Am I making the right decision?
06-15-2015, 02:27 AM
#16
I'm not a business man and I've never been accused of being prudent or cautious, but my credo is: if I can't afford to pay cash for a car, I can't afford it.
Besides, as great as the 991 GT3 is, you'll probably have more fun driving a GT4 or an earlier GT3, and all for less $, too.
Vivian
Besides, as great as the 991 GT3 is, you'll probably have more fun driving a GT4 or an earlier GT3, and all for less $, too.
Vivian
If you can write a check, buy it. If not, don't.
06-15-2015, 11:45 AM
#17
Instructor
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Hello my fellow Porsche fans, I getting the opportunity to purchase a brand new 2015 GT3 with some solid options. I want to put down a sizable down payment, but I know that the monthly payments will still be large (around 1K). A part me thinks its an impulse buy and I should be careful, but another part of me says that I'll never get an opportunity like this if I pass it up. I just need some advice on the best course of action; do a I say "when in Rome" and go for it or do I pass and say "there will be other opportunities". Any kind of advice would be great; you can even yell at me if you wish, lol.
06-15-2015, 01:16 PM
#18
I'm not a business man and I've never been accused of being prudent or cautious, but my credo is: if I can't afford to pay cash for a car, I can't afford it.
Besides, as great as the 991 GT3 is, you'll probably have more fun driving a GT4 or an earlier GT3, and all for less $, too.
Vivian
Besides, as great as the 991 GT3 is, you'll probably have more fun driving a GT4 or an earlier GT3, and all for less $, too.
Vivian
06-15-2015, 04:13 PM
#19
Rennlist Member
This reminds me of a funny t-shirt I saw on a Russian model in Shanghai. It translates, "Boys, don't chase girls. Chase the money and the girls will come."
There will always be future opportunities - do it when you don't even have to think twice. You'll get more enjoyment from your purchase when you don't have to think about how you're going to pay for it.
There will always be future opportunities - do it when you don't even have to think twice. You'll get more enjoyment from your purchase when you don't have to think about how you're going to pay for it.
06-15-2015, 05:21 PM
#20
Three Wheelin'
Hello my fellow Porsche fans, I getting the opportunity to purchase a brand new 2015 GT3 with some solid options. I want to put down a sizable down payment, but I know that the monthly payments will still be large (around 1K). A part me thinks its an impulse buy and I should be careful, but another part of me says that I'll never get an opportunity like this if I pass it up. I just need some advice on the best course of action; do a I say "when in Rome" and go for it or do I pass and say "there will be other opportunities". Any kind of advice would be great; you can even yell at me if you wish, lol.
06-15-2015, 05:35 PM
#21
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A possible corollary of this: if you're financially stretching to buy a car, you may be expecting the car to enhance your enjoyment of life more than it actually will. While they can be marvels of design and engineering, cars are ultimately just cars.
06-15-2015, 05:47 PM
#22
5th Gear
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I actually think the "wisdom" of not financing a car is extremely misplaced. While you should be financially responsible, interest rates on cars tend to be extremely cheap, so there's a pretty strong incentive to finance even if you can afford to pay cash. Why would you put up so much cash for an asset that is guaranteed to depreciate when you could put down half, finance the rest at a low interest rate, and put the other half in some sort of investment account with positive ROI?
06-15-2015, 05:50 PM
#23
Three Wheelin'
I actually think the "wisdom" of not financing a car is extremely misplaced. While you should be financially responsible, interest rates on cars tend to be extremely cheap, so there's a pretty strong incentive to finance even if you can afford to pay cash. Why would you put up so much cash for an asset that is guaranteed to depreciate when you could put down half, finance the rest at a low interest rate, and put the other half in some sort of investment account with positive ROI?
06-15-2015, 06:25 PM
#26
RL Community Team
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06-15-2015, 06:31 PM
#27
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06-15-2015, 08:00 PM
#28
Three Wheelin'
Let me say that you will always get endless opportunities to purchase any type of porsche you want so long as you can afford them.
Is now the right time? This really comes down to how much of a risk taker you are. My conservative side would say that if you have to ask the question you probably are stretching it. I follow the old wise man type wisdom that if you can't pay cash for it, then don't do it. I am not elderly, just 41.
Is now the right time? This really comes down to how much of a risk taker you are. My conservative side would say that if you have to ask the question you probably are stretching it. I follow the old wise man type wisdom that if you can't pay cash for it, then don't do it. I am not elderly, just 41.
06-15-2015, 09:24 PM
#29
Burning Brakes
The GT3 is not a "payment"car. I once had a a corvette payment that was $1367 per month, but I didn't care because I could have paid cash and only financed it because they offered 0%. Like others said, if you are not comfortable writing a check for the whole amount, then don't finance it.
06-15-2015, 09:37 PM
#30
