Tip o’ the Morning to Ya – Leasing a Car is a Poverty Habit

tip-o-the-morning

Rich Habits Word of the Day

Ethos – Customs or beliefs. One of the ethos of wealthy people is purchasing, rather than leasing an automobile.

Rich Habits Fact of the Day

The most important number — whether you buy or lease — is the purchase price. Unfortunately, this number is seldom, if ever, discussed in a lease and is buried in the leasing documents, which you will probably only get to see minutes before you sign. Leasing agreement include something called a “Disposition Fee”. You don’t pay a disposition fee when you purchase a car. Residual value and net capitalized costs are variables that affect your monthly lease payment amount and are difficult to understand. You don’t have residual value or capitalized cost variables when you purchase a car. Each lease allows you to drive a certain number of miles each year without incurring any additional costs. Oftentimes this is either 15,000 miles. If you exceed 15.000 miles you will have to pay an additional cost calculated on a per mile basis. There are so many variables in a lease for a good reason. Each variable is engineered in favor of the car dealer and not the one leasing the vehicle.

Rich Habits Lesson of the Day

6% of the wealthy lease cars. Conversely,45% of poor people lease cars. Leasing a car is a Poverty Habit. Wealthy people don’t lease cars. They purchase their cars and will drive them as long as the engine holds out. 44% of the wealthy purchased a used cars in the last five years. Wealthy people purchase and take good care of their cars. Purchasing a new or used car and owning it for the long term is much cheaper than leasing a new car every three years. The savings can be as much as $2,000 a year. If you want to walk in the footsteps of the wealthy begin by purchasing your cars.

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Thomas C. Corley About Thomas C. Corley

Tom Corley understands the difference between being rich and poor: at age nine, his family went from being multi-millionaires to broke in just one night, due to a catastrophic fire that destroyed his Dad's thriving business. For fourteen years they struggled with poverty. There were eleven in Tom's family, and they lived in constant fear of losing their home.

Driven by the desire to unlock the secrets to success and failure, Tom spent five years studying the daily activities of 233 rich people and 128 poor people. He discovered there was an immense difference between the habits of the rich and the poor. During his research he identified over 300 daily activities that separated the “haves” from the “have nots.” Tom decided to write a book to share what he learned. That book, Rich Habits: The Daily Success Habits of Wealthy Individuals (1st Edition), went on to become an Amazon Bestseller in the United States forty times over a three year period. To give you some perspective, in order to be a true Amazon Bestseller in the United States, where you actually receive a specific Bestseller designation from Amazon, you need to be in the top 100 of all books sold by Amazon in the United States in a given day. Rich Habits did that for nearly thirty straight days, rising as high as #7, eclipsing such Bestselling authors such as Stephen Covey, Robert Kiyosaki and J.K. Rowlings. Imagine that - an unknown, first-time, self-published author selling more books than J.K. Rowlings!

Tom now travels the world, sharing his Rich Habits and motivating audiences at industry conferences, corporate events, universities, multi-level marketing group events, and global sales organizations’ presentations and finance conferences. He has even spoken on the same stage with famous entrepreneurs and personal development experts, such as Sir Richard Branson, Robin Sharma, Dr. Daniel Amen, and many others.

Tom has shared his insights on various national and international network, cable, and Internet television programs such as CBS Evening News, NBC News, Yahoo Financially Fit, Money.com, India TV, News.com Australia, and a host of others. He has been interviewed on many prestigious nationally syndicated radio shows, including the Dave Ramsey Show, Marketplace Money, and WABC.

Tom has been featured in numerous print magazines—such as Money magazine, Inc. Magazine, SUCCESS Magazine, Entrepreneur magazine, Fast Company magazine, More magazine, Epoca Magazine (Brazil’s largest weekly) and Kiplinger’s Personal Finance magazine—and various online publications, including USA Today, CNN, MSN Money, SUCCESS.com, Inc.com, and the Huffington Post. Tom is a frequent contributor to Business Insider, Credit.com, Bankrate.com and a few other media outlets.

National publicity has garnered international media attention for Tom and his Rich Habits research spanning 23 countries. Broadcast media, online publications, and television throughout Asia, the South Pacific, Europe, the United Kingdom, and Central and South America have shared his powerful message.

In an effort to help parents, grandparents, teachers and adults become success mentors to the younger generation, Tom released his second book, Rich Kids: How to Raise Our Children to be Happy and Successful in Life in 2014. This book was the self-help category winner of the 2015 New York Book Festival and Runner-up in the prestigious 2015 Writer’s Digest Self-Published Book Awards Contest. In 2016 Tom released his third book, Change Your Habits, Change Your Life. This book provides the latest science on habit change as well as more of Tom's unique research on the specific habits that helped transform 177 ordinary individuals into self-made millionaires.

Besides being an author, Tom is also a CPA, CFP, and hold a master’s degree in taxation. As president of Cerefice and Company, CPAs, Tom heads one of the premier financial firms in New Jersey.
 
Phone Number: 732-382-3800 Ext. 103.
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