Liar Loan
Well-known member
This is not the best rule. Buy things you plan to use long term and frequently, and rent things you plan to use short term or infrequently.
ICE or EV?
- Thread starter irvinehomeowner
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And it's not that simple. Depends on the variables.
Or else you would not have been telling people to rent for years.
Who knew a simple bit of financial wisdom regarding when to rent would affect you this way? Is this because you are thinking of selling your Irvine home to rent elsewhere?
morekaos
Well-known member
Of course they do….
Why nearly half of EV owners want to switch back to gas vehicles after major buyer's remorse
A McKinsey Mobility Consumer Pulse presentation released in June 2024 by McKinsey & Company indicated that 46 percent of EV owners in the US are 'very' likely to switch back to gas-powered vehicles.
Liar Loan
Well-known member
The switch from coal to gas-powered should be a net benefit for the environment!Of course they do….
Why nearly half of EV owners want to switch back to gas vehicles after major buyer's remorse
A McKinsey Mobility Consumer Pulse presentation released in June 2024 by McKinsey & Company indicated that 46 percent of EV owners in the US are 'very' likely to switch back to gas-powered vehicles.
irvinehomeowner
Well-known member
Did not say that's best rule.
And it's not that simple. Depends on the variables.
Or else you would not have been telling people to rent for years.
Liar Loan
Well-known member
Nonsense, my advice still stands. I've never been against renting if you plan to move again in a relatively short amount of time.Did not say that's best rule.
And it's not that simple. Depends on the variables.
Or else you would not have been telling people to rent for years.
irvinehomeowner
Well-known member
You've been saying not to buy for at least 6 years... that's not a short amount of time.
It's okay to be as wrong as you have been.
It's okay to be as wrong as you have been.
irvinehomeowner
Well-known member
Uh... you just proved my point... there are times when you should rent.
Thanks.
Thanks.
irvinehomeowner
Well-known member
Not an asset if you are renting.
irvinehomeowner
Well-known member
Let me level set... If you plan on keeping something for a long time, depreciating or not, you usually buy. But if it's something you will constantly replace... and can afford... you rent. It's like smartphones... not many are "buying" them new outright, they go on some subsidized plan and pay a monthly but 2 years down the road, they get the next model.
There have been cases where if you lease a car and invest the difference, and then buy it out at the end of the lease, you end up in the same or better outlay than if you financed the same car.
It all depends on the variables.
Good thing too... Morekaos will be happy to hear that EV used values have tanked... And I know I won't be keeping an EV past 3 years so if I financed one (esp with the high rates), it would be hard to trade-in for equal value.
And like I said, if you really want to buy, most EVs don't qualify for credits on a purchase, but if you lease and then buy it out (even immediately), depending on the lessor, you could save $7500+ over a purchase.
There have been cases where if you lease a car and invest the difference, and then buy it out at the end of the lease, you end up in the same or better outlay than if you financed the same car.
It all depends on the variables.
Good thing too... Morekaos will be happy to hear that EV used values have tanked... And I know I won't be keeping an EV past 3 years so if I financed one (esp with the high rates), it would be hard to trade-in for equal value.
And like I said, if you really want to buy, most EVs don't qualify for credits on a purchase, but if you lease and then buy it out (even immediately), depending on the lessor, you could save $7500+ over a purchase.
irvinehomeowner
Well-known member
Oh... And we did buy one EV... It was less than $30k (for LL who keeps stalking me).
Liar Loan
Well-known member
That's a an easily debunked lie on your part, otherwise known as a strawman argument.
irvinehomeowner
Well-known member
Show me where you said to buy. Your feelings are so fragile.
Liar Loan
Well-known member
Next you'll be trying to argue my golf handicap.
irvinehomeowner
Well-known member
You're the one who started questioning the price of my EV. Well, actually... You started long ago questioning my personal home buying process and prices. So don't poke if you don't want to be poked.
BTW: Still waiting for that rising inventory to drop prices... Or rising interest rate... Or whatever other thing that you predict will bring "pain" to Irvine home owners. Which reminds me... I have a new poll I should post.
BTW: Still waiting for that rising inventory to drop prices... Or rising interest rate... Or whatever other thing that you predict will bring "pain" to Irvine home owners. Which reminds me... I have a new poll I should post.
Liar Loan
Well-known member
Long ago you lost money on real estate and you've never taken personal responsibility for it. You've always tried placing blame on Larry, or me, or somebody else for your problems.
irvinehomeowner
Well-known member
Haha. I didn't lose anything. And don't blame you for anything except your bad advice to TI readers... but nice try.
Sorry... I guess you get triggered by the truth.
Sorry... I guess you get triggered by the truth.
Liar Loan
Well-known member
You've always blamed Larry for your bad decision making during the GFC. And since he isn't here, I've become the proxy that you blame in his absence, even though all I've done is try to help you over the years.
Who knew a simple bit of financial wisdom regarding when to rent would affect you this way? Is this because you are thinking of selling your Irvine home to rent elsewhere?