How Much Do You Pay A Month For Your Car?
#31
12-29-2008, 11:42 AM
i wil answer it.
such a simple question. Yet no one answers it. why?
I pay 1300 per month for four year lease. 10k down .96k msrp for my 06 997s.
now was that easy enough??
jeeez
I pay 1300 per month for four year lease. 10k down .96k msrp for my 06 997s.
now was that easy enough??
jeeez
#32
12-29-2008, 11:47 AM
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I actually answered the OP on Rennlist. I pay $1311 per month 4yr. lease with only $2100 out of pocket expense. My car MSRP'd at $89k.
Dave
Dave
#34
12-29-2008, 12:33 PM
Wow there are alot of cash rich people on this thread. I am not so I lease a non s stock with only two add ons PSE,Sport chrono.I pay $1240 a month with no money down and tax's built into the payment . At the end of the lease which is in March I am going to buy it for like 40-45k can't remeber the exact number . It gave me three years to save up or if I want pay it off. I got a porsche 997 and I didn't have to wait till I saved up 85k.
)
#36
12-29-2008, 02:02 PM
I have a 2008 997 C2s, MRSP $96k, i got it for $81k back in Sept and i put down about $5k. Over three years it will cost me $1298 per month....
To those who can pay cash, i applaud you. It is certainly a personal choice but for me i would rather let Porsche and the lender worry about depreciation and residual values. With a lease i can hand back the car and say thank you very much for the experiance, besides i couln't wait another 5 years and 3 months to be able to pay cash...... i just had to get it before i turned 30..... early life crisis what can i say!
To those who can pay cash, i applaud you. It is certainly a personal choice but for me i would rather let Porsche and the lender worry about depreciation and residual values. With a lease i can hand back the car and say thank you very much for the experiance, besides i couln't wait another 5 years and 3 months to be able to pay cash...... i just had to get it before i turned 30..... early life crisis what can i say!
#37
12-29-2008, 03:52 PM
I've financed my toys.
But I'll be the first to say I believe buying toys outright is very smart.
And for two major reasons:
1. It ensures you are in a financial position great enough to afford the vehicle. Anyone can finance/lease just about anything, so it all comes down to a judgment call. As we've learned, Americans don't make these well. If you force yourself to pay cash, you can just about rest assured that you are in good enough financial health to afford it.
2. Toys are not assets. Sure you can finance them at 1% and invest your money. (and this is not a bad line of thinking) But your investment money is never guaranteed and there is always the chance that something catastrophic happens that wipes out a substantial chunk of your investment leaving you with a payment and nothing to show for it. I'd prefer to be safe than sorry.
But again, this isn't the route I've taken, but I certainly understand it.
But I'll be the first to say I believe buying toys outright is very smart.
And for two major reasons:
1. It ensures you are in a financial position great enough to afford the vehicle. Anyone can finance/lease just about anything, so it all comes down to a judgment call. As we've learned, Americans don't make these well. If you force yourself to pay cash, you can just about rest assured that you are in good enough financial health to afford it.
2. Toys are not assets. Sure you can finance them at 1% and invest your money. (and this is not a bad line of thinking) But your investment money is never guaranteed and there is always the chance that something catastrophic happens that wipes out a substantial chunk of your investment leaving you with a payment and nothing to show for it. I'd prefer to be safe than sorry.
But again, this isn't the route I've taken, but I certainly understand it.
for me, I don't point this out because of "pride", I point it out because for the most part (with rare exceptions) it never makes sense to finance a depreciating item and it is a lesson in long term financial viability
Last edited by strife_wy; 12-29-2008 at 06:42 PM.
#38
12-29-2008, 04:56 PM
Sure you can finance them at 1% and invest your money. (and this is not a bad line of thinking) But your investment money is never guaranteed and there is always the chance that something catastrophic happens that wipes out a substantial chunk of your investment leaving you with a payment and nothing to show for it. I'd prefer to be safe than sorry.
But again, this isn't the route I've taken, but I certainly understand it.
But again, this isn't the route I've taken, but I certainly understand it.
#39
12-29-2008, 05:30 PM
I have both paid cash and financed cars in the past. Sometimes I let the dealer finance a car, and then I promise not to pay it of until the get their back end money from the financing, I get more money off that way. Though all of my present cars except the range rover (co car) have are paid off.
#40
12-29-2008, 07:35 PM
You and I agree. But I think it's funny to consider taking your money and putting it into an asset that is GUARANTEED to be worth about half in 3 years, vs investing it and having a decent chance (present catastrophe excluded/weighted down) of actually coming out ahead. If you handle it right, it's not inconceivable that you could get the car for free using that method.
#41
12-29-2008, 09:20 PM
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For me, I won't buy a performance car unless I can buy it outright. I don't mind financing some of our other cars, such as the Lexus but when it comes to toys like this, I always pay in cash. It also helps that Porsche don't depreciate as heavily as some other marques, makes it a bit easier to swallow.
Bought my '08 Cayman S new at the end of '07 and lost a huge amount on it. Traded it in for an '06 C2S in September and only had to add $18k.
Bought my '08 Cayman S new at the end of '07 and lost a huge amount on it. Traded it in for an '06 C2S in September and only had to add $18k.
#45
12-30-2008, 07:49 AM
I'm a simple man. Yes, I understand the concept of using cash for investments vs. buying a car. When I buy a car, they are either "one only" buys and I keep them for a long time or 2+ years old. My issue is that when cars are leased or financed - the lenders dictate your car insurance coverages. On my policy, that will affect ALL cars on the policy creating another "extra" monthly payment on top of the new car payment.
If there are car insurance companies that allow different car coverages on the same policies, I may have a different perspective.
However, I am preparing myself to have a monthly payment when I go shopping for a 997TT in the future.
If there are car insurance companies that allow different car coverages on the same policies, I may have a different perspective.
However, I am preparing myself to have a monthly payment when I go shopping for a 997TT in the future.