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Depending on your psychological debt aversion, if you have $100,000 in cash it makes more financial sense to get a 3% fixed rate loan for 100,000 with the minimum amount down and put that cash into a higher return investment. My car loan is at 6% so for me it makes more sense to pay that down.
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Dec 12, 2016 22:37
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slidebite posted:Even though his post might have been a little misguided in relation to this thread specifically, I think his point is that not having the disposable income to outright buy a used vehicle which has notorious repair costs might be a questionable decision. I can't say I completely disagree with him. I can't speak for everyone but many people who have the credit to get approved on a 2% loan on a used car in the $20k-$45k borrowing range tend to: a) Understand how credit works and leverage it for their benefit even if the average goon can't be trusted not to max out $400 worth of pizza & anime debt on their Citibank My First Credit Card b) Have the financial means to cover the $20-45k disposable-income toys their excellent credit allows them to purchase at low interest rates while earning more interest using the capital on investments that aren't depreciating assets
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Dec 12, 2016 23:14
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Uncle Ivan posted:Depending on your psychological debt aversion, if you have $100,000 in cash it makes more financial sense to get a 3% fixed rate loan for 100,000 with the minimum amount down and put that cash into a higher return investment. My car loan is at 6% so for me it makes more sense to pay that down. Ether Frenzy posted:I can't speak for everyone but many people who have the credit to get approved on a 2% loan on a used car in the $20k-$45k borrowing range tend to: Pretty much. I like cash more than I hate debt so it's a no-brainer even if I could have used cash. It also makes it easier to absorb a catastrophic repair because I can use the cash for it or put it off indefinitely without getting cash crunched. I also have a couple mechanics and an AI worthy warehouse full of car stuff at work so I can have them do pretty much everything short of transmission or engine rebuild at no extra expense. It's probably going to live on one of the lifts all winter so I can polish up any problems when I'm bored at work since having access to all that without using it was really the start of me looking for a 3rd car anyhow.
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Dec 12, 2016 23:31
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Ether Frenzy posted:b) Have the financial means to cover the $20-45k disposable-income toys their excellent credit allows them to purchase at low interest rates while earning more interest using the capital on investments that aren't depreciating assets The problem is if you don't have a pot to piss in but want to borrow that $45K for that 996TT at a double-digit interest rate and are then downright hosed if the $25K motor shits itself, you probably shouldn't be buying it in the first place.
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Dec 13, 2016 01:15
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You can sleep in your car but you can't drive your house
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Dec 13, 2016 01:38
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slidebite posted:The problem is if you don't have a pot to piss in but want to borrow that $45K for that 996TT at a double-digit interest rate and are then downright hosed if the $25K motor shits itself, you probably shouldn't be buying it in the first place. I think that's the issue, getting approved for and using a $45k loan to buy a hot hatch or something new off the dealer lot is a very different kettle of fish to getting approved for and using a $45k loan for a 15 year old high end sports car. The bank is going to approve you for a $45k loan either way even though they're totally different financial propositions.
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Dec 13, 2016 01:52
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Elephanthead posted:The interest expense is less then a dealer oil change Yeah you really need a basic education in personal finance. No nice way to put it, sorry chief.
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Dec 13, 2016 02:00
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Pryor on Fire posted:Yeah you really need a basic education in personal finance. No nice way to put it, sorry chief. Have you seen dealer service prices? I think the 10k service which is p much oil only was like 3-400 on my wife's Macan. Also it was a (probably) joke. This thread got weird and not fun but yes, used Porsche's and literally every exotic sports car is stupid expensive to maintain and shouldn't require a loan to buy but everyone here pro-loan also seems to also recognizes that and realizes that it's a good choice even if you could buy it outright because low interest loans are amazing and good. Also a 45k loan on a car at the bottom of it's depreciation curve is better than a hot hatch if you can self-insure against catastrophic repairs because the lack of depreciation offsets the higher maintenance cost much of the time but if you have to count on never doing a $10k service then just don't do it.
