just wondering do anyone go for like a 10 year loan?
I know some car companies offer like a mini mortgage.
just wondered if anyone actually did it. Just curious.
I am no where near affording one of these but wanted to know.
Met a lady who had a 05 Bentley CGT with 120 months loan.
I was like whoaaa that's long time for a car.

 

that's just stupid to do that, not even worth it

 

Yes, those long-term loans are rediculous. If you can't afford the car ... then you can't afford the car IMO. However, leasing an exotic would be fine and appropriate for tax write off purposes ... if you can swing it.

 

there's 12-20 years i think ..LOL

Call Kevin from Catsexotics

 

no no, i am far from owning an exotic.
i can only swing 90k range. but was curious if there were anyone who had actually gotten like a 10 year loan or something. When i heard it, i was like wtf? but yeah thank for the updates. I agree, either u can afford it or you can't. no creative financing. lol

 

I would think it would be wiser to pull money out of a property if you are not leasing the car. Raja did you get her number?
Aloha

Byron

 

Byron - Im lost. What property are you referring to? Home equity loans?

 

Well i agree, but the payment on a 90K car is over $2000 /month..

why not buy a gallardo or $1200/month

 

I think it's better to take money out of your property, buy a cheap rental property, put it on minimum payment, then rent it out for $1000 more..
then use that to pay the car.. make your home work for you, Right Byron?

 

Yes Alex that is what I am saying. Oxygen Alex hit it on the head.

Aloha

Byron

 

There was already a whole thread on this over on Lambopower and even in the financing section here.. People were justifying why its worth to pay the minimum for their car, to have their other money free'd up and "liquid" for other investments to make more..

I guess people can use the term for both ways, if they cant normally swing buying a car like that, or to really invest the large chunk of money instead of having it in a depreciating asset, there are also no early payment penalties!

Woodside credit does this

 

I heard woodside dont do Porsche? maybe only the CGT? how about a
RUFgt2

 

Nope never used them, wouldnt know

 

Leasing these cars rarely makes sense from what I have seen. The residuals on them are stupid. I just ended up buying. BTW, Woodside's loans are insanely long term and the rates are the highest I've seen.

 

I can understand lowering your payments to free up cash flow and to take advantage of other appreciating assets... But that's why I lease right now. Sure it's a normal car, Infiniti FX, so hard to compare, but maybe the logic carries over. I've never looked into residuals/money factors on an exotic. That might make leasing worthless, though the tax write off can help. So many element to consider.