Commercial Mortgage Lender Bailey
Commercial Mortgage LenderForum Replies Created
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Mega Realtors doing over $2 Billion of annual revenue are not part of the settlement but need to pay the higher dues.
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The main difference between a car purchase and an auto lease lies in the ownership and long-term costs associated with each option:
Car Purchase:
- Ownership: When you purchase a car, you own it outright after making all the payments.
- Financing: You typically finance the purchase through a loan and pay it off over several years (usually 3-7 years).
- Equity: As you pay down the loan, you build equity in the vehicle, which you can cash out by selling or trading it in.
- Unlimited Mileage: There are no mileage restrictions when you own the car.
- Long-term Costs: After the loan is paid off, you only have to cover maintenance, insurance, and operating costs.
Auto Lease:
- Ownership: You don’t own the car; instead, you pay to use it for a predetermined period (usually 2-4 years).
- Leasing Payments: You make monthly lease payments, which are generally lower than loan payments for the same car.
- No Equity: At the end of the lease, you have no ownership or equity in the vehicle.
- Mileage Limits: Most leases come with annual mileage limits (e.g., 10,000-15,000 miles), and you pay extra for exceeding them.
- Long-term Costs: After the lease ends, you either return the car or purchase it at a predetermined residual value. You then have to start a new lease or purchase a different vehicle.
- Wear and Tear: You may have to pay fees for excessive wear and tear when returning the leased car.
In summary, a car purchase gives you ownership and equity but higher upfront and long-term costs, while an auto lease provides lower monthly payments but no ownership, mileage restrictions, and additional fees or costs at the end of the lease term.
The best choice depends on your driving habits, budget, and personal preferences regarding ownership and long-term costs.
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This reply was modified 7 months, 3 weeks ago by
Gustan.
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Yes, @Lilboss that is true. Inflation is skyrocketing to 30 year highs, mortgage rates are surging and went up from 3.0% two years ago and now is 7.5%, home prices have gone up 50% or more in many parts of the country so many homebuyers are priced out of the housing market, grocery prices are double and triple of what they were, the media is lying, Big Mac meals are $18.00, the coronavirus outbreak is a sham and a mean of depopulation, Biden is lying, and old bag Janet Yellen is lying and kissing Joe Biden’s ass. Never before has the U.S. economy been so worse off than it is now. People are losing their jobs, many cannot afford their housing payments and utilities, $100,000 salary per year used to be high income but you can barely get by with a six figure income. Most Americans live paycheck to paycheck, credit card companies are lowering the credit limits of consumers. Bankruptcy and Foreclosure will skyrocket and maybe worse than the 2008 financial crisis.
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Lucky Chen Chinese Restaurant in Salem, Wisconsin has the best sweet and sour mushroom soup. Mark Chen makes great sweet and sour mushroom soup with lots of vegetables and the soup is thick.
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If a person, let’s call him John Doe, is the control person for a mortgage company that has recently filed for bankruptcy and is going out of business. John Doe, the control person will be in charge of maintaining and destroying the records of the company. In Utah, all mortgage loan related records must be maintained for a minimum of four years.
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Can James get us inventory from the banks his company represents and what states are foreclosure properties available if they are.
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Forgot to post the link to the article I read
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Which of the following definitions best describes a consumer and a customer, according to GLBA? A consumer is just shopping or checking your website; a customer fills out the application, gets approved, and you close the loan
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What are the basic lending requirements on non-QM loans besides the debt-to-income ratio. Here are the questions I have on non-QM loans on owner-occupant, second homes, and investment properties.
1. Loan to value
2. How many credit tradelines is required and do you take non-traditional credit tradelines.
3. Verification of rent required?
4. Recent late payment allowed?
5. What are the minimum and maximum loan amounts
6. Are credit disputes allowed?