Is now a bad time to get a Gallardo?
#31
No one owns anything anyways. Some of us are just lucky to pay to use things for a while (eg. house, cars, watches, boats, our own body, etc.). Why should it bother you or anyone that someone chooses a particular way to attain his/her goal.
I could pay off my cars but then I would not have liquid to expand my business when the moment is right and make much more then I am spending on loan interest. Also can write off lease payments on taxes. I know when I was 25, I thought the world worked in only one way. The older I get the less I know or understand, but I am make wiser choices and have restrained of pen, tongue and keyboard!!!
I could pay off my cars but then I would not have liquid to expand my business when the moment is right and make much more then I am spending on loan interest. Also can write off lease payments on taxes. I know when I was 25, I thought the world worked in only one way. The older I get the less I know or understand, but I am make wiser choices and have restrained of pen, tongue and keyboard!!!
#32
Congrats!
#35
For what it's worth, I was at the factory yesterday and word is they are retooling for production at the end of this year. Expect release probably around april/may for th 50th anniversary, then a few more months for deliveries. You're still a solid 15 months out if you're the first on the list.
#37
You don't have to lease a car to use it as a deduction.
I'm a pay it and forget it type of person though. Way too many people have gotten caught with their pants down thinking the market will make them more money than the cost of interest.
Then 2000 hit. Then 2007 hit. Then the company cans you because you make the most money.
It could be a different story though if you own your own business, and the products you sell have a 20%+ margin.
I guess in the end, a lot of people can make the payment, but a lot can't afford it. But that's with any brand of car, Honda to Lamborghini. You should already know that the car is going to depreciate. So consider it a $20k(e.g) rental fee to drive it for two years.
I highly doubt a pimple faced teenager is going to say,"Ha, look at this chump, he has an old model Gallardo, not the new one."
I'm a pay it and forget it type of person though. Way too many people have gotten caught with their pants down thinking the market will make them more money than the cost of interest.
Then 2000 hit. Then 2007 hit. Then the company cans you because you make the most money.
It could be a different story though if you own your own business, and the products you sell have a 20%+ margin.
I guess in the end, a lot of people can make the payment, but a lot can't afford it. But that's with any brand of car, Honda to Lamborghini. You should already know that the car is going to depreciate. So consider it a $20k(e.g) rental fee to drive it for two years.
I highly doubt a pimple faced teenager is going to say,"Ha, look at this chump, he has an old model Gallardo, not the new one."
#40
I financed 50% of my cars because I was given 2.5-2.7% on that.. honestly who in their right mind WOULDN'T do that? I feel MUCH more comfortable with an extra 200k in my checking account then in a car when someone is willing to give me that money for under 3%..
in my opinion anything below 3% is a NO brainer and you would be stupid to not take it.
in my opinion anything below 3% is a NO brainer and you would be stupid to not take it.
#42
to answer your question on who? its pretty much everyone. you have a lot to learn about finances if you think no one will get a loan on a home if they have the money to pay it off. you can get a home loan for 3.125% right now and the interest is a tax deductible. there are government bond that pay a guarantee 5% and plenty of other investments that pay a much higher yield. why would you pay your house off?
#43
That's great if you didn't have to assume any risk, especially for the place you sleep at night.
I realize home loans are cheap, and that they're tax deductible, but why hand 3% over if you had millions, or hundreds of millions, and could buy properties in cash?
My dad applied the same model you're talking about to our company, borrowing money was cheap and free flowing at one point. Then 2007 happened, and he was hospitalized.
I realize home loans are cheap, and that they're tax deductible, but why hand 3% over if you had millions, or hundreds of millions, and could buy properties in cash?
My dad applied the same model you're talking about to our company, borrowing money was cheap and free flowing at one point. Then 2007 happened, and he was hospitalized.
#45
to answer your question on who? its pretty much everyone. you have a lot to learn about finances if you think no one will get a loan on a home if they have the money to pay it off. you can get a home loan for 3.125% right now and the interest is a tax deductible. there are government bond that pay a guarantee 5% and plenty of other investments that pay a much higher yield. why would you pay your house off?
Exactly.. again at below 4% on a home loan and below 3% on an auto loan.. it's free money.
I use my on hand cash to give much needed funds to my businesses.. so I will from month to month loan 100k-200k to businesses from my checking account.. having as much possible on hand cash for me is very important right now..
That being said.. if you have tens of millions.. I guess you wouldn't bother.. but we aren't talking about glaringly wealthy people are we? I read somewhere that 80% of exotic cars are financed.. Through HELOC or other lending..clearly there is a reason for that.
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albert@velosdesignwerks
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08-22-2015 09:03 AM
albert@velosdesignwerks
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