Justifying a depreciating asset?
11-23-2015, 09:25 PM
#41
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St. Jude Donor '06-'07-'08-'09-'10-'11-'12-'13-'14-'15- '16-'17-‘18-‘19-'20-'21
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Just trying to get a sense of how you guys are financing these vehicles. Allot of people on this site are proud to chime in say with CASH others are financing at a very low rate and others with some combination of both.
The part I really struggle with is the fast depreciating asset from the day it rolls off the lot whether is all CASH, financed or some combination of both.
I'm considering a cash purchase of a rental property and using the rental income to finance a 5 year note.
I'm looking to poke some holes in this plan to see if it continues to make sense.
Any thoughts?
Mike
The part I really struggle with is the fast depreciating asset from the day it rolls off the lot whether is all CASH, financed or some combination of both.
I'm considering a cash purchase of a rental property and using the rental income to finance a 5 year note.
I'm looking to poke some holes in this plan to see if it continues to make sense.
Any thoughts?
Mike
Damn dude. First post since you joined back in 2013 ? 
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396tears (11-24-2015)
11-23-2015, 09:32 PM
#42
Melting Slicks
I look at my vette as I do going out to dinner. I spend a boatload of money and in the end, have nothing to show for it, but it beats sitting home and eating peanut butter and jelly sandwiches every day. 
11-23-2015, 10:06 PM
#44
Team Owner
I think you're overthinking this whole thing to the point of why bother! Who cares about depreciation of the Vette etc etc.It's FUN,and that you can not put a price on! If you want to justify the purchse,then maybe you should buy a bicycle.Or lease the car and just pay the depreciation in the lease payment and give it back in 3 years.
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lancekl (11-26-2015)
11-23-2015, 10:12 PM
#45
11-23-2015, 10:16 PM
#46
Safety Car
I think you're overthinking this whole thing to the point of why bother! Who cares about depreciation of the Vette etc etc.It's FUN,and that you can not put a price on! If you want to justify the purchse,then maybe you should buy a bicycle.Or lease the car and just pay the depreciation in the lease payment and give it back in 3 years.
When your dead who cares about depreciation.You only live once.
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WTFvette (11-29-2015)
11-23-2015, 10:24 PM
#47
Agreed....where can you get "super car" performance at this price especially if you hunt for a used 2014/2015. I found a 2014 with 2400 miles and saved some bucks.
thanks!
thanks!
Last edited by stig.i.am; 11-23-2015 at 10:25 PM.
11-23-2015, 10:55 PM
#48
11-24-2015, 04:05 AM
#49
Le Mans Master
Debt sucks. It's what makes the banks rich and America broke.
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nmvettec7 (11-24-2015)
11-24-2015, 05:13 AM
#50
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11-24-2015, 06:13 AM
#51
Le Mans Master
As others have said, you're over thinking this. A vette ( or any fun car) is a toy. That's it. Yes you can drive it every day as your DD, which many of us do, but you buy it to have fun with as well as serve a practical purpose if it's your DD. What a win/win. Don't waste one more second obsessing over rationalizing it. Just buy it and have fun. There are plenty of pain in the *** stuff we all have to deal with on a daily basis. Don't let your vette fun be one of them.
Last edited by musclecar6; 11-24-2015 at 06:18 AM.
11-24-2015, 07:03 AM
#52
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St. Jude Donor '06-'07-'08-'09-'10-'11-'12-'13-'14-'15- '16-'17-‘18-‘19-'20-'21
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11-24-2015, 07:07 AM
#53
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St. Jude Donor '06-'07-'08-'09-'10-'11-'12-'13-'14-'15- '16-'17-‘18-‘19-'20-'21
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Mr. Stingray (11-24-2015)
11-24-2015, 07:20 AM
#54
Well, at least we got the great picture from Meandean43 out of all this!!!
11-24-2015, 08:59 AM
#55
Burning Brakes
Some folks are into fancy clothes, big houses and Starbucks coffee every day. Others spend tons of money on hunting or fishing equipment or trips. Everyone has their hobbies and past times to spend money on ... cars is just another one of them. Almost every thing fun in life costs money .. it doesn't make money.
11-24-2015, 09:58 AM
#56
Some folks are into fancy clothes, big houses and Starbucks coffee every day. Others spend tons of money on hunting or fishing equipment or trips. Everyone has their hobbies and past times to spend money on ... cars is just another one of them. Almost every thing fun in life costs money .. it doesn't make money.
11-24-2015, 10:21 AM
#57
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St. Jude Donor '06-'07-'08-'09-'10-'11-'12-'13-'14-'15- '16-'17-‘18-‘19-'20-'21
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11-24-2015, 10:32 AM
#58
Burning Brakes
Let's look at the pros and cons:
C7 - pros - fun, fun fun cons - depreciating asset, maybe $5k/year for a few years then flattens out
Ex wife - pros - emphasis on ex cons - expensive, no fun, the payments last way longer than a car payment and cost way more
Answer looks pretty simple to me. Find a good wife and keep her. Buy a C7 and keep it.
C7 - pros - fun, fun fun cons - depreciating asset, maybe $5k/year for a few years then flattens out
Ex wife - pros - emphasis on ex cons - expensive, no fun, the payments last way longer than a car payment and cost way more
Answer looks pretty simple to me. Find a good wife and keep her. Buy a C7 and keep it.
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owc6 (11-24-2015)
11-24-2015, 03:14 PM
#59
Race Director
But that doesn't matter because the value up here has stayed rock steady, and people aren't trying to sell their Canadian cars to people in the US. I've been waiting patiently for prices to drop but they simply haven't! The low allocation on new ones is to blame. Eventually things will catch up though and demand for new ones will drop, and then the used ones will come down to earth, then I'll finally trade in my C6. Lucky for me the price of my C6 hasn't dropped very much at all in the 2 1/2 years I've owned it (bought it for $27,000 and could sell it for $25,000 right now very easily)