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Dec 13, 2016 03:25
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Pryor on Fire posted:Yeah you really need a basic education in personal finance. No nice way to put it, sorry chief. It was a joke but it is funny because it is true. Assuming you buy a $15k 1999 911 and have good credit, your interest expense is $262 in the first year (the most expensive interest year). Two oil changes are going to run you at least $600. If you assume a $40k porsche and a 60 month loan you still pay more for oil changes then interest ($1,800 in interest $3,000 in oil changes) . Even a new $89k porsche (Look I know a good one is $140k) the interest is still cheaper then two oil changes a year over a 60 month term (Lets assume they ding you the full $400 a change for a new one cause poo poo you can afford it $3,015 vs $4,000 for oil). What I am saying is lease and don't change the oil.
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Dec 13, 2016 16:49
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Car's here  It's in amazing condition, runs great, and sounds awesome. I haven't had a chance to get it on the roads since it's 15 degrees and I forgot to grab the title from home so I can't get plates today but maybe when it gets up to 20 in a couple days I'll be able to really try it out.
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Dec 14, 2016 16:10
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Jymmybob posted:Car's here Pics please! Do you have winter tires for it?
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Dec 14, 2016 16:26
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Elephanthead posted:It was a joke but it is funny because it is true. What the gently caress costs $300 for an oil change? Quit taking you car to the dealer to do an easy oil change, it's $100 in oil / filter.
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Dec 14, 2016 16:27
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willroc7 posted:Pics please! Do you have winter tires for it? There's some narrower all seasons on at the moment and summers on the stock wheels but I'm going to skip any driving on salted or wet roads since the thing looks new on the underside. I'll likely give in by the end of the day. Also the RUF wheels are the genuine OZ-made ones so  but about half the people that see them hate them. I can't account for taste though. Personally I'd love to wrap it RUF blue and leave the wheels but my wife likes silver and the chrome lip/ black center mesh Victor (http://www.victorequipmentwheels.com/Porsche-wheels-rims-lemans.php) wheels that came with it. Also it looks like it's perfectly stock other than the AWE 700R kit which is great because there's not a bunch of weird mystery parts affecting the GIAC tune but I'll get the receipts tomorrow so then I can see exactly what's hidden under~ignore the random giant picture of one of the guy's kids~    And here's some garage pals for the winter   
Jymmybob fucked around with this message at 19:21 on Dec 14, 2016 |
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Dec 14, 2016 19:09
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I am very envious of that score. Looks like you got a real nice ringer all the way around between price, options, and condition of the car. That is a metric butt-ton of car for that much money. People think we aren't living in the golden era of cars, but they wrong.
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Dec 14, 2016 20:15
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Looks very good. Cool garage, too.
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Dec 14, 2016 20:19
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BlackMK4 posted:What the gently caress costs $300 for an oil change? Quit taking you car to the dealer to do an easy oil change, it's $100 in oil / filter. It's a Porsche. You stand a chance of losing the difference in resale value since it wasn't done by a "Porsche Specialist" with fully itemized receipts and photo albums for every single possible thing. That car looks great Jymmybob!
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Dec 14, 2016 20:19
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Short trip report: it's loving fast. I've got 500hp in the Jeep but those are nice calm NA ones in a big comfortable heavy tank where this is 150hp more than that while being strapped to the road while they scream behind you. Easily the fast car I've even been in and I look forward to having above freezing weather to actually try it longer.
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Dec 14, 2016 21:08
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Jymmybob posted:There's some narrower all seasons on at the moment and summers on the stock wheels but I'm going to skip any driving on salted or wet roads since the thing looks new on the underside. I'll likely give in by the end of the day. Also the RUF wheels are the genuine OZ-made ones so fknlo posted:It's a Porsche. You stand a chance of losing the difference in resale value since it wasn't done by a "Porsche Specialist" with fully itemized receipts and photo albums for every single possible thing. That said, a $15K Porsche, even a lowly 996, a $300 oil change is going to be one of the smallest expenses since it will almost certainly not have any of the major maintenance items done.
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Dec 14, 2016 21:38
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Is porsche known for great deals on CPOs? My mother in law has bought a fair amount of cars at the local Porsche dealer and they always have given her insane deals. I genuinely don't understand as she's not a negotiator in the least. The only thing i can think of is the multiple car purchases, any ideas?
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Dec 15, 2016 00:22
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Far under their initial asking or far under market?
