[Shotimes] Re: Convention 2004 DVD

[Ron Porter]

Leasing for business can make sense....which is what leases were for in the
first place. We had one lease 10 years ago. I didn't want to do it, but it
worked at the time, as the car was used by my wife (she's an RN) for her
hospice home car job. Apart from the other leasing issues, we were 10K UNDER
mileage at the lease end (35K on a 45K lease...and we paid a premium to get
the 15K annual versus 12K), which is leaving money on the table.

Now, there are some super cheap lease deals, and they can also work in
certain situations (I know a couple of folks who got a basic small pickup
and a small Honda for under $200/month with very little down). To use it to
buy more car than you can afford to purchase is not wise. Plus, you also
lose flexibility if your situation changes. This is what happened to us, and
the loss of flexibility to keep/sell the car as needed.

Ron Porter

-----Original Message-----
From: Ron Fleshman [mailto:insman1@charter.net] 
Sent: Thursday, October 21, 2004 12:40 AM
To: 'Ron Porter'; 'TaurusSHO'
Subject: RE: [Shotimes] Re: Convention 2004 DVD


<<Two suggestions:

1.  Don't lease.

2.  If you must lease do it with minimal down. If you have $6k as a down,
buy a vehicle.>>

Amen, Ron.

I lease a vehicle for business.  It works well.  Every personal lease I've
ever had (2) was a case in lost money.  You can get a cheaper payment, but
at the end of the lease, you have nothing to trade in.  In my business, It's
all a write-off and the dealer knows I'll be back in a couple of years for
another one, so that's not a problem.  The one personal lease I had was a
Contour SVT.  I traded in a 92 SHO and came out with the Contour for two
years for $289 per month (the 92 hydroplaned and was destroyed--I got a
salvage price).  Even so, at the end of the lease, I paid a total of nearly
$7K for the use of the car, and had nothing to show for it.  

Buy.

Ron