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Oct 24, 2019 | 08:52 PM

#21

Philr56

Pro

Joined: Aug 2010

Posts: 590

Likes: 69

From: Kathleen Georgia

I'm not sure. It depends on how things go at the bank. I'm sure I'll feel better once I put on the ski mask.

Oct 24, 2019 | 08:56 PM

#22

MikeyTX

Team Owner

Joined: Sep 2005

Posts: 29,113

Likes: 2,194

From: Big Bend Country, TX

St. Jude Donor '06-'07-'08-'09-'10-'11-'12-'13-'14-'15- '16-'17-‘18-‘19-'20-'21

NCM Lifetime Member

Quote:

Originally Posted by TKay

How are you guys paying for your new c8. Cash, loan, mortgage, send lien on house or what?

Oct 24, 2019 | 08:56 PM

#23

Snowwolfe

Le Mans Master

Joined: Oct 2001

Posts: 8,517

Likes: 928

From: Alaska

I been picking up aluminum cans for a few months. Should cover the costs.

Oct 24, 2019 | 08:57 PM

#24

MikeyTX

Team Owner

Joined: Sep 2005

Posts: 29,113

Likes: 2,194

From: Big Bend Country, TX

St. Jude Donor '06-'07-'08-'09-'10-'11-'12-'13-'14-'15- '16-'17-‘18-‘19-'20-'21

NCM Lifetime Member

Quote:

Originally Posted by MIREDVET

Where do you get a 2% loan?

My CU is at 1.99% for 36 mos as of today.

Oct 24, 2019 | 08:59 PM

#25

1snake

Le Mans Master

Joined: Dec 2007

Posts: 8,000

Likes: 659

From: Puget Sound

Cash. Just like the other 15 Corvettes I've owned. If you can't pay cash, you shouldn't be buying it.

Oct 24, 2019 | 09:06 PM

#26

jcapps

Drifting

Joined: Mar 2006

Posts: 1,578

Likes: 550

From: Florida

Quote:

Originally Posted by 1snake

Cash. Just like the other 15 Corvettes I've owned. If you can't pay cash, you shouldn't be buying it.

I love these posts. If you can get a loan under 3% and still pay cash, you need to take a financial class......lol

Last edited by jcapps; Oct 24, 2019 at 09:06 PM.

Oct 24, 2019 | 09:08 PM

#27

Parcival

Drifting

Joined: Mar 2018

Posts: 1,498

Likes: 406

From: San Francisco Ca

Quote:

Originally Posted by TKay

How are you guys paying for your new c8. Cash, loan, mortgage, send lien on house or what?

Flash Cash

Oct 24, 2019 | 09:18 PM

#28

1snake

Le Mans Master

Joined: Dec 2007

Posts: 8,000

Likes: 659

From: Puget Sound

Quote:

Originally Posted by jcapps

I love these posts. If you can get a loan under 3% and still pay cash, you need to take a financial class......lol

I agree, IF you have ZERO debt, as in your house etc. is paid for. Actually, I did finance my C-5. 0% for 60 months while the funds collected 6% for the term. Most don't have that option and I stand my ground that only a fool finances a depreciating asset.

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Oct 24, 2019 | 09:20 PM

#29

rponfick

Drifting

Joined: Nov 2002

Posts: 1,692

Likes: 208

From: Loveland, CO

Where are you earning 7%?
ralph

Oct 24, 2019 | 09:27 PM

#30

jcapps

Drifting

Joined: Mar 2006

Posts: 1,578

Likes: 550

From: Florida

Quote:

Originally Posted by 1snake

So I must be a fool as I financed a vehicle last month at 2% and my investment, the one I left the money in, is making 6.78%.......I will play this fool every day

Oct 24, 2019 | 09:27 PM

#31

jcapps

Drifting

Joined: Mar 2006

Posts: 1,578

Likes: 550

From: Florida

Quote:

Originally Posted by rponfick

Where are you earning 7%?
ralph

JPS is the symbol

Oct 24, 2019 | 09:28 PM

#32

aastretch64

Instructor

Joined: Aug 2019

Posts: 132

Likes: 72

From: Chicago< IL

Why would anyone pay $80K+ in cash for a depreciating asset?? You would have at least $32K in five years at a conservative 7% return on your investment. Leave that $80K invested for ten years and you double your money...and so on. Meanwhile you are saving maybe $7K in interest on a loan.

Oct 24, 2019 | 09:31 PM

#33

DRM87

Pro

Joined: Oct 2013

Posts: 626

Likes: 451

From: SoCal

I'm going to ask a boomer for a loan and hope they die first before I have to pay it back.

Oct 24, 2019 | 09:34 PM

#34

1snake

Le Mans Master

Joined: Dec 2007

Posts: 8,000

Likes: 659

From: Puget Sound

Quote:

Originally Posted by jcapps

So I must be a fool as I financed a vehicle last month at 2% and my investment, the one I left the money in, is making 6.78%.......I will play this fool every day

Read my post dumb azz, as long as it's your ONLY debt, that's fine. Just don't justify it if you're paying 6% on your mortgage and 15% on your credit cards. If so, you're the one that needs to take a financial class.

Oct 24, 2019 | 09:38 PM

#35

1snake

Le Mans Master

Joined: Dec 2007

Posts: 8,000

Likes: 659

From: Puget Sound

Quote:

Originally Posted by rponfick

Where are you earning 7%?
ralph

Nobody is, except the keyboard experts with no money..

Oct 24, 2019 | 09:42 PM

#36

1snake

Le Mans Master

Joined: Dec 2007

Posts: 8,000

Likes: 659

From: Puget Sound

Quote:

Originally Posted by aastretch64

7%?

Another financial expert with no money. Don't forget you're paying, at least for some of us, 30+% income tax on your investment.

Oct 24, 2019 | 10:04 PM

#37

Poorhousenext

Melting Slicks

Joined: Nov 2007

Posts: 2,162

Likes: 649

From: Chattanooga TN

Quote:

Originally Posted by aastretch64

Well, 5 years ago I got tired of supporting others, so I cut my income to point I don't have to pay income taxes. Still save money each month.

Had 8 wives. Never lost my house in their divorce(s). When they left me, they all went back to their Husbands, he lost his.