Buying now or investing?
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Joined: Aug 2009
Posts: 323
From: Detroit
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I paid cash for my car about 6 months ago. Philosophically, we don't buy anything unless we can pay cash. Aside from a 15 year note on our house, we carry no debt. I wouldn't have bought the car unless I was using money I wouldn't miss. May not be savvy but it keeps our reality of what we can buy in check.
2nd choice, lease through office and write off. Though legal, I might not have done so as the lease would certainly be large and a potential red flag.
2nd choice, lease through office and write off. Though legal, I might not have done so as the lease would certainly be large and a potential red flag.
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Joined: Apr 2008
Posts: 103
From: Houston
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And if you couldn't lease thru a biz with pre tax dollars would you still lease?
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Joined: Sep 2011
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From: Carmel,IN
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I paid cash for my car about 6 months ago. Philosophically, we don't buy anything unless we can pay cash. Aside from a 15 year note on our house, we carry no debt. I wouldn't have bought the car unless I was using money I wouldn't miss. May not be savvy but it keeps our reality of what we can buy in check.
2nd choice, lease through office and write off. Though legal, I might not have done so as the lease would certainly be large and a potential red flag.
2nd choice, lease through office and write off. Though legal, I might not have done so as the lease would certainly be large and a potential red flag.
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Joined: Jun 2006
Posts: 3,822
From: HOUSTON
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I will always use OPM(other peoples money,bank or credit union.) if I can make more from an investment(after fees). That is a no brainier for me.
The second benefit of borrowing is they hold most of the liability in case of a personal lawsuit. If you pay cash it will be part of the assets a lawyer will go after.
Keeping cash in a living trust will help protect it from lawsuits.
So most of the time living debt free is only good for peace of mind & not very smart when it comes to creating wealth.
The second benefit of borrowing is they hold most of the liability in case of a personal lawsuit. If you pay cash it will be part of the assets a lawyer will go after.
Keeping cash in a living trust will help protect it from lawsuits.
So most of the time living debt free is only good for peace of mind & not very smart when it comes to creating wealth.
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