View Poll Results: Do you lease, finance or pay cash for cars?
Lease
7
8.86%
Finance
15
18.99%
I own my cars, CASH!
57
72.15%
Voters: 79. You may not vote on this poll
Do you lease, finance or pay cash for your cars?
Jan 24, 2011 | 01:46 AM
#22
They they are. Walk in with one of these and your golden
On a more serious note, I think it all depends on your situation. I personally financed my car because I had no credit and viewed it as an opportunity to start building up some credit.
On a more serious note, I think it all depends on your situation. I personally financed my car because I had no credit and viewed it as an opportunity to start building up some credit.
Jan 24, 2011 | 02:17 AM
#23
Teamspeed Pro
Joined: May 2008
Posts: 15,199
From: MidEast
I my view people lease or finance for two reasons
1. They have better returns on their cash than the charges incurred
2. They can afford the payments plus charges but may not have the funds for a one time payment.
If your are over extending your finances just to drive around in a new car then you have issues… imo
That said… what I tend to do for the company cars is both lease and buy depending on the vehicle and the employee that will use it. For the most; if the employee can find me a buyer for my book value or better after 3 years I sell and get him a new car… if he cannot then he did not take care of the car and must use it for another 2 years (he also risks loosing the privilege).
1. They have better returns on their cash than the charges incurred
2. They can afford the payments plus charges but may not have the funds for a one time payment.
If your are over extending your finances just to drive around in a new car then you have issues… imo
That said… what I tend to do for the company cars is both lease and buy depending on the vehicle and the employee that will use it. For the most; if the employee can find me a buyer for my book value or better after 3 years I sell and get him a new car… if he cannot then he did not take care of the car and must use it for another 2 years (he also risks loosing the privilege).
Jan 24, 2011 | 02:20 AM
#24
Rolex Fanboy
Joined: Feb 2008
Posts: 8,638
From: In a dream....please don't wake me
I my view people lease or finance for two reasons
1. They have better returns on their cash than the charges incurred
2. They can afford the payments plus charges but may not have the funds for a one time payment.
If your are over extending your finances just to drive around in a new car then you have issues… imo
That said… what I tend to do for the company cars is both lease and buy depending on the vehicle and the employee that will use it. For the most; if the employee can find me a buyer for my book value or better after 3 years I sell and get him a new car… if he cannot then he did not take care of the car and must use it for another 2 years (he also risks loosing the privilege).
1. They have better returns on their cash than the charges incurred
2. They can afford the payments plus charges but may not have the funds for a one time payment.
If your are over extending your finances just to drive around in a new car then you have issues… imo
That said… what I tend to do for the company cars is both lease and buy depending on the vehicle and the employee that will use it. For the most; if the employee can find me a buyer for my book value or better after 3 years I sell and get him a new car… if he cannot then he did not take care of the car and must use it for another 2 years (he also risks loosing the privilege).
Good policy actually, inspire to appreciate and you protect your investment and your company reputation all in one.
Jan 24, 2011 | 02:45 AM
#27
Teamspeed Pro
Joined: May 2008
Posts: 15,199
From: MidEast
Thank you... what actually happens is that they take very good care of the car cause they themselves want to buy it or someone close to them
