how much income do you need to buy a 997
10-12-2006, 06:58 PM
#166
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Originally Posted by Putt-Putt
It's not elitist to say "don't buy a car you can't afford".
Alan
10-12-2006, 07:08 PM
#167
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I always lease my daily driver, Audi S4, M3, etc. so I don't have to worry about resale and trade in value, etc., but I buy my weekend car with cash 996 C4S, Z06, etc.
10-12-2006, 08:28 PM
#168
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Lease
Originally Posted by THPorsche
Cash - Great
Finance - If you don't have to change your spending habit and can use the money to make more money - why not?
Lease - Personally, I don't like to "rent"
Finance - If you don't have to change your spending habit and can use the money to make more money - why not?
Lease - Personally, I don't like to "rent"
1. my lease is paid by company for most part
2. Everytime I purchase a car it gets hit within 3 months. Everytime I lease it stays perfect... go figure.
10-12-2006, 09:39 PM
#169
Originally Posted by BiggerTwin
No, but it is presumptuous. I don't know what is important to you and it is overly simplistic to say don't buy what you can't pay for with cash. Priorities and life expectancy vary from person to person. For those who say only use cash, I would like to be there when the doctor tells them they have inoperable cancer. Life is a balance and while you don't want to be poor while alive, you don't want to be rich and dead either.
Alan
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10-12-2006, 09:50 PM
#170
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personally, i feel a car payment is a fact of life. secret is how many you make before it is paid off.
what i find humorous is the "how to pay for a luxury item" argument. so then a 997 is not a daily driver but rather a luxury? now that is both pretentious and elitist IMO. i hear those guys with Z06's drive them everyday.
what i find humorous is the "how to pay for a luxury item" argument. so then a 997 is not a daily driver but rather a luxury? now that is both pretentious and elitist IMO. i hear those guys with Z06's drive them everyday.
10-12-2006, 10:30 PM
#171
Burning Brakes
I think this was covered (less lengthily, tho..) in a thread before.
I very seldom buy my daily drivers. As soon as I'm driving them home, I'm wondering what I will buy (lease) next.
Altho, I've had several cars that I liked a great deal, non are still in my stable as daily drivers. Porsches, Mercs, Vettes, Trucks, BMWs, yada, yada... all leased. All gone. Some better than others.
I paid for my 993 C4S (pricey, too) and will keep it for a long time. I care for it very much. Weekend driver. But, my March delivery C4S 997 will only be mine for 24-30 months. If it is one of the best cars I've had ... and nothing else beckons, I may buy it. Otherwise ..... "NEXT.....!"
Oh, BTW, my company (it is really mine) pays for my car's rent. We could buy 'em, but since I don't keep 'em .... I don't see the point. Plus, it is a write off of some sort as well.
BTW again .... I've been on many MBs that some members have the idea that if you don't pay cash you're some sort of a 2nd rate citizen of the board. That's just bullsh*t. Many of us can pay cash for our daily rides, but the money is used in better places ... especially if one gets new ones fairly often. Yeah, if you wanna keep it for 5-6-10 years and have the coin, them buy it by all means. Heck, you can even do a "heloc" for that.
If you are trading it in every 2-3 years ... lease it.
BAGGER
I very seldom buy my daily drivers. As soon as I'm driving them home, I'm wondering what I will buy (lease) next.
Altho, I've had several cars that I liked a great deal, non are still in my stable as daily drivers. Porsches, Mercs, Vettes, Trucks, BMWs, yada, yada... all leased. All gone. Some better than others.
I paid for my 993 C4S (pricey, too) and will keep it for a long time. I care for it very much. Weekend driver. But, my March delivery C4S 997 will only be mine for 24-30 months. If it is one of the best cars I've had ... and nothing else beckons, I may buy it. Otherwise ..... "NEXT.....!"
Oh, BTW, my company (it is really mine) pays for my car's rent. We could buy 'em, but since I don't keep 'em .... I don't see the point. Plus, it is a write off of some sort as well.
BTW again .... I've been on many MBs that some members have the idea that if you don't pay cash you're some sort of a 2nd rate citizen of the board. That's just bullsh*t. Many of us can pay cash for our daily rides, but the money is used in better places ... especially if one gets new ones fairly often. Yeah, if you wanna keep it for 5-6-10 years and have the coin, them buy it by all means. Heck, you can even do a "heloc" for that.
If you are trading it in every 2-3 years ... lease it.BAGGER
10-12-2006, 11:37 PM
#172
I worked the numbers several times and I think that leasing vs buying is basically a wash from a financial point of view. What you lose at trade in on a cash sale is offfest by the interest you pay on a lease for the most part. What leasing allows you to do is to take the loss on the "back end" (as opposed to in the "back end") in that you are left with no equity at lease end.
If you can put your money to better use than paying cash for a car then it makes sense to lease. However, what I find to be the case most of the time is that people lease cars because they could not otherwise afford to buy them outright. Everyone is free to do what they want with their money but, in my book, that is an absolutely inane way of allocating your resources. These people, IMO, are simply stupid.
How's that for being an elitist?
If you can put your money to better use than paying cash for a car then it makes sense to lease. However, what I find to be the case most of the time is that people lease cars because they could not otherwise afford to buy them outright. Everyone is free to do what they want with their money but, in my book, that is an absolutely inane way of allocating your resources. These people, IMO, are simply stupid.
How's that for being an elitist?
10-13-2006, 12:44 AM
#174
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The idea of buying one of these cars with cash only is ridiculous and I'll tell you why. Flat out, some of us, are smart enough to beat the interest rate. Putting my cash into a car strikes me as dumb because I can make money off that cash.
