What sort of ways are most you guys buying these cars? I will be searching for a 997tt soon, and I will most likely finance it. Is that a good or bad idea for any reason for this car? I def want to buy it as opposed to leasing it, because I am not sure how long I will keep it. Plus I will drive prob 7-10k a year on it, and a dd the rest.

Please keep in mind this thread isn't about what one can or cannot afford, but one about how many of you have bought your 997tt.

Thanks,
Canon

 

I bought -Porsche leases generally not that great. Plan on $25k/yr drop from MSRP for auction prices.

 

Keeping in mind when/if I will buy, it will be used and I will buy close to wholesale pricing, considering the market. And I have a trusted dealer broker who would take me to mahiem.

 

Then you will get a good deal - good luck!

 

Thanks I hope so... And I am more into getting a car that's just right: options, condition, and colors; I wouldn't mind paying a few dollars more for something that's perfect.

 

cash is king right now..im hoping to be able to make it to this thursday's manheim with a dealer friend of mine to pickup an 07 turbo

 

yes it is....

 

there is no right or wrong answer here. it is all preference. personally, i would not want an auction car, but i understand the great deals that can be had. i would rather get a new car, but i will wind up (as i did) paying a bunch more for a new 09.

 

I agree completely. That is why I paid for a 2009 spec'd exactly how I wanted it instead of saving tons of money on a used car. It just depends on what is more important to you.

 

Banks are there to make money, not to lose money. Guess where do they get the money? From those who get loans... When you get a loan to finance a business, which will bring you more profit than interest you pay, it's one thing. If you are taking money to buy a personal item (no matter what it is, a house, a car, a pack of cigarettes) -- you just pay more in the long run, and paying for your banker's Porsche or Ferrari.

Of course, if you have no cash, then loan is the only option. But if you have cash to spare, then ask yourself -- can you be more economically efficient than the bank, and get more profit from your cash in hands, than bank lending you money. If so -- go ahead, invest the money and take a loan to finance your TT. If not -- you should use cash to buy your car now, rather than pay principal+interest in the future. It's just simple economics.

 

buy it if you have at least 5xs that in the account (that's how I like to make these calculations). This way you're not tying up too much capital that could be used elsewhere. Plus there should be some pretty good deals out there with low rates, so if that's the case, then use the bank's money. All comes down to your individual situation

 

If you can use pre-tax dollars, lease it then buy it with the residual value of the car in 3-4 years.

 

Lease it thru your biz in pretax dollars if you can. Henry Ford said to never tie up cash in a depreciating asset.

 

The question is whether to pay cash or finance? That is an easy one, always pay cash. If you are looking at new cars, you'll have some options, but none of them will make sense unless you can show me how you are making more then 6% on your money these days
Tax benefits on a lease are typically red flags for the IRS, I'll skip that small savings, thanks
If you go used, you'll find ZERO financial institutions interested in your business, meaning, you'll pay a ton to play. Is it worth it? Probably not, and you'll be back to a new car.
There are not many options these days. Your absolute best bet is to pull equity from your home, if you have any and use that to buy your car. Otherwise, I am afraid if I were your accountant, I would say to look at some cars.

 

Wow this is a lot of information here. Let me clear up my options before many of you recommend stuff that doesnt make sense for my situation. First off, I will prob only buy a used 07, since thats in my realistic budget (=<90k). Also, yes we can earn more then 6% ROI/ROE, ofcourse there is a give or take built in there. And no I cannot personally afford to pay cash outright, this year, for this vehicle.

Also, I do believe you can expense out (pre-tax) a car if it used for business purposes, which I can do in my case. We are in hotels, and I believe I can deduct part of the interest as an expense, (but only the percentage it is used for business). That is what I will mostly likely do, ofcourse after speaking to my accountant.

Now with used car financing, I have excellent credit, as does my father who is also my business partner. I know if he were to buy the car in his name, he'd get top teir financing, just we haven't really shopped for financing lately, except for we bought a CPO BMW with .9% financing, but that was a special. If used car financing is not available I can look into personally loans (depending on the terms), or worst comes to worse have my father pay for the car, and I pay him back as if he were the bank. But, those two options may be not worth buying the car.

Thoughts? Has anyone gotten financing for a reasonable rate for an 07 997tt? Is that kinda money still out there?