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Dec 15, 2016 00:59
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So I just had a guy agree to my asking price for my 911. He then told me he was going to use it as his daily driver during the winter. In Edmonton, Alberta. I told him that's not really the best idea and basically talked him out of it. I'm keeping it for a while I think. 
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Dec 15, 2016 03:28
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If you didn't want to sell it, you shouldn't have listed it.  Who cares how he was going to use it, that isn't your concern.
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Dec 15, 2016 19:15
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It wasn't listed for sale, it was a PM message on another forum. And it is my concern if the guy wants to test drive it in the winter or have me jump through hoops to get winter tires mounted on it for him so he can. That being said, guy was under the impression it would be a good winter driver. It has 3.75" of ground clearance with an incredibly stiff suspension. It won't be unless he is trying to make a plow so I am helping the poor guy from making an expensive mistake. e: Just to be clear, I didn't tell him I wouldn't sell it to him. On the contrary, I said "Hey, if you give me my price I will sell it to you but I am telling you I think it's a mistake." and he took my advice. slidebite fucked around with this message at 19:27 on Dec 15, 2016 |
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Dec 15, 2016 19:22
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slidebite posted:It wasn't listed for sale, it was a PM message on another forum. Fair enough, that makes a bit more sense with the context.
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Dec 15, 2016 19:49
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Jealous Cow posted:Far under their initial asking or far under market? Below market a fair amount. Always sweetheart deals essentially.
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Dec 16, 2016 05:04
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I am thinking of trading my 2007 Z4M for a 981 Boxster S at some point next year. Options wise, anyone got any advice? Some must haves etc. PASM seems like it makes a car retain its value big time, I guess something like that you would have to drive a lot to notice the difference between stock and PASM and if its worth it, and I don't see how to get that experience.
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Dec 16, 2016 14:57
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willie_dee posted:I am thinking of trading my 2007 Z4M for a 981 Boxster S at some point next year. PASM is a lot of fun and the used market for sports cars puts a big premium on fun. We have PASM in the Macan, 911, and a similar thing in the SRT Jeep and we both use it a lot because there's usually a pretty noticeable different especially if it's a system that does the suspension and if you have an auto/pdk. Also the PDK is amazing for a daily driver. 996TT update: Titled and echecked plus took a longer drive. Holy loving poo poo it is fast. Like pants-making GBS threads at 3/4 throttle and I'm used to fast cars but this thing literally feels like the front wheels are lifting off the ground when the turbos spin up. I need to learn the GIAC switcher to put it into stock mode because 650hp is way waaaaay beyond my 6-speed abilities compared to just being somewhat above my abilities in the ~450hp stock range. Jymmybob fucked around with this message at 19:12 on Dec 16, 2016 |
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Dec 16, 2016 19:09
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Jymmybob posted:PASM is a lot of fun and the used market for sports cars puts a big premium on fun. We have PASM in the Macan, 911, and a similar thing in the SRT Jeep and we both use it a lot because there's usually a pretty noticeable different especially if it's a system that does the suspension and if you have an auto/pdk. Also the PDK is amazing for a daily driver. You took it out in this salt world?
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Dec 16, 2016 20:26
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willroc7 posted:You took it out in this salt world? Had to take it to the BMV for an out of state vin inspection to get the car titled and I wanted to make sure there weren't any hiccups while I was still in contact with the seller then hit the e-check on the way home. I picked today since it's super cold and there wasn't any slush but will be rinsing it in the wash bay of our warehouse where it's currently living. Now I don't need to take it out again until it's funtime.
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Dec 16, 2016 20:58
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willie_dee posted:I am thinking of trading my 2007 Z4M for a 981 Boxster S at some point next year. Jymmybob posted:996TT update: Titled and echecked plus took a longer drive. Holy loving poo poo it is fast. Like pants-making GBS threads at 3/4 throttle and I'm used to fast cars but this thing literally feels like the front wheels are lifting off the ground when the turbos spin up. I need to learn the GIAC switcher to put it into stock mode because 650hp is way waaaaay beyond my 6-speed abilities compared to just being somewhat above my abilities in the ~450hp stock range. I am jelly. I'm actually keeping my eyes open for 996TT because of you.