It is elitist btw IMO to say if you can't buy with cash you can't afford it. The fact is what someone places in terms of value on a car and their level of incom are going to range widely. How would you like me to say "anyone who buys a car with cash is either lazy or stupid and can't figure out how to squeeze money out of the market to beat the interest rate?"
Yeah I thought so
It is elitist btw IMO to say if you can't buy with cash you can't afford it. The fact is what someone places in terms of value on a car and their level of incom are going to range widely. How would you like me to say "anyone who buys a car with cash is either lazy or stupid and can't figure out how to squeeze money out of the market to beat the interest rate?"
Yeah I thought so
10-13-2006, 01:59 AM
#175
Originally Posted by quantimouse
....
It is elitist btw IMO to say if you can't buy with cash you can't afford it. The fact is what someone places in terms of value on a car and their level of incom are going to range widely. How would you like me to say "anyone who buys a car with cash is either lazy or stupid and can't figure out how to squeeze money out of the market to beat the interest rate?"
Yeah I thought so
It is elitist btw IMO to say if you can't buy with cash you can't afford it. The fact is what someone places in terms of value on a car and their level of incom are going to range widely. How would you like me to say "anyone who buys a car with cash is either lazy or stupid and can't figure out how to squeeze money out of the market to beat the interest rate?"
Yeah I thought so
My expertise is in medicine. That's how I make my living. I don't know **** about investing and neither do most of the people on this forum who attempt to justify their purchase of a luxury item they basically can't afford by trying to convince themselves (and others) that they can get a higher rate of return elsewhere. If you can, than more power to you but I just don't believe that this has been possible for most people over the past 5 years.
People lease cars, by and large, because they could otherwise not afford to buy them outright. There's nothing shameful about that per se. It's just stupid economics.
10-13-2006, 02:04 AM
#176
Originally Posted by dstrimbu
You da man, Boo. Love your avatar. Do I know her?
LOL!
She's from Bobby Valentine's video "Tell me."
Hip Hop videos provide an object lesson on how real women are supposed to look.....
10-13-2006, 03:35 AM
#177
Straight to Video
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Originally Posted by quantimouse
The idea of buying one of these cars with cash only is ridiculous and I'll tell you why. Flat out, some of us, are smart enough to beat the interest rate. Putting my cash into a car strikes me as dumb because I can make money off that cash.
10-13-2006, 09:12 AM
#178
Originally Posted by boolala
If you can put your money to better use than paying cash for a car then it makes sense to lease. However, what I find to be the case most of the time is that people lease cars because they could not otherwise afford to buy them outright. Everyone is free to do what they want with their money but, in my book, that is an absolutely inane way of allocating your resources. These people, IMO, are simply stupid.
10-13-2006, 11:32 AM
#179
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Originally Posted by Fred2
This is one of the reasons I avoid buying off lease cars. If the previous owner could not afford to buy it, they may not be able to maintain it. The other reason is many abuse the veihicle, because it is "Just a lease".
Do you have any idea how many people lease upper end cars? It is over 65%. There are a million reasons why people lease vehicles. Tax write off for self employed people; car allowances from employers; don't own a vehicle for more than 2 or 3 years, etc. etc. etc.
Personally, I pay cash about 50% of the time on vehciles I intend on keeping. The Yukon I recently sold I was able to get 60 month financing at 0% interest. Please tell me how paying cash for that vehcile ($40K) makes more sense than getting FREE MONEY for 60 months.
The cars I don't pay cash for are ones that I turn over every 24-36 months. Why would I want to come out of pocket for that vehicle and run the risk of losing my *** when I go to sell it when I know EXACTLY when the lease is up I can hand the keys over and move on to the next one. Bottom line, if you are in and out of cars every 2-3 years and you pay cash for them, you are not getting the most use out of your cash.
Last edited by amerlemans; 10-13-2006 at 11:51 AM.
10-13-2006, 11:49 AM
#180
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Originally Posted by amerlemans
Do you have any idea how many people lease upper end cars? It is over 65%. There are a million reasons why people lease vehicles. Tax write off for self employed people; car allowances from employers; don't own a vehicle for more than 2 or 3 years, etc. etc. etc.
Personally, I pay cash about 50% of the time on vehciles I intend on keeping. The Yukon I recently sold I was able to get 60 month financing at 0% interest. Please tell me how paying cash for that vehcile ($40K) makes more sense than getting FREE MONEY for 60 months.
The cars I don't pay cash for are ones that I turn over every 24-36 months. Why would I want to come out of pocket for that vehicle and run the risk of loosing my *** when I go to sell it when I know EXACTLY when the lease is up I can hand the keys over and move on to the next one. Bottom line, if you are in and out of cars every 2-3 years and you pay cash for them, you are not getting the most use out of your cash.
Personally, I pay cash about 50% of the time on vehciles I intend on keeping. The Yukon I recently sold I was able to get 60 month financing at 0% interest. Please tell me how paying cash for that vehcile ($40K) makes more sense than getting FREE MONEY for 60 months.
The cars I don't pay cash for are ones that I turn over every 24-36 months. Why would I want to come out of pocket for that vehicle and run the risk of loosing my *** when I go to sell it when I know EXACTLY when the lease is up I can hand the keys over and move on to the next one. Bottom line, if you are in and out of cars every 2-3 years and you pay cash for them, you are not getting the most use out of your cash.
It all depends on the needs of the individual, frequency of vehicle turn-over, available financing, vehicle reliability factor, etc. I go with either the lease or purchase, and each time & each vehicle is different for me based on the opportunity cost.