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leasing is same as renting a house, never the best financial choice...sm

Posted By: Car owner on 2005-12-10
In Reply to: After buying car after car and never really sm - CL

bottom line is somebody is making money off of you leasing. If they didn't make money off of you, they wouldn't lease. Same thing with renting. Renters always cover the mortgage and repairs on a home while the owner reaps the benefit of building equity. Now cars are a little different as they definitely depreciate while homes do not (usually!) but as I said, if they weren't making money doing it, they wouldn't do it. You can easily find a traded-in used vehicle with 50,000 or less at a dealership. Get one of the yearly reports from Consumer Reports and you can find which cars are the most reliable (for example, Buick LeSabres - those things run 4ever). Best financial move is to buy it from a private party with cash. I mean showing up with the whole offer in $100 bills. Few people can pass that up. If you can't get the money together to buy a car outright, you will for sure never get ahead driving someone else's car and paying them for the privilege of it. And you are just kidding yourself if you're driving around in a "new car" that you can't even afford to buy.

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leasing in like renting - paying someone else for the privilige of driving their vehicle..sm
with the low mileage you put on vehicles, you would have an easy time selling outright to a third party. Crunch the numbers.  figure out what you would pay for leasing, including deposit. Figure out what you could buy that same car for. If you hold it for 5 years, you can get an idea of how much cars depreciate by checking blue book prices on the current model and a 5 year model. Use that to figure what percent it would depreciate. Then add your leasing costs all together. Add your car payments all together.  Then subtract from the car payment what your car would be worth in 5 years, because you'll get that back, ya know. IMHO leasing is done by people too lazy to figure out the numbers and by people that it's important to "look good" to the neighbors, regardless of what your bank account actually holds. Hope you don't mind my honesty.  
Not true. There are times that renting a home and leasing a car make more sense.
than outright purchase. Do your homework.
Their skin is not a choice. To commit sodomy with a man is a choice.
I don't care if they are attracted to men or dogs or goats. I care that they act upon it.
When I first started out I was renting a duplex and had a CPA do my taxes.  It allows you to deduct the percentage of the sq footage that is used for your office, i.e if you have 10% in an office then it deducts 20% of your rent from your IC wages.  Say you have 1000 sq foot home and your office is 10 x 10 or 100 sq feet. which is 10% of your total sq footage.  If your rent is 700 per month it will take off $70 per month for your office or 840 per year.  There is no property taxes thast can be deducted as you do not pay direct property taxes -- just in your rent. 
Question on renting

Does anyone own a home that you rent out?  Could you please give the pros and cons of renting out your home as we are thinking about doing this.  Any info would be greatly appreciated. 

Renting information for you...sm
1. Check with any agency that regulates residence rentals in your state to make sure you follow the current laws.

2. Check references on potential renters - it's well worth the $50 to have a person's background checked.

3. Spell out the rental terms explicitely. For example, if late fees kick in after day 5 of a missed payment put in writing what the late fees are. You may also want to put provisions in there (if allowed by your state) for things like yard maintenance (if the grass goes more than 2 weeks without being cut in the summer they pay an extra x $ for you to hire someone to do it), provisions about if the police are called out for problems that they are evicted, etc. Again - check with the state governing agency to make sure you don't violate any laws.

4. Some people choose to hire an overseeing agency to handle rental agreements, do the background check and collect the rent. Most of the ones around Atlanta charge 10% of the rental fee as their fee, so if you choose this avenue set the rental rate at a level to cover this.

5. Be sure to check with your homeowner's insurance regarding an umbrella policy to cover in the event a rentee gets hurt on your property. Also your current policy coverage would change.

6. When figuring out the rent rate, find out what comparable homes are renting for in the area and be sure to calculate enough to cover the mortgage, insurance, upgrades, and impact to your personal taxes (you have to report the income but can write off a percentage of any upgrades).

Good luck - being a landlord can work out very well as long as you do your homework first!
I don't know about renting short term,
I think you could rent it and then return it, but you would have to ask. A friend of my rented-to-buy a Dell PC from them and learned a lesson. She paid approx. 200 every two weeks for almost a year. You will pay 3-4 times what the product is actually worth.
Leasing may work for you sm
Just read through each and every document. Make absolutely clear that you understand what condition in which the car is to be returned at the end of the lease. I do not know of one person who wasn't charged something or other at the end of the lease. They will be counting on your car as a resale "cream puff" at the end of the lease, and if you don't return it in very good condition (and within the mileage alloted at the outset), there will be fees.

