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Investment argument is wrong (archive)

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Posted by Carl B on October 23, 2000 at 11:30:14:

In Reply to: What the hell are you talking about?? posted by J on October 23, 2000 at 10:28:49:

I am sure you buy all your cars in cash and have no payments!! But I rather keep my money in the bank or in investments!! (just a little jab back!)

You guys sound like car salesmen. I got news for you, when you lease, you pay depreciation plus interest on it. When you buy the car, you only lose its depreciation. You use your money to minimize your vehicle costs.

Leasing a car to free up your money for other investing is no argument. If you have the money, buy it. If you don't, take a home equity mortgage and get a tax break. If you can't do that, then buy a cheaper car.

Picking up the new car depreciation plus interest plus additional costs every three years without a tax break is not a good investment strategy. At the end of the day, you will have more to invest if you don't keep leasing new cars every three years.

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