NO MORE NEED BE SAID....When my partners 996TT came into The Collection they were brining 30-40k over sticker and he was good and sold it to a friend for sticker only. Once they beefed up prodcution as the saw the usual $$$$ (see my famous "The Porsche Con Job Thread) they are all about $$$ and of course by overproducing the car this is where we are today!

Yes as well the AMG cars depreciate worse then the others MB's I should know.

 

With all due respect, that philosophy does not allow people to maximize their wealth in today's economy.

The average bank auto loan costs around 6%-9% annual interest. The average manufacturer loan costs anywhere from 0%-7%.

Considering that any dumb investor can average at least 10% return in today's market, you are better off using the bank's or manufacturer's money for your car, and put your own cash to work with investments.

 

Path to a turbo:
- married the first lady to give me "real" sex
- had government pay my way through undergraduate and graduate school
- bought house
- had son
- gave wife house and moved on
- killed several companies
- spent fortune in search of wine, women, and song
- married wife #2
- focused on success
- bought houses
- bought cars
- got turbo

 

What the hell is 'real' sex? How do I know if I'm getting ripped off or not? Can I have some?

 

I'm dumb and I can't do that. What's your secret?

 

The answer is you never put cash into a depreciating asset like a car lease it and write it off, unless we are talking Ferrari, Lambo or CGT then you buy it on home equity to get the interest write off or with cashola and take the hit when you sell.

 

What an interesting thread this became. It seems like a lot of 996 TT owners are in predicament for one reason or another. Trojan it seems that you have assesed your situation correctly and that your mind is made up. Seems to be a wise choice to take a loss on the car and to move on. My consolation for you, is that for a while, you were probably one of very few 996 TT owners at a young age (early to mid 20's). Must have been a real kick! I got my first p car at a relatively young age too which was fun but in retrospect not so finacially wise. Now at 34 I wish I would have done things differently. Who knows maybe Id have an extra mill in my account. At any rate, life is like a long season rather than one game, so pace yourself. God willing, you'll have plenty of time and money for other p cars in your seemingly bright future. So as P. Carrol says, "Fight on!"

Ps will SC threepeat w/o N. Chow?

 

It's easy....just pick a balanced portfolio of companies in a variety of different sectors. I'm not as diversified as I would like, but I own stock in a REIT, Oil Drilling, Financial Services, Hotel/Casino, Movie Studio, Airline (my biggest loss), and Telecom (my 2nd biggest loss).

I loaded up on QQQ for low-mid 20's after 9/11 and now it's high 30's. This is one of the smartest things I've done. I knew that individual companies might die in the horrible economy at the time, but the Nasdaq Index is 99.9% sure to increase in value over time.

I have no formal training in the stock market, so if I can do it, anyone can.

 

I believe he means the first time he didn't have to pay for it in cash.

 

how did i do it...

went to school
didnt learn $hit
had no sex
got bills
still no car
bought sex
went to work
got more bills
still bought sex
got married
got more in debt
still no house
bought a 996
bought more mods bills got bigger
now got turbo
have a wife
still no sex
and way more in debt
and still no damn house
very little savings

but

very happy with my wife

and
i always have a smile everytime i drive my TT

 

I am in the business and can tell you that you would be miles ahead if you can find a trusted person who does this for a living.

Most people hold back because of trust, and I can’t tell you how to find someone that will work totally in your best interest. The sad truth is that there are very few advisors who have the knowledge or the integrity that most people would want.

People tend to form opinions based on past experience and present knowledge. This unfortunately keeps them from maximizing their asset potential. The only way to unlock the door and achieve your true potential is by partnering with other professionals.

The real question is, whom can you trust?

 

Joe the greatest piece of lit I have ever read!

 

You sir, are a modern day Shakespeare!

T

 

u make my day joe!

 

I loved my car and put several years of work/$ to get the car the way I wanted it. I did upgrade to a bigger house and therefore Property Tax is A LOT more, maintenance is more, and on and on.

My priorities suddenly changed. I would rather save some money and put it into the house.

To be honest it was hard for me to let go of my cars (TT and Cayenne) but I took a step back and realized that I didn't need them at this moment in my life. In the future I am sure that will change.

Good luck in your decision. (just go with your gut feeling)