So its time to junk our buick

[The Prowler]

I just did an online Build Your Own of a Lincoln Navigator. I added the highest priced options I could see and it came to
$104,195. Say $110,000 if the dealership adds all kinds of bullshit fees and with tax that is only $124,300 @Joe.

You could not buy that vehicle, @Joe?

Did you not save for retirement, @Joe?

Or did you always know you could count on the government to bail you out because of your disability? Keep you living just above the poverty line...

 

[Joe]

I just did an online Build Your Own of a Lincoln Navigator. I added the highest priced options I could see and it came to
$104,195. Say $110,000 if the dealership adds all kinds of bullshit fees and with tax that is only $124,300 @Joe.

You could not buy that vehicle, @Joe?

Did you not save for retirement, @Joe?

Or did you always know you could count on the government to bail you out because of your disability? Keep you living just above the poverty line...

Yeah I have a friend who used to own 1.

I think he paid $80,000 for his. The newer ones are no doubt expensive cuz they have added features that his didn't. He used to tell me how much better they were than his wished he could buy one.

But he had to sell or give it up cuz he couldn't afford to keep it anymore. Expensive car payments. Plus the Navigator or its competitor the Escalade are gas guzzlers.

You clearly dont understand how that industry works @The Prowler. Hardly anyone buys a car outright. They buy a new car on credit. Or lease. And then depend on monthly revenues to cover the monthly car payments.

And if they can't afford to keep the car they have ta sell it.

The driving industry is a tough & cutthroat business.

If I were to do that sort of thing (which I won't ), i'd have to team up with someone like my friend who knew a Lotta people and could get jobs cuz he was very good. Own the car but let him do the driving & the talking as the front man.

 

[Dove]

We are a renting a newer car. A GMC Terrain. Not sure what year but its newer and it has a bunch of buttons instead of a gear stick. Like shift buttons.

And its has a screen where you can see behind you when you are backing out.

I dont really like any of it. I HATE the weird shift buttons.

I'm definately not liking the rental but my husband is driving it so....I dont need to like it. At least we have something!

 

[The Prowler]

Hardly anyone buys a car outright.

Because it is a low-skill job that attracts low-skilled people. Low-skilled people are paid less because they are worth less, so they do not usually have a lot of savings.

But I was commenting specifically on your situation, @Joe. You are an old fucker without enough money to write a cheque for a $125,000. At your age, you should have that much money as your disposal.

For someone who focuses on money so much, it is really sad that you have mismanaged your finances to be in this shitty position.

We are a renting a newer car. A GMC Terrain. Not sure what year but its newer and it has a bunch of buttons instead of a gear stick. Like shift buttons.

And its has a screen where you can see behind you when you are backing out.

I dont really like any of it. I HATE the weird shift buttons.

I'm definately not liking the rental but my husband is driving it so....I dont need to like it. At least we have something!

Is that is pretty expensive, Dovey?

If it is, you should talk to people who know the used car market and get their advice. Or find out what is around you that seems like a good deal and then research that model year of car and see if there were major problems, etc..

 

[Dove]

And we are now the owners of a 2015 Ford Focus we got for 11k. Low miles and it's very very clean. Almost like it's never even been driven.

And we are not financing it. Just paid for it with a check.

Yay us!

I still want a pick up truck. I'm junking the buick tomorrow.

I shall show off our new (to us) car when its here. It's with my husband :D I have not actually seen it yet.

 

[The Prowler]

And we are not financing it. Just paid for it with a check.

Good decision.

 

[Joe]

Hardly anyone buys a car outright.

Because it is a low-skill job that attracts low-skilled people. Low-skilled people are paid less because they are worth less, so they do not usually have a lot of savings.

But I was commenting specifically on your situation, @Joe. You are an old fucker without enough money to write a cheque for a $125,000. At your age, you should have that much money as your disposal.

For someone who focuses on money so much, it is really sad that you have mismanaged your finances to be in this shitty position.

...Hey dummy, shows how little you know about that business.

No smart businessowner in the limo biz is gonna plunk down 100% down for a vehicle if it's a business expense.

That's not how it's done. No matter how monied that owner is.

That would be expending excess resources which could be spent on something else.

Businesses need cash flow. Why would they blow or plunk down that much money at once when it could be used to run other parts of the business....

....or be used to start another business venture @The Prowler.

Or buy other assets.

