Who did this?
11-16-2018, 08:07 PM
#3
Race Director
Paul
11-16-2018, 08:23 PM
#4
Le Mans Master
11-16-2018, 09:41 PM
#6
I would not trade an appreciating asset for a depreciating asset. That was a bad call.
11-16-2018, 11:34 PM
#7
Le Mans Master
11-17-2018, 11:36 AM
#11
Le Mans Master
people do these things all the time. There are many on the forum that finance these z06’s —- with 10 percent down some are totin’ a note for 70 maybe 80k. What would be the huge difference from that thought perspective of financing a demon versus z06? The demon maybe a better daily driver with the street tune running without the skinnies and it has a back seat.
Last edited by Mr. Gizmo; 11-17-2018 at 11:37 AM.
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Vegas1500 (11-18-2018)
11-17-2018, 12:04 PM
#12
Drifting
people do these things all the time. There are many on the forum that finance these z06’s —- with 10 percent down some are totin’ a note for 70 maybe 80k. What would be the huge difference from that thought perspective of financing a demon versus z06? The demon maybe a better daily driver with the street tune running without the skinnies and it has a back seat.
it would have to be because it didn’t fit whatever need the owner had, eg, he got rid of the wife and kids!
11-17-2018, 04:33 PM
#14
Former Vendor
Member Since: Aug 2011
Location: Tampa Fl
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St. Jude Donor '12
Corvette Tuner in Tampa
Man I like both cars, but I may have just kept the Demon. I wanted one before I bought my ZR1, but the Demon was out of my range.
...................................and I would have had to finance it lol
...................................and I would have had to finance it lol
11-17-2018, 04:36 PM
#15
Team Owner
That sounds more like an unreasonable depiction.
Good guess would more at least like half of them are financed you just pay some cash down. Not everyone pays cash! Esp when they came out a 1.69 percent loan made sense.
Good guess would more at least like half of them are financed you just pay some cash down. Not everyone pays cash! Esp when they came out a 1.69 percent loan made sense.
Last edited by 3 Z06ZR1; 11-17-2018 at 04:41 PM.
11-17-2018, 04:49 PM
#16
Le Mans Master
Member Since: Oct 2005
Location: Metro Detroit Michigan
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Why is that your guess? I financed 15K of my Z06 purchase for the minimum three months, and then paid it off, just because it got me a bigger discount.
Are you claiming that Demon owners are totally ignorant about financial matters?
Are you claiming that Demon owners are totally ignorant about financial matters?
11-17-2018, 05:42 PM
#17
Le Mans Master
11-17-2018, 05:56 PM
#18
Melting Slicks
Member Since: Jan 2013
Location: what ain't no country I ever heard of
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nope I’m claiming there were no incentives on that car needed to move them. In your case yes it makes sense, but a 3 month term isn’t much of a loan term so it’s negligible. And yes people I understand some credit unions are giving 2 or 3 percent and you can make 6 to 9 with your money, of which the principal will be less every month to make money with. I’m claiming the risk free easy one payment method on 70 or 80k for a non business expense makes more sense than worrying about the 5 or so percent you might make on such a small amount of money.
11-17-2018, 06:20 PM
#19
Le Mans Master
nope I’m claiming there were no incentives on that car needed to move them. In your case yes it makes sense, but a 3 month term isn’t much of a loan term so it’s negligible. And yes people I understand some credit unions are giving 2 or 3 percent and you can make 6 to 9 with your money, of which the principal will be less every month to make money with. I’m claiming the risk free easy one payment method on 70 or 80k for a non business expense makes more sense than worrying about the 5 or so percent you might make on such a small amount of money.
11-17-2018, 08:25 PM
#20
Drifting
nope I’m claiming there were no incentives on that car needed to move them. In your case yes it makes sense, but a 3 month term isn’t much of a loan term so it’s negligible. And yes people I understand some credit unions are giving 2 or 3 percent and you can make 6 to 9 with your money, of which the principal will be less every month to make money with. I’m claiming the risk free easy one payment method on 70 or 80k for a non business expense makes more sense than worrying about the 5 or so percent you might make on such a small amount of money.
A lot of us learned a long time ago to take advantage of cheap leverage with no prepayment penalties. Having bought and sold 7 cars in three years I can tell u it takes longer to transfer cash out of my brokerage account.
Easiest bet in the world to win- u lose already know a few.
Whoever said abt half is a much better guess although I don’t need the exact # to win the bet
Last edited by Parcival; 11-17-2018 at 08:43 PM.
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Vegas1500 (11-18-2018)