https://padlet.com/tristinjameshaines/5yyc98ys2vea Which is best for you? en-us 2019-11-22 16:56:05 UTC 2025-03-01 02:09:08 UTC hello@padlet.com tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415381353 If you want to get a vehicle but are not sure what ownership option is best for you, you have come to the right place! Let's explore the pros and cons of buying and leasing to find the right decision for your current budget and lifestyle.]]> 2019-11-22 17:01:17 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415381353 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415382119 In this video, Marko from WhiteBoard Finance helps you think through what makes the most sense for you. He first walks you through the math involved in both buying and leasing to show you how much each option will cost and how much money you will be left with at the end of each.

I chose this video because while you need to understand the math, it is not simply a question of budget. In the second half Marko discusses how you also need to take your lifestyle into account. Take the time to consider what you want, why you want it, and if it best for the season of life you are in.]]> 2019-11-22 17:02:23 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415382119 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415393528 Use this website to find the make of car you want, punch in all the information about a potential lease, to get an accurate picture of what you would really be spending.

I chose this website because it includes the broader expenses and factors that a simple calculation would be missing. It includes dealer fees and helpful tax information.]]> 2019-11-22 17:20:04 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415393528 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415402432 You have to think about where you are now, and where you want to be in the future while making a decision. What yields the best result in the end? Can I be consistent and disciplined in my payments? What are my other financial obligations?]]> 2019-11-22 17:35:00 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415402432 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415405375 Use this website to look over your decision one more time. If you are happy with the pros and cons, you are now ready to understand you leasing options, pick one, and actually learn HOW to go about leasing.

This website gives you step by step instructions in regards to HOW to lease. These steps range from knowing your credit score, creating a budget, finding the right dealer and maintenance while the car is in your possession. ]]> 2019-11-22 17:39:43 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415405375 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415406140 2019-11-22 17:40:50 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415406140 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415410516 Dave Ramsey, the well known financial coach, helps a man decide whether to buy new or buy used. Ramsey's advice is to not put your money into things that loose value. If you choose to buy used but still have a newer vehicle, he suggests a 3 year old car with low milage. In the first two years, a cars value drops very quickly. By the 4th year, it has taken the biggest hits. This will be a safer time to get a car so that it depreciates slower.

I chose this video because it is more relational than just numbers. It is practical and relatable. We also see how a dealer almost convinced the man that a normal deal was a great deal not to miss. Be careful of clever marketing!]]> 2019-11-22 17:48:00 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415410516 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415418719 If you want to buy instead of lease, make sure you know the vehicle you want, know the incentives and do your research. Take time to look around and don't let someone feel like you have to make a decision in the moment. The more knowledge you have on the vehicle and what others are offering, the more likely you will be able to get a good deal.

I chose this website because it ends with giving you a practical and fair strategy to walk into a dealership with to get a great deal and show the salesperson you know what you are talking about.]]> 2019-11-22 18:00:57 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415418719 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415422666 2019-11-22 18:07:17 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415422666 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415425290 2019-11-22 18:11:26 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415425290 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415425420 If you are new to the idea of owning a vehicle, this website gives you a concise overview of your three options. With multiple pros and cons for each option, this is a great took for learning which path to research more. 

I chose this as the first website because it introduces the three options, without an overwhelming amount of information. People feel overwhelmed when presented too much information all at once about something that requires a lot of thought at money.]]> 2019-11-22 18:11:44 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415425420 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415436349 If you are going to finance a car, a good general rule is the 20/4/10 Rule. It goes like this: have a 20% deposit to pay up front, make the plan 4 years long, and make your monthly payment 10% of your monthly gross income. Paying more up front will lower the length of time you are in debt and reducing how much interest you pay.

I chose this video because it is honest that while it is a good rule, you are still better to make a used car last as long as possible while you spend that time saving up to make a bigger down payment, or save enough for a full car payment. But if you cannot wait that long, this is a good rule if you don't know where to start.]]> 2019-11-22 18:27:42 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415436349 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415444577 This video from Toyota walks you through the benefits, concerns and outcomes of leasing with them. At the end of your lease you will have three main options: Keep it, Trade in, or Give back. Watch this video for an explanation of each and a walk through of a real world scenario. 

I chose this video to show you how leasing has an end, and that you have options at that end. Make sure you think about what you plan to do at the end of your lease! Are you using this time to save up and give it back? Do you only want the newest model every few years? Do you want to keep this car? Think about the end of your leasing!]]> 2019-11-22 18:37:43 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415444577 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415450709 How much freedom do you want with your purchase? Are you okay with the terms, conditions and restrictions? How much traveling to you plan to do? Do you like customizing your car? Can you make due with what you have? Do you need the newest model? Do you have time to save up? Is your current job situation stable? Do you have plans to move?

Now take what you have learned and make the best decision for YOUR LIFE.

Remember, in light of your past experience, you current circumstances and your future hopes and dreams... what is the WISE thing to do?]]> 2019-11-22 18:46:56 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415450709 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415458720 1.  The thing that learned which surprised me the most was the 20/4/10 rule. I did not realize that you could make a downpayment when financing a vehicle. I suppose this makes sense since it is a loan just like a mortgage. It simply did not cross my mind and it would have been a great idea when I bought my car two years ago.

2. This topic is interesting and relevant to me because I bought a new car two years ago and did a little research, but I did not understand as clearly as I do now what I was getting into. Furthermore, the concept of buying and leasing translates to the concept of buying and renting a house (which will be my next large investment). Knowing my options and trying to make the best downpayment possible will be of great value to me.

3. The most important thing I would pass on to a family member is to take your time, understand what you are getting yourself into, look around for the best deal, and don't feel pressured to make an instant decision. You have to do what is sustainable with your budget, and what you will be thankful for in the future. Your purchases today effect your financial situation tomorrow.]]> 2019-11-22 18:58:01 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415458720 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415473579 2019-11-22 19:21:35 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415473579 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415473719 2019-11-22 19:21:47 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415473719 tristinjameshaines https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415474087 2019-11-22 19:22:23 UTC https://padlet.com/tristinjameshaines/5yyc98ys2vea/wish/415474087