Also, check into your insurance coverage. Insurance on a leased vehicle can be higher due to the fact that the insurance company is at significantly more risk if the car is totalled, and you own much less of it than you do with a conventional loan. Furthermore, make sure you are absolutely meticulous about logging your routine maintenance so you can prove it was done and keep your warranty active.

Did you ever consider purchasing a car that came off lease? It would only be a couple of years old and in good condition, sometimes with much warranty remaining. That way, someone else would take the new car depreciation hit.

A better solution may be to find a reliable independent mechanic. I go to a great little garage where labor costs are a fraction of what you pay at the dealer and they stand 100% behind each and every repair.

No matter what you decide, good luck! My dear old '89 car is dying and I will be in your shoes looking for a car very soon.
Leasing works for me (sm)

I am in the same boat.  I just ended my first lease and had less than 25,000 miles on the car after 37 months.  Leasing also allows you to get more car for the money, as lease payments are much lower than buying, especially if you can find a special.  I'm not watching for car ads right now, since I just got my new vehicle three weeks ago, so I can't tell you of any specials.  You can sometimes buy a low-mileage lease (we took 10,000 miles/year and saved an extra 3%) if you know you won't use the mileage.    

You will always have a car payment (which we would anyway) but you will always be within warranty and only pay for gas and basic maintenance.  Then again, you will always have a new car.  Good luck!

leasing vehicle - sm
Thanks for all the reponses, honest and otherwise. You all basically told me what I felt inside - the only one who makes out on a lease is the dealer. Thanks again.
leasing vehicle
If you travel 12-15,000 miles or less and do not want to worry about repairs, etc, and know you want to drive a newer vehicle always - having a payment always, leasing is good. I leased for a while and it was fine, but then started putting on a lot more miles. So now I buy my vehicle and drive until it dies. Matter of opinion.
Leasing question

Does anyone know of a company where a Lanier can be leased?  I just purchase, less than a month ago, a C-phone for an IC position and now, finally after several weeks, a fulltime position came through but I need a Lanier.  I cannot afford to buy another piece of equipment, especially since I have not received a check from my IC position yet and when it comes in, the first one is only going to be about 90+ dollars because of timing.  They pay every two weeks and it is a week behind for payrolling or something along those lines.  Any ideas?

I know they are suing MQ regarding leasing
breach of contract or confidentiality or something - maybe that MQ used info obtained from DQS to solicit their clients? Something to that effect. I have worked for both and I don't know which company was worse or better.  Since I lasted years with MQ and only months with DR, I would have to say that MQ was better for me, which is a sad statement in itself.  DR is always, always hiring, particularly for 1 horrible account in Florida, I believe.  So I guess everyone is used to just ignoring their ad by now.  Wish I had better news!
Question inside about Renting from Rent-A Center. sm

What was your expeience?  Is it very expensive?  I was thinking about renting a laptop computer to use for work on vacation for a couple of weeks and not ready to invest in purchasing a new laptop yet.  Can you rent things for about a month or do they require longer?

Thanks for any help you guys might give.');>


This is a fantastic idea actually (renting hotel room)
It may be tax deductible. I actually like my home and it is affordable as I got it at a low price several years ago and put a big down payment on it. In other words, I doubt if I could repeat this. No small children. What I am thinking of is that I will probably have to work until I am 60 at least. The only other option would be to go back to school and get training in another skill but even that seems difficult. I have no idea what I could learn and work at other than nursing.

