Financing a used exotic

student13 said:
Hi Silver Viper, that could be true that your cash could be tied up elsewhere. But if you are making capital gains/return on investment >1500 a month (the min to buy a used porsche) a month to justify that sort of move an you don't have at least 100K in savings, I would see that as highly unusual .

EDIT: Edited to add the words "a month" and adjust sentence to say "return on investment" .
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Oh boy lol, you are comparing the gains/return on investment to the whole car payment which makes absolutely no sens lol. You have to compare the gains/return on investment (lets say 10% of whatever you have invested) to the actual interest rate that the financing is costing you, which in this case is 6.X%.

Is it really unlikely to have bigger returns than what the 6% on that car is costing you? Not at all...

And that’s only one factor, the second factor is the fact that while you are paying your 1500$ a month for your exotic, you have 150 000$ of «*cold hard cash*» that you can invest elsewhere because you didn’t burn it one shot on a depreciating asset.

But yeah that explains why you only pay «*cold hard cash*» lol
 
*VR6* said:
Oh boy lol, you are comparing the gains/return on investment to the whole car payment which makes absolutely no sens lol. You have to compare the gains/return on investment (lets say 10% of whatever you have invested) to the actual interest rate that the financing is costing you, which in this case is 6.X%.

Is it really unlikely to have bigger returns than what the 6% on that car is costing you? Not at all...

And that’s only one factor, the second factor is the fact that while you are paying your 1500$ a month for your exotic, you have 150 000$ of «*cold hard cash*» that you can invest elsewhere because you didn’t burn it one shot on a depreciating asset.

But yeah that explains why you only pay «*cold hard cash*» lol
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Je sais même pas pk tu lui explique, y va arriver avec un autre argument complètement pas rapport juste pour continuer à sastiner qui paye cold hard cash ces corolla a 2000$.

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Money does not equal happiness.

My foot on the right pedal, revving the V8 7000k rpm, that equals happiness.

Therefore, it is not always financially logical to have a sports car. But boy is it fun!

Envoyé de mon Pixel XL en utilisant Tapatalk
 
SRT-What? said:
such as in a camera, a high speed internet, and a youtube account to post a video of a Performante revving to 7k in 3 gear on a mexican highway.
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You want me to cross the Mexican border with this?


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Nadim 323Ci said:
So I got approved for a loan for the car in question for 72 months but the rate is 6.99% which I'm not happy about. Still trying to get better. Not in a hurry...
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If you own a home, why not get a line of credit? Not a regular line of credit, but one where your home is put as collateral & they give you 80% of it’s current value. I’m familiar with RBC & they call it a homeline plan, I was fortunate to get it when it was introduced with prime which is currently 2.95% 😁
 
Indeed a homeowner line of credit is the best thing going. If your home has equity, leverage it!
 
crazy1eye said:
If you own a home, why not get a line of credit? Not a regular line of credit, but one where your home is put as collateral & they give you 80% of it’s current value. I’m familiar with RBC & they call it a homeline plan, I was fortunate to get it when it was introduced with prime which is currently 2.95% ��
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Isn't a home line of credit usually 80% of the capital you have paid and not on the value of the house itself?
 
*VR6* said:
Isn't a home line of credit usually 80% of the capital you have paid and not on the value of the house itself?
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No value of the house.

For example, my house has gained value because of time and mostly upgraded I have done. I can get 80% of the new appraised value.

Sent from my Pixel 2 XL using Tapatalk
 
crazy1eye said:
If you own a home, why not get a line of credit? Not a regular line of credit, but one where your home is put as collateral & they give you 80% of it’s current value. I’m familiar with RBC & they call it a homeline plan, I was fortunate to get it when it was introduced with prime which is currently 2.95%
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I actually do have a HELOC with RBC at prime + 0.25, so 3.20%, but I'm using it for investments at the moment. I have a couple other LOCs at 4.99 and around 6% which I'm keeping in case of emergency since the rates are not that great.
 
Ça a pas de sens le 0-200... J'ai une marge de credit étudiante à 3.2% de 20 000$. Mais je peux pas m'en servir comme levier pour des placements. Pour acheter n'importe quel char par exemple, pas de trouble. Criss de système bancaire de marde.
 
JuTheGreat said:
Ça a pas de sens le 0-200... J'ai une marge de credit étudiante à 3.2% de 20 000$. Mais je peux pas m'en servir comme levier pour des placements. Pour acheter n'importe quel char par exemple, pas de trouble. Criss de système bancaire de marde.
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Une marge etudiante... c'est clairement pas fait pour acheter n'importe quoi lol
 
Nice le 0-275! ça rentre au poste. ça sonne bien aussi

ggti said:
Une marge etudiante... c'est clairement pas fait pour acheter n'importe quoi lol
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En théorie c'est pour les "frais de subsistance" mais en réalité, c'est pour n'importe quoi
 
Look I don't want to engage in trolling with all the ti-coun (s) here, making comment about my "Toyota Corolla", or my username.

Anyhow, anyone that I have ever known that has bought a luxury car has:
-basically wrote a cheque , or
-leased usually 48 months, (because they don't want the cost of maintenance of a depreciating item).

Some here will say that a luxury car increases in value :
-That is only if you have a very very rare breed of car IE Ferrari 250 GT.
-The high likelihood is that if you are buy a used Lambo, etc. etc. and financing over 84 months its because you got a deal, on a depreciating item.

All of my friends have put straight cash down for lux cars. The guy below saved up cash and was able to negotiate with the dealership.

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This guy paid cash for the new rover.

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And as for my "toyota" yes cash for that too.
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