Finance Question
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Joined: Jan 2010
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From: Sneads Ferry NC
Finance Question
If you have to finance a Corvette then you can not afford it, because if you could afford it then you would pay cash for it.
Who agrees?
If you don't agree, why?
Does this make sense?
P.S. I'm ONLY talking about a Corvette here, so please don't read into it.
Who agrees?
If you don't agree, why?
Does this make sense?
P.S. I'm ONLY talking about a Corvette here, so please don't read into it.
Drifting
Joined: Apr 2006
Posts: 1,257
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From: Bluffton,SC
Race Director
Joined: May 2006
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From: SOFLA
2016 Corvette of Year
2015 C6 of Year Finalist
If you can finance for 0% and invest your cash for a 10% return why on earth would you pay cash?????
If you can finance for 4.9% at a credit union and invest your cash for a 10% return; again why on earth would you pay cash???
If you can use someone elses money for free or cheap, then you would be an idiot not to.
But with the other theory I can't afford a vette so I should go return it today....
If you can finance for 4.9% at a credit union and invest your cash for a 10% return; again why on earth would you pay cash???
If you can use someone elses money for free or cheap, then you would be an idiot not to.
But with the other theory I can't afford a vette so I should go return it today....
Team Owner
Joined: Nov 2007
Posts: 45,273
Likes: 8,545
From: Rochester, NY
If you can finance for 0% and invest your cash for a 10% return why on earth would you pay cash?????
If you can finance for 4.9% at a credit union and invest your cash for a 10% return; again why on earth would you pay cash???
If you can use someone elses money for free or cheap, then you would be an idiot not to.
But with the other theory I can't afford a vette so I should go return it today....
If you can finance for 4.9% at a credit union and invest your cash for a 10% return; again why on earth would you pay cash???
If you can use someone elses money for free or cheap, then you would be an idiot not to.
But with the other theory I can't afford a vette so I should go return it today....
And this past year was certainly an easy one to make significantly more than 10% and your thought process is right on.
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Burning Brakes
Joined: Aug 2009
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From: Camdenton Missouri
Race Director
Joined: May 2006
Posts: 12,973
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From: SOFLA
2016 Corvette of Year
2015 C6 of Year Finalist
Burning Brakes
Joined: Sep 2009
Posts: 762
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From: Central Florida Sunshine State
If you can finance for 0% and invest your cash for a 10% return why on earth would you pay cash?????
If you can finance for 4.9% at a credit union and invest your cash for a 10% return; again why on earth would you pay cash???
If you can use someone elses money for free or cheap, then you would be an idiot not to.
But with the other theory I can't afford a vette so I should go return it today....
If you can finance for 4.9% at a credit union and invest your cash for a 10% return; again why on earth would you pay cash???
If you can use someone elses money for free or cheap, then you would be an idiot not to.
But with the other theory I can't afford a vette so I should go return it today....
- 10% returns went the way of Bernie Madoff
It all depends on your financial situation.
Melting Slicks
Joined: Sep 2008
Posts: 2,286
Likes: 4
I financed mine, as my ex-wife certainly made sure that I couldn't pay cash. The payback was that as soon as the child support ended (which never went where it should have), I bought my baby with the absolute agreement of my current and wonderful bride of 9 years. I directly take care of my daughter now, instead of handing it over to her witch of a mother.
A win, win for both of us (me and my daughter).
Thank you for allowing me to vent.
A win, win for both of us (me and my daughter).
Thank you for allowing me to vent.
Last edited by Justasheet; Jan 27, 2010 at 08:40 AM.
Melting Slicks
Joined: Sep 2008
Posts: 2,286
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Burning Brakes
Joined: Aug 2008
Posts: 1,100
Likes: 277
How can you possibly presume that you are cognizant of everyone's financial circumstance and personal financial decisions? Peace, out.
Le Mans Master
Joined: Aug 1999
Posts: 5,411
Likes: 2
From: N Carolina 08 Z51 Coupe
I did pay cash for my vette.. could have done the same with my other car but chose to finance it for the above reason.
Race Director
Joined: May 2006
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From: SOFLA
2016 Corvette of Year
2015 C6 of Year Finalist
Race Director
Joined: May 2006
Posts: 12,973
Likes: 1,020
From: SOFLA
2016 Corvette of Year
2015 C6 of Year Finalist
Pro
Joined: Feb 2009
Posts: 510
Likes: 0
From: Cottage Grove MN
If you have the ability to save lets just say $1000 per month for 48 months to pay cash for a vette at the end of the 48 months - why not buy the car now (pay $1000 in car payments) and enjoy it for those four years? Sure you pay some interest on it and lose some from interest that could have been gained, but I just look at that as a small price to pay for four years of enjoyment.
Who knows, you could save all that money and die at 47 months (not to be morbid) - I would rather enjoy the things I can while I can - you never know what could happen.
Who knows, you could save all that money and die at 47 months (not to be morbid) - I would rather enjoy the things I can while I can - you never know what could happen.
Last edited by ArcticLS3; Jan 27, 2010 at 09:18 AM.