Thank you very much
anyone have personal experience with leasing a vehicle
I've never owned a car, end up upside down on the loan, owe old loan on top of new loan, and own it for so long it starts to tinker and I pay for repair on top of the loan.  What is the downside of leasing?  I heard you sometimes have to pay, but only if you drive over the limited mileage right?  Working at home, that saves mileage on commute which makes up 70% of it I would suppose.  Plus being new it won't nickle and dime me to death with repairs, low payment because you only pay for the amount of money it would depreciate for the time you own it.  Any personal experience with this, and is there red tape or hidden small print?  Going to start looking really soon, I only hear bad things but its from people who drive a lot.  I think a new car is a necessity in this day and age, with all the swindling mechanics and the dependence to get from here to there.  A new different car every three years doesnt sound so bad either.
E. It is not my choice to make, it is their choice.
Every job has its pros and cons.  The more US MTs we can bring in is that many fewer jobs going overseas.  Besides, I like my job.
Dear confused, you've been offered some very poor advice re leasing...sm
none of the "pros" in favor of leasing have offered any dollar amounts, percentages, appreciation, or depreciation facts. It's all about feelings, feelings, feelings. You know, deep down inside, that leasing isn't the best way to use your money. It's just the same as renting. It's for peopel who don't have the money, so they get ripped off because they are trying to act like people who do have the money. But most people "considering" leasing have already made up their mind that they want to lease. It's so much more less painful...
See if there is financial aid available,
including work-study and/or grants. If you're developing an injury, please make a change before you become disabled. I worked as a historian in a hand surgery office, and sometimes you have to just stop. Good luck to you.
If you qualify for financial aid

You might want to consider looking into EVCC. It is a community college that uses the Career Step courseware, but you have instructors and accept Pell Grants and Stafford Loans.

EVCC grads get the same consideration from employers as Career Step grads.

I am having a bad financial hardship
any kind of help, but not enough to seem to get by on.  Oprah has a debt diet and I am going to try it.  Also I recently joined Debtors Anonymous, for anybody with money problems.  I hope it helps, it seems to have so far.  Good luck to both of us.
Does it serve your financial needs?
The main criteria for any job wage would be whether you think it is a fair trade for your skills and will it provide what you need it to financially.

I personally would not work for $15 an hour. However, your needs may be different from mine. I also have other options. You may not.

It is a very subjective question and one that only you can really answer.

Any financial wizards
out there.  Hi guys I am wondering if I could get some suggestions on my 401K.  I am really dumb about numbers.  Give me big medical words and I am fine, but not numbers.  Anyway, we just switched to another financial management for our 401K.  I cannot remember what managed portfolio I had picked years ago.  Would you, in this day age with the way the stock market is, go with an ultraconservative 100%, conservative 20(stocks)/80(fixed), balanced 40(stocks)/60(fixed), balanced 60(stocks)/40(fixed), aggressive 80(stocks)/20(fixed), or ultra aggressive 100% stocks.  Can anyone help me out here?  TIA
This is exactly why my financial advisor said
To any financial wizards out there. SM

Does anyone know about when a company says it has profit sharing what that exactly  means.  Is it the same as them matching the 401K contributions, or is it separate outside of the 401K distribution?  Also, is it usually paid directly to the employee or invested by the employer?

Thanks to anyone who can help.

Financial Assistance???
I am currently a full-time-college-student-but-otherwise-SAHM. Pretty soon we'll be needing more money, but I have neither time nor resources (day care around here is INSANELY expensive) to work outside the home. I've been doing the reasearch and have come to the conclusion that MT is a good job option for me.

The problem is the training is sooo expensive! I mean,if we didn't need the money I wouldn't be looking for the training to begin with--so obviously I don't have $1600-4000 up front for the training. And most of the payment plans I see aren't looking much better--like $1000 up front, $350 every month after that. Right now that's just not feasable.

Are there any MT schools that offer reasonable financial assistance? Or, I'd even be cool with a payment deferment plan or something!

Anybody know of a school that's willing to help the financially strapped?
Do you ever feel the financial crunch?
My house payment and insurance are auto debited from my checking account.  However, work has been so slow and my paychecks have been so puny that I need to get more money in there to cover those.  I've called everyone on the planet that owes me money, but nobody's coughing it up.  I'm the one that posted the other day about the medical company and the IRS owing me money from way back.  I wouldn't have a problem at all if they would just pay me.  I've tried picking up extra work and looking for a new job, but there's nothing anyone can do that would pay today.  I don't want to take my rings to the pawn shop because I don' t think I'd get a whole lot out of them anyways.  Interest on those check cashing loans is terrible, then you get sucked into that cycle of borrowing from them repeatedly.  I've already cut my household expenses back as much as possible.  I'm just so stressed about it all.  Has anyone else ever been in this situation?  What do you do?  I can't stand being broke.
More important to me is keeping my financial

info within the US.  HIPAA allows many uses of unidentiable medical records to be distributed in many ways even within the US, not to mention overseas.  There is no law that keeps my financial information confidential and within the boundaries of the US.  Very little truly identifible information to connect medicall record A with a particular person other than by name is sent anywhere, even to MTSOs within the US. 

