated the residual value of the car.

As I mentioned I don’t really have a bias. I financed a New Accord. I will either sell it at 95000 miles or run it until the tires fall off.

I personally believe that unless you are mechanically inclined and can identify the mechanics of a car buying used costs more as opposed to less. There is a huge variation between grandma jones driving a BMW vs the 18 year old rich kid. WHereas when buying new the car becomes a commodity. It is identical at 2 differnet dealerships therefore price is best negotiated at this level.

To summarize buying used can present opportunity for savings (grandma jones) but it can als present opportunities for loss(18 year old rich kid). One bad experience wipes out a lifetime of savings. JMTC

[Raybyrnes]

Car payments are perpetual. They either come in the form of a payment or in the form or depreciation. Addionally maintenace on cars goes up substantially over time. So your trade off is newer and more reliable (slightly higher cost if well negotiated) vs older less reliable potentially lower cost.

With respect to education. I will throw this out there. Those who say leasing is more expensive miss the fact that for many buyers they end up wanting new cars and trade them in every three of 4 years. They go in with a mind set that they are going to hold the car or give it to a child etc and then thing s change. Thye get kille don the back end.

Also in the event that a model changes or if a car company floods the rental car market with the same make and model that you bought it accelerated the depreciation. Therefore the lease in this scenario protects the borrwer because it inflated the residual value of the car.

As I mentioned I don’t really have a bias. I financed a New Accord. I will either sell it at 95000 miles or run it until the tires fall off.

I personally believe that unless you are mechanically inclined and can identify the mechanics of a car buying used costs more as opposed to less. There is a huge variation between grandma jones driving a BMW vs the 18 year old rich kid. WHereas when buying new the car becomes a commodity. It is identical at 2 differnet dealerships therefore price is best negotiated at this level.

To summarize buying used can present opportunity for savings (grandma jones) but it can als present opportunities for loss(18 year old rich kid). One bad experience wipes out a lifetime of savings. JMTC

[Raybyrnes]

Car payments are perpetual. They either come in the form of a payment or in the form or depreciation. Addionally maintenace on cars goes up substantially over time. So your trade off is newer and more reliable (slightly higher cost if well negotiated) vs older less reliable potentially lower cost.

With respect to education. I will throw this out there. Those who say leasing is more expensive miss the fact that for many buyers they end up wanting new cars and trade them in every three of 4 years. They go in with a mind set that they are going to hold the car or give it to a child etc and then thing s change. Thye get kille don the back end.

Also in the event that a model changes or if a car company floods the rental car market with the same make and model that you bought it accelerated the depreciation. Therefore the lease in this scenario protects the borrwer because it inflated the residual value of the car.

As I mentioned I don’t really have a bias. I financed a New Accord. I will either sell it at 95000 miles or run it until the tires fall off.

I personally believe that unless you are mechanically inclined and can identify the mechanics of a car buying used costs more as opposed to less. There is a huge variation between grandma jones driving a BMW vs the 18 year old rich kid. WHereas when buying new the car becomes a commodity. It is identical at 2 differnet dealerships therefore price is best negotiated at this level.

To summarize buying used can present opportunity for savings (grandma jones) but it can als present opportunities for loss(18 year old rich kid). One bad experience wipes out a lifetime of savings. JMTC

[Raybyrnes]

Car payments are perpetual. They either come in the form of a payment or in the form or depreciation. Addionally maintenace on cars goes up substantially over time. So your trade off is newer and more reliable (slightly higher cost if well negotiated) vs older less reliable potentially lower cost.

With respect to education. I will throw this out there. Those who say leasing is more expensive miss the fact that for many buyers they end up wanting new cars and trade them in every three of 4 years. They go in with a mind set that they are going to hold the car or give it to a child etc and then thing s change. Thye get kille don the back end.

Also in the event that a model changes or if a car company floods the rental car market with the same make and model that you bought it accelerated the depreciation. Therefore the lease in this scenario protects the borrwer because it inflated the residual value of the car.

As I mentioned I don’t really have a bias. I financed a New Accord. I will either sell it at 95000 miles or run it until the tires fall off.

I personally believe that unless you are mechanically inclined and can identify the mechanics of a car buying used costs more as opposed to less. There is a huge variation between grandma jones driving a BMW vs the 18 year old rich kid. WHereas when buying new the car becomes a commodity. It is identical at 2 differnet dealerships therefore price is best negotiated at this level.

To summarize buying used can present opportunity for savings (grandma jones) but it can als present opportunities for loss(18 year old rich kid). One bad experience wipes out a lifetime of savings. JMTC

[Raybyrnes]

Car payments are perpetual. They either come in the form of a payment or in the form or depreciation. Addionally maintenace on cars goes up substantially over time. So your trade off is newer and more reliable (slightly higher cost if well negotiated) vs older less reliable potentially lower cost.

