I don’t really know how to reply to that/won’t discuss my personal finances so I’ll just make some general statements
I am actively tagged to 4 leases
One is my wife’s
3 of the others are split between my father in law and I since we decided to do our “car share.”
I wanted to reduce some payments before going through the process of buying a new home. It just felt better and cleaner to me.
I learned a few things along the way related to DTI and also related to how various captives handle leases which are noted above (some clear and others don’t)
My wife has worked as an NP or Nurse for 6-7 years. 5-6 months ago, she went per diem. Per diem income, at least in my case, was not included in the I part of the DTI. I wasn’t going to fight it because we got the commitment without it. But, I found this interesting.
Then, for the self employment income (all of the car stuff), I have had one full year of income submitted to the feds (the business started at the tail end of 2018). In order for it to be counted as I in the DTI equation, you need to have 2 full years.
I’m in the same where I have all my cars & mortgage under my name & I’m barely touching 25% without spouse’s income. Just don’t like going that far out on the DTI ratio.
Sounds like the usual advice given here for a car lease!. Hopefully I am wrong, but I have a feeling that this may not be the best way to go on leases in the somewhat foreseeable future. It doesn’t seem likely we can continue to have nearly free money forever.
I fondly remember shouting the same thing at Alan Greenspan through the TV, circa 2002.
I’m doing a lot of reading and listening on MMT. I’m not sold on it but it’s interesting to imagine the world functioning counter-rationally, forever. I feel like someone typed in a cheat code…
. Hopefully I am wrong, but I have a feeling that this may not be the best way to go on leases in the somewhat foreseeable future. It doesn’t seem likely we can continue to have nearly free money forever.
