kozmic

I’ll be turning tricks on Tuesdays... 10% discount to any CF’ers around Houston area / no travel charge.






For real though... not sure why it’s anyone’s else’s business how folks are paying for their vehicle...

Skid Row Joe

Cash, is how I've always paid for new Corvettes. They're not all that expensive.

bartruff1

That is actually a very good idea....I pay cash because I have no debt and don't want any....but if you have a excellent credit rating you can get a new car loan for something like 3% and there are any number of investments that pay 7% or more in dividends or even interest...obviously you have to have the discipline to stick to that plan and be careful not to get underwater on the car or have to sell it quickly at a discount.....

There are others that can make it work with a lease buy program but you have to read the fine print...

NASTYC7

Trust fund Baby here...

Skid Row Joe

Hindsight is 20/20. Anytime debt is deployed, your risk is off the charts.

Ask jcapps about Mandrake sometime. Mandrake ran his business on borrowed money until it ALL came crashing down on him. He lost his home, wife and <almost> everything he had. He got his a__ handed to him because he was so debt savvy...

Phil1098

No risk really, as we have the money, it's invested. If something went sideways and I needed to dump the car, I can always take the money out and at that point it's no different than paying cash. A lot of folks get wrapped up about having a loan, but if you are making more than you are paying, you are coming out ahead. Once the money is spent, it will never make another dime.

Skid Row Joe

There are NO "guaranteed 7%," investments. You're dreaming.

There are NO "guaranteed 6.78% investments."

​​​ ​

Phil1098

I keep making it, year in and year out, I guess my balance is a dream too?

I know exactly to the penny how much you make on the money you use when you pay cash, zero, guaranteed.

Skid Row Joe

Yup.....you're dreaming it's guaranteed. Boy are you in LA LA land......lol

Phil1098

You're always laughing about everything like you are so much smarter than everyone else. You can shove your condescending BS. Why don't go get another hand out from mom and dad like the rest of your life.

BTW, this thread was how are you paying for your C8, are you buying one now or just trolling and stirring up **** as always?

Skid Row Joe

Reading your fantasy **** on investments?? LOL! Yeah, I think I am much smarter than you!!

robertbruce

Since we had plenty of grass all summer I should be OK.

Supersonic 427

Well I have had 39 Corvettes since the age of 18 and I was only able to pay cash for 3 of them! I guess I shouldn't have bought the other 36! Call me a "fool" # 40 will be financed too!
Personally, I think it is more foolish to pay cash for a depreciating asset than to make payments on one! Either way, we all lose money on them! Life is short if you want something and you can afford to make the payments... do it!

ext

If you're going to buy the depreciating asset anyway, why not maximize the situation by doing what was suggested, borrow at 2% while your cash earns 7%

2turbocobra

I’ll put 10k down and finance the rest. I could pay cash but don’t want to tie it up. It will cost me a little over a grand a year in interest to keep my 70k in my pocket.

C8Jake

jcapps

I see why you pay cash now. I named just one of my investments that pays 6.78%, You can research the historical return of it. I have investments that pay more. But you still are claiming that no one "makes" that kind of return. To top that off, you call people who state why they use the banks money as dumb asses. It has been explained to you repeatedly, by a number of posters, yet, you still hold true to the position of losing money that you see as successful.
You should take your 100k nest egg out of your Chase Money Market and pay for your vette. I mean, what are you earning .001%

Telepierre

Bitcoin...

OK... just joking... :-)

Bill17601

I’d like to see people carrying a briefcase full to the dealer. Maybe a huge bad full of cash. I’m sure whatever the source of the cash is they need to give them some time to gather it up. The dealer has to get someone to count the cash. More than once I would think.
Probably would be a great video for You Tube.

Phil1098

OK, I'm going to go really slow since my left nut has a higher IQ than you.

Phils way:
1. I have the money to buy the car.
2. It is currently invested and making almost 7% annually in an investment that has turned in this performance for years.
3. I have a credit score that allows me the best interest rates available, so I can borrow new car loans at roughly 2%.
4. If I leave my money in the investment making 7% and I'm paying 2%, I net out at making 5%.
5. If the market goes south and the investment makes 4%, I'm still 2% to the good.
6. If it goes to 2% I'm flush and am getting the money for free.
7. If it quit paying any dividend, I can pull the money out and pay off the loan and be no worse off than paying cash in the first place.

Joes way:
1. Pay cash and completely lose any potential gain. Odds of making one penny on the initial cash 0.
2. Since everything in life has been handed to Joe, he goes back to the well and gets handed more.

Yeah, you are indeed a LOT smarter than me.........in your mind, the schizophrenic one.

Just so you feel more at home: LOL, LOL,