View Poll Results: How did you finance your car?
Business expense - lease
19
19.39%
Over 35 paid cash
27
27.55%
Under 35 paid cash
25
25.51%
Over 35 financed
11
11.22%
Under 35 financed
16
16.33%
Voters: 98. You may not vote on this poll
How do you guys get these cars???
Registered User
Joined: Nov 2003
Posts: 1,268
From: LA
Rep Power: 0
Originally posted by Cary Eisenlohr
Had to pay cash ... I don't make enough to qualify for a loan or lease
Had to pay cash ... I don't make enough to qualify for a loan or lease
Registered User
Joined: Aug 2003
Posts: 1,115
From: OC
Rep Power: 67
Originally posted by SteveH
it's funny cuz it's true
there is just no way that all these people in LA can truly afford to drive Porsches
it's funny cuz it's true
there is just no way that all these people in LA can truly afford to drive Porsches
why, don't many people in LA have rich parents?
Last edited by alamein; Jul 27, 2004 at 04:04 AM.
Registered User
Joined: Jul 2004
Posts: 669
From: Orlando, Florida
Rep Power: 109
Cash - Don't like being tied to a lease. May want to trade, etc. in a short period of time. Lease the car for my wife...low miles and get her something new every three years. She is happy and I can enjoy and trade toys.
Registered User
Joined: Aug 2003
Posts: 108
From: Westport, CT
Rep Power: 27
Lease it. Why buy a depreciating asset? I rather let the leasing company take the hit... my leasing company has this car at $100K on their books when they would not get anything near that. It has nearly 40K miles on it and I will be over the lease limit by about 20K when I am done. Rather pay them the $3600 ($.18/mile over) and see the look on their face when they get the car back with over 80K miles on the clock. ;-)
Thread Starter
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Registered User
Joined: Jul 2003
Posts: 2,638
From: Carlsbad
Rep Power: 131
Skaria - read the fine print on your lease. My last lease was a Mercedes and I put an additional 15000 miles on it and there was a clause that allowed for excess mileage depreciation which cost me another chunk of change - shame on me for not reading the agreement closer
Cab Lover
Joined: Nov 2003
Posts: 429
From: Redondo Beach
Rep Power: 40
Hey guys at the end of the day what really matters is we "all" are driving some amazing cars and appreciate them for what they are. Who the hells cares how you manage to pay for the car as long as you are on this board then you're not the average P-Car driver but a true P-Car lover!
Enjoy.......
Enjoy.......
Registered User
Joined: Dec 2003
Posts: 327
From: Long Island, New York
Rep Power: 36
i paid for mine. but thats because i lease a denali for daily use and write that off. also i planned to keep the p-car for quite a while to reduce the depreciation hit.
if its your daily driver i think leasing it through a business is the best way to go. the business doesnt have to make money, as long as its got some cash flow to pay the lease payment. you can get away with that for few years usually with no big problem. then close the corp when the lease is up if you have no need for it and no real income.
some folks will take a consulting check from their job and dump it into an LLC., type corp so they can put through some expenses even if they are a W2 type employee.
if its your daily driver i think leasing it through a business is the best way to go. the business doesnt have to make money, as long as its got some cash flow to pay the lease payment. you can get away with that for few years usually with no big problem. then close the corp when the lease is up if you have no need for it and no real income.
some folks will take a consulting check from their job and dump it into an LLC., type corp so they can put through some expenses even if they are a W2 type employee.
