Rent a Van or Buy?

Renting a van for a year will not benefit this missionary at all. He'd be much better off to buy a used van.

QUESTION: A listener asks if he should rent a van for $350 a month or buy a used van for a year.  He’s a missionary and only needs the transportation for a year.  Are there any other options?

ANSWER: You should not rent the van.  After a year of renting that comes to $4,000.  You’re better off to buy a van for $4,000 and after one year it will still be worth $4,000 when you want to sell it.

Better yet, you can have one of your supporters buy the van for you, knowing that they can sell it at the end of the year, and get all - if not more - of their money out of it. 

Anything is going to be better than renting for $350 a month.  There’s a much better way to use your money during this time.

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