Surgeon...do you really fart in your car? Damn.

RL....I think you ought to sell the Porsche and the GX, and buy a couple of beat up old Hondas. Then send 'em to me so we can Pimp Yo' Ride.

 

You have a PM.

 

I own the Porsche, and I'm NOT selling.....as the Doc said, it's emotional!!!!! As to the GX, and my wifey's situation, I can't count the cars I've "taken" away from her, and if it were her choice, I PROMISE she'd keep a car 5 years ......let's see, it's been (this is gonna get embarrassing)....2 Escalades, 1 Range Rover (that was her fav), 1 X5, 1 S500, 1 S430.....we've been together since '97, so I think I'm going to quit the list before someone sends an ambulance!!!!

 

Save some cash, man just lease her the car, then she can get something else later. But, I know my wife never changes her mind.

 

I just leased a 2003 C4 Cab, My rationale is as follows

1) only want car for 3 yrs, will buy a new 997 S cab at the end
2) I like to know that I have at least one buyer, Porsche Financial, waiting for me in 36 mths, I can always buy it and resell if the value holds up or I can give it back to porsche
3) Financially, I am not paying interest or fronting my cash (i.e. personal equity) on the portion of the car I m not using. Meaning, I could have paid cash, but have that invested rather than sitting idle in a car earning negative %, or even if I financined it, I am not paying interest on the portion of the car I never intend to own
4) I do not take a tax deduction so I was not motivated by that
5) I am a believer in maintaining maximum personal liquidity, the less cash I have to give someone and the more cash I control, puts me in the driverseat if I hit a bump in the road or want to capitalize on an investment oppty. always use OPM (others peoples money)

For instance, assume you had a $1 million house, would you rather have a $1 million mortage and $1 million of cash in the bank or no mortgage and thus no cash?

 

I would rather have the house and no mortgage...an appreciating asset, cash is a depreciating asset by itself, and at least around here you can earn more on real estate than any other conservative investment and you don't have to pay income tax on the return.

 

Just wondering, I have a HomeEquity Loan here in Australia and you are not permitted to claim interest as a Tax deduction. The rationale is is that your home is not an investment (you live in it as opposed to a true investment property) So, in light of this, how is it done overthere? or am I missing something?

Thanks

Jason

 

Lots of good info on this thread. The only caution I have is don't put down a large down payment just to get your lease payments down. I had a friend who put $10K down on his 997 lease and within three months his car was totalled. Bye bye $10K.

 

To me the biggest disadvantage of a lease is loss of flexibility. Despite leaseswap.com, it can be very hard to get out of a lease if you decide you don't like a car or like something else better.

If you do decide to lease, as someone else suggested, you MUST do your homework. Time and time again I've had what seemed to be reputable dealers pad the lease with fees that were never disclosed up front. After I run the numbers independently and come up $50/month cheaper or whatever, they usually fess up that "oh yeah, we didn't tell you about the blah-blah fee?". I think that this is the reason dealers like leases so much. It's very easy to hoodwink the buyer into paying a little extra each month. Sort of the gift that keeps on giving--$50/month, $600/year, over the 3 years the dealer pockets an extra $1800. Very hard for dealers to resist.

 

Don't put ANY money down on a lease, I don't even put the taxes down, let them roll it into the lease payment. The reason for this is the example Fast1 gave... if anything happens to your car you will lose any money you put down.

And besides the major advantage of leasing is not putting any money down.

Rob

 

Previously, my negative with leasing was that the theory was good, but the implementation didn't work for me. They tell you that you'll not have your funds in a piece of depreciating hardware, and you can put it in some instrument to realize a gain.....my problem has been, and I don't think I'm alone here, I'd find myself with disposable cash, buy some crap I really didn't need, and wind up w/a payment. I think it requires investment discipline, or you might as well buy, and not have the payment.

Still pondering......

Meanwhile, picture this scenario.....dinner at the Palm, in Nashville, for wife's birthday....arrive in the GX 470....while we're dining, the BMW dude arrives, gives the Valet a twenty....gives him a giant red bow to put on the '05 645i Convert...black w/cream interior.....we come out, give the valet our ticket, and out comes the birthday present......she'll freak, especially if there's a line waiting for their cars.....

I can't wait!!!!!!!!

 

Great plan. Personally, the 6 doesn't do much for me, but I think your execution sounds awesome if you pull it off!

 

Richard - Neat plan. Did you read the "Diamond Package Option" thread on the 997 Forum? Some guy is getting a new '06 997 and is planning on having a pair of diamond earrings in the glove box (no, Dell, not for himself, for his WIFE!) to give to his wife when he brings the car home.

Maybe you could switch that whole process around and put a certificate for multi P-car mods in the BMW glove box. You can lease her BMW and you'll have a lot of cash on hand. Then, instead of buying some crap you really don't need (remember those are your words, not mine), you can spend it on the P-car!

BTW, when is your wife's birthday? Are you going to be pressed for time or do you have a few weeks to work everything out?

(Dell, you really MUST try to focus more. Having to stop in mid-sentence to explain things to you really hurts the flow of the thread!)
OK, Dell, I know I've got one or two coming my way soon!

 

You gotta get a cheaper wife

 

It doesn't have to do much for you.....it's HER fantasy car!!!!