You guys are paying cash for Corvettes
10-19-2016, 04:47 PM
#1
Drifting
Thread Starter
You guys are paying cash for Corvettes
http://www.cheatsheet.com/money-care...e-cost.html/7/
According to the article more people pay cash for Corvettes than other performance cars.
According to the article more people pay cash for Corvettes than other performance cars.
Popular Reply
10-19-2016, 05:01 PM
Race Director
Member Since: Jun 2005
Location: Phila Suburbs 2023 C8 & 2013 650ix
Posts: 10,426
Received 2,225 Likes
on
1,141 Posts
At current interest rates (below 2%), only people who have more money than they know what to do with should pay cash. It has nothing to do with being able to afford the car. It's about financial smarts.
10-19-2016, 04:58 PM
#3
Melting Slicks
Yes,
many people are surprised when I tell them it's paid for yet they spend so much money on frivolous things. If you focus on one main thing, and not a bunch of junk, it's possible.
many people are surprised when I tell them it's paid for yet they spend so much money on frivolous things. If you focus on one main thing, and not a bunch of junk, it's possible.
The following 3 users liked this post by ssidekickbp:
10-19-2016, 05:01 PM
#4
Race Director
Member Since: Jun 2005
Location: Phila Suburbs 2023 C8 & 2013 650ix
Posts: 10,426
Received 2,225 Likes
on
1,141 Posts
At current interest rates (below 2%), only people who have more money than they know what to do with should pay cash. It has nothing to do with being able to afford the car. It's about financial smarts.
The following 18 users liked this post by Walt White Coupe:
23/C8Z (10-23-2016),
bluevette67 (11-23-2016),
BRussell (10-20-2016),
Corgidog1 (10-21-2016),
entrenched (10-19-2016),
and 13 others liked this post.
10-19-2016, 05:05 PM
#5
Safety Car
Wow, that's a lot of unmarked $20s 
Last edited by JonMN; 10-19-2016 at 05:05 PM.
10-19-2016, 05:08 PM
#6
Le Mans Master
Cash, unless I can borrow money for less than I am earning on it.
Though I usually get tired of messing with payments, and pay it off early anyway.
Though I usually get tired of messing with payments, and pay it off early anyway.
The following 3 users liked this post by TEXHAWK0:
10-19-2016, 05:11 PM
#7
Instructor
I could pay cash but my personal opinion is why tie my money up in a depreciating asset. I dont keep cars that long anyway. I prefer to use cash for other things that at least have a chance of appreciating in value.
I think it is one of those "to each his own" topics though.
I think it is one of those "to each his own" topics though.
10-19-2016, 05:15 PM
#8
The Consigliere
Member Since: May 2006
Location: 2023 Z06 & 2010 ZR1
Posts: 22,247
Received 5,444 Likes
on
2,270 Posts
I predict this thread will become both hilarious and ridiculous.
The following 5 users liked this post by OnPoint:
FLATJ (11-22-2016),
pdiddy972 (10-24-2016),
racedrvr (10-28-2016),
Seekinganswers (12-02-2016),
zdeckich (12-07-2016)
10-19-2016, 05:17 PM
#9
Melting Slicks
When cash cost under 2% net and safe investing can be done for 4%+, take the loan and invest the cash. I have a equity line that looks like a 2nd so at 1.99% minus deductible interest it makes better sense to put $75K to work and use the equity line to finance the car. As long as the investment grows at something north of 1.99% minus deductible interest it is cost neutral, even accretive.
The following 5 users liked this post by cvp33:
entrenched (10-19-2016),
Foosh (10-19-2016),
Monkey D. Luffy (10-20-2016),
StingerBG (12-07-2016),
Walt White Coupe (10-19-2016)
10-19-2016, 05:18 PM
#10
Racer
"To each his own" is how I view it too. Generally finance our cars with credit union (terrific) rates, and accelerate/ pay off in roughly two years. Only once in my life did I make the mistake of choosing a long term (60 months) and drove a boatload of miles. Ended up way upside-down, learned, and never repeated.
The following 2 users liked this post by vbdenny:
KJ Z06 (11-22-2016),
ssidekickbp (10-19-2016)
The following 4 users liked this post by VETJAZZ:
10-19-2016, 06:06 PM
#13
Le Mans Master
Cash makes no enemies.
The following 2 users liked this post by Virtual Geezer:
AdventurePoser (10-19-2016),
vbdenny (10-19-2016)
10-19-2016, 06:09 PM
#14
Safety Car
Member Since: Feb 2016
Location: Bainbridge Island WA
Posts: 4,980
Received 3,818 Likes
on
1,614 Posts
The following 2 users liked this post by mschuyler:
AdventurePoser (10-19-2016),
Tulsaeasyrider (10-20-2016)
10-19-2016, 06:32 PM
#18
Drifting
Toys, I've always paid cash...my C7, my bike, and vacations. I never believed in financing toys-if I didn't have the cash, I waited until I had the money. Thanks Mom and Dad for the solid mid western upbringing! LOL
My 2013 Outback, not a toy, I financed about a third of it at .... wait for it...
.75 APR. I figured at that rate, I'd rather use their money than mine.
My 2013 Outback, not a toy, I financed about a third of it at .... wait for it...
.75 APR. I figured at that rate, I'd rather use their money than mine.
The following 2 users liked this post by AdventurePoser:
C7DriverOnt (10-20-2016),
chas70 (10-21-2016)
10-19-2016, 06:33 PM
#19
Drifting
10-19-2016, 06:44 PM
#20
Drifting
I am probably going to pay cash for a 2017 Corvette -- even if interest rates are low. I don't want to have a payment on anything besides my new house (mortgage) that is almost completed.
Not having any debt at all (until I move into my new house next month) helps a lot, of course. My other two vehicles are paid off and my child support payments ended in August. I try to live within my means and I don't buy expensive clothing, dine at costly restaurants or take huge vacations.
Priorities, folks.
Booyah!!
P.S. It all depends upon my final settlement on my old house, which is supposed to be sold on November 11th.
Last edited by JK 23112; 10-19-2016 at 06:47 PM.