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Crushing Debt Podcast

The Crushing Debt Podcast is for people who want to eliminate the financial bullies in their lives. It is for listeners who want more money at the end of the month, rather than more month at the end of the money. The podcast provides answers around such topics as real estate litigation, partition, quiet title, chapter 7 liquidation, chapter 13 reorganization, and Chapter 11 business bankruptcies, short sales, loan modifications, creditor harassment and other related topics.
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Mar 2, 2023

Should you lease or buy?

In this week's episode, Shawn and George discuss that age-old question, is it better to lease or buy a car?  George bought his cars. Shawn bought one (his wife's) and leases another (his). But which one is the better choice for you?

Some of the Pros of leasing a car: lower monthly payments, drive a better car for less money, get a new car every three years or so, lower maintenance costs because the car is newer or under warranty, and loyalty programs when you get a new car from the same dealership / finance company.

Some of the Cons of leasing a car: limited in mileage you can drive, no equity is built in a car, wear and tear charges or damages to be paid at the end of the lease term, and it may be difficult to return the car if your needs change during the term of the lease.

Advantages to buying a car: it's your car (you can customize or alter it however you want), no mileage limits, eventually the car is paid off and you no longer have to make payments, and you build equity in the car to use towards a down-payment on the next car.

Disadvantages of buying a car: higher monthly payments than leasing, the car depreciates in value quickly, downpayments (or trade-in) to buy a new or used car, you have to budget for annual repair or maintenance costs as the car ages, and higher insurance costs as the car ages.

Please let us know what do you think?  Should you lease or buy?

Please also visit our sponsors:

  • Sam Cohen of Attorneys First Insurance for Attorneys and Title Companies looking to get a quote on Errors & Ommissions (malpractice) Insurance coverage. www.AttorneysFirst.com
  • Mark Purvis to help retirees who are looking for a fun and rewarding project  by capturing wisdom and stories that will bless their families today and for generations to come. www.LegacySpotlight.com

Or, you can support the show by visiting our new Patreon page: https://www.patreon.com/crushingDebt 

To contact George Curbelo, you can email him at GCFinancialCoach21@gmail.com, or follow his Tiktok channel - https://www.tiktok.com/@curbelofinancialcoach 

To contact Shawn Yesner, you can email him at Shawn@Yesnerlaw.com or visit www.YesnerLaw.com

 

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