More to it than that. sm

A lease is a better option in a high-end car if you own a business (including being an IC).  It is a straight deduction without depreciation, amortization, capital expense, etc. 

Owning a home is NOT a good option if several factors are present:  Job not 100% secure, cannot put 20% down and need to pay PMI, not sure you are going to stay in the same area for at least 5 years, needing to live in an area where house values are going down instead of up and ability to save.  If someone cannot come up with a down payment over a few years, they will not be able to come up with the cost of repairs, taxes, etc. 

There are some cases that make more sense to rent or lease for a short period of time - under 5 years.  The cost to sell and move, cost of repairs, time for landscaping, etc could end up eating all equity gained during a few years and could come out HIGHER than renting.  Like anything, the better someone does their homework, the better able they will be to make a decision that is best for their personal situation. 

Too many people get into a house before they are ready and end up having it repo'd which destroys their credit for many years or end up hating their life because of the added stress.

Owning a home may be the American dream, but like anything in life, if you are not ready for it, it will not be a good choice.

• anyone have personal experience with leasing a vehicle - advice please
  • I leased a car once - j
  • Leased a truck for four years. At the - Wannie
  • I considered a lease once (sm) - no lease for me
  • Suze Orman says . . . . - sm
  • I only lease. I want a new car every 3 years. sm - Leasee
  • I have leased 2 cars and have never had a bad experience. (sm) - Bay Girl
    • You pay $26,800 to drive a new car for 5 years! You can buy - Car owner
  • nm.......... - read the very fine print....
  • ooh....just did. I have some advice - lilworried
    • never heard of lease trader, thanks for the tip - advice please
      • one picks up at the supermarket? nm - isn't the Lease Trader that freebie mag...
        • no. it is leasetrader.com - lilworried
  • Leasing may work for you sm - Sold cars to get through MT school sm
    • thanks for the advice... - advice please
  • After buying car after car and never really sm - CL
    • I should have said while I 'use' not own..sm - advice please
    • leasing is same as renting a house, never the best financial choice...sm - Car owner
      • Not true. There are times that renting a home and leasing a car make more sense. - Financial Guru
        • Where are YOU doing your homework? - what you're saying makes no sense
          • How? I've done pretty well staying out of debt, but - agree
            • I would recommend looking into the Suze Orman - Not the Suze Orman OP
              • Yeah, I've heard of her but never watched or listened to her. - thanks.
        • Do your own homework. - Financial GuruToo
          • More to it than that. sm - financial guru
            • but not in the situation of the original poster...sm - Car owner
            • My two cents, for what they're worth. - Hmm

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