Who wants my medical information?  The College of Surgeons to help them identify ethnicities and trends in cancers, the AARP to help target demographic groups for products they sponsor and to "represent" when they pay their professional lobbying group in DC, the auto industry to decide my premiums, and on and on.

I got a Walmart credit card, was 7 days late in sending in my $10 minimum payment and got a call from India for collections.  ????  Mailed in the account balance and closed the account.  Then called all my credit companies to find out where their call centers were located.  I now have only financial business with companies who keep my records in the US.  That is my choice.  There ARE 2 cases of people who sold US financial records being proscecuted by the Indian government and a total of 5 people are in jail for this.

To the OP, share with us your thoughts.

Michael:  You've been missing a lot of work.  Peter:  I wouldn't really say I've been missing it.

I know it's not the best financial decision, but (see message)
I have no money problems and can afford to have payments each month.

I lease strictly out of convenience. I don't like to own a car for more than a few years. I don't want to deal with the hassle of selling a car once I no longer want it or deal with repairs. I want a car that's always under warranty and that I can give back easily when I'm done with it.

If I were not financially stable, I would definitely purchase a reliable used car, but where I am in life right now, I just don't need to. Leasing is a convenience for me, and it's one that I'm willing and able to pay for.
Do not lease. Big financial mistake for you. (nt)

Depends on mom's financial situation maybe....sm

I would assess the need of the mother and child and then give appropriately. Boxes of diapers and wipes are always appreciated and are sure to get used!

late pay and financial situation
No one is responsible for my financial situation however my check is not a payroll check -I am a professional subcontractor and once a contract is signed or a client (MTSO or other) tells me or I tell them when I will be paid they are legally responsible to do so within a reasonable amount of time for mail delivery.

If I told my electric company - sorry but can't pay now, hold off until I can - my electric would be shut off - with fees added on. Why is it that transcriptionists feel they are less important to a client than anyone other professional?

Charge them fees and pursue it - as a subCONTRACTOR you are entitled.

As for D&L - I cannot note the new name - but I can say that more initials but same people. I choose to be quiet about the new name so that others who maintain some sort of employment there do not lose whatever small thing they have. Eventually this will change and you will see it prominently displayed I am sure. At the moment they are not advertising at all, so I feel comfortable in my decision to remain quiet on the name.
The financial gurus always say when starting a new
business/career you should have enough money in the bank to cover 6 months of expenses.  
this applies to MT, right? (link for financial assistance)
link:  http://www.doleta.gov/programs/factsht/taa.cfm

something has to be done to help people losing jobs to foreigners...

it says you need 3 or more workers to apply...

also, it aint going away, ladies: 

Other projections include:

  • 10 percent of U.S. technology jobs will have moved offshore by 2005 (Gartner Group)

  • up to 25 percent of traditional IT jobs will be relocated from developed to developing countries by 2010 (Gartner Group)

  • 500,000 financial services jobs (8 percent of all U.S. jobs in banking, brokerage and insurance) will be shipped overseas by May 2008 (AT Kearney)

At recent financial aid seminar, I was told...

Although I am married and it doesn't pertain to me...

The financial aid officer told all the parents there that if their child is 22, living with them or not, their finances will be looked at and considered when the kid goes to college.  So if you boot your kid out the door at 22, consider the fact that if you make too much money, your kid may not be able to afford to go to college without your help because their student loans, scholarships, etc. will be based on both the student's income and the parents.  If they are married or have children parent's income is not a factor, only the student.

google greendot financial and read
Most financial advisors say when you receive a windfall...

After paying any necessary debts, etc., put the remainder in a CD or money market account and let it accumulate interest for a while so you can consider your options. You don't want to jump into (or out of) anything on the spur of the moment.

