2003 Porsche 911 Turbo - $35,800
02-15-2009, 11:32 AM
#31
Racer
02-16-2009, 09:33 AM
#32
Professor of Pending Projects
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Must not think about stuff like that... I have enjoyed the car, DE it once, and use it as a DD... hope to continue to do so for a few more years...
02-16-2009, 04:20 PM
#33
Racer
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if that were the case, the financial situation wouldnt be so dour...
the reason that the isht is hitting the fan is that individuals and BUSINESSES with previously good credit cant get it to meet payroll, buy distressed real estate, undervalued turbos.
Your credit union probably never got burnt by the junk loans that were out there - or are eager to start lending again.
Either way, this is the exception now - not the rule.
02-16-2009, 09:14 PM
#34
Racer
NOT!!!
if that were the case, the financial situation wouldnt be so dour...
the reason that the isht is hitting the fan is that individuals and BUSINESSES with previously good credit cant get it to meet payroll, buy distressed real estate, undervalued turbos.
Your credit union probably never got burnt by the junk loans that were out there - or are eager to start lending again.
Either way, this is the exception now - not the rule.
if that were the case, the financial situation wouldnt be so dour...
the reason that the isht is hitting the fan is that individuals and BUSINESSES with previously good credit cant get it to meet payroll, buy distressed real estate, undervalued turbos.
Your credit union probably never got burnt by the junk loans that were out there - or are eager to start lending again.
Either way, this is the exception now - not the rule.
They told me they normally dont loan on a 996TT or any other Porsche except for the 959. But if my credit was good enough, they would consider it and an 8 year term. Everything went through without a hitch and they did an excellent job communicating and making everything smooth.
So dont know if the classic / exotic industry is doing better than others, but I have a few bank / financial industry folks as clients and they say no problem getting money if credit is good... At least around here...
02-16-2009, 11:29 PM
#35
Burgled
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That is what keep thinking... I got my car August, 2006 with 49,497 miles for - US$62,500.00 and jimq got his (X50) not too long after for about the same $...
Must not think about stuff like that... I have enjoyed the car, DE it once, and use it as a DD... hope to continue to do so for a few more years...
Must not think about stuff like that... I have enjoyed the car, DE it once, and use it as a DD... hope to continue to do so for a few more years...
My car hasnt lost nearly as much value as my 401K's and stock investments have so its actually been a good investment for me. If I had the money in the market it would be nearly worthless. At least I have the cars to enjoy
Last edited by jimq; 02-17-2009 at 12:20 AM.
02-18-2009, 04:20 PM
#36
Burning Brakes
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I feel so much better knowing I paid cash for my Turbo. I guess it sucks to be one of 'those guys' who over extended his finances for the sake of immediate gratification, and now finds himself having to dump his car for $35k.
