Best In Wealth - Best Practices For Real People, Investments, Retirement Planning, Money Management, Wealth Building, Financi

Replacing an automobile is an inevitable and recurring life event. Many of my clients struggle with the question—buy or lease? If you buy, should you buy new or used? What would Dave Ramsey say? He does not want you to borrow money, lease a car, or even buy a new car. Do not get me wrong, I love being able to pay cash for a car. But I have been in situations where I have been presented with 0% or 0.9% financing. I went to a dealership with cash and was told if I got a loan—even for 3 months—I would get a percentage off the car. The bottom line is that the preferences and needs of each individual must be considered along with the overall costs. Many competing factors bear differing degrees of importance. Fortress Planning Group has a flowchart to cover the key things to consider: cost, cashflow, mileage, safety, technology, depreciation, and flexibility. In this episode of Best in Wealth, I want to help you identify the best course of action for you. Let’s walk through the questions you need to consider to