Mathew Knowles on Meek Mill Talking Down on Leasing Cars

[MJ Truth]

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

A car isn't an asset breh.

Assets put money INTO your pockets. Liabilities do the opposite. Unless you're an Uber driver, that car isn't earning you any money, and even then it ain't much or you may end up losing out when you add in the costs.

 

[MJ Truth]

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

That shyt SOUNDED nice lol, but

 

[dubsmith_nz]

Rich people who can afford to throw money away on frivilous things without any harm, is one thing.
People who can't afford to throw away a few thousand a month live under different financial rules.
The fact that you said , you can't be driving a 2005 lambo in 2018 hit home the fact that your argument is purely from a perception stand point, not a financial stand point.
Leasing a vehicle for the average person who isn't a millionaire is a bad financial decision, period. No ifs ands or buts about it.
You talking net worth, but trying to save money to lease, you are failing. You want to build your income you buy a used car and save accordingly.

For real people are are way too caught up in image. I earn 100k and I drive a car that's over 10 years old. My car costs maybe $500 in repairs each year and runs absolutely fine. Keep up with the service and you're good.

I'd rather put that money against my mortgage and get build equity so I can buy more property. Leasing makes sense for companies but not for individuals in my opinion.

 

[dubsmith_nz]

A car isn't an asset breh.

Assets put money INTO your pockets. Liabilities do the opposite. Unless you're an Uber driver, that car isn't earning you any money, and even then it ain't much or you may end up losing out when you add in the costs.

Not all assets generate revenue. If you're speaking in accounting terms a vehicle is definitely an asset as it can be realised for cash. The depreciation is the expense.

A leased vehicle sits as an expense only.

 

[dubsmith_nz]

A car isn't an asset breh.

Assets put money INTO your pockets. Liabilities do the opposite. Unless you're an Uber driver, that car isn't earning you any money, and even then it ain't much or you may end up losing out when you add in the costs.

Not all assets generate revenue. If you're speaking in accounting terms a vehicle is definitely an asset as it can be realised for cash. The depreciation is the expense.

A leased vehicle sits as an expense only.

 

[Champ_KW]

Solange ist anywhere close to Beyonce and Matthew Knowles wasn't apart of this project which was her most successful

And not only was it her most successful, it's the best solo project to drop outta the family, period.

 

[Kobes Two Jerseys]

I literally said 30k, because it was written that you could put 30k down and pay a couple of thousand a month to lease a rolls royce. I said that down would have been better spent buying a lower priced car out right.
Seems you are having trouble following the conversation and your own argument.

You talk about folks with money, not understanding that what makes financial sense for them doesn't apply to you.
Again the fact that you seem very adament about not having a "damn old used car" speaks to my point about you not moving with finance as a priority but image. You are image concious buyer.
No one is spending heavy amounts of money on maintance when you do your routine shyt, you speak like someone who never has owned a car.
A old car worth 200 is better than spending money and having nothing, which is worth nothing.

You need to open your eyes. If you are serious about saving money, you move that way, you put finances first and fukk the image.


Depends on the dealership, there isn't a guarantee they will do it. Thats all I'm saying.
On top of that, if you purchase after the lease, you still have to go through the process of buying the car again. You are just buying a used car, what you could have done from the get go. Doesn't make much financial sense to me.

What dealership will not sell you a used car that you leased. You are making the claim, be specific. And so what it I buy a used car? Many people get the lease first because the monthly payment is more affordable for them at the time. Later on, as their situation changes, they can afford more. I chose to just buy the used car because they served me well and had only a few more years to pay it off. What makes financial sense to you is different for someone else in a different situation.

 

[CrimsonTider]

And not only was it her most successful, it's the best solo project to drop outta the family, period.

It’s not better than Any Beyoncé album even tho it’s really good and one of the best projects of 2016

Matthew Knowles was not apart of the creation of this project

 

[Harry B]

As someone with banking experience, who flat out asked our leasing guys what the deal is, leasing is first and foremost for businesses.
A rapper can optimize his tax burden by leasing the car through an llc, for a private person with normal usage and income (i.e. not switching cars every year, stable future cash flows etc). It's almost certain that it's a worse deal that an auto loan given that you have a solid credit score. If you have bad credit score, leasing might be a better option. And on and on.

So really it all depends on your situation, your intentions with the car, the deals you can get etc. As usual shyt it not black or white.

 

[GnauzBookOfRhymes]

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

This is why I hate these kinds of threads.

1. He very clearly stated that you don’t want to hold onto a DEPRECIATING asset. Leno has all of those cars bc they’re classics/rare that will continue to INCREASE in value.

2. There are oftentimes no “right” answers when finances are involved. Everything depends on individual circumstances. Someone who is 66 will not have same sort of calculations as a man in his 20s. Buying a car bc your family has grown doesn’t involve the same set of considerations as someone who is 25, single, and wants to floss for the hoes.

The key point to take away IMHO is that people need to move beyond making important personal financial decisions based on something as silly as what an entertainer happens to project. Have respect for YOURSELF before you go seeking it from others.

