Could you pass up a car like that?

Dated: October 10 2020

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When you purchase a home to live in, you take advantage of a unique opportunity that can improve your financial standing for the rest of your life. The amount of money involved, and the ongoing responsibility of home ownership may seem daunting at first, but consider this thought experiment to put things into perspective.

Everyone needs a place where they can keep their things and where they can comfortably sleep at night. We all also need a way to get around. So, people generally rent or buy a home, and lease or buy a car.

Suppose there was a kind of car you could buy that reduced your income tax burden, so you could either keep more of each paycheck or collect a large refund at tax time. This kind of car would not lose value with the passing miles and years—instead, you could sell it for the same or even more money after using it for years. Wouldn’t choosing to buy that car be a no-brainer? And wouldn’t leasing a car seem foolish when it means passing up that opportunity? 

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DAVID DUNLAP

As a residential real estate executive with an extensive background in corporate marketing, I am able to apply unusually strong skills in marketing communications, e-marketing, strategic planning and ....

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