hacker-pschorr

chsu74

How is this remotely close? Lets just assume you will live out of your 993 purchased. Are you able to write off other purchase interest charges like a mortgage interest?

Mark in Baltimore

If you have a business and purchase a business vehicle, the interest charges are tax deductible.

chsu74

Correct. It would be implied that the vehicle is used for the business purposes and not value speculation.

Quadcammer

what? If you finance because you want to leave investments alone, ok. But really, I guess my assumption is that people who are into these cars are sound financially. That typically implies healthy savings in various asset classes, not over leveraged on the house, good tax advantaged retirement etc.

There are tons of fun cars that can be purchased cheap and driven at low costs (read: E46 M3). While not 993s, they are driving enjoyment for folks who maybe don't have the funds for a 911.

I know some people are super enthusiastic about cars and are willing to throw caution to the wind to own one, but I'm not sure how you can enjoy it when you are sweating monthly payments and a potentially large unexpected repair. I suppose its a yolo vs. conservative approach.

Quadcammer

In an ideal world, people would buy homes in cash, but thats simply not realistic. Fun cars on the other hand, can reasonably be purchased for cash. Differences?

1. You LIVE in your home. We are not talking about honda civic commuters necessary to get to your job. This is a luxury without question.
2. Mortgage interest is tax advantaged
3. Homes are typically several hundred grand, not $40kish

I can't believe I had to even explain this.

INTMD8

So you could have paid cash for a small house but decided to borrow money to buy one you can't pay cash for.

That would be financing for a luxury you cannot afford to pay for outright correct?

I just get a laugh out of those thumping their chest about "I pay cash for everything" while likely having 10x the mortgage of the guy looking to finance a sports car for a couple of years.

INTMD8

It's remotely close as the logic is you can't afford it and shouldn't buy it if you can't pay cash for it. Interest over the entire term of a 993 would be less than a year interest on most home loans so I don't see the relevance.

hacker-pschorr

You don't
Everyone hear understands that, I'm about to start calling you Captain Obvious - reason for the image above, that is what is typically means.

What's it to you? Who cares? Someone wants to finance their 911, so be it.
I know a local guy who financed his Viper GTR whatever custom ordered last edition something. This guy has enough cash lost in his couch cushions to pay for the Viper. Why did he finance it? I don't care, none of my business or yours.

This thread is asking where / how to do something, not asking if he should...... I don't see where you have been proclaimed the finance king of Porsche land.

No Sh*t Sherlock nobody NEEDS a Porsche. What's your next proclamation, that snow is cold and politicians are crooks? I cannot wait for the earth shattering essay on those topics.

Quadcammer

I guess we went off topic. The OP got about a dozen good recommendations for lenders. At that point, it went off the rails. Do I care what someone finances? No, just like I don't care what oil someone uses, or if someone got new HID bulbs. But its a discussion forum so things get discussed and view points are made. Then again, there are far worse thread derailments around here, so I'm not too worried about it.

Lol, I happen to live in a very expensive area, so yes, I have a mortgage on my condo, but its not substantial. I could have afforded more but elected not to. I could also have moved to a cheaper area. While I see your point, a home is still much different than a car.

ilko

I know of someone who never carries cash and pays with a credit card every time we go to the diner after one of our drives. Should he be told to go to the hot dog stand down the road instead?

ilko

As far as finance vs buy outright, lately it's been WAY cheaper to finance. Let's put it this way, I've made enough on my S&P holdings alone in the past couple of months to pay for my transmission overhaul and re-gear.

Quadcammer

lol I hate going to the bloody atm.

INTMD8

Of course, just saying everyone has their own financial situation or ways of doing things and I don't think it's fair to say that a 993 should never be financed. Certainly seems a safer bet than financing a new car that will be down 50+% value by the time it's paid off.

Even homes aren't a sure thing as far as that is concerned.

points

This is staggeringly offensive. Im just appalled that a post like this actually exists. What in the world has gotten in to you?