Rent or Buy: What is your philosophy?

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Connor Hoyt
May 22, 2017 11:37 AM 0 Answers
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Yes I agree. No simple answers.

Another example is the advice that you should never buy a brand new car. The second you drive the car off the lot it becomes used and therefore much less valuable.

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You always must compare the rental price including deposit versus the asset cost. You need to know the useful life of the asset and the salvage value. There is no simple answer. Simple rules are not always the best response. Taxation and financing issues could also affect the outcome of the best answer.

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