Leasing?

bid_time wrote:

Gunship Guy wrote:

cwill925 wrote:
I thought about leasing. Thought it was not for me. My policy is; if I want it, it comes with one payment, cash. No lease, no loans, no borrowing of any kind. If I can't afford to pay cash, I'm not ready to buy it. That doesn't work for everyone, but it works for me.

That's the policy we live by. We arrived at this thought process after mistakes made in our younger years when we first got married.

Everything we have now was acquired with cash. There is a special kind of freedom enjoyed by being able to full time totally debt-free.

Have you ever considered that you can get financing on big ticket items for a ridiculous number of years at 4.99% - While over the last 10 years my conservative investments have returned 7.5%+ average annualized return. Paying cash is not always the best investment.

I have considered the long term contracts and the interest rates that some consider low. In some cases you can show advantages in interest earned or dividends paid by leveraging debt. In business, sure, take those risks. In my personal finance issues, there are intangible factors that strike me as very important, and that is freedom from debt, and the feeling of full ownership, without indebtedness to any financial institution. If something happens to my household income, I don’t have to worry about making payments. All my possessions belong to me, the bank can’t call them back on failure to pay. It’s all personal preference, I choose financial security and peace of mind. Others don’t mind carrying debt for personal needs and wants. Both are OK.