Car loans
in Banking, Insurance & Loans ·
reply to gentleridge44
regarding point one, yeah, that works... but point two? nah, definitely not....
regarding point one, yeah, that works... but point two? nah, definitely not....
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Posts by gentleridge44
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Car loans
in Banking, Insurance & Loans ·
So, about that whole leasing vs. personal loan debate...
The real kicker is the Sales Tax on the interest you get with a lease. You don't deal with that when you go through a bank, since banks aren't part of the Sales Tax system...
Also, if you just want to drive and don't care about owning the thing, an operating lease with a residual value is actually pretty sweet for a regular person. Your monthly payments stay lower, and you dodge all those headaches like service costs, new tires, and stuff like that. Though, if you crunch the numbers and add up every single payment—including that 22% Sales Tax on the interest—it does end up costing more in the long run...
Take a Honda Civic, for example. You could do a lease where the residual value is 40%, assuming you stick to a 20,000 mile per year limit over five years. But honestly, that’s just a fair price for the car... basically, you only paid for what you actually drove...
The real kicker is the Sales Tax on the interest you get with a lease. You don't deal with that when you go through a bank, since banks aren't part of the Sales Tax system...
Also, if you just want to drive and don't care about owning the thing, an operating lease with a residual value is actually pretty sweet for a regular person. Your monthly payments stay lower, and you dodge all those headaches like service costs, new tires, and stuff like that. Though, if you crunch the numbers and add up every single payment—including that 22% Sales Tax on the interest—it does end up costing more in the long run...
Take a Honda Civic, for example. You could do a lease where the residual value is 40%, assuming you stick to a 20,000 mile per year limit over five years. But honestly, that’s just a fair price for the car... basically, you only paid for what you actually drove...
Personal loans for contract employees
in Banking, Insurance & Loans ·
You could actually snag a way bigger loan if you bring on a co-signer with a steady, full-time job... good luck with everything...
Which auto insurance should I go with?
in Banking, Insurance & Loans ·
The best insurance is when you actually know someone on the inside... personally, I've always stuck with Ford Motor Company... never had a single headache...