<i>"Unless, of course, BS Bernanke destroys confidence in fiat and even the people with cash find themselves effectively bankrupt!"</i> Reality check: we're still on Bush & GOP timecard here. Have you seen the USD and savings rates this morning? What's left to be destroyed by anyone who follows? Damage is already done, courtesy of the GOP. Registered Independent
Oh no... only the tip of the iceberg so far. STUFF YOUR LIBERAL/NOBAMA BIAS... He and DemoCraps are also powerless to stop the rot. Bush did more than his share of destruction, but this "situation" had it's origins in FDR's day. DemoCraps and RepupliClowns have both contributed mightily... much stink all around.
Because one should never pay interest on a depreciating asset in a continuous cycle. If you have the cash then knock yourself out but you still have an opportunity cost of spending it on a depreciating asset. I have owned 12 different cars in the past 17 years. Then I bought a new toyota. It's a few years old now but still drives and looks like new and I will probably drive it at least 10 years or as long as it keeps on being reliable and low maintenance. Stop by a toyota dealership sometime and look as some of the mileage of the vehicles in there for oil changes. 100k is not even broke in. 200k is normal and many run to 300+ with nothing more than oil changes, tires, brake pads.
Is it really that hard to connect the dots? I don't get why anyone would say something like that and then continue being polarized by the whole Republican versus Democract theatre. It's about as real as WWE.
Don't think that matters... but in FDR's day it was conceived that deficit spending (however perceived as necessary at the time) began/accelerated the rot. You must understand... without Gummint and Fed "intervention", we would NEVER experience bubbles, deflation, recession nor depression.... these are ALL "Gummint/Fed interventionist phenomenon"... and the entire premise of this intervention is THEFT BY DECEPTION... Actually, Hoover's actions were best... even if he didn't understand why.
With the exception of an old Porsche I bought to drive (in case I got caught) without a DL for a year. I've owned every car I've had for a minimum of 6 years. Current ride is a 99' Jeep Wrangler with 133K miles. Self indulgence, living beyond your means and having to out do your neighbors are expensive hobbies.
Years ago I worked with a leasing brokerage, which included autos. As it turns out, either "leasing cheaply" or "buy and drive 'till the wheels fall off" are about the same when measured by "time value of money"... NOT including the cost of insurance and licensing.... and presuming average repair costs. If you're able to write off the cost of a lease for your business, that's the way to go for sure. But you need to shop wisely. A good measure of value is whether the "lease payment + down stroke... amortized over the initial lease period" = 1-1.25% of MSRP. If you're considering a deal where the "monthly payment + drive-off costs amortized over the life of the lease" = 2% of MSRP, you're getting HOSED!
I drive a 2004 Grand Prix with 82k miles on it. As soon as it's paid off, I'm driving it until the wheels fall off. Knock-on-wood - nothing major with it. Had the sunroof motor go around 30k miles and GM replaced it without a hassle. I'm actually happy with my car - it's very much a driver's car. I love when little rice burners pull up along side me on I75 and act all hard like they have something to prove.