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Just thought I'd ask. I'm assuming that most people are not coughing up $120-$160k cash to buy this car, but who knows?
Many of you are cycling your 911s every couple of years, so I wonder how you are financing that as well?
I bought mine up front with cash. This is my 1st 911 (and first Porsche) and I've only bought cars that way. But that may not be the way I do this in the future. Please vote and share your experience. Thanks
If you're having to liquidate something to raise the cash, I see a stronger case for financing. Borrowing against an equity portfolio would probably get you a better rate than PFS. But given how expensive financial assets are and how hard it is to find yield, not sure I'd be borrowing just to redeploy the money elsewhere. Risk adjusted return with cost of funds at 2-4%, no bueno.
Money is so cheap right now that cash doesn't make a lot of sense. Use the cash to put down a healthy down payment to get the car below $100k and let some credit union float you the rest at the current silly low rates.
Money is so cheap right now that cash doesn't make a lot of sense. Use the cash to put down a healthy down payment to get the car below $100k and let some credit union float you the rest at the current silly low rates.
I don't know--these are strange times. Where can you earn a guaranteed rate of upwards of 3% after tax on you idle cash these days to offset the financing cost? I'm not talking about investing the the stock market, which is pretty frothy right now with a lot of uncertainty.
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.
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.
+1
I don't believe the market in 2021 will look anything like 2020. I probably wouldn't liquidate any investments, especially if they're paying nice dividends, but if you have enough idle cash in maturing CD's or high yield savings accounts, I don't think it makes sense to borrow now.
01-08-2021, 12:53 PM
How are you buying your 911?
