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Affordable or not

February 26th, 2007 at 07:03 pm

I have a friend who is currently looking for a BMW. Anyhow she realizes that she can not afford $600 a month on the 5 series ( the one she wants) and now is considering a lease because her payments will be much less and she could afford it with the option to buy. I said to her if you can not afford to buy then it is not affordable if you have to lease. I am I wrong; she thinks this is just a great idea. I have tried explaining to her even people who are financially set tend to not lease statistically

3 Responses to “Affordable or not”

  1. Nika Says:

    Many people loose all reason when it comes to cars.

    I know people who make half as much as us, have kids, more bills, debt, and lease brand new cars. They think they look successful. I don't say anything to them, but I feel it is pitiful.

  2. creditcardfree Says:

    You are exactly right. Have her read The Millionaire Next Door...millionaires don't lease cars and rarely buy them brand new. That's how you become a millionaire...by making good financial decisions.

  3. LuckyRobin Says:

    She could probably afford a five year old BMW with payments much easier. They tend to be a well maintained vehicle and look like new. She could still look good in her car without it costing so much money.

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