Mathew Knowles on Meek Mill Talking Down on Leasing Cars

[SouthSac916]

Beyonce is the reason Beyonce is on top

So pops wasn’t a factor?

 

[CrimsonTider]

So pops wasn’t a factor?

make another Bey

 

[TELL ME YA CHEESIN FAM?]

A lotta car collectors out there
He won't call Jay Leno stupid for owning all em cars

 

[Slystallion]

Matthew Knowles is an idiot.
This is why he was selling Destiny Child memorabilia at a yard sale. SMH Beyonce's father Mathew Knowles 'was selling his daughter's memorabilia' | Daily Mail Online

Leasing makes no financial sense because you spend money and after the lease you have no asset to show for the money spent. Sure cars depreciate, but its better to have a depreciated car than no asset at all and the same lost money.

SMH

Completely depends on buying habits and time frame you will have car. Also whether or not you have a mechanic you trust that's a family member to deal with issues after all the warranties are gone

There is no one size fits all right answer

 

[Donald J Trump]

Matthew Knowles is an idiot.
This is why he was selling Destiny Child memorabilia at a yard sale. SMH Beyonce's father Mathew Knowles 'was selling his daughter's memorabilia' | Daily Mail Online

Leasing makes no financial sense because you spend money and after the lease you have no asset to show for the money spent. Sure cars depreciate, but its better to have a depreciated car than no asset at all and the same lost money.

SMH

Nope. Not when you takin about quarter to half a mil cars that after a few years, worth less than a tenth of a mill and have high maintenance costs

 

[HacksawJimThuggin]

Buying a car only makes sense if:

- You drive a LOT

- You're buying cash

- You're buying something a few years old

- You plan on keeping the car for a while after you've paid it off




The majority of the time, if you don't fall into all of the above, leasing is the better option.

I lease all my cars for the same reason he stated in the vid (better corporate tax write off). I don't know why leasing has a stigma, all it means is that you're just financing the depreciation of the car (the depreciation amount is agreed to at the BEGINNING of the lease) rather than the full amount of the car.


So if a car costs $50k and 36 months later it'll be worth $30k, and I know that I'm only going to want to drive it for those 3 years and then will want another new car, why would I not just finance the $20k difference ($50k-$30k) rather than financing the entire $50k (aka my monthly payment will be MUCH higher) and still having a $30k car on my hands 3 years later that I no longer want to drive and now need to get rid of. Not only that, but in this example, when you lease, the dealer is only charging you interest on the $20k that you borrowed as opposed to charging you interest on $50k if you bought it.



I honestly just don't think most people how leasing a car actually works.

 

[FreshAIG]

"We don't lease, we buy the whole car, as you should" - Jay-Z "Can I Live"

 

[David_TheMan]

Completely depends on buying habits and time frame you will have car. Also whether or not you have a mechanic you trust that's a family member to deal with issues after all the warranties are gone

There is no one size fits all right answer

There is a smart money answer and its always never lease because you get no ROI.

 

[David_TheMan]

Nope. Not when you takin about quarter to half a mil cars that after a few years, worth less than a tenth of a mill and have high maintenance costs

Nope.
You spending money on a 1/4 mil car and you have nothing to show for it after your lease you just threw money in the trash. You would have been better off spending that money you used for a high end lease on buying a mid tier car and atleast having the car afterwards, again, atleast you have an asset.

 

[Kobes Two Jerseys]

There is a smart money answer and its always never lease because you get no ROI.

You do realize you can still buy the car after the lease is over, right?

 

[Slystallion]

There is a smart money answer and its always never lease because you get no ROI.

