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exactly, imagine if you took the 100k funds for the 992 and dumped it into bitcoin when you placed the order. you would have doubled that money and deduct 2.9 interest cost. makes more sense to take advantage of cheap money.
And imagine if that ‘investment’ collapsed dotcom style. Been there, seen that more than once. Not pretty.
Exactly. hindsight is 2020. If you spend your time imaging the gains you 'could have' had, you'd be driving yourself nuts. To each their own risk tolerance. Paying cash for this car won't break the bank and makes me sleep better at night.
Perspectives on how to finance/pay for a 992 will be skewed by the country a person lives in. In Canada, there is no sub-3% financial institution financing available; even a LOC is going to be at an interest rate (in most cases) in the 5%+ range. As for leaving money in the market rather than taking a chunk of it off the table to pay cash or put a big DP on a large consumer purchase, all I can say is "good luck" with that strategy. With Tesla at $864 (as I write this) serving as the poster child for chillingly outrageous valuations, it requires a degree of bullishness beyond reason to think the run will continue, and past returns will reflect future performance. In my view, reality will bite soon and hard.
Yes, but here in BC if you don’t lease you pay outrageous tax. To buy any car over $150k, it is 20%. You are far better to lease and only pay 20% tax on a portion of that $150k, unless you plan to buy and hold.
Yes, but here in BC if you don’t lease you pay outrageous tax. To buy any car over $150k, it is 20%. You are far better to lease and only pay 20% tax on a portion of that $150k, unless you plan to buy and hold.
Can you explain a bit more? One off tax or yearly, on top of any other taxes or is that in total?
Yes, but here in BC if you don’t lease you pay outrageous tax. To buy any car over $150k, it is 20%. You are far better to lease and only pay 20% tax on a portion of that $150k, unless you plan to buy and hold.
Understand...I live next door to B.C. and am thankful our tax is only GST @ 5%. The problem with leasing a 911 in Canada and giving the car back at term end is that residuals are so low you are leaving 10s of thousands of dollars on the table (on my last 911 lease, the difference between the residual value and what I sold the car for privately was $38k). In B.C. at lease end would you be subject to the same percentage tax on the residual amount if you bought out the car, or is it viewed as a used car at the point with tax at a correspondingly lower rate?
Understand...I live next door to B.C. and am thankful our tax is only GST @ 5%. The problem with leasing a 911 in Canada and giving the car back at term end is that residuals are so low you are leaving 10s of thousands of dollars on the table (on my last 911 lease, the difference between the residual value and what I sold the car for privately was $38k). In B.C. at lease end would you be subject to the same percentage tax on the residual amount if you bought out the car, or is it viewed as a used car at the point with tax at a correspondingly lower rate?
I’m in BC. The tax rate is actually 25% for cars over 150k, it’s 20% for cars between 125k and 150k. My C4S had a MSRP of 190k.
If you lease the car , you pay 25% tax on the lease down payment and lease payments. If you wait to buy out the lease until the buyout falls below 125, the tax on the buy out is based on the buy out price and it will be be 15%.
For me, tax savings is approximately a wash with the lease interest, and I get to hold my money longer. I don’t care what the payment or residual is, because I plan to keep the car, all I care about is the total $ spent to fully own the car.
The other advantage of the lease, is that I can hand the car back after two years if it’s in an accident.... some insurance through the steepest part of the depreciation curve.
Ok Thanks, I believe their current best rate is 3.99 and most Credit Unions are lower than that right now.
Im hoping my car gats to the dealer in the next few days. My SA is saying PFS is still 2.99% and rates are unchanged for this quarter compared to last quarter. Won’t know until I actually sign the paperwork.
01-08-2021, 11:14 PM
