Money Cardi B bought a $500,000 Lamborghini in cash—here's why experts agree with her choice not to lease

19:26  31 july  2018
19:26  31 july  2018 Source:   cnbc.com

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Cardi B responded swiftly by posting a screenshot of her bank account to Twitter. It revealed that she took out a cash deposit of 8,736.97 from her Wells Although half a million dollars is far more than the average person can afford to spend on a car, experts do back Cardi B ' s decision to buy , not lease .

Unless you have agreed to everything and are buying the car there is no reason to give any money. Click Here to Get Started. Here ' s some lies and half truths they will use to play games with you "If we don't beat the competitor's price we'll give you $ 500 !"

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On Saturday, Cardi B and her husband, the recording artist Offset, showed off their new rides on Instagram: two matching Lamborghinis, one Kelly green and one bright blue. "Blessed & Gifted," the rapper captioned her shot. "Official Lamb owners."

Some fans scoffed, claiming the musicians must have leased the cars rather than buying them outright and implying that there was so way they could afford two Lamborghinis.

Cardi B responded swiftly by posting a screenshot of her bank account to Twitter. It revealed that she took out a cash deposit of $548,736.97 from her Wells Fargo checking account to pay for the car. She took down the tweet shortly after, but not before followers got screenshots.

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And Cardi B proudly flaunted her dazzling $ 500 , 000 ring Monday night as she and her new fiance swung by West Hollywood strip club Ace Luann de Lesseps, 53, checks back into rehab after getting treatment in 2017 and Bethenny Frankel explains why 'It is the healthiest choice for her ,' she said.

Cardi B Shows Off Her Lamborghini Pink Slip & Bank Account Statement, But WHY ? Cardi B drops half a million cash on a Lambo when she could have spent way less to rent it and Cardi B bought a Lambo because she didnt want to lie in her raps but she doesn't have a licence 😂😂 whoo I'm dead!

Although half a million dollars is far more than the average person can afford to spend on a car, experts do back Cardi B's decision to buy, not lease. Jay Leno, car aficionado and host of CNBC's "Jay Leno's Garage," advises against leasing. So does financial expert and former CNBC host Suze Orman.

"I always think it's better to buy a car," Leno tells CNBC. "Everyone seems to lease now. Everyone thinks you can write off this and write off that, and to a certain extent, you can. But at the end of the lease, you don't have anything."

The comedian and former host of NBC's "The Tonight Show" prefers own assets outright. "I don't carry debt. I own everything. I own my buildings. I own my cars. That way, if it ends tomorrow, I know what I've got," he says.

Orman calls leasing a car "the most stupid thing I've ever done with money."

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Here ' s the true danger in buying an expensive car. I think the challenge is that most people do’nt buy a , 000 car with cash , they finance it and pay interest as well. I would much rather have a $ 500 repair once or twice a year than a 0 car payment every month.

- Business trips: local currency or foreign currencies: XAF 25, 000 .- per day with a maximum of XAF 500 , 000 .-, or equivalent. The key here is why you are travelling with so much cash .

Back in 1987, she leased a BMW 750iL in order to show off to the person she was dating. "There was a time that I was in a relationship with a very, very wealthy person and I wanted to impress this person and I didn't have money yet, so I went out and I leased a car," she tells CNBC.

But Orman wasn't spending the money for the right reasons, and the $800 monthly payments ended up being more than she could afford.

"That's where I came up with this statement, you know: Don't spend money you don't have to impress people you don't even like, because the truth of the matter is later I didn't even like this person and I'm spending all of this money," she says.

While lease payments are typically cheaper per month than loan payments, they still add up over time. Once you pay off your auto loan, you eliminate a fixed monthly cost and won't have to worry about a car payment until you buy again. If you're still leasing, that's another check you continue to write every month.

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Everybody knows " buy used car in cash " is the generally accepted, financially sound decision, but let' s assume one wants a nice, fresh, brand-new car. Given: Car is , 000 .

Here ' s a couple examples: 2015 Lamborghini Huracan Coupe LP 610-4 AWD for sale for 9,999 it's MSRP is 3 Remember ONE of the big RULES of CASH flow is it NEVER LAST FOR EVER. Best of Luck. For the vast majority of the world, yes , 000 , 000 per year is enough to buy a supercar.

Like going out to eat all the time, small individual payments can become huge annual costs.

If you're debating which option is best for you, take the time to deliberate and weigh the pros and cons. And before signing up for an expensive lease, consider Orman's advice and ask yourself, "When do you buy what you can afford versus what you need, when what you need is less than what you can afford?"

This is an updated version of a previously published story.

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