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Enough work for today, Dad. Let’s snuggle.
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Strategy& folks, how do you truly feel regarding overall happiness with your job? I feel like often times we only see negative opinions on here (people come to vent about being overworked etc) so I’m curious if there are a bunch of happy S& employees out there just keeping more quiet
Bet it was a consultant!
Anyone has a sephora promo code to share? 🐠🐠
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I drive an ‘03 Toyota and make $185K a year. I bought the car from my friend five years ago who recently built a $2.2 mil house. I wouldn’t invest my money in a depreciating asset.
This is the way. Those investment accounts are hopefully looking thicc. I generally agree with this but I could see myself getting something nicer after I’ve purchased a house, paid down other loans, and can continue heavily funding investment accounts.
Very situational IMO. I’ve had bschool classmates lease a car because it was cheaper. Also, people who end up buying a new car when their car loan is paid. In that case, might as well do revolving leases and drive something flashier. Or if you just want something fun for a few years like a 911.
Leases aren’t inherently bad, just depends on your situation and reasoning.
Chief
It’s not an optimal financial decision and neither is buying a new car.
If you want to consistently be in a new car then spend the money for the lease.
Chief
Exactly
I think it’s an extremely situational decision. Ideally the only people who should lease cars IMO are people who own a business and write it off as a tax deduction. Leasing is just another way to eat the depreciation of a new car. Just because you leased it doesn’t mean you lose less money by the end of the lease vs buying it even though the payments are lower.
I recommend buy a used car closer to the bottom of its depreciation curve and drive it until you don’t need it. Then sell it and get a good chunk of your money back. That advice holds true for anything from a daily driver to a sports car.
I’ve leased twice. The first time, I was driving 1000 miles/week for work and GM sold extra miles for way less than the reimbursement. I broke even on that one. The second time was a BMW that was fun for a few years. One drawback is you’re always making payments. After the BMW, I bought an Accord, paid it off after 18 months, and enjoyed driving it for 6 more years without a car payment (although I made the monthly payment to a savings acct that I used to buy my next car). Agree it’s situational. In my 20s, I liked having a new car. In my 40s, I like having no payment.
I only lease.. free oil changes, not paying the full 40k for a car, everything is under warranty. Why wouldn’t I? 😆
Your expense for buying a car is equal to depreciation and, if financing, interest. This is true regardless of if you pay cash or finance. Compare those options to lease to get a good trade off. Finding a car that holds its value when buying is the most important thing. Sometimes leases can be about the expense of depreciation and interest so you wouldn’t be losing $