I guess the question is, is this a job you want to keep? If so, I think the advice the MTSO below gave is great - talk to your supervisor or lead, explain the situation, and ask if you can take some time off and still have a job waiting for you when you get back.

If it's not a job that you want to keep, then don't worry about it. Quit, spend some time with your daughter, then look for another job. You will certainly have enough money to tide you over!

P.S. For financial advice, check out one of Dave Ramsey's Endorsed Local Providers in your area. (link below) Look at the top right corner of the page under Trusted Services. Their goal is not to tell you what you should do with your money, but teach you how to make the right decision about your money and investments.

Good luck and CONGRATULATIONS!!!!!!

Prayers and well wishes are just as important as financial help...
sorry you don't see it that way...
Here's their revenue for the past three years and other financial data.

MQ's debts are not high either.


Terrorist attacks in Mumbai/financial districts.

Dozens killed in India terror attacks

Buzz up!

Like this story? Share it with Yahoo! Buzz

There now are reports of as many as 80 people dead -- a number that is likely to rise -- in apparent terror attacks aimed at tourists and travelers in Mumbai, India.

Oberoi_fire Reuters is reporting that at least 250 people have been wounded in the attacks, which appear targeted at tourists. In addition, Indian television is reporting Westerners are being held hostage at at least two hotels. News networks and wire services are reporting there have been at least seven separate attacks in the city, largely at luxury hotels and restaurants.

"I heard some gunshots around 9:30. I was with my friends. Something hit me. I ran away and fell on the road. Then somebody picked me up. I have injuries below my shoulder," Reuters reporter Sourav Mishra said from a hospital bed, Reuters reported.

The Times of India
reports there have been eight separate attacks, including a major terror strike at a large passenger railway station.

Our coverage is here.

(Television broadcast capture of a fire at the Oberoi hotel in Mumbia courtesy NDTV, via AP)

Update at 3:57 p.m. ET: According to the AP, gunmen are known to have attacked a major train station, a well-known restaurant, two luxury hotels and a police station. A previously unknown group calling itself "Deccan Mujahideen" has sent e-mail to news organizations claiming responsibility for the attacks, the Times of India is reporting. The AP now lists the death toll at 78. There are multiple reports that attacks are continuing.

One of those radio financial guys said debit cards are the MOST dangerous to use.
Manufacturing computers offshore is different than PRIVATE MEDICAL AND FINANCIAL INFORMATION. sm
you need to compare apples with apples not oranges.
Not much of a choice is it
Not on VR yet. I have not heard one thing about VR, the checks being sent out or the pay letters. Been here 8 years. Everything I have found out about is off this website and that is pretty sad.
I think if I had a choice
between being beautiful and childish and stupid or being ugly and gruesome in appearance. I'd choose ugly and gruesome any day. You may think that what you are doing is funny, and it may be funny to you, but most of us fail to see the humor.
Bad choice
I work for Transhealth and very bad choice to go work for, take it from me. I have been working there for couple of years and have stayed on for circumstances beyond my control but am planning to leave hopefully by end of this year if not sooner.
It's my choice
If I don't chose to patronize a store, it's MY choice, regardless of the reasons. The person asking the questions asked me where I would shop if I didn't go to Wal-Mart, so I told her. My reasons are my reasons, so bug off.
try First Choice
not by choice
Whether any of us likes it or not, 10% of the population will be gay. I have not seen the movie but intend to see it. I think it would be rather naive to think that a gay cowboy has never existed. While I believe it would not be appropriate for children just as it would not be appropriate for children to see straight adult-theme movies, I don't believe gays are pushing this movie. Whether you or are approve or disapprove of gays, they are a fact of life. While I worked in hospitals in days gone by, many employees were gay and I got to be good friends with many gays. Trust me, from what I have been told by many gays, they would not wish this on any one. Gays are for the most part born this way. I would no more expect a gay person to do something inappropriate in front of me as any of my straight friends.
His choice! nm
First Choice does, too. nm
If you had the choice would you....sm
go hourly as a QA Editor or stay production as an MT?  I have the chance to take a job as an QA/editor making between around $14+ an hour.  I know I could make more as a production MT, but then you have the worry of work flow, ect.  I was just wondering for those who made the transition if you like the change or ended up going back production.  Thanks.