Quote:
Originally Posted by ZionsWrath
I think the op is trying to get at why are you spending money on a car you do not own.
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To some degree this is what was intended, but in terms of owning a financed vehicle, I think the quoted below is on point. Because if the above statement falls into everything you finance ie: a home. Then why spend money refurnishing a house you don't own?
Quote:
Originally Posted by n2oinferno
You do own it, but the property is treated as collateral. And because of this, the lienholder has the ability to collect your property if the debtor doesn't meet the obligations set in the loan contract.
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Anyways, I primarily wanted to know how many individuals are digging the whole of the dept bigger (if that analogy makes any sense) and if it's truly worth it.
Also I meant finance not lease, though technically the same. Just that leasing is more along the lines of "renting". As financing it, you have the option to pay it off, if and when possible (as long as its within the loan terms).