thank god the pandemic is gone. He's probably some 12 year kid.

I agree 10 year financing means you are overreaching.

 

Can't see why 10/12 year financing is over stretching. I mean nobody sees a 12 year finance deal to maturity, that would be foolish but as a short term deal it keeps your payments low, look at it like an open ended lease if you like.
Ok you are not reducing the principle by much over say 2 years but most people who choose this route right off the interest against their businesses.

I'm looking at going this way into an exotic and will be keeping payments around $1k a month, that is in no way over stretching anything.
I know a lot of people do have the cash or forget it ethic, well I could pay cash sure but I ain't waiting 3/4 years to save it, I wont a car now, if this means I have to pay a penalty to get it and I can afford it then so be it.

People preach financial responsibility and it makes me laugh, hands up how many people bough a 997 GT3 RS and paid more over MSRP than I will borrow for my next car.

 

I have always found it quite comical for people who don't have the cars (just an assumption only since your cars are not listed) are the ones to tell people in a forum of owners "who can and who can't"....oh and by the way, learn how to sensor the news broadcasts/media...in other words, just as far off as you were on the car affordibility statement so does it apply to people that drive the Porsches, Lamborghinis, Ferraris, Bentleys, etc...they are not the ones who are in forclosure on a subprime loan.

 

Depending also on certain people's business, it's sometimes easier just to pay the interest rather than fully own an exotic and have other explaining to do. There can be different ways to attaining the same thing for different people and different situations. Although cash is good, you can't show up and buy a 250k car with it.

 

If you can work it out through your business, that would be great. Otherwise, I wouldn't finance my toys.

 

I'm currently in the same predicament with my next car purchase- either I borrow the money from Kirby or from Arling...both offer great financing, but Kirby wants to take pictures of me as a down payment. Not sure how I feel about that

 

Now wait a minute! Pandemic claims he owns a lambo already. I actually really want to see this. Matchbox makes quality cars these days and I'm sure hes got it all dusted off and on his highest shelf. Good for you Pandemic!

 

What kind of business can you have to write off exotics? I wish I could do that but I have a feeling the IRS would be all over me.......picking up office supplies in a Lamborghini whould be hard to explain.

 

^^^ Not if you need em fast

; )

 

I dunno guys. Maybe the new guy was a bit harsh but he may have a pt. I agree w/ financing if it means that there are better ways for you to use your $ instead of plopping it all down in 1 cash payment for a car, but I myself would judge whether I could afford or not by checking if I already have that amt in the bank, even if I did choose financing.

Btw, it's not fair to compare a car (depreciating asset) to real estate (which usu appreciates over the long term) to justify those types of 'over-extending' financing, imho.

 

Let's say you pick up a high-profile CEO to run your company and in his contract he requires a Lamborghini LP640 ... Doesn't that qualify as a company car and write-off?

 

I know people that have done it. It takes a good accountant, but you can do it. For instance I could justify (at least partially) a fast car because part of my business model included getting place quick

 

My ****ing accountant is super conservative she said even if I put my logo on the car I cant write anything off... WTF do i need a new accountant?

 

Yes...

 

YES! fire her ***.......

btw, I borrow money from Kirby as well, that's why everytime i buy,lease,rent a car that i cant afford, i have to buy him lunch