Lease buyout tips/tricks?

You might be able to read but you do not comprehend what you are reading.

Let me ask you two simple questions.

- If someone dropped 1 ton of feathers and 1 ton of steel what would hit the ground first?

- If someone gave you an interest free loan for 30 days or you had to pay cash for the same item. What would cost more long term?

 

Rather than admit he posted something stupid, ProxSuns goes into troll mode. He cannot be reasoned with, and futher argument is pointless.

 

I have watched cashiers hand over mechandise *before* they take the cash.

In your world the customer took on debt, no doubt. Naughty them.

Don't answer.

 

You seem to want to base your financial decisions on worst case scenarios, this leads me to believe you are full of BS.

My credit card interest rate is 3%. I realize that is NOT the norm, and it is 14 times higher than what I pay for other financing at the moment, but it is "unsecured". I pay my credit card statement balance every month, not the entire balance, and avoid the finance charges as well. I also get the various rewards.

If you are not willing to use debt as a tool, you are making a religious decision, not a financial one, IMO.

 

How about three years? But all that is irrelevant to your comment that use of credit card was not debt.

Borrowing money from credit card company to purchase items defines debt. You had claimed you had no debt but your description of your actions is being in constant debt. That you pay your debts off in a timely manner does not change the fact that you are incurring debt.

That it makes financial sense for you, as leasing autos does for others, does not change the facts.

Your religious faith in the "credit score" that the lending industry creates is amusing considering the financial disaster the US is in was created by those same "credit scorers". The "credit scores" created by the lending industry is to encourage debt. If you have no debt (such as your constant credit card debt), you do not show up on their scale. If you read the "advice" on having a good "credit score" it is take out debt and pay it off in a timely manner. "Credit Scores" are a business promotion of the credit industry.

 

Let me get this straight. You pay 3% interest rate on your credit card and that is 14 times more then you pay for other financing. That comes to .2143% a year. There is no financial institute in the world that would offer that low financing. That is called charity not a loan.

You are saying two different things. It sounds like you pay the minimum amount each month to avoid additional finance charges. You might get rewards for using the card. You do not get rewards for carrying a balance. Your credit card company gets rewards from you.

What does simple math have to do with religion? When people make posts like yours it scares me that there are people like that in the world that do not understand anything. I hope you are married to someone with a brain. Your views of money are way off.

 

Just saying that your borrowing money from credit card company to buy things is going into debt. That is the fact. You claimed it was not debt. It is.

 

Pease answer the first two questions.

- If someone dropped 1 ton of feathers and 1 ton of steel what would hit the ground first?
- If someone gave you an interest free loan for 30 days or you had to pay cash for the same item. What would cost more long term?

I have to add one more question bases on your 3 year example.
- What is 3 times 0 (3X0)? 3 years times zero?

Religion and math have nothing to do with each other. Are the same person as John Hatchett. You both think religion and money are related.

I have had zero dept for the last 15 years outside of a business and personal credit card that I pay the balance off within the grace period that costs me ZERO out of pocket.

Do you realize that when you lease or finance a car you are in debt and it cost you interest? This is money out of your pocket?

 

So you are in constant debt and pay it off in a timely manner. Credit industry thinks you are an excellent customer and will reward you with a sticker of a high "credit score" for using their products.

 

What is your credit score?

 

Let's say I buy everything with a credit card, and pay off each purchase 30 seconds later from my checking account.

Am I 'in debt' ?
If that is my only activity reported to credit reporting agencies, guess my score if I have a 10 history.
Are the credit card companies happy with me as a business proposition ? Presume they give me a rebate equal to the percentage they receive from the vendor. In other words, am I a profitable marginal customer ?

 

What is your net worth?

 

Then you are incurring debt every time you buy on credit.

 

Judgeless, I also wondered about J Hatchett's post where he said he does not pay the balance in full, but accrues zero finance charges. I presume he means that he pays the full statement balance, not the current account balance. If this is the case, he is just saying that he is maximizing the grace period.

 

Do I incur debt if I write a check ?

 

What is your IQ ?

 

Higher than your net worth apparently.

 

I don't know how you arrived at that conclusion, but then I fail to follow your troll "logic" routinely.

 

My net worth is high. I have invested 20% of my income for over 20 years into mutual funds and stocks. I invest the max I can into a Roth IRA. I contribute the max I can into my 401K. We have a deferred compensation program at work that I invest 10% into. The house is paid for. I use flexible spending to save money on extra medical insurance, dental and vision.

 

I read that he carries a balance that he pays interest on. I do not believe that he is paying less than 1% a year.