rons2112

Feel free to ignore this if you are offended or you feel this is an inappropriate question, but how does a purchase of a car this expensive really work? Is it just like a regular car purchase, just times 10 or so? Do they have longer terms for these cars, or are they mostly leased, if there is such a thing for a car this expensive?

Or, I guess if you can afford this car, is it really just a case of writing a check (which I would assume, even if you could afford it, would be a bad idea because the cost of money is so cheap these days)?

Just curious.

ben in lj

pretty much the same - either write a bigger check (wire) or make a higher payment relative to a "regular car".

JS

Add a zero to the check and drive home.

Steve N.

Well, I'm nosing around right now, likely to buy a CGT, so I will pitch in my 2 cents on your question. Given the limited number of buyers for these cars, as you can imagine the dealership pays a lot of attention to you while you are contemplating the transaction - assuming you are a credible buyer. I was surprised when my dealer suggested I take a spin in a brand new CGT off his floor - I wasn't in the market at all until I drove the car, but it was impressive enough that I am likely to buy one. For what it's worth, I have bought a lot of Porsches through this dealer, so they knew in advance that they might have a shot at persuading me.

Regarding financing, etc. I suspect most buyers are cash buyers. Yes, money remains pretty cheap, but debt secured by aotomobiles is pretty expensive relative to other forms of financing, so I would think that most individuals who can reasonably afford this car have any personal debt against other assets - e.g. a home.

ben in lj

Yep, few that can afford the car don't buy one after riding (in a properly driven) or driving one. The car is incomprehensable otherwise.

OldGuy

I did this for the turbo and the GT3 so I am like a CGT mini me buyer, or I did what they do on a smaller scale--Like Steve says interest rates were around 5% So I had my home appraised. It came back at ~$300K I owe 130ish. Did a refinance took out cash and paid cash for the GT3. The bank wires you the money you put it in your checking/savings whatever, then you get a cashiers check for the purchase price of the car. Whats cool about this is you can IF you have finacial discipline get a 15 year loan and pay if off sooner- later- whenever- depending on your needs. (15 year was an example you can go 5 OR 30 too). Also you have the title in your hand which makes selling easier.

Now I have enough in my mammoth property to -liqiudate the GT3- and cash out of mammoth and buy a CGT BUT then all kinds of things happen. Divorce, lose the car, lose all my property kids
end up on the street in a WalMart basket. So I have decided to do what my CFO(wife) tells me from now on and just admire Ben's CGT from afar.

mac993

Not to side track this tread but, OG when are you going to do a comprehensive write up on the GT3 and TT. I would love to know as one might be in my near future. Thanks

Ghost Rider

Pick 5 numbers plus a powerball and the CGT can be yours...

1958 Convertible D

Or just see if you qualify for financing, as I just heard that Porsche will now finance the CGT for prospective owners. Rate is supposedly around 7% for up to 7 years, resulting in a payment of only $6,800 per month.

They're practically giving them away!

jim911

What is the lowest known price a GT has been purchased for?

rmrmd1956

Steve N.

Let me know when you are ready to sell the CGT(after you buy it ofcourse)!

Mark