ICG inca minerals limited

Flyboy. " Now that the $76k on vehicles might be unrelated but...

  1. 8,518 Posts.
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    Flyboy.

    " Now that the $76k on vehicles might be unrelated but still a big $$$ item. Why are they buying rather than leasing?"

    My understanding is that they bought the best they felt they could afford second hand.
    I very much doubt that RB had much to do with that decision as it does not have the hallmarks of a big spender.
    They cannot be expected to walk around carrying cores in the Mt Isa heat, especially all they way back to town.

    Also, my understanding is that they had been paying high rates to another party for the use of their vehicle, and felt it would be money saving to buy their own cheap vehicles. I agree.

    Leasing, when compared with buying well maintained second hand, is a massive waste of money.

    For some reason, which I find crazy, people seem to think that you don't pay depreciation and interest when leasing.
    Yeah!! Good luck with that!

    Lockitt
    Last edited by lockitt: 30/01/23
 
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