View Poll Results: How did you acquire your Porsche?
Purchased, paid in full.
100
51.28%
Purchased, financed with conventional auto loan.
49
25.13%
Purchased, financed with home equity line of credit.
18
9.23%
Leased.
28
14.36%
Voters: 195. You may not vote on this poll
How did you acquire your Porsche?
10-12-2006, 05:05 PM
#1
Rennlist Member
Thread Starter
How did you acquire your Porsche?
Thought it would be interesting to get some numbers.
How did you acquire your Porsche?
a. Purchased and paid in full.
b. Purchased with auto loan
c. Purchased with home equity line of credit.
d. Leased.
How did you acquire your Porsche?
a. Purchased and paid in full.
b. Purchased with auto loan
c. Purchased with home equity line of credit.
d. Leased.
Last edited by Cowhorn; 10-13-2006 at 01:07 PM.
10-13-2006, 01:28 PM
#4
Instructor
Join Date: Sep 2005
Location: Midlands, UK
Posts: 142
Likes: 0
Received 0 Likes
on
0 Posts
In an earlier thread on a similar subject someone offered the sound advice of not financing a depreciating asset. In my youth I did not always follow this (too easy for a heart to rule a young head) but there is no denying the wisdom of it.
10-13-2006, 02:11 PM
#6
Banned
There was a similar poll done here already:
https://rennlist.com/forums/997-forum/242346-cash-payments-or-lease.html
https://rennlist.com/forums/997-forum/242346-cash-payments-or-lease.html
10-13-2006, 02:17 PM
#7
Rennlist Member
Thread Starter
Originally Posted by OCBen
Trending Topics
10-13-2006, 02:30 PM
#8
Intermediate
Join Date: Sep 2006
Location: Orange County CA
Posts: 27
Likes: 0
Received 0 Likes
on
0 Posts
The question I would pose is what sort of demographic does a board like this attract, and how does that impact the results of this poll versus a larger sample of the general population that purchases 997s. Is a Rennlister more or less inclined to buy outright vs. finance or lease? Would be interested in hearing other people's opinions.
10-13-2006, 02:57 PM
#9
Rennlist Member
I got my loan for 2.75% through my local credit union.
Couldn't justify paying cash when I can make more than that with my money. Heck i make 2.25% more than that on money just sitting in my Citibank e-savings account and way more in other investments.
At today's rates you can get a loan for about 5.5-6%. With those rates and the market the way it is, it just seems foolish to pay cash for expensive cars that tie up so much money.
Just my $0.02.
Couldn't justify paying cash when I can make more than that with my money. Heck i make 2.25% more than that on money just sitting in my Citibank e-savings account and way more in other investments.
At today's rates you can get a loan for about 5.5-6%. With those rates and the market the way it is, it just seems foolish to pay cash for expensive cars that tie up so much money.
Just my $0.02.
10-13-2006, 06:01 PM
#11
Instructor
Join Date: Sep 2005
Location: Midlands, UK
Posts: 142
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by ELUSIVE
I got my loan for 2.75% through my local credit union.
Couldn't justify paying cash when I can make more than that with my money. Heck i make 2.25% more than that on money just sitting in my Citibank e-savings account and way more in other investments.
At today's rates you can get a loan for about 5.5-6%. With those rates and the market the way it is, it just seems foolish to pay cash for expensive cars that tie up so much money.
Just my $0.02.
Couldn't justify paying cash when I can make more than that with my money. Heck i make 2.25% more than that on money just sitting in my Citibank e-savings account and way more in other investments.
At today's rates you can get a loan for about 5.5-6%. With those rates and the market the way it is, it just seems foolish to pay cash for expensive cars that tie up so much money.
Just my $0.02.
.
10-14-2006, 07:02 PM
#13
Three Wheelin'
You are missing an option - a simple home equity loan (aka 2nd mortgage) which is different from a home equity line of credit. A 2nd mortgage is a fixed amount loan that is paid off just like a first mortgage or auto loan, but the intrest is tax deductible. I chose this option over pure cash just so I could keep my rainy day fund bigger and because I'm earning more on my money than the 6.75% 2nd mortgage (for 10 years). I also put 50% cash down.