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Dec 16, 2016 22:43
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slidebite posted:Nicer than the standard seats and limited slip.. although those might be included in the S.  It's full circle because I started looking at 996s because of your posts about working on yours. Are you looking locally or most of NA because I still watch most of my bookmarked 996TT sites to see what prices are doing. It's crazy because prices have shifted up by probably 5k since August since I was looking for a ~$30000 higher mileage model but you just can't find anything under 35k that's not a piece of poo poo or salvage title. Honestly Ebay has consistently had the lowest prices on good cars but so many 911 shoppers are so hung up on car history and known forum posters that they snub cars with average ads which is how I got mine for what I'd consider probably 10k under what it'd go for on Rennlist with a comprehensive post.http://www.ebay.com/itm/152350451088 is the current best deal that I've been following. He was selling it on Rennlist recently and has a solid history. Reserve is likely 36K. http://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=443206522 is what I was pursuing before getting mine. The guy is a 944 racer and just wanted to clear out more cash and room for it since he didn't drive the 996TT enough. The new transmission is from fixing 2nd gear popout and everything seems legit with tons of miles since the buyback. Probably worth 31k
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Dec 17, 2016 00:55
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I'm not really looking hard. To be honest, buying one would be stupid for me right now because I simply don't have a place to put it. Yes, I would eventually sell the Carrera but I already have my work truck relegated outside and putting the wifes car out as now because of two loving Porsches would swiftly make her from being an ally to not. I am pretty stuck on a Canadian model if I ever am seriously in the market, and indeed found one in Ontario (2001, 80KMs, silver) but just not at that point. Yet. Just open eyes and dreaming. Although, that's pretty much how I got into this in the first place. That said, if I found a blue one like that Quebec one that was closer to home and not with the  about it, it would be pretty hard to resist.
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Dec 17, 2016 01:34
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Makes sense and you'll likely find the best car when you're not in a rush anyhow. I didn't expect to win the bid on my car otherwise I'd be in the same boat. Also if you or anyone else in here is looking and wants a carfax, I still have 5 reports left that I have to use in the next 2 months so hit me up and I'll post them but please at least be serious about the car. A fun note is that about 25% of people that see the car ask if it's new which proves that 911 purists who poo poo on the lights/styling are turds that don't reflect the general public. Get all those sweet 996s because they're still cool as hell and they look much better in person.
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Dec 17, 2016 02:51
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Jymmybob posted:that don't reflect the general public. Tbf, the general public doesn't know what rear wheel drive means or that the engine is in the back.
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Dec 17, 2016 07:06
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willie_dee posted:I am thinking of trading my 2007 Z4M for a 981 Boxster S at some point next year. I have a Cayman S with PASM/PSE/Sports Chrono, and PSE is the one that makes me giggle every time I hit the button. I bet it sounds even better with the top down. Above all else, get PSE.
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Dec 17, 2016 08:36
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kimbo305 posted:Tbf, the general public doesn't know what rear wheel drive means or that the engine is in the back. Well yeah but I will say almost everyone did know the rear engine thing just because of the novelty of it. When I took it for e-check there was a couple in their 40s in line with me and when they popped the gas cap on the front fender the best word to describe them was 'tickled' because of how absurd it seemed to them, as if that was the final proof that the engine truly is in the back.
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Dec 17, 2016 14:05
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Curious how many miles made it the price it is, if it's otherwise in good shape: http://boston.craigslist.org/nos/cto/5929999770.html
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Dec 27, 2016 19:08
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kimbo305 posted:Curious how many miles made it the price it is, if it's otherwise in good shape: 150k oh wait I thought you said guess
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Dec 27, 2016 19:09
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Does anyone here watch 997 prices? Are 997.1s still depreciating? 997.2s seem to have held relatively firm.
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Jan 13, 2017 04:06
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blk posted:Does anyone here watch 997 prices? Are 997.1s still depreciating? 997.2s seem to have held relatively firm. I would say first gens definitely have depreciated. I've seen fairly nice 05-06's dip into the mid-high 20k range which was pretty much exclusively Cayman territory a year or two ago. Probably because it shares the IMS problems with the 996 cars.
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Jan 13, 2017 06:24
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