Paying
Burning Brakes
Joined: Jan 2013
Posts: 1,147
Likes: 609
From: Houston TX
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...
For real though... not sure why it’s anyone’s else’s business how folks are paying for their vehicle...
Last edited by kozmic; Oct 24, 2019 at 10:50 PM.
Pro
Joined: Feb 2010
Posts: 622
Likes: 511
There are others that can make it work with a lease buy program but you have to read the fine print...
Team Owner
Joined: Sep 2010
Posts: 32,247
Likes: 4,624
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...
Race Director
Joined: Aug 2019
Posts: 12,351
Likes: 14,185
From: Central Illinois
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...
Team Owner
Joined: Sep 2010
Posts: 32,247
Likes: 4,624
Race Director
Joined: Aug 2019
Posts: 12,351
Likes: 14,185
From: Central Illinois
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Team Owner
Joined: Sep 2010
Posts: 32,247
Likes: 4,624
Race Director
Joined: Aug 2019
Posts: 12,351
Likes: 14,185
From: Central Illinois
BTW, this thread was how are you paying for your C8, are you buying one now or just trolling and stirring up **** as always?
Last edited by Phil1098; Oct 25, 2019 at 12:04 AM.
Team Owner
Joined: Sep 2010
Posts: 32,247
Likes: 4,624
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?
BTW, this thread was how are you paying for your C8, are you buying one now or just trolling and stirring up **** as always?
Le Mans Master
Joined: Nov 2002
Posts: 5,832
Likes: 1,682
From: Rochester New York
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!
Last edited by Supersonic 427; Oct 25, 2019 at 01:26 AM.
Burning Brakes
Joined: Aug 2019
Posts: 780
Likes: 395
From: N Cent FL
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%
Drifting
Joined: Mar 2006
Posts: 1,578
Likes: 550
From: Florida
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%
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%
AIR FORCE VETERAN
Joined: Nov 2009
Posts: 6,223
Likes: 441
From: Pennsylvania
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.
Probably would be a great video for You Tube.
Race Director
Joined: Aug 2019
Posts: 12,351
Likes: 14,185
From: Central Illinois
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,