Damn Shame: Michael Spinks was selling all of his cars belongings

[Blooper]

why lease a car?? at the end of the day the car is not yours. and you pay monthly plus you have to get it services by the dealership

it's not that simple.

there are many articles out there discussing the pros and cons of leasing vs buying and vice versa.

[-EX-]

I hope everything works out for him...there is no retirement plan for boxing or other sports...gotta manage your money right...

[Jim Tom]

Selling cars doesnt mean someone is broke.He probably bought those cars as investments.Cars normally lose value with age to a certain level.Some actually appreciate with time that's why Evans bought a Ferrari for £12m recently.The original price was not worth that much.Fund managers add real estate and cars to portfolios.Real Estate is down at the moment but precious metals and cars are up in value so if Spinks needs liquidity and realising full investment potential disposal of assets is best option.Also having been a Champion adds value to whatever he once possesed.

You might also know that Lionel Ritchie collects every car he has ever had.There might come a day he might want to dispose of such not necessarily because he will be broke.Until we hear the reason Spinks's selling I wouldnt just make judgements.

[Ninth302]

why lease a car?? at the end of the day the car is not yours. and you pay monthly plus you have to get it services by the dealership

Lol watch who you say this to. Hahaha, nah but really its better. I own an old acura TL 3.2 that I drive to work due to driving from Philly to DE daily, and I lease a BMW. Its actually cool. I'm not locked in forever trying to pay a car off like most people and after the lease is up I'll get the newest version... That's why I chose to lease. To make sure I kept the newest ****.

[Blooper]

Lol watch who you say this to. Hahaha, nah but really its better. I own an old acura TL 3.2 that I drive to work due to driving from Philly to DE daily, and I lease a BMW. Its actually cool. I'm not locked in forever trying to pay a car off like most people and after the lease is up I'll get the newest version... That's why I chose to lease. To make sure I kept the newest ****.

i never thought i'd see the day that you'd post something remotely sane.

i guess there's always a first for everything.

[Jim Tom]

Lol watch who you say this to. Hahaha, nah but really its better. I own an old acura TL 3.2 that I drive to work due to driving from Philly to DE daily, and I lease a BMW. Its actually cool. I'm not locked in forever trying to pay a car off like most people and after the lease is up I'll get the newest version... That's why I chose to lease. To make sure I kept the newest ****.

You get the newest stuff at a premium of course.I guess it's a tradeoff about driving the newest car or getting the most value.If you do your NPV you will obviously notice that buying adds value unlike leasing.The thing however is about utility,you enjoy the latest car so economy moves out of the window,after all you are concerned with consumption.

The thread starter however was wrong in his assertions on leasing being better.Rich people lease because they are concerned with consumption not returns.That's another way they enjoy their wealth.