Your not factoring personal cash flow...and no car will ever give you a return on investment it's always a loss unless your talking special edition you barely drive and keep around for 50 years

If someone just buys a new car as soon as they finish the payments versus someone who's leasing the leaser will always have paid less on a year to year basis until They have to deal with trading in or selling the old car and the salvage value plays into it..so as a whole you probably edge out by buying but you don't see the benefit until you sell the old car ... But the 200 dollars you saved every month leasing you could have saved and invested and got a return on that

Where it makes me the most sense to buy is if your keeping the car 10 to 15 years are fantastic at maintenance schedules and have a family member as a mechanic and don't live in a rust belt area

 

[666 ReVeNGe 666]

Buying a car only makes sense if:

- You drive a LOT

- You're buying cash

- You're buying something a few years old

- You plan on keeping the car for a while after you've paid it off




The majority of the time, if you don't fall into all of the above, leasing is the better option.

I lease all my cars for the same reason he stated in the vid (better corporate tax write off). I don't know why leasing has a stigma, all it means is that you're just financing the depreciation of the car (the depreciation amount is agreed to at the BEGINNING of the lease) rather than the full amount of the car.


So if a car costs $50k and 36 months later it'll be worth $30k, and I know that I'm only going to want to drive it for those 3 years and then will want another new car, why would I not just finance the $20k difference ($50k-$30k) rather than financing the entire $50k (aka my monthly payment will be MUCH higher over the 3 years) and still having a $30k car on my hands 3 years later that I no longer want to drive and now need to get rid of. Not only that, but in this example, when you lease, the dealer is only charging you interest on the $20k that you borrowed as opposed to charging you interest on $50k if you bought it.



I honestly just don't think most people how leasing a car actually works.

I agree.

I wish i had told my wife to lease her car.

Those 2, 3 years go fast as hell man.

And she can upgrade as often as she likes.

I got my old ass car and never giving it up.

No car payment

 

[HacksawJimThuggin]

Your not factoring personal cash flow...and no car will ever give you a return on investment it's always a loss unless your talking special edition you barely drive and keep around for 50 years

If someone just buys a new car as soon as they finish the payments versus someone who's leasing the leaser will always have paid less on a year to year basis until They have to deal with trading in or selling the old car and the salvage value plays into it..so as a whole you probably edge out by buying but you don't see the benefit until you sell the old car ... But the 200 dollars you saved every month leasing you could have saved and invested and got a return on that

Where it makes me the most sense to buy is if your keeping the car 10 to 15 years are fantastic at maintenance schedules and have a family member as a mechanic and don't live in a rust belt area

Exactly.

 

[HacksawJimThuggin]

I agree.

I wish i had told my wife to lease her car.

Those 2, 3 years go fast as hell man.

And she can upgrade as often as she likes.

I got my old ass car and never giving it up.

No car payment

I feel you. I'm just honest with myself and I know that that I like having a new whip every few years, so I'll never attain the actual benefit of purchasing a car because I'll never keep it long enough to drive it for years after it's been paid off. It's convenient knowing the residual value of the car is pre-determined and I can just turn it in and get a new one after 2-3 years and not owe anything instead of worrying about being upside down on the car when I go to trade it in. Plus, the monthly payments are lower the entire time because I'm only financing the depreciation as opposed to the entire cost of the car.

 

[David_TheMan]

Your not factoring personal cash flow...and no car will ever give you a return on investment it's always a loss unless your talking special edition you barely drive and keep around for 50 years

If someone just buys a new car as soon as they finish the payments versus someone who's leasing the leaser will always have paid less on a year to year basis until They have to deal with trading in or selling the old car and the salvage value plays into it..so as a whole you probably edge out by buying but you don't see the benefit until you sell the old car ... But the 200 dollars you saved every month leasing you could have saved and invested and got a return on that

Where it makes me the most sense to buy is if your keeping the car 10 to 15 years are fantastic at maintenance schedules and have a family member as a mechanic and don't live in a rust belt area

Never said any car will give you a positive ROI. That said buying gives you an asset, whereas leasing leaves you with wasted money and nothing to show for it. its a bad financial decision period.

Pay less for a lease and again have no asset after spending your money that could be a note to someone who had a good DP. Makes no financial sense and its a waste of money period.

You do realize you can still buy the car after the lease is over, right?

Who said you couldn't?
But then you wouldn't be talking about leasing but buying, after the fact and it isn't a guarantee they even allow you.