100k+ car purchases?
 

If one wants to purchase a 100k+ car and they have to finance it, do you think they should wait till they have the cash so they can just pay it outright?

you can lease it like bradshaw

I would never buy a 100k car if i didn't have 10x that.

Why would someone finance a supercar?

for tax reasons (leasing)

you are in porn, you should think about $100k cars after the first month when you made $10k :2 cents:

no you should just buy it on credit and post the pics on GFY

lol... $100k car is like a basic mercedes benz here..
:P
Whoopee for finnish taxation.

its the same in every business...and nothing wrong with that
I paid the first rate for my first BMW with the last cash I had...I thought, the worst that could happen is they will take and sell the car, if I cannot pay for it. But the monthly payments were a great motivation to work on new projects. And that helped a lot. :)

why the need for an expensive car if you were just starting (?) in business?

Depends. 100K won't buy you a sweet new supercar. If you spend 100K on a car, it will slowly lose value. Most in that price range aren't collectors cars if it is a performance car. Just depends on whether or not you plan on selling or keeping or what.

Is the interest you will be paying worth it?

IMO, I would say wait until they can easily afford to buy it outright, the only sensible reason to finance a purchase like this would be to solidify their credit. :2 cents:

:1orglaugh :1orglaugh Sad, but (in this industry) true.

Yeah, that and blow your credit outta the water for the next 7 years :2 cents:

if you cant afford it, dont get it, its as simple as that

life is short...people who dont risk dont have much :)

You cant be successful without risking.

why not , it would be such a shame to tie up a 100k in a depriciating asset:2 cents:

It's completely stupid to get a 100k car, unless I guess your net worth is well into 7 figures and you are looking to piss some money away...

Maybe as to avoid severely taking it in the ass with a HUGE finance charge. :2 cents:

Bingo :thumbsup

ppl who make 7 figures dont buy "shitty" 100k cars... :)

Dude, have you completely lost touch with reality? What do you think people worth 7 figures drive? Do you honestly think that all millionaires drive Lambos, Ferraris, and Bentleys as daily drivers? If so, seriously, stop watching MTV Cribs. :2 cents:

I didnt watch MTV even in my puberty. :)

Also this is not for me, so the lease tax write off thing is not going to work. Unless my friend wants to get in the biz and incorporate.

If you decide to buy a 100k car and don't even have that amount liquid then there is something very wrong with your reasoning IMHO

$100,000 car humm ok if you have to think about it wait a few month and let your bank roll grow for a few month... Id lease it in the end if you want it buy it out right or lease the newer model once the lease is up... personaly I would drop the cash in to a house or something that doesnt lose its value every day and wait until I could pay for at least 30% of the price of the car...

Then again just go get it an post a pic on gfy then if you cant make the payments an lose the car to the bank at least you can come back to gfy and look at the pics

Not true.

some people are into cars and others arent.

if you arent, like manowar says, you wouldnt buy a car like that unless you had a million bucks...

but then there are others like myself, who are into cars as more than just transportation. I dont have a million saved yet, but im about to drop 100k for my new M5.

To each his own.

I am a car freak, and when I was younger if I had access to $100k I would buy a $100k car. Then I grew up and figured out that it's easy to get "rich", but if you want to stay "rich" you have to be smart about it.

you're saying??

i don't know.
i don't understand buying something that expensive that depreciates.

I am responding to your earlier comment:






edit: nevermind, you'll figure it out eventually.....

:1orglaugh :pimp

Interest, fees and probably significant depreciation

versus

Deferring your enjoyment of the car until you can afford to pay cash (possibly having to miss out on some other things while you save)


It's not always an easy call. Most cars are not an investment so you're losing $ either way, it's quality of life versus a higher loss...

You could go to the dealership with a camera, blank out the dealer plates, and boast about your new Enzo on GFY. Or you could download pics from Ebay, wait a few months, then post here about your new Maybach.

Alternatively, you could do the same thing as Nylz. Wait until someone parks a Maserati outside of your apartment block, zoom in with your digital camera from the window of your 4th floor apartment, then post the picture on GFY & pretend that it's your car.

car is not an investment...expensive sport cars are fun, pleasure and much more things but not an investment...therefore you cant compare it with investments
If you are going for 2 weeks to Tahity to relax, are you thinking about making money out of it?

Most of the people in the world exist, some live.

But whats the point of staying "rich" if you dont enjoy it?

You will love it and wont regret it for a second. :thumbsup

If you have to ask this question on a message board buy a Kia.

That's the other balance in life.

Do you work your ass off so you can retire early at 40 and die with $1m still in the bank? Or work a little less harder, enjoy life more by spending more on yourself...

So long as your bank balance doesn't reach zero by the end of your life expectancy you're fine. :1orglaugh

lease it, don't be pussy and enjoy your $100k car ... life is short ;)

someone is thinking:winkwink: :thumbsup

Same here, cars never were a big priority for me.

The moment you drive them from the stand you've lost 20% of their value.

true, but what's the point in pretending to be rich when you aren't?

just like you said you bought a new BMW when you could barely afford the first rate for it, few years ago

IMO you buy an expensive car, when you are already rich or wealthy, have some nice savings and biz is going good - then you can reward yourself :glugglug

i guess everyone has a different view on it though, as this thread proves

I could never leave $1M at the bank...rather buy some real estate and rent it for a nice monthly income.

but the point was I had FUN with it...and it motivated me to work on other things as I said...now I make more on a good day than before per month. I need 2 things to work hard:
1.) monthly payments of any kind
2.) people who laugh at my plans(profit, etc)

100k car? Sounds like... I have like a 1k car now! lol

ok, understand.....

( i think I do )



:thumbsup

You could always buy a second hand (shock horror) executive driven model. My father in law works for a large manufacturer that offers long term employees special pricing on their executive driven cars. Most of them are priced well below market value so in effect they are an investment. I figured out that one model I was interested in had employee pricing that was roughly the same as a 12-18 month old car - so I could acquire it, drive it for a year and sell it for a net depreciation loss of zero.

Pity it had a totally fugly plasticy dash and door trim. I bought something prettier elsewhere.

btw dont you have any type-in domains to sell? :glugglug