Think about all the rappers etc that go onto Vlad's show and how when he's interviewing someone he clearly doesn't actually respect that the conversation is geared towards how many crimes the rapper has committed etc etc. But the minute he's sitting across someone who isn't there to seek approval, Vlad starts talking about how he's been leasing for 15 years and the cost/benefit analysis that goes into his personal financial decisions.

 

[Master Teacher]

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.

you realize if you purchase a car you can just trade in after 3 years for the newer model

l

 

[Master Teacher]

I clearly broke down how it’s not purely just a looks angle perspective.

Some of the richest people alive with financial advisors lease their cars.

That along with the fact that a Lamborghini will lose half it’s value in a few years along with having huge upkeep costs tells me that its not a good investment to own long term


Versus

Leasing and using the funds you woulda spent on buying straight out in an investment.
You’d come out with a higher net worth that way.


shyt u got jay z and mr, knowles and glad tellin u leasing is smarter, who should we listen to, you, or them rich dudes

lmao lamborgini isn't an investment, it is a luxury, you buy it because you want it

the lamborgini will always be worth something, you get your use out of it and you still have a tangible asset

leasing car is just a waste of money like renting

leasing is for people who are too broke to buy and for rich people who are never in one place

 

[Master Teacher]

That you ignored the fact that he makes 127k a year but has 51k in expenses per month, shows how little you pay attention to things that matter.
Again if you are trying to save money for your "extra" funds by leasing a rolls royce or ultra luxery vehicle, that should tell you off the bat your priorities are fukked up and you are making poor financial decisions trying to stunt.
Since you literally had a problem with me saying rich people don't care about 500k, the argument most definitely centered on our interpretations of what rich is.
You seem to have a problem actually defending the things you type. You type things and when what you type is countered you deflect and try to move on to something else and when that is responded to you repeat.
I feel for you. You remind me of those cats who got those crazy mortgages befoer the housing boom, where they were only paying interests and no principle because of crazy financing just so they could buy a house they couldn't afford.


Businesses can write off a lease, as an individual you aren't writing off a lease.
You pay no maintenance, so what, maintanance on a vehicle isn't expensive the first 10 years of modern cars, especially if you keep up your regular service.
If you aren't buying used, you should still buy over leasing, because again you still put the money spent towards an asset
It makes no sense to spend money on extended rentals.

First car I financed for 6 years, 2nd car financed for 4 years. I own both cars, first one got in 2006 and 2nd in 2017.

business can write off expenses on cars its owns to

lease is for people who can't afford to buy

anyone leasing a luxury car like rolls royce is too broke to buy it so they are doing it to stunt
which is fine, but don't act like you are some kind of financial wizard because thats why you do lmao

i can lease a lambo tomorrow, they wouldn't sell me one though unless i had half to put down the car

thats the difference between leasing and buying

nothing trumps ownership, if you're not worthy of ownership than you have to lease and rent, lmao

 

[Duke_Droese]

Leasing is only worth it if you have a business as you can take a good chunk off the monthly from your taxes.

Personal leases for luxury cars though Just stick to what you can afford.

 

[Donald J Trump]

lmao lamborgini isn't an investment, it is a luxury, you buy it because you want it

the lamborgini will always be worth something, you get your use out of it and you still have a tangible asset

leasing car is just a waste of money like renting

leasing is for people who are too broke to buy and for rich people who are never in one place

Y’all missin the whole point we both agreeing on the fact that it’ll lose value. You don’t buy shyt that cost a lot knowing it’ll lose half it’s value. It’s a terrible investment/asset to own.

You can lease for a lot less and use the money that you would have spent on the lambo to invest in stocks.

I’m not speaking rocket science here, I promise you. These rappers and actors y’all love have said this repeatedly.

 

[Master Teacher]

Y’all missin the whole point we both agreeing on the fact that it’ll lose value. You don’t buy shyt that cost a lot knowing it’ll lose half it’s value. It’s a terrible investment/asset to own.

You can lease for a lot less and use the money that you would have spent on the lambo to invest in stocks.

I’m not speaking rocket science here, I promise you. These rappers and actors y’all love have said this repeatedly.

you are a fukking moron

CARS ARE NOT AN INVESTMENT, NOBODY BUYS A CAR FOR A fukkING INVESTMENT

with lease IT IS A WASTE OF MONEY

with a car You can finance and own, and TRADE IT IN WHENEVER YOU WANT TO GET A NEW CAR

owning a car is a luxury not an investment

why if I want to paint the car, chop the top off, customize anyway i want, you can't do that with a lease because its not yours

what if your car gets stolen and retagged, and they dealership can't locate the car, you have to pay for the entire car and your credit will be destroyed, when if you owned it your insurance company would cover you for everything

say in 3 years the new benz comes out you can just trade in the car you brought and get that one

you can't lease for a lot lease who told you that shyt lmao

lease is for people with bad credit and you can't get financed lmao, if you got good credit you can get a brand new s550 for 800 a month lmao

leasing a car is easy to do than buy one, thats the only upside

if you can't afford to buy a new car, lease one, cool thats a good option

I would rather cash out a brand new luxury car, but i can't, so I don't do it, not that its not a good thing to do, i can't afford to do it

nothing trumps ownership,

cars depreciate but you still get value, you just burn money with a lease which are normally higher than car note payments