With respect to education. I will throw this out there. Those who say leasing is more expensive miss the fact that for many buyers they end up wanting new cars and trade them in every three of 4 years. They go in with a mind set that they are going to hold the car or give it to a child etc and then thing s change. Thye get kille don the back end.

Also in the event that a model changes or if a car company floods the rental car market with the same make and model that you bought it accelerated the depreciation. Therefore the lease in this scenario protects the borrwer because it inflated the residual value of the car.

As I mentioned I don’t really have a bias. I financed a New Accord. I will either sell it at 95000 miles or run it until the tires fall off.

I personally believe that unless you are mechanically inclined and can identify the mechanics of a car buying used costs more as opposed to less. There is a huge variation between grandma jones driving a BMW vs the 18 year old rich kid. WHereas when buying new the car becomes a commodity. It is identical at 2 differnet dealerships therefore price is best negotiated at this level.

To summarize buying used can present opportunity for savings (grandma jones) but it can als present opportunities for loss(18 year old rich kid). One bad experience wipes out a lifetime of savings. JMTC

[Raybyrnes]

That’s a lot of money for a used car when someone is just starting out and trying to build wealth.

I have no bias towards leasing, buying, or financing. All have benefits and drawbacks. In general when someone is starting out you are probably better off to finance a vehicle that is proportionate to your income.

The reason I say this is that your mileage patterns can change dramatically, your job can change, you can relocate, so leasing has constraints.

If you had cash and used it towards a car you would lose valuable liquidity and opportunity costs of holding the cash. Additonqally you may not have 23K sitting around to pay for the car.

Financing is a good option if you have GOOD credit. right now interest rates for new cars are around 5.5% to 6% on 60 months of financing. The payment is higher than a lease but you have a greater amount of flexibility at the end of the finance as to whther you wnat to keep the car, seel it trade it in etc without the dealership dictating the terms.

[Raybyrnes]

That’s a lot of money for a used car when someone is just starting out and trying to build wealth.

I have no bias towards leasing, buying, or financing. All have benefits and drawbacks. In general when someone is starting out you are probably better off to finance a vehicle that is proportionate to your income.

The reason I say this is that your mileage patterns can change dramatically, your job can change, you can relocate, so leasing has constraints.

If you had cash and used it towards a car you would lose valuable liquidity and opportunity costs of holding the cash. Additonqally you may not have 23K sitting around to pay for the car.

Financing is a good option if you have GOOD credit. right now interest rates for new cars are around 5.5% to 6% on 60 months of financing. The payment is higher than a lease but you have a greater amount of flexibility at the end of the finance as to whther you wnat to keep the car, seel it trade it in etc without the dealership dictating the terms.

[Raybyrnes]

That’s a lot of money for a used car when someone is just starting out and trying to build wealth.

I have no bias towards leasing, buying, or financing. All have benefits and drawbacks. In general when someone is starting out you are probably better off to finance a vehicle that is proportionate to your income.

The reason I say this is that your mileage patterns can change dramatically, your job can change, you can relocate, so leasing has constraints.

If you had cash and used it towards a car you would lose valuable liquidity and opportunity costs of holding the cash. Additonqally you may not have 23K sitting around to pay for the car.

Financing is a good option if you have GOOD credit. right now interest rates for new cars are around 5.5% to 6% on 60 months of financing. The payment is higher than a lease but you have a greater amount of flexibility at the end of the finance as to whther you wnat to keep the car, seel it trade it in etc without the dealership dictating the terms.

[Raybyrnes]

That’s a lot of money for a used car when someone is just starting out and trying to build wealth.

I have no bias towards leasing, buying, or financing. All have benefits and drawbacks. In general when someone is starting out you are probably better off to finance a vehicle that is proportionate to your income.

The reason I say this is that your mileage patterns can change dramatically, your job can change, you can relocate, so leasing has constraints.

If you had cash and used it towards a car you would lose valuable liquidity and opportunity costs of holding the cash. Additonqally you may not have 23K sitting around to pay for the car.

Financing is a good option if you have GOOD credit. right now interest rates for new cars are around 5.5% to 6% on 60 months of financing. The payment is higher than a lease but you have a greater amount of flexibility at the end of the finance as to whther you wnat to keep the car, seel it trade it in etc without the dealership dictating the terms.

[Raybyrnes]

That’s a lot of money for a used car when someone is just starting out and trying to build wealth.

I have no bias towards leasing, buying, or financing. All have benefits and drawbacks. In general when someone is starting out you are probably better off to finance a vehicle that is proportionate to your income.

The reason I say this is that your mileage patterns can change dramatically, your job can change, you can relocate, so leasing has constraints.

If you had cash and used it towards a car you would lose valuable liquidity and opportunity costs of holding the cash. Additonqally you may not have 23K sitting around to pay for the car.

Financing is a good option if you have GOOD credit. right now interest rates for new cars are around 5.5% to 6% on 60 months of financing. The payment is higher than a lease but you have a greater amount of flexibility at the end of the finance as to whther you wnat to keep the car, seel it trade it in etc without the dealership dictating the terms.

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