Fuck yer dumb. You're really fucking stupid and you've just demonstrated you don't know that business or understand how it's run.

If you ran limo business like that you'd go broke in no time flat.

When it's a depreciating business asset it's not your personal toy.
It's used to generate revenues and hopefuly make a profit.

Here, if you wanna know how its done, phone this company in Vancouver who were/are the primary suppliers of vehicles in the limo Business Prowler and ask them about financing options:

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Even the largest limo company in Vancouver rarely puts down 100% like that.
Otherwise just like any business, they'd be giving up valuable cash

I know. Because I worked for them.

and the owner owned an entire city block of prime real estate in the heart of Vancouver.

The guy was filthy rich

 

[The Prowler]

@Joe, there is a reason you cannot write a cheque for $125K and a reason that I can.

And it is directly related to me being better with money than you.

 

[Joe]

@Joe, there is a reason you cannot write a cheque for $125K and a reason that I can.

And it is directly related to me being better with money than you.

...but yer a fool Prowler.

No sensible business owner would tie up $125,000 of their own cash in a single limousine since it's a business expense.

It doesn't work like that, idiot.

 

[Joe]

@Joe, there is a reason you cannot write a cheque for $125K and a reason that I can.

...but if it's a limousine business, no matter how wealthy the owner is, it's very unlikely that they'll throw $125,000 all at once to pay for a vehicle.

Otherwise they'd be tying up all this cash in one asset which could be used more effectively somewhere else.

...or even to buy multiple vehicles.

 

[Oerdin]

And we are now the owners of a 2015 Ford Focus we got for 11k. Low miles and it's very very clean. Almost like it's never even been driven.

And we are not financing it. Just paid for it with a check.

Yay us!

I still want a pick up truck. I'm junking the buick tomorrow.

I shall show off our new (to us) car when its here. It's with my husband :D I have not actually seen it yet.

I would have avoided a Focus due to bad reviews but these days you have to take what you can get. Everything costs an arm and a leg in the car business right now. In 2019 I saw three year old Hyundai Sonatas for $11000 with 50k miles for sale by Hertz car sales but we decided to just buy a new Camry for $20,800 out the door (tax, title, license, everything). The sticker was $26,800 but they had $3000 cash back, and $1000 incentive pay for left over 2019s and my dad helped me negotiate the price down. Now, there are no discounts no incentives, and they only male top line models.

Still, even the Camry LE had power everything, lots of safety extras and upgrades standard, plus the 2.4L 210hp motor is reasonably quick and peppy when mated to the smooth and reliable Toyota eight speed automatic. It is a surprisingly good car and perfect as my wife's grocery getter and kid hauler. 2.25 years later and it still only has 19,000 miles on it. I want to keep my 2016 Tacoma as it is always useful to have a truck but I am currently drooling over details of next year's supposedly redesigned 4Runner. I may wait a year or two though until the fuckers stop jacking prices up 30% or more just because they can.

 

[Dove]

And we are now the owners of a 2015 Ford Focus we got for 11k. Low miles and it's very very clean. Almost like it's never even been driven.

And we are not financing it. Just paid for it with a check.

Yay us!

I still want a pick up truck. I'm junking the buick tomorrow.

I shall show off our new (to us) car when its here. It's with my husband :D I have not actually seen it yet.

I would have avoided a Focus due to bad reviews but these days you have to take what you can get. Everything costs an arm and a leg in the car business right now. In 2019 I saw three year old Hyundai Sonatas for $11000 with 50k miles for sale by Hertz car sales but we decided to just buy a new Camry for $20,800 out the door (tax, title, license, everything). The sticker was $26,800 but they had $3000 cash back, and $1000 incentive pay for left over 2019s and my dad helped me negotiate the price down. Now, there are no discounts no incentives, and they only male top line models.

Still, even the Camry LE had power everything, lots of safety extras and upgrades standard, plus the 2.4L 210hp motor is reasonably quick and peppy when mated to the smooth and reliable Toyota eight speed automatic. It is a surprisingly good car and perfect as my wife's grocery getter and kid hauler. 2.25 years later and it still only has 19,000 miles on it. I want to keep my 2016 Tacoma as it is always useful to have a truck but I am currently drooling over details of next year's supposedly redesigned 4Runner. I may wait a year or two though until the fuckers stop jacking prices up 30% or more just because they can.

Yeah this car was a pretty good deal considering. I cant believe what's being asked for used cars right now.

This car has 70k miles. My husband said it's in really good condition.

I havent seen it yet but I trust him. And ...he is the one who will be driving it.

 

[The Prowler]

@Joe, there is a reason you cannot write a cheque for $125K and a reason that I can.

...but if it's a limousine business, no matter how wealthy the owner is, it's very unlikely that they'll throw $125,000 all at once to pay for a vehicle.

Otherwise they'd be tying up all this cash in one asset which could be used more effectively somewhere else.

...or even to buy multiple vehicles.

You should probably be quiet on this, @Joe. You really have no clue.

You seem to be accustomed to situations where people have to go into debt to go into business.

At your age, @Joe, that would be a strong indication that you are not good with money.

At your age, @Joe, you should have a variety of investments and you should be at the point where you do not have to take on debt.

At your age, @Joe, if you have put yourself in a position that you would have to take on debt to start a business, then you should not start a business, because you have proven that you are not good with money. Haha!!!

 

[The Prowler]

This car has 70k miles. My husband said it's in really good condition.

For what it is worth, my oldest sister has a Ford Focus, a Porsche Boxster (chick car), and a Cadillac SRX and I think she likes the Ford Focus the most as an everyday get-around-town car.

 

[Joe]

@Joe, there is a reason you cannot write a cheque for $125K and a reason that I can.

...but if it's a limousine business, no matter how wealthy the owner is, it's very unlikely that they'll throw $125,000 all at once to pay for a vehicle.

Otherwise they'd be tying up all this cash in one asset which could be used more effectively somewhere else.

...or even to buy multiple vehicles.

You should probably be quiet on this, @Joe. You really have no clue.

You seem to be accustomed to situations where people have to go into debt to go into business.

At your age, @Joe, that would be a strong indication that you are not good with money.

At your age, @Joe, you should have a variety of investments and you should be at the point where you do not have to take on debt.

At your age, @Joe, if you have put yourself in a position that you would have to take on debt to start a business, then you should not start a business, because you have proven that you are not good with money. Haha!!!

...but you've demonstrated why you don't understand WHY limousine business owners, bus companies or any other transportation company would tie up that much cash in one asset all at one time.

And you do realize that the interest paid on a financed vehicle can be written off in taxes as a business expense, right?

Please, Log in or Register to view URLs content!

....so if you have a smart enough accountant, they'll be able to swing it so the business owner pays less tax, retains more of his cash and extends it further.

Get it stupid?

Just like everything you write about in this forum your topics or what you say go nowhere @The Prowler.

 

[The Prowler]

they'll be able to swing it so the business owner pays less tax

Yeah, when you make less profit, you pay less tax.

The real goal in business is to make more profit, not less.

Holy fuck, you are clueless!!!!

Hahahahaha!!!!

 

[Joe]

they'll be able to swing it so the business owner pays less tax

Yeah, when you make less profit, you pay less tax.

The real goal in business is to make more profit, not less.

Holy fuck, you are clueless!!!!

Hahahahaha!!!!

...so why would a limousine business owner tie up $125,000 of cash in one vehicle Prowler?

What if the vehicle is a lemon?

What if the vehicle gets totalled in an accident?

And what if that money could be put towards better use or another business opportunity comes along?

Oh according to Prowler's world...smart savvy buiness owners throws $125,000 of his own cash away on a single vehicle so that when another business opportunity comes along, related or unrelated to the limo business, he has no spare cash left over.

Sorry, he couldn't do it because he spent all of his cash on a single limo.

My ...that's a smart way to run a business....dumbass.

 

[The Prowler]

...so why would a limousine business owner tie up $125,000 of cash in one vehicle Prowler?

Because that is what it costs for the vehicle.

What if the vehicle is a lemon?

That would suck. Financing a vehicle does not ensure that it is not a lemon, you ignorant twat.

What if the vehicle gets totalled in an accident?

That would suck. Financing a vehicle does not ensure that will not be totalled in an accident, you ignorant twat.

And what if that money could be put towards better use or another business opportunity comes along?

If it becomes necessary to borrow, then that decision has to be made. But someone your age, @Joe, should not have to borrow money for a business that has a startup cost of under $500K.

Oh according to Prowler's world...smart savvy buiness owners throws $125,000 of his own cash away on a single vehicle so that when another business opportunity comes along, related or unrelated to the limo business, he has no spare cash left over.

If he is as old as you, @Joe, then if he has the $125K, he should not borrow it. If he does not have the $125K, then he is not good with money and should not be going into business.

Sorry, he couldn't do it because he spent all of his cash on a single limo.

That's a smart way to run a business....dumbass.

Why would you assume that $125K is all the money that he has to invest in the business?

Oh yeah, because you are not good with money.

 

[Joe]

If he is as old as you, @Joe, then if he has the $125K, he should not borrow it. If he does not have the $125K, then he is not good with money and should not be going into business

...then you clearly don't understand the limousine/transportation business and how they operate @The Prowler.

and like everything else that evades you, you don't seem to understand that the commercial division of a large dealership wouldn't expect the business owner to plunk down $125,000 all at once.

I mean...they'd be delighted to get that much cash at once. but it's unlikely that they'd demand it, unless the customer had extremely poor credit or untrustworthiness. That's why they have 48, 60 month payment or vehicle leasing plans.

Also as business, the dealiership has also their line of credit to purchase all those vehicles they buy at wholesale to sell to their customers.

Of course you're also aware that many transportation companies have the option to lease, right? With the mileage they rack on those vehicles in such a short time it's a viable option because at the end of the lease they can get a lease on a brand new vehicle instead of hanging on to an older used one potentially with mechanical problems.

Again Prowler, a limousine is not intended as a personal vehicle.

It's a business asset which is intended to make money and not for pleasure.

It's a completely different purpose which you don't seem to be aware of.

 

[The Prowler]

There is a reason you are in the financial position you are in, @Joe.

The advantage of leasing over financing is that with a lease you are able to expense the entire amount of the lease payments; when you own, you can expense the depreciation of the vehicle. With a car/limo, the difference would be negligible. But the most desirable position for a business owner is to own all assets; no loans, no leases.

Your idea of driving the vehicle into the ground before the end of the lease is nonsense. Dealerships price leases so the residual value of the asset will be more than the initial retail price less lease payments. In other words, the dealership will make money on the lease, and it will make money on the sale of the used vehicle.

The thing is, @Joe, someone your age should not have to borrow to go into business.

 

[Joe]

There is a reason you are in the financial position you are in, @Joe.

The advantage of leasing over financing is that with a lease you are able to expense the entire amount of the lease payments; when you own, you can expense the depreciation of the vehicle. With a car/limo, the difference would be negligible. But the most desirable position for a business owner is to own all assets; no loans, no leases.

Your idea of driving the vehicle into the ground before the end of the lease is nonsense. Dealerships price leases so the residual value of the asset will be more than the initial retail price less lease payments. In other words, the dealership will make money on the lease, and it will make money on the sale of the used vehicle.

The thing is, @Joe, someone your age should not have to borrow to go into business.

So enligthen me on this aspect of the business, dumbass.

Why would any sensible business owner/entrepreneur throw ALL of that $125,000 at a single vehicle and tie that much of their own cash in it when it could be used for other purposes?

Would it not make more sense to put down a smaller down payment while still being able to hang on to most of that cash so that it could be used for other purposes?

and what if the owner could buy 5 cars all at once on financing, deploy them simultaneously with different drivers and make 5 times as much as just one vehilcle?

Seems the approach you've take is to throw all your eggs in one basket and reduce your potential revenues.

Bet the farm on just one car.

And if the interest payments can be written off on taxes, woudn't any sensible business owner take advantage of that?

 

[The Prowler]

So enligthen me on this aspect of the business, because I am a dumbass.

Fixed.

Why would any sensible business owner/entrepreneur throw ALL of that $125,000 at a single vehicle and tie that much of their own cash in it when it could be used for other purposes?

Because they also have cash for those other purposes.

Would it not make more sense to put down a smaller down payment while still being able to hang on to most of that cash so that it could be used for other purposes?

It would make more sense for someone your age, @Joe, to already have the cash for other purposes.

and what if the owner could buy 5 cars all at once on financing, deploy them simultaneously with different drivers and make 5 times as much as just one vehilcle?

Now you are talking about a much larger business venture. Changing goalposts is a sign that you realize that you have lost the argument, @Joe.

We were always talking about one car, @Joe, and your pathetic inability to buy it outright at your advanced age.

Seems the approach you've take is to throw all your eggs in one basket and reduce your potential revenues.

Seems the approach I have taken has left me with the ability to write a cheque for 5 limos and everything else needed to run a limo business and keep all my other possessions and a big chunk of savings and not have to take a loan, and the approach you have taken has left you unable to write a cheque for $125K.

So do you really want to compare notes on approaches, @Joe? Hahaha!!!

Bet the farm on just one car.

Hahaha!!!!

You think borrowing for 5 limos is a more financially conservative and sound approach? You cannot be that dumb!!!

And if the interest payments can be written off on taxes, woudn't any sensible business owner take advantage of that?

Because the idea is to make more profit, @Joe. Only stupid people think "Well I can write-off expenses, so I should increase expenses."

This is the problem with you, @Joe. On so many things. You are always on the outside, looking in. You are a dumb shit limo driver, not a business owner. You only see little bits of the big picture, and think that is all there is to it.

I, @Joe, do own my own company. A successful company. People like you are the reason most businesses fail. Stupid people like you.

 

[Joe]

I, @Joe, do own my own company. A successful company. People like you are the reason most businesses fail. Stupid people like you.

...and it's evident that you don't understand the Business Model of running a transportation company.

If you did, you wouldn't be talking of your ass.
Because every statement you've made indicates that you don't know what you're talking about.

You come across as a schmoe who 'runs' some nebulous enterprise out of a basement.

A 'successful' and 'respectable' businessmen who spends his full time running down middle aged housewives/mothers in this forum with misogynistic rants? A successful businessman would be ashamed of your conduct in this forum @The Prowler plus they wouldn't have the time to waste here because they're too busy running their businesses, making deals...and making money. They are in the business of running actual businesses, not trolling to elicit reactions as some stunt.

You're like every bullshit Internet Millionaire I've met on these forums.
If you waste all your time on this forum like you do, I simply don't believe that you are a successful businessman. More like Someone who's experienced personal trauma or loss in his life and then takes his frustrations on others. But a successful businessman? uh uh. no way. You don't use your time effectively like a successful businessman would.

You're nothing but an emotionally stunted overgrown teenager.

 

[Oerdin]

@Joe, there is a reason you cannot write a cheque for $125K and a reason that I can.

And it is directly related to me being better with money than you.

Don't get too cocky as I am not keeping $125,000 in a low interest checking account during 7.5% inflation caused by Biden and the Democrats. Even C.O.D.s don't make remote sense in a high inflation environment. I could draw on lines of credit or index funds. If I really had to I could draw on retirement funds or refinance real estate though that would be a last resort. I truly try to minimize cash on hand as the inflation rate means that is constantly losing money.

Oh, and, fuck, no, I would not provide $125,000 in capitalization to buy a limo. I would incorporate, borrow against the corporation with a modest down payment, and use to rest for operating expenses. I also would never do that without a strong business plan which beats my other options. I guess that is just me though.

 

[The Prowler]

I, @Joe, do own my own company. A successful company. People like you are the reason most businesses fail. Stupid people like you.

...and it's evident that you don't understand the Business Model of running a transportation company.

If you did, you wouldn't be talking of your ass.
Because every statement you've made indicates that you don't know what you're talking about.

You come across as a schmoe who 'runs' some nebulous enterprise out of a basement.

A 'successful' and 'respectable' businessmen who spends his full time running down middle aged housewives/mothers in this forum with misogynistic rants? A successful businessman would be ashamed of your conduct in this forum @The Prowler plus they wouldn't have the time to waste here because they're too busy running their businesses, making deals...and making money. They are in the business of running actual businesses, not trolling to elicit reactions as some stunt.

You're like every bullshit Internet Millionaire I've met on these forums.
If you waste all your time on this forum like you do, I simply don't believe that you are a successful businessman. Someone who's experienced trauma and loss in his life and takes his frustrations on others. But a successful businessman? uh uh. no way. You don't use your time effectively like a successful businessman would.

You're nothing but an emotionally stunted overgrown teenager.

Hahaha!!!

When I say 95% retired, I mean exactly that. I spend about 2 hours in an average week on my business.

And, honestly @Joe, I had no idea you were a middle aged housewife/mother.

 

[The Prowler]

Don't get too cocky as I am not keeping $125,000 in a low interest checking account during 7.5% inflation caused by Biden and the Democrats. Even C.O.D.s don't make remote sense in a high inflation environment. I could draw on lines of credit or index funds. If I really had to I could draw on retirement funds or refinance real estate though that would be a last resort. I truly try to minimize cash on hand as the inflation rate means that is constantly losing money.

I am not keeping $125K in a chequing account. My bank account has a built-in line of credit for about $200K. Anything I went into debt for, I would replenish by selling securities in my cash trading account and/or my TFSA account and/or RSP trading account. I am too young to draw from any of my pension accounts.

Oh, and, fuck, no, I would not provide $125,000 in capitalization to buy a limo. I would incorporate, borrow against the corporation with a modest down payment, and use to rest for operating expenses. I also would never do that without a strong business plan which beats my other options. I guess that is just me though.

Who the fuck said I would buy a limo or would want any part of the limo business?!??

If you are going to butt into a conversation, at least spend the time to know who said what.

Fucktard @Joe is busy busting balls and telling people stupid shit like

Next time if yer buyin a car @Dove y, go for the Cadillac...

And posting pictures of stretch limos and bullshit. Being a fuckin' annoying goof.

And when he said this:

Well, I confess @Dove, the only way I could ever afford a Mercedes luxury car or a top of the line Ford Navigator/GM Escalade is if I became a Limousine Driver again, did 5 trips a day driving VIPs like I used to for $200 a ride for 6 days a week for at least 1 year to pay the thing off after taking out a huge car loan.

I pointed out that somebody his age should have the means to buy a nice vehicle without having to take on a job.

If he wants to go on a "Actually, if you want to get into the limo business...", which is not what I said or gave any indication whatsoever that is what I would want to do, then I might just give the fuckin' retard a conversation about his fuckin' retard ideas. That does not give you an excuse to get sucked into his delusion that I said something I did not fuckin' say.

If you are offended or upset, in some way, by me calling resident fucktard @Joe a fuckin' retard, then come at that directly.

The little weasel fuck is in other threads giving Lokmar passive-aggressive jabs about the stock market bubble in the USA. He goes off on shit all the time trying to irritate people about guns in the USA. "There sure are a lot of killings in the USA by guns, eh Lokmar?"

Fuck him. He deserves it.

The guy is a real life loser and plays a constant passive-aggressive pest. Have I thought that I am being a little mean to him at times? Yeah. I took a step back more than once when I saw the guy breaking down emotionally. But he comes back for more and he instigates it. When he asks for it, sometimes he gets it.

Oh, and if you want to talk about starting a business, any fucking business that only requires a couple hundred thousand dollars, I would suggest that if you are not confident enough to put your own money into it, then you should probably think twice about starting it up. Yeah, incorporating is a good idea if the size of the business justifies it, but the idea that borrowing money is preferred to investing your own money is concerning. I guess that is just me though.

 

[TheHaze]

IF YOU CAN'T PAY CASH - THEN YOU CAN'T AFFORD IT

 

[Oerdin]

Naw, my car loan is at 2.46% so why would I remove money from investments making 20% per year? I am still well head on total financial goals. Time value of money and all that. Now, you do need to take a close look at what you really need vs what you simply want. There is no point pissing away $70,000 on some luxury car which will be worth $15,000 in five years but getting a solid, well built, and reliable car for $25,000 which will still be worth $15,000 in five years makes more sense. Especially if you bargain hard and getthe price reduced by $5000 on the purchase price.

 

[Joe]

Naw, my car loan is at 2.46% so why would I remove money from investments making 20% per year? I am still well head on total financial goals. Time value of money and all that. Now, you do need to take a close look at what you really need vs what you simply want. There is no point pissing away $70,000 on some luxury car which will be worth $15,000 in five years but getting a solid, well built, and reliable car for $25,000 which will still be worth $15,000 in five years makes more sense. Especially if you bargain hard and GRT the price reduced by $5000 on the purchase price.

...and that is along the lines how Transportation companies think, too.
The wanna get the most bang for the buck.

Whether it's a bus or limo company.
Squeeze as much revenue during the life of the vehicle.

It's about ROI or Return on Investment.

Maybe @The Prowler might learn something from your posts.

 

[Oerdin]

Hell, mortgage rates are between 2% and 3% yet promptly prices went up and average of almost 20% last year around here. Put down enough so that the monthly costs are below the rental prices (factoring in taxes, possible vacancy risks when you are between renters or have to evict a deadbeat, repair costs, etc...) and you are still making a prudent financial decision which makes a lot of net worth over time.

There is still a risk there but you are making informed risks on assets which go up in value instead of down over the long term.