Posted by SUPRDUD on Thursday, November 08, 2007 at 02:37:34 :
In Reply to: OT: question about leasing posted by John C on Wednesday, November 07, 2007 at 13:34:18 :
A lease is usually a way for someone to use an asset they can't afford. You could until the house came along and money is now tight. It is a very good idea to look first at reducing the car as new cars go down in value and the house should go up.
A good resource is DaveRamsey.com for financial advice.
The lease is the most expensive way to drive a car and BMW knows it. Looks good until miles get too many or all the other things that can add up. So no, there is never a cheap way to end the lease, it will not make BMW more money. Be sure to never let someone take over the lease unless you are actually legally removed from it. Otherwise you will be like a co-signer and still responsable for all costs if they stop paying.
Other unwanted advice from the get out of debt master Dave Ramsey would be:
NEVER BUY A HOUSE WITH A NON-SPOUSE!!!!
If you are not getting married to make it easier to maybe split later, imagine having a house involved in the mix. At least one of you own the house on your own to make it easier.
Good luck anyhow